Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Capnography Device Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028”
The Global Capnography Device Market size is projected to reach US$ 1,800.5 Mn by 2028, with a CAGR of 17.8% during 2021-2028, a study by Acumen Research & Consulting
Increasing numbers of complex operations around the world will drive the worldwide development of the capnography industry. The capnometer is used to measure the concentration of carbon dioxide in exhaled air and view it numerically. Capnography machines are used to monitor breathing during sedation in operating rooms. As a result, a rising number of operating procedures worldwide would lead to strong demand for capnographic instruments and their acceptance, thus increasing market growth.
Increasing capnography usage in the management of anesthesia in target applications, such as surgical sedation monitoring, intubated patients during hospital patient transitions, and patient induced analgesia was assumed to fuel demand during the forecast period. Through operating procedures including hypoventilation, positioning of the endotracheal tube, and esophageal intubation are expected to further push market growth.
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The previous operations include quicker diagnosis of respiratory insufficiency, improved tolerance due to greater awareness, and strengthened patient health profile with stronger patient outcomes. Such opportunities are likely to be applied more efficiently. However, the increased geriatric population and the geriatric population’s susceptibility to lung diseases are projected to expand the customer base for capnographic procedures over the forecast period.
The above surgeries are followed by better patient performance, including quicker diagnosis of respiratory failure, greater awareness of this technique because of low sensitivities, and enhanced patient health profile. The use of this facility is supposed to improve these advantages.
Yet one of the key reasons to deter demand expansion would be a shortage of trained practitioners. This is a difficult tool involving qualified and educated experts. The treatment can be performed by skilled healthcare personnel in the hospital or in the extended care center or during transportation of medically ventilated patients only, according to the American Association for Respiratory Care. This aspect, therefore, acts as a barrier to the target market.
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In terms of value, North America holds the highest market share. The increased incidence of respiratory diseases related to unhealthy habits and a high degree of stress are the factors of high effects. In addition, in the coming years, global demand is expected to be motivated by the introduction in the coming years of new payment structures for respiratory and surveillance system procedures, and tight regulatory requirements for therapeutic feasibility, patient protection, and clinical effectiveness.
The North America market in capnographic device is projected to produce greater income due to an increasing number of cases of respiratory diseases attributable to unhealthy lifestyles and high rates of stress among people in the area. In addition, stringent national regulatory protocols for securing patients and new payment policies are other factors that lead to the development of the demand for capnography devices in the region.
Asia Pacific is anticipated to be the largest CAGR over the projected period because of increased healthcare costs, increased benefits and awareness among people about capnographic technology advantages and rapid development of the healthcare system in various developed countries are another factor driving growth.
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The risk of the lack of crucial life-saving equipment and other critical medical resources to deter the dissemination of the Covid-19 pandemic and to give better treatment to the sick, further rises with Covid-19 infections worldwide. However, ventilators serve as a crucial option for the treatment of COVID-19 patients, who may need urgent care, before pharmacological therapy is established. Therefore, it is desperately important to speed up the manufacturing cycle for a wide variety of test kits (antibody tests, self-administered tests, and other test kits). The research would make Covid-19 a main competitor to the sector.
Key Players & Strategies
Participants include major CareFusion, Medtronic, Masimo Corporation, Smiths Medical, and Others. Such major companies have pursued many tactical strategies, including the launch of new technologies, mergers, and acquisitions, alliances, the creation of new products and partnerships that have strengthened their financial flexibility and helped grow as major players in the industry.
2018, Masimo has announced the introduction of the Nomoline built-in Rad-97 Pulse Oximeter. The goal of the company was to attract clients by leveraging technologies that could boost business growth.
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