Spiraling COPD Prevalence to Create Growth Avenues for Global Capnography Equipment Market, says TMR
Transparency Market Research has published a new report on the global capnography equipment market. The report, titled ‘Capnography Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020,’ gives an overview of the market by focusing on its crucial elements. Analysts project the global market to exhibit an 18.70% CAGR from 2014 to 2020. The global capnography equipment market stood at US$187.2 mn in 2013 and is predicted to reach US$615.6 mn by 2020.
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Factors such as technological advancements, rising occurrence of respiratory diseases, and the increasing awareness about using capnography equipment are primarily responsible for the growth of the market. The global capnography equipment market is expected to find growth opportunities due to the rising occurrence COPD and asthma in emerging economies. However, the availability of affordable substitutes such as pulse oximeter is projected to hamper the growth of the market.
Capnography examines the concentration and partial pressure of carbon dioxide in expiratory gases during the diagnosis of various respiratory diseases. In 2013, as per the World Health Organization (WHO), around 235 million people suffered from asthma globally. According to Nature Middle East, the global incidences of asthma will increase by 100 million by 2025. This strongly indicates that the rising occurrence of respiratory diseases will be the primary factor driving the global capnography equipment market.
The global capnography equipment market is segmented on the basis of product, end-use, and geography. Based on product, the market is classified into capnographs and disposables. The capnographs segment is sub-segmented into mainstream, sidestream, and microstream capnographs. In 2013, the sidestream capnographs segment held a share of close to 50% in the global capnography equipment market. Fewer sterilization issues, ease of use, and the ability to monitor patients, especially those in non-intubated condition, are some of the factors responsible for the growth of the sidestream capnographs segment. However, the microstream capnographs segment is expected to exhibit an 18.0% CAGR during the period between 2014 and 2020 to become the fastest growing segment.
Based on geography, the global capnography equipment market is divided into North America, Asia Pacific, Europe, and Rest of the World. In 2013, North America held a dominant share of 60% in the global capnography equipment market. In October 2010, the American Society of Anesthesiologists (ASA) revised the anesthetic monitoring standards by instructing the use of capnography. This has helped North America to maintain its market dominance. The high occurrence of respiratory diseases such as chronic obstructive pulmonary disorder and asthma are projected to benefit the North America market to maintain its dominance. The Europe capnography equipment market is predicted to be the fastest growing regional market owing to favorable government rules and the availability of capnography equipment at affordable rates.
Some of the prominent companies operating in the global capnography equipment market are Dragerwerk AG, Medtronic, Inc., Nonin Medical, Inc., Philips Healthcare, Welch Allyn, Inc., Masimo Corporation, Medtronic, Inc., Nonin Medical, Inc., and Covidien plc.