Capnography Devices Market Size, Share & Trends Analysis Report By Component, By Product, By Technology (Mainstream, Sidestream, Microstream), By Application, By End-use, By Region, And Segment Forecasts, 2021 - 2028
New York, April 07, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Capnography Devices Market Size, Share & Trends Analysis Report By Component, By Product, By Technology, By Application, By End-use, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06046014/?utm_source=GNW
Capnography Devices Market Growth & Trends
The global capnography devices market size is expected to reach USD 1.1 billion by 2028. The market is expected to expand at a CAGR of 9.7% from 2021 to 2028. Introduction of regulatory guidelines for procedural sedation and growing adoption of capnography in patient monitoring due to higher reliability and efficiency are anticipated to propel market growth over the forecast period. In addition, associated advantages such as ease of usage, minimally invasive nature, and medical efficiency with its usage are the key growth drivers for the market. Moreover, rising incidences of respiratory diseases that need continuous patient monitoring are expected to fuel the demand for EtCO2 monitors in coming years.
The COVID-19 pandemic had a positive impact on the market as companies such as Medtronic witnessed increased demand for EtCO2 monitors during the pandemic. Some companies such as Capsule Technologies also received product approvals for their EtCO2 monitors during the pandemic, which further resulted in positive market growth.
The market is highly competitive in nature and a limited number of players have a high level of dominance over the overall revenue share.The key market players account for a considerable share owing to their product offerings.
Market leaders are involved in the establishment of extensive distribution systems as well as increasingly involving in mergers and acquisitions to capture a larger share of the market. For instance, in January 2021, Koninklijke Philips N.V. announced the acquisition of Capsule Technologies, Inc., hence enhancing its position in the patient care management solutions for hospitals.
Capnography Devices Market Report Highlights
• The handheld capnography segment dominated the market in 2020, owing to associated benefits such as portability, light-weighted, ease of use, and treatment efficiency
• The microstream segment is expected to witness the fastest CAGR of 10.4% over the forecast period. This growth can be attributed to the fact that this technology is more effective and easier to incorporate as compared to sidestream and mainstream technology
• The emergency medicine segment dominated the market in 2020 owing to its usage to optimize pre-hospital ventilation, correct pediatric emergencies, and as a prognostic indicator to maintain pulmonary blood flow
• In Asia Pacific, the market is anticipated to register rapid growth in coming years owing to the presence of high unmet needs coupled with increasing patient awareness levels and improving healthcare infrastructure
• The hospital segment dominated the market in 2020 owing to the shifting preference of hospitals from conventional patient monitoring devices to capnographs
• Moreover, stringent norms for product approval and post-approval performance monitoring which are regulated by authorities such as the U.S. FDA and American Academy of Implant may act as a threat for new participants
Read the full report: https://www.reportlinker.com/p06046014/?utm_source=GNW
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