Capnography Devices Market Size, Share, Industry, Forecast and outlook (2024-2031)

Capnography Devices Market is segmented By Product Type( Capnography, Main Stream Monitors, Stand Alone Monitors, Hand Held Monitors, Multi-Parameters, Side Stream Capnography, Micro-Stream Capnography, Capnography Disposables) By End-User(Hospitals, Ambulatory, Others)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Capnography Devices Market Overview

Capnography Devices Market  is in the growth stage with the market growing at a CAGR of 17.9% in the forecasted period (2024-2031). Capnography devices are used to monitor the level of carbon dioxide concentration in the respiratory gasses.

The machines are used mainly to monitor sedation procedures, diagnose respiratory diseases, and critical care procedures. Capnography is considered to have higher clinical efficacy in comparison to pulse oximetry. Also, Healthcare regulations in several countries across the globe favor capnography equipment.

Capnography Devices Market Summary

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Capnography Devices Market Dynamics

The growing conscience drives the global capnography devices market growth among the people suffering from central airway obstruction, chronic obstructive pulmonary disease (COPD), lung cancer, and asthma regarding the availability of minimally invasive procedures with lowered adverse effects.  

The growing prevalence of the respiratory disease will drive the market growth.

The significant factors for the growth of the capnography devices market include the rising number of respiratory diseases. Respiratory diseases, such as respiratory infections, asthma, lung cancer, and COPD, are increasing at an alarming rate in both developed and developing countries, driving the market's growth. Chronic respiratory diseases affect the airways and other parts of the lungs for a longer duration of the period. Respiratory symptoms are among the significant causes of consultation with doctors and physicians in primary health care centers. Chronic respiratory diseases affect more than 1 billion people globally, as per the Global Asthma Report, 2018. Smoking is one of the primary causes of the increase in respiratory diseases across the globe. As per WHO, tobacco smoking's root cause, COPD, affects a significant part of the world population.

As per the article published in the National Centre for Biotechnology Information (NCBI), it is stated that by 2035, the number of lung cancer deaths in the world will rise by 86%. In some regions, the number of lung cancer deaths will double, including America, Western Pacific, and South-East Asia. Highlights the surging need for capnography instruments to diagnose early airway disorders and respiratory depression, particularly during sedation, leading to a reduction in severe complications. Additionally, factors such as tobacco smoking, family hereditary lung cancer, and air pollution, among others, are projected to foster the escalating cases of patients suffering from respiratory diseases across the globe. 

Challenges related to the capnography devices are likely to hamper the market growth.  

However, capnography monitoring can involve some challenges, such as managing nuisance alarms and optimizing clinical workflow to ensure patient safety. These factors will hamper the growth of the market in the forecast period.

COVID-19 Impact on Capnography Devices Market 

The capnography devices market witnessed a positive impact due to the COVID-19. Medtronic experienced a surge in demand for capnography devices, among other respiratory products used to support the treatment and monitoring of COVID-19 patients. New product development and emergency use approvals remained the highlight of 2020. For instance, in September 2020, Capsule Technologies received US FDA approval for its new connected capnography-monitoring technology, among others.

The market is expected to continue its growth trajectory as it was before COVID-19 due to its sustained demand for other respiratory diseases requiring the monitoring of CO2 levels. EtCO2 monitoring has found many applications in the field of emergency medicine. Market players are expected to invest in emergency medicine beyond 2020 to gain a competitive edge.

Capnography Devices Market Segment Analysis

The side stream segment is expected to grow at the fastest CAGR during the forecast period (2024-2031)     

The side stream technology is expected to hold the largest market share over the forecast period due to the vast anesthesia monitoring usage. Furthermore, another major factor driving the market's growth includes an increase in surgical procedures across the globe. The side stream capnography devices are easy to connect and can collaborate with simultaneous oxygen administration via a nasal prong. The number of surgeries in specialized hospitals is estimated to grow. According to the Australian Institute of Health and Welfare, in 2017-2018, one out of four hospitalizations involved surgery in Australia. The rise in surgical procedures is expected to increase the demand for capnography devices, leading to the market's high growth.

Cost-effective operating, less maintenance, effectivity, and accuracy are factors promoting the demand for sidestream capnography devices. In addition, the development and commercialization of innovative side stream capnography instruments by several participants in the industry will augment the acceptance of these devices. Sidestream capnography is widely used in non-intubated patients attributed to its non-invasive nature. It also delivers quantitative bedside data related to ventilation-perfusion mismatching and uneven alveolar emptying.

Capnography Devices Market Geographical Share

North America region holds the largest market share of the global capnography devices market.

North America is found to hold a significant share of the capnography devices market, and it is expected to show a similar trend over the forecast period, without significant fluctuations. The Centers for Disease Control and Prevention stated that cigarette smoking is the primary factor for lung cancer. Cigarette smoking is linked to about 80% to 90% of lung cancer deaths in the US. It is estimated that the impact of this disease will continue to rise in the following years attributed to sedentary lifestyles and the acceptance of unhealthy habits. Moreover, as reported by the American Cancer Society, secondhand smoke is considered to cause over 7,000 deaths from lung cancer each year in the US. Furthermore, in 2019, the prevalence of asthma among adults above 18 years was approximately 20,026,722 in the country.

In addition, market players are focusing on launching new technologically advanced products. For instance, recently, in April 2018, Masimo announced the CE marking of the Rad-97 Pulse CO-Oximeter with integrated NomoLine capnography. With the rising disease burden, the number of treatment procedures is also increasing, further driving the capnography instruments demand in the coming years. Thus, due to the increase in respiratory diseases and rising technological advancement, the market is expected to witness high growth over the forecast period.

Capnography Devices Companies and Competitive Landscape

The capnography devices market is highly competitive with the presence of local and global companies. Some of the key players contributing to the market's growth include Becton, Dickinson and Company, DiMedica, Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V., Masimo Corporation, Medtronic Plc, Nihon Kohden Corporation, Nonin Medical, Smiths Medical, Welch Allyn, among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which contribute to the growth of the global capnography devices market. For instance, in May 2020, Koninklijke Philips entered into a licensing agreement. Philips integrated other Masimo measurement technologies, such as NomoLine Capnography and O3 Regional Oximetry, into select IntelliVue MX-series multi-parameter monitors.

Siemens Healthineers

Overview: Becton, Dickinson and Company, also known as BD, is an American multinational medical technology company that manufactures and sells medical devices, instrument systems, and reagents. BD also provides consulting and analytics services in specific geographies.  

Product Portfolio:

Alaris EtCO2 Module:  The Alaris EtCO2 Module, integrated with Alaris PCA Module, enables continuous respiratory monitoring to help reduce risks of opioid-induced respiratory depression. EtCO2 module functionality pauses a PCA infusion if the patient's respiratory status falls below hospital-defined limits. The EtCO2 module can also be used as a standalone monitor.