The global capnography devices market size was valued at USD 510.7 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.7% from 2021 to 2028. Growing technological advancements, prevalence of respiratory diseases, and supportive government initiatives are anticipated to boost the market growth. The growing adoption of capnography in patient monitoring, due to higher reliability and efficiency, in the treatment of respiratory diseases is expected to improve the medical efficiency of these devices in patient monitoring.
Strategic initiatives by the key players have also fueled the growth of the market for capnography devices during the forecast period. For instance, in September 2020, Capsule Technologies received FDA approval for its new connected capnography-monitoring technology. With this, the company enhanced its product portfolio. Likewise, in August 2019, Smiths Medical entered into a partnership with Medline Industries for the distribution of new products, which increased its market penetration.
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Key Player Mentioned:
- Masimo
- Smiths Medical, Inc.
- Dragerwerk AG & Co. KGaA
- Welch Allyn (Hill-Rom Holdings, Inc.)
- Koninklijke Philips N.V.
- Medtronic
- Nonin Medical, Inc.
- Nihon Kohden Corporation
- BD
- Diamedica (UK) Limited
- Edan Instruments, Inc.
Product Segment Analysis:
- Handheld
- Standalone
- Multiparameter
Application Segment Analysis:
- Emergency Medicine
- Pain Management
- Procedural Sedation
- Critical Care
- Others
Vendors are investing in product launches, geographical expansions, collaborative agreements, and acquisitions, to sustain in the market. The market for capnography devices is expected to become highly competitive as many startups are seeking opportunities in this sector. For instance, in May 2020, Koninklijke Philips entered into a licensing agreement, through which Philips integrated additional Masimo measurement technologies, such as NomoLine Capnography and O3 Regional Oximetry into select IntelliVue MX-series multi-parameter monitors. Also, in March 2020, Masimo acquired TNI Medical AG, a Germany-based company.
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.
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During the COVID-19 pandemic, market players such as Medtronic experienced a surge in the demand for capnography devices, among other respiratory system-related products. This was mostly because capnography devices fall under the category of non-invasive remote monitoring devices and can be used to support patient monitoring during the treatment of COVID-19, as per the guidelines of the U.S. FDA. This positively impacted the growth of the market for capnography devices during the pandemic.
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