Capnography Devices Market to Witness Robust Growth in Coming Years
The application of capnography in healthcare settings is rising due to the escalating support from the government. Organizations such as the American Society of Anesthesiologists (ASA), National Center for Patient Safety (NCPS), American Heart Association (AHA), and Anesthesia Patient Safety Foundation (APSF) are issuing numerous guidelines to promote the use of capnography devices globally. Further, the use of these devices has been made mandatory by the American Society of Gastrointestinal Endoscopy (ASGE) for endoscopic ultrasound procedures or endoscopic retrograde cholangiopancreatography (ERCP).
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Besides, technological developments, such as the incorporation of miniaturized mainstream multi-gas monitors and integration of molecular correlation spectroscopy and photodetectors in microstream capnography, are expected to advance the capnography devices market at a CAGR of 6.0% during the forecast period (2020–2030). Such improved devices display high safety levels and accuracy, have an adjustable flow rate, and prevent moisture contamination. Moreover, these novel products offer a rapid response and better optimization of postoperative outcomes. This factor will increase the market value from $379.9 million in 2019 to $713.3 million by 2030.
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Globally, the Asia-Pacific capnography devices market will witness the fastest growth during the forecast period. This can be attributed to the surging requirement for efficient respiratory monitoring systems on account of the escalating clinical urgency for treating respiratory diseases in emerging economies, such as China and India. The complexity of these ailments varies on a case-to-case basis, which is projected to broaden the adoption potential of capnography in the region. Additionally, the booming aging population, which is susceptible to several chronic ailments, will propel the adoption of capnography devices.
Thus, the rising awareness about capnography and the availability of technologically advanced products are expected to fuel their adoption in the coming years.