Capnography Equipment Market by Product (Multiparameter & Standalone Capnometer, Accessories), Technology (Mainstream, Sidestream, Microstream), Application (Cardiac Care, Trauma, Emergency Care), End User (Hospital)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global Capnography Equipment market size was estimated at USD 618 Million in 2022 and is expected to surpass around USD 1.40 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 9.11% during the forecast period 2022 to 2030. Market growth is mainly driven by the development of portable/POC capnography devices, clinical benefits of capnography equipment over pulse oximetry, and increasing number of surgeries. In addition, healthcare industry in emerging countries are expected to offer growth opportunities for players in the capnography equipment market. However, issues related to stringent (especially in the US) and ambiguous regulatory guidelines for the approval of capnography medical devices are expected to hinder the growth of the capnography equipment market during the foreca period.

 Report Scope of the Capnography Equipment Market

COVID-19 Impact on the global capnography equipment market

Logistical issues, managing patients with the disease, prioritizing patients with comorbidities and pre-existing conditions, and protecting the public and hospital frontline workers from exposure to the COVID-19 infection are the major challenges faced by healthcare systems across the globe. Many hospitals have implemented various isolation approaches to reduce the spread of the infection.

The demand for capnometers and supporting capnography accessories saw substantial increases. While the shortage of medical products became a serious issue, it also led to increased demand; hence production rose almost tenfold.

Going forward, medical procedure rates may vary by country based on regional COVID-19 infection and vaccination rates, hospital occupancy and staffing levels, transportation limitations, quarantines, other restrictions, and the emergence of new COVID-19 variants. In addition, the COVID-19 pandemic has impacted the global supply chain network, with disruptions or delays in shipments of certain materials or components. There are significant challenges to global transportation and other aspects of the global supply chain network, including the cost and availability of raw materials and components due to shortages and resulting cost inflation. Any delays or shortages may result in the inability to meet customer demand for products, which may pose challenges to the supply chain and adversely affect the business.

Although sales activities were restricted due to COVID-19, the critical care segment had a large-scale increase in demand for ventilators and capnometers; the capnography equipment market performed well in FY 2020, recording increased net sales and operating income. The market increased in 2020, mainly due to the impact of COVID-19. Supply chains were slightly disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, which would affect the capnography equipment market.

Capnography equipment Market Dynamics

Driver: Development of portable/POC capnography devices

In the early stages, healthcare professionals can identify potential breathing complications (such as airway obstruction, hyperventilation, hypoventilation, or apnea) through ventilation monitoring or capnograph evaluation of target subjects. Real-time measurement of various respiratory parameters helps healthcare professionals decide patient treatment options and enables timely intervention at the onset of an adverse respiratory event.

Capnography equipment is traditionally used for cardiology surgeries for patients under deep sedation and anesthesia. However, with the growing number of target patients for critical applications such as trauma and emergency cases, the demand for portable/point-of-care capnography equipment is expected to increase. In line with this changing market trend, key market players are increasingly focusing on developing portable/point-of-care or handheld capnography equipment that can be used for such applications that require easy device mobility and patient access. Examples of handheld capnography equipment include Microcap Handheld Capnographs (Medtronic Plc), Capnocheck II Hand-Held Capnograph/Oximeter/Carbon Dioxide Detector (Smiths Group Plc), and EMMA Capnograph and EMMA Mainstream Capnometer (Masimo Corporation).

Restraint: Stringent and ambiguous regulatory process for the approval of capnography equipment

Stringent (especially in the US) and ambiguous regulatory guidelines are restraining the growth of the capnography medical devices market. In the US, it takes around three to seven years to prove the medical safety of any new device. As per the law, even a new size of a previously approved device needs to go through the entire process before commercialization. If a customized product/device is manufactured, the company must go through a long process in which every single part of the device has to be tested and approved individually. Simple capnography equipment receives FDA approval, but complex devices that need to comply with many FDA requirements are a hurdle for the availability of capnography equipment on a large scale. There are also state legal requirements and manufacturing regulations to pose obstacles for the capnography equipment market.

The FDA usually evaluates all medical devices for safety and effectiveness and conducts appropriate benefit and risk assessments. However, in some cases, the FDA may require manufacturers to provide additional data, depending on the complexity of the device. The FDA currently regulates capnography equipment similarly to traditionally manufactured medical products. However, 3D printing requires software and material specifications, which are stricter than the typical specifications of a traditionally produced device.

Global variance in regulations is another important consideration. The International Consensus on Cardiopulmonary Resuscitation and Emergency Cardiovascular Care Science and the American Heart Association (AHA) updated their guidelines for Adult and Pediatric Advanced Life Support in 2010 to include recommendations for capnography use during these critical events. The new guidelines recommended the routine use of quantitative waveform capnography for both intubation and during CPR. Since capnography is the most reliable method to confirm the endotracheal tube placement (ETT), this method was given a class I recommendation for all hospital settings. In CPR, capnography can improve the quality of chest compressions by serving as a guide to effective compressions and reducing interruptions by identifying ROSC without frequent pauses for pulse checks (Class IIa). Since these recommendations have been released, it is unclear if they are being adhered to for children.

Opportunities: Emerging markets

The healthcare industry in emerging countries (such as India, China, Brazil, and Mexico) offers significant growth opportunities for players in the capnography equipment market owing to factors such as expansions in the target patient population, increasing prevalence of lifestyle disorders, growing public-private investments for product development & commercialization, less stringent regulatory scenario, and growing medical tourism in these countries.

India, Saudi Arabia, France, Turkey, and Italy are among the fastest-growing economies globally as of 2021. These emerging economies are expected to account for one-third of the global healthcare expenditure by 2023 (Source: The World Economic Forum, 2022).

