Capnography Equipment Market Overview

The capnography equipment market is projected to expand from US$ 447.59 million in 2021 to US$ 716.38 million by 2028, reflecting a compound annual growth rate (CAGR) of 7.1% from 2022 to 2028.

Market Trends and Growth Drivers

This report outlines the prevailing trends and key factors propelling market growth. The rise in the market is primarily linked to the increasing incidence of respiratory disorders and the superior clinical advantages of capnography equipment compared to pulse oximetry. Furthermore, innovations in handheld capnography devices are anticipated to become a prominent trend throughout the forecast period. However, the stringent regulatory requirements for the approval of capnography devices pose challenges to market expansion.

Understanding Capnography vs. Pulse Oximetry

Pulse oximetry is a method for assessing blood oxygen saturation levels, utilizing infrared and red light to evaluate hemoglobin oxygenation. In contrast, capnography measures carbon dioxide (CO2) levels by passing infrared radiation through a gas sample obtained from exhaled air. Notably, oxygen saturation can remain normal for several minutes after a patient ceases breathing, which can lead to misleading results from pulse oximetry. Capnography, by detecting CO2, offers a more precise assessment of respiratory function. It captures every phase of the respiratory cycle, providing comprehensive data that aids healthcare professionals in diagnosing respiratory issues. The capnograph's ability to display real-time data allows for continuous monitoring of a patient's response to treatment and can indicate when ventilation is necessary, particularly in cases of respiratory failure. In contrast, pulse oximetry lacks real-time data capabilities, further emphasizing the advantages of capnography in clinical settings.

Prevalence of Respiratory Disorders

Chronic respiratory diseases are among the most common noncommunicable diseases globally, often resulting from environmental, occupational, and lifestyle factors. This category includes conditions such as chronic obstructive pulmonary disease (COPD), asthma, interstitial lung disease, pulmonary sarcoidosis, and pneumoconiosis (e.g., silicosis and asbestosis). According to The Lancet Respiratory Medicine, approximately 545 million individuals worldwide were affected by chronic respiratory diseases in 2017. In the United States, around 14.8 million adults were diagnosed with COPD in 2020, while the National Health Service reported that about 1.17 million people in the UK had COPD in 2021, representing roughly 1.9% of the population. In India, 55.3 million individuals were estimated to have COPD in 2016. The Global Asthma Report indicated that around 300 million people globally suffer from asthma, with projections suggesting an increase of 100 million by 2025. In the U.S., the Centers for Disease Control and Prevention (CDC) reported that approximately 24.8 million people had asthma in 2018, leading to significant healthcare utilization, including 1.6 million emergency department visits and 183,000 hospitalizations in 2017. The rising prevalence of respiratory conditions is a key driver for the capnography equipment market.

Regulatory Challenges

Despite the growth potential, stringent regulations surrounding the approval of capnography devices can impede market progress. In 2010, the International Consensus on Cardiopulmonary Resuscitation and Emergency Cardiovascular Care Science, along with the American Heart Association (AHA), revised guidelines to recommend the use of capnography during critical events, endorsing quantitative waveform capnography for intubation and CPR. In the U.S., the approval process for medical devices typically spans 3-7 years. Even minor modifications to previously approved devices necessitate a complete re-evaluation. While the FDA approval process for basic capnography devices is relatively straightforward, more complex devices face rigorous requirements that can delay their market entry. Current FDA regulations categorize capnography equipment as traditional medical products, leading to inconsistencies and a lack of standardization that further complicates market growth.

Market Segmentation

The capnography equipment market is categorized by product type into capnometers and capnography accessories & disposables. Capnometers are divided into multiparameter and standalone devices, with multiparameter capnometers further classified into conventional and handheld types. In 2021, the accessories & disposables segment commanded a larger market share, although the capnometer segment is expected to exhibit a higher CAGR from 2022 to 2028. By technology, the market is segmented into mainstream, sidestream, and microstream capnography, with mainstream capnography holding the largest share in 2021, while sidestream is projected to grow the fastest. Applications include cardiac care, trauma and emergency care, procedural sedation, and respiratory monitoring, with the latter expected to see the highest growth rate. End users include hospitals, ambulatory surgery centers, and home care settings, with hospitals currently holding the largest market share but home care settings anticipated to grow the fastest.

Strategic Developments

Companies in the capnography equipment market are employing various organic and inorganic strategies to enhance their market presence. Organic strategies primarily involve product launches and approvals, while inorganic strategies include acquisitions, collaborations, and partnerships. These approaches enable companies to broaden their operations and geographic reach, contributing to overall market growth. Notable developments include GE Healthcare's acquisition of CE mark clearance in June 2022 for integrating advanced INVOS regional oximetry and Microstream capnography technologies into the CARESCAPE precision monitoring platform.

Conclusion

Key organizations such as the CDC, Infectious Disease Research Institute (IDRI), World Health Organization (WHO), International Diabetes Federation (IDF), and American Heart Association (AHA) have been instrumental in providing data and insights for this report on the capnography equipment market.