Capnography Equipment Market Assessment, By Product [Multiparameter Capnometers, Standalone Capnometers, Handheld Capnometers, Conventional Capnometers], By Technology [Mainstream Capnometers, Side Stream Capnometers, Micro Stream Capnometers], By Applica

Capnography Equipment Market Assessment, By Product [Multiparameter Capnometers, Standalone Capnometers, Handheld Capnometers, Conventional Capnometers], By Technology [Mainstream Capnometers, Side Stream Capnometers, Micro Stream Capnometers], By Application [Cardiac Care, Trauma and Emergency Care, Respiratory Monitoring, Others], By End-user [Hospitals, Ambulatory Surgery Centers, Home Care], By Region, Opportunities and Forecast, 2017-2031F

Global capnography equipment market is projected to witness a CAGR of 6.75% during the forecast period 2024-2031F, growing from USD 401.5 million in 2023 to USD 677.06 million in 2031F. Capnography equipment market is anticipated to grow due to various factors such as the growing prevalence of respiratory disorders, growing preference for non-invasive approaches, technological advancements in respiratory treatment methods, and expansion of patient-compliant facilities in healthcare setups. The growing adoption of capnography methods and devices for the treatment of patients suffering from respiratory diseases or thriving on ventilation support has significantly expanded the demand for capnography equipment.

The demand for such devices was significantly boosted during the COVID-19 pandemic due to the sudden rise in respiratory conditions globally. With a growing preference for non-invasive methods in healthcare, these devices are anticipated to gain notable traction in the future. Healthcare professionals introduced capnography technology to intensive care units to improve patient care. Furthermore, its usage has increased due to the pandemic's need for remote respiratory monitoring. Capnography, combined with pulse oximetry, has become the standard monitoring practice in operating rooms and is gaining traction in other patient settings, such as moderate sedation and analgesia. Moreover, capnography is now widely used in all hospital settings to verify endotracheal tube placement during intubation.

For instance, the market gained traction from manufacturers and healthcare providers after the launch of the Global Capnography Project in 2016. The project aims to introduce capnography as a standard practice in healthcare settings to improve patient safety. Recent data from 2023 indicates that addressing the global capnography gap will enhance patient safety, with 90% of providers considering that capnography has saved lives.

Rising Prevalence of Respiratory Disorders

The rising prevalence of respiratory disorders, such as respiratory infections, COPD, asthma, and lung cancer, is significantly increasing the demand for capnography equipment. Capnography equipment are essential tool in respiratory healthcare used to monitor patients on ventilation supports. They help healthcare professionals accurately place breathing tubes and assist them through anesthetic procedures. These devices also play a crucial role in managing lung diseases, such as asthma and COPD, providing real-time monitoring of patient's respiratory function and alerting healthcare providers to potential breathing problems. WHO and other regulatory agencies have recognized these devices as crucial for remote and non-invasive patient monitoring. The respiratory pandemic, COVID-19, contributed to sudden growth in the market. The demand and adoption of capnography equipment are expected to increase significantly due to the rising prevalence of respiratory disease globally due to pollution and other factors.

For instance, in May 2023, according to the research published in BMC Anesthesiology, hypoxia in patients under observation was only a 5.4% incident in the capnography group compared with 14.2% in the standard group, proving the efficacy of capnography in reducing hypoxia and improving patient monitoring.

Technological Advances in Capnography

Recent advances in capnography technology have significantly improved patient monitoring in various healthcare settings, further boosting the market growth. These advancements include the introduction of micro-stream technology for side-stream sensors, main-stream sensors, ultra-compact MicroRotor technology, and the evolution of portable and compact capnometers. The real-time feedback mechanism of capnography devices significantly helps in growing its market share in respiratory medical devices. With the growing incidence of trauma and ICU cases, the target population is significantly increasing leading to higher demand for point-of-care and portable medical devices, further enhancing the market growth. Market players and regulatory agencies are constantly involved in the development of technically advanced capnography devices.

