ILLINOIS, Chicago, September 17, 2018 /PRNewswire/ --
According to a new market research report "Capnography Equipment Marketby Product (Capnometer (Multiparameter, Standalone, Handheld, Conventional), Accessories), Technology (Mainstream, Sidestream), Application (Cardiac Care, Trauma, Emergency Care), End User (Hospital) - Global Forecast to 2023", published by MarketsandMarkets™, the global market is projected to reach USD 366.5 million by 2023 from USD 297.1 million in 2018, at a CAGR of 4.3% during the forecast period.
Growth in the Capnography Equipment Market is driven by factors such as the development of portable/point-of-care capnography devices, clinical benefits of capnography equipment over pulse oximetry, and the evolving guidelines related to the clinical use of capnography.
Accessories to form the largest product segment during the forecast period
Based on product, the Capnography Equipment Market is categorized into two major segments, namely, capnometers and accessories. The accessories segment is expected to account for a larger market share in 2018. The increasing adoption of capnography equipment during surgical procedures and post-operative monitoring, recommendations by various associations worldwide for the use of capnography equipment during patient monitoring for anesthesia to enhance patient safety, and the growing number of complex and critical surgical procedures worldwide are the major factors driving the growth of the capnography accessories market.
Mainstream capnography segment is estimated to register the highest growth rate in the Capnography Equipment Market, by technology, during the forecast period
The Capnography Equipment Market, by technology, is segmented into mainstream and sidestream capnography. The mainstream capnography segment is expected to register a higher growth rate during the forecast period owing to factors such as the advantages of mainstream capnography (such as higher accuracy as compared to sidestream capnography), increasing number of surgical procedures, and the increasing adoption of capnography equipment among healthcare professionals.
Trauma and emergency care segment is estimated to register the highest growth rate in the Capnography Equipment Market, by application, during the forecast period
The Capnography Equipment Market, by application, is segmented into cardiac care, trauma and emergency care, respiratory disease monitoring, and other applications. The trauma and emergency care segment is expected to register the highest growth rate during the forecast period due to factors such as the rising awareness of the clinical benefits offered by capnography equipment for trauma cases, coupled with the increasing number of road accidents across the globe.
Hospitals segment is estimated to register the highest growth rate in the Capnography Equipment Market, byenduser, during the forecast period
The Capnography Equipment Market, by end user, is segmented into hospitals and ambulatory surgery centers & home care. The hospitals segment is expected to register the highest growth rate during the forecast period owing to factors such as the rising awareness of the clinical benefits offered by capnography equipment.
North America is estimated to be the largest regional market for capnography equipment
The Capnography Equipment Market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. In 2018, North America is estimated to be the largest regional market for capnography equipment. The large target patient population and the strong presence of device manufacturers in the region are the major factors that have resulted in the significant adoption of capnography equipment in the North American market.
As of 2017, the various product segments considered in the Capnography Equipment Market are dominated by NIHON KOHDEN (Japan), Medtronic (Ireland), Smiths Group (UK), and Masimo Corporation (US). These companies accounted for a major share of the global Capnography Equipment Market in 2017.
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