Capnography Equipment MarketReport | Size, Growth, Demand, Scope, Opportunities and Forecast 2032
The global capnography equipment market is projected to grow at a CAGR of 4.4% and is estimated to reach a market value of US$ 536.35 Mn by 2032 growing from US$ 334 Mn in 2021.
“Clinical benefits of capnography equipment over the traditional pulse oximetry and development of portable capnography monitors or POC is predicted to be the major drivers of the global capnography equipment market during the forecast years.”
The global prevalence of respiratory disorders and diseases related to respiratory systems in the human body require a continuous supply of external breathing aids with constant monitoring. For such purposes, monitoring of the exhaled level of carbon dioxide is provided by capnography monitoring devices, making it an integral part of emergency medical services.
With the rise in respiratory diseases and ailments, the global market has been experiencing an increased demand for response capnography monitors.
A growing number of healthcare facilities in emerging economies is expected to further fuel the demand for pulse oximeters with capnography, positively stimulating the capnography equipment market in the region.
What is the Covid-19 Impact on the Global Capnography Equipment Market?
The initial days of the Covid-19 pandemic spread hampered the existing medical system like never before. Identification and accommodation of patients with comorbidities in complete isolation turned out to be a significant burden on the healthcare sector of every country. All the non-emergency medical services were cancelled or postponed.
Unfortunately, Covid-19 was a serious ailment of the respiratory syndrome, and the requirement for oxygen cylinders and ventilators increased many folds providing an immense opportunity for capnography instrument market regions severely hit by Covid-19 spread.
Another massive surge in demand for the capnography equipment market was observed during the second wave of the Covid-19 pandemic. The mutant version of the novel Coronavirus was more fatal than the previous infection cases.
The high mortality rate instilled a sense of panic among a large population surging again the demand for oxygen cylinders, ventilators and response capnography monitors by Covid-19 isolation centres and hospitals.
Patients also want to remain ready for any possibility of another such outbreak. The demand for capnography equipment is increasing even after the subsidence of Covid-19 cases as healthcare units.
What are the Recent Growth Opportunities for the Global Capnography Equipment Market?
Advancements in patient monitoring and a higher rate of respiratory diseases such as pulmonary asthma embolism and chronic obstructive pulmonary diseases (COPD) are anticipated to create more opportunities for the growing use of the patient monitor with ETCO2.
The detailed information on respiratory patterns and carbon dioxide concentration provided by such types of capnography monitors is the speciality for which such devices are getting popularity in the healthcare sectors.
What are Some of the Major Challenges faced by the Global Capnography Equipment Market Players in Different Regions?
Stringent regulations and ambiguous guidelines in different parts of the world have some restraining effects on the growth of the capnography medical devices market. The long process of testing and approval for the newly developed technologies is also another reason for the limited growth of the global market.
Variation in standards used in different regions for measuring various units obtained during the use of capnography instruments is the major challenge faced by capnography equipment manufacturers.
What are the Various Limitations in the Adoption of Capnography Equipment faced by its Global Market?
In developing economies, healthcare professionals face the unavailability of sufficient resources to supply the oxygen demand by the patients.
This major constraint has resulted in less awareness about the capnography monitoring equipment used during the process and less growth in these regions.
Necessary upgrading of previously followed medical procedures is expected to stimulate the adoption of patient monitors with capnography. For instance, the American Society of Anesthesiologists (ASA) stated reports in October 2010 for the continual observation of qualitative clinical signs of exhaled carbon dioxide by the patient under the influence of anaesthesia.
This change in guidelines has helped in the wider adoption of response capnography monitors by the healthcare professionals in the hospitals of the USA.
Capnography accessories & disposables held the largest share of the capnography equipment market by contributing more than 50 per cent of the total revenue generated in 2021.
Strengthening the healthcare sector by the involvement of insurance companies and government policies is expected to make the capnography monitor price affordable for a large section of society, further fuelling the growth of the global market.
After observing the successful use of nonin response capnography monitors during the implementation of ventilators on patients suffering from respiratory ailments, many manufacturers are coming up with new veterinary capnography monitors to be used for pet animals. The US having the largest population with some pet animals, will be the most attractive region for capnography equipment.
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