For instance, in March 2023, the United States FDA approved the CapnoSpot Pneumothorax Decompression Indicator manufactured by Pneumeric, Inc. which is a capnography equipment used for real-time monitoring of patients under decompressive thoracostomy. The device provides precision in the placement of needles and other medical devices during thoracic surgery by detecting the presence of carbon dioxide in the thoracic region.

Dominance of the Cardiac Care Segment

Cardiac care is the most common application of capnography devices. Capnography is used to monitor end-tidal carbon dioxide levels, which can indicate cardiac output and pulmonary blood flow. It is particularly useful during cardiopulmonary resuscitation (CPR) to assess the quality of chest compressions, confirm the correct placement of an endotracheal tube, and detect the onset of return of spontaneous circulation. Capnography is also used to guide decisions on the duration of CPR and to predict outcomes. With growing cardiac disease and obesity cases, the demand for capnography devices to treat cardiac conditions is anticipated to grow with time.

Hospitals are Chief End-users

Hospitals are the main end-users of capnography equipment, with a significant presence in the healthcare landscape. Studies indicate that nearly all hospitals in rural U.S., utilize continuous capnography for ventilated patients and often during procedural sedation. Hospitals require capnography facilities at their ICUs, which further affirms the lead of hospital segment. The high investment capacity of hospitals and permanent infrastructure make it more feasible for hospitals to procure and operate the capnography equipment. Usually, cardiac conditions, respiratory disorders, and trauma cases are treated by hospitals, which further enhances the demand for capnography equipment.

North America to be the Dominating Region

Capnography devices are more common in North America compared to other regions due to their significant impact on patient safety and outcomes. North America is expected to gain the largest share of the global capnography equipment market due to the increasing number of surgeries and the widespread use of capnography devices by medical professionals in the U.S. and Canada. In North America, respiratory diseases are widespread, driving up the need for capnography devices in healthcare facilities. The region's robust healthcare system and emphasis on patient safety have fostered the adoption of innovative medical technologies such as capnography. In addition, the region boasts a significant number of hospitals and surgical centers, which are the primary consumers of these devices. The presence of industry leaders such as Becton Dickinson, Philips, Masimo, Medtronic, and others has also thrived market growth in North America.

Future Market Scenario (2024-2031F)

The adoption of capnography devices in low-income countries is indeed considered the future of capnography. Studies have shown that the implementation of capnography in low-income countries such as Malawi has had a significant impact on patient safety, with anesthesia providers reporting that capnography helped prevent complications and saved lives. The Global Capnography Project (GCAP) in Malawi demonstrated that capnography is an essential monitor for safe anesthesia care and can improve the early recognition of critical airway incidents. The success of projects such as GCAP highlights the importance of making capnography more widely available globally to enhance patient safety. Efforts are being made to close the global capnography gap, with calls for urgent action to improve patient safety by increasing access to capnography in low- and middle-income countries. Initiatives are being proposed to address this gap, such as building coalitions, setting standards, securing funding, developing training tools, and manufacturing low-cost capnography units to facilitate broader use of capnography globally.

For instance, in September 2023, the Anesthesia Department at Mulago Hospital in Uganda, East Africa procured and installed a new capnography device to enhance their anesthesia facilities and address the shortage of anesthesiologists in the country. The device is anticipated to help the professionals in positioning tubes for monitoring patients' respiration during surgery.

Key Players Landscape and Outlook

These companies play a crucial role in the development and distribution of capnography equipment globally, catering to various healthcare sectors such as cardiology, emergency care, and others. The market has not witnessed any notable market tactics in recent times other than the last significant acquisition of Smiths Medicals in the year 2022. In January 2022, ICU Medical acquired Smiths Medical from Smiths Group. Smith Medical specializes in syringes, infusion devices, vascular access, and life-support products. This acquisition combines these offerings with ICU Medical's existing products, resulting in a significant player in infusion therapy with a projected annual revenue of about USD 2.5 billion. Through this acquisition, the capnography portfolio of Smith Medical goes to ICU Medical’s offerings.