Growth in this market is majorly driven by 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.
Market Size
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% during the forecast period of 2018 to 2023.
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“Accessories to form the largest product segment during the forecast period”
Based on product, the capnography equipment market is categorized into two major segments, namely, capnometers and accessories. The accessories segment is expected to account for a larger market share 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 driving the growth of the capnography accessories market.
“Mainstream capnography segment is estimated to register the highest growth rate in the capnography equipment market, by technology, during the forecast period”
The capnography equipment market, by technology, is segmented into mainstream and sidestream capnography. The mainstream capnography segment is expected to register a higher growth rate during the forecast period owing to factors such as the advantages of mainstream capnography (such as higher accuracy as compared to sidestream capnography), increasing number of surgical procedures, and the increasing adoption of capnography equipment among healthcare professionals.
Recent Developments
- In 2015, the Medtronic (Ireland) opened its regional headquarters in Singapore to improve its market presence in the Asia Pacific region.
- Smiths Group (UK) invested 6.4% of its total revenue on R&D in 2017.
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