The growing number of minimally invasive surgical procedures (including laparoscopic and endoscopic procedures); ongoing improvements in healthcare infrastructure; growing target patient population base; and rising number of hospitals and surgical centers in emerging countries are driving the demand for capnography equipment in these countries.

To meet the growing demand for capnography equipment across emerging markets, prominent product manufacturers are increasingly focusing on inorganic strategies (such as partnerships and collaborations) to strengthen their distribution networks and enhance their manufacturing capabilities in specific countries.

Challenges: Limited awareness about capnography among healthcare professionals

Healthcare professionals in emerging and less-developed countries are faced with limited awareness about the clinical role of capnography equipment during surgeries and postoperative monitoring. Moreover, its adoption among surgeons in developed countries is subdued due to limited clinical evidence to support the safety & efficacy profile of capnography equipment for various applications. For instance, 70% of the patients dependent on artificial airways died in ICUs due to the lack of use of capnography equipment in the UK (Source: Fourth National Audit Project, Oxford University Press, 2016). Also, only 72% of UK ICUs routinely use capnography in the country (Source: Fourth National Audit Project, Oxford University Press, 2016). Additionally, irrespective of the availability of various guidelines and related amendments supporting and recommending the clinical use of capnography in different applications, their uptake is still relatively low across key countries.

Therefore, limited awareness about the clinical role of capnography, coupled with a dearth of clinical evidence to support its efficacy profile during various applications, is expected to restrain their optimal adoption among healthcare professionals across major markets during the forecast period.

The Capnometers segment accounted for the largest share of the capnography equipment market, by product type, in 2021

Based on product type, the capnography equipment market is categorized into two major segments, namely, capnometers and capnography accessories & disposables. Capnometers are divided into multiparameter & standalone categories, which are further segmented into handheld and conventional capnometers. Capnometers form the single largest segment, but capnography accessories & disposables hold the larger share of the market—52.5% in 2021. The increasing adoption of capnography equipment, recommendations for its use in patient monitoring, medical reimbursements for capnography equipment across developed countries, and the growing number of surgical procedures are driving the growth of the capnography accessories market.

The Mainstream Capnography segment accounted for the largest share of the capnography equipment market, by technology, in 2021

Based on technology, the capnography equipment market is segmented into mainstream, sidestream, and microstream. The mainstream capnography segment accounted for 67.4% of the capnography equipment market in 2021. The advantages associated with mainstream capnography, such as ease of use and the ability to monitor breathing in intubated patients accurately, are expected to drive the growth of this market segment during the study period.

The Cardiac Surgeries segment, by application, accounted for the largest share of the global capnography equipment  market in 2021

Based on application, the capnography equipment market is segmented into cardiac surgeries, trauma & emergency care, respiratory monitoring, and other applications. In 2021, the cardiac surgeries segment held 40.5% of the capnography equipment applications market. The large share of this segment is attributed to the increasing regulatory guidelines recommending capnography for cardiac surgeries and the rising number of cardiopulmonary surgeries performed across the globe.

On the basis of End Users, Hospitals segment accounted for the largest share of the global capnography equipment market, in 2021

Based on end users, the capnography equipment market is segmented into hospitals, ambulatory surgery centers & home care, and other end users. Hospitals dominate the capnography equipment market, with a share of 82.3% in 2021. This segment is projected to reach USD 358.6 million by 2027 from USD 275.1 million in 2021, at a CAGR of 4.5% during the forecast period. Factors such as evolving guidelines related to the use of capnography and the rising incidence of chronic disorders are expected to drive the demand for capnography equipment in hospital settings in the coming years.

The Asia Pacific market is expected to grow at the highest CAGR during the forecast period

The capnography equipment market has been segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of 50.6% of the capnography equipment market, followed by Europe with a share of 25.5%. On the other hand, the Asia Pacific market is estimated to register the highest growth rate during the forecast period. This can primarily be attributed to the increase in government funding for the establishment of capnography equipment stations, stringent regulations that support the greater adoption of pollution monitoring technologies, and technological advancements in the field of environmental sensors.

Some of the prominent players in the Capnography Equipment Market include: ZOLL Medical (Asahi Kasei) (Japan), Becton, Dickinson, and Company (US), Drägerwerk AG & Co. KGaA (Germany), Edan Instruments, Inc. (China), GE Healthcare (US), Hamilton Medical (Switzerland), Welch Allyn (a Hill-Rom company) (US), Koninklijke Philips N.V. (Netherlands), Masimo Corporation (US), Medtronic plc (Ireland), Mindray Medical (US), Nihon Kohden (Japan), Nonin Medical Inc.(US), Schiller (Switzerland) and Smiths Medical (UK).

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Capnography Equipment market

Global Capnography Equipment Market, by Product Type

• Capnometers
• Multiparameter Capnometers
• Handheld Capnometers
• Conventional Capnometers
• Standalone Capnometers
• Handheld Capnometers
• Conventional Capnometers
• Capnography Accessories & disposables

Global Capnography Equipment Market, by Technology

• Mainstream Capnography
• Sidestream Capnography
• Microstream Capnography

Global Capnography equipment market, by Application

• Cardiac Care
• Trauma and Emergency Care
• Respiratory Monitoring
• Other Applications

Global Capnography equipment market, by End User

• Hospitals
• Ambulatory Surgery Centers and Home Care
• Other end users

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Points Covered in Capnography Equipment Market Study:

• Growth of Capnography Equipment in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Capnography Equipment and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Capnography Equipment Consumption Analysis
•  Capnography Equipment Production Analysis
•  Capnography Equipment and Management