Capnography Equipment Market Size 366.5 Million by 2023 to Reach 4.3% CAGR

Posted On: 27. September 2018
Posted By: pr-gateway

The global capnography equipment market to dominate by APAC while the overall market is to reach 4.3% CAGR to hit 366.5 million during 2016-2023 driven by accessories segment.

Capnography Equipment Market Size 366.5 Million by 2023 to Reach 4.3% CAGR

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The global capnography equipment market is projected to reach USD 366.5 million by 2023 from USD 297.1 million in 2018, at a CAGR of 4.3%. Factors such as the development of portable/point-of-care capnography devices, clinical benefits of capnography equipment over pulse oximetry, increasing number of surgeries, and the evolving guidelines related to the clinical use of capnography are expected to drive the demand for capnography equipment in the coming years. However, the limited awareness about capnography and the shortage of skilled professionals to operate capnometers are the key challenges in this market.

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Based on product, the market is segmented into capnometers and accessories. The accessories segment is expected to account for the largest share of the capnography equipment market in 2018. The increasing adoption of capnography equipment during surgical procedures and post-operative monitoring, recommendations by various associations worldwide for the use of capnography equipment during patient monitoring for anesthesia (to enhance patient safety), and the growing number of complex and critical surgical procedures worldwide are the major factors that are expected to drive the growth of the capnography accessories market.

Based on end user, the market is segmented into hospitals and ambulatory surgery centers & home care. In 2018, the hospitals segment is expected to account for a larger share of this market. Factors such as the evolving guidelines related to the use of capnography and the rising incidence of chronic disorders are expected to drive the demand for capnography equipment in hospitals in the coming years.

The capnography equipment market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. The Asia Pacific is estimated to be the fastest-growing regional segment in the capnography equipment market majorly due to the presence of a large target patient population in the region, coupled with the increasing adoption of patient monitoring devices, including capnography equipment, due to the decreasing product costs as a result of local manufacturing and the strengthening of the distribution networks of prominent manufacturers. The growing medical tourism in several APAC countries is also expected to support the growth of this regional market during the forecast period.

Some of the major players operating in the capnography equipment market are NIHON KOHDEN (Japan), Philips (Netherlands), Medtronic (Ireland), Smiths Group (UK), Masimo Corporation (US), Drägerwerk AG & Co. KGaA (Germany), Hill-Rom Holdings (US), Nonin Medical (US), Infinium Medical (US), Criticare Technologies (US), SCHILLER (Switzerland), Zoe Medical (US), Edan Instruments (China), and Burtons Medical Equipment (UK).

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In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the market.

By Company Type: Tier I – 45%; Tier II – 34%; and Tier III – 21%

By Designation: C-level – 14%; Director-level – 10%; and Others – 76%

By Region: North America – 40%; Europe – 32%; APAC – 20%; and RoW – 8%

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