Research Nester released a report titled “Capnography Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global capnography market in terms of market segmentation by product type, by technology, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The capnography market is anticipated to witness significant growth in the upcoming years on account of increasing prevalence of health related chronic disorders such as cancer, diabetes and cardiovascular disorders among other respiratory disorders.
The market is estimated to expand with a CAGR of about 18% and attain a significantly high market size during the forecast period i.e. 2019-2027. The market is segmented by end user into hospitals and ambulatory surgical centers, out of which, the hospitals segment is anticipated to lead the end user segment on the back of increasing number of patients admitted in these hospitals.
The capnography market is anticipated to record the highest growth rate in the Asia-Pacific region. This can be attributed to the growing progress in the medical industry and an increasing requirement for technological advancements in hospitals and other healthcare centers. The market in North America is estimated to hold the largest market share on account of growing incidences of chronic diseases such as lung disorders, especially among the geriatric population in the region. According to the data provided by the U.S. Census Bureau, the geriatric population (65 years and older) is estimated to be more than the population below 18 years of age for the first time in the history of the United States by 2035.
This rate of growing geriatric population is estimated to drive the growth of the market in the North America region.
Rising Technological Advancements in the Medical Industry to Boost the Market Growth
The increasing development in the healthcare industry along with the ongoing advances in technology is anticipated to drive the growth of the market. In every major region including North America, Asia-Pacific and Europe, the healthcare industry is expanding on the back of technological advancements. The growing demand for capnography devices can be attributed to the higher efficiency of these devices as well as the improved response time.
Minimizing the Challenges Faced by Capnography Market
The major restraints affecting the growth of capnography market include high cost of the devices along with the availability of alternate cheaper methods of measuring the carbon dioxide concentration. Such challenges can be dealt by reducing the manufacturing costs of the devices and making them accessible to all the hospitals and healthcare centers.
This report also provides the existing competitive scenario of some of the key players of the global capnography market which includes company profiling of Medtronic, Koninklijke Philips, Masimo, Smiths Medical, Drägerwerk AG & Co. KGaA, Nonin, Nihon Kohden Corporation, CareFusion, Welch Allyn, and Becton Dickinson and Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global capnography market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.