The rising importance of all-time patient monitoring and ensuring their safety during healthcare delivery is boosting the global Capnography equipment market, predicts Fortune Business Insights in their new report.
The report is titled, “Capnography Equipment Market Size, Share and Global Trend by Product Type (Capnometers, Accessories), By Technology Type (Mainstream Capnography, Side Stream Capnography), By Application Type (Cardiac Care, Procedural Sedation, Respiratory Disorder, Monitoring, Emergency & Trauma Care), By End-user (Hospitals, Specialty Clinics, Ambulatory Surgical Centres (ASC), Homecare Settings), and Geography Forecast till 2026.”
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According to the segmentation of the global capnography equipment market, Fortune Business Insights foresees the mainstream capnography segment to dominate the market revenue during the forecast period. This is owing to the advantages of mainstream capnography such as shorter time is taken to respond to the needs of the patient, and a higher level of accuracy in capnography devices.
Rising Cases of Respiratory Disorders to Boost Global Market
The standard of care for sedated patients is set by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO). According to the principles set by them, patient care should be uniform in all healthcare institutions and that Capnography should be performed on patients in all healthcare settings irrespective of long-term or short-term, outpatient, or urgent-care, or nursing home, and others.
Additionally, Capnography is suggested as a compulsory routine monitoring for patients in the hospital by the Society of Gastroenterology Nurses and Associates. This indicates a rise in awareness and increasing demand for Capnography equipment, thus serving as a major driver for the global Capnography equipment market.
The market for capnography devices is anticipated to witness progressive growth rates in the coming years on account of the increasing geriatric population and their vulnerability towards various diseases. Rise in respiratory disorders among people is also increasing and this propels the demand for all-time care in hospital and other healthcare settings. The aforementioned factors are anticipated to boost the global market for capnography equipment in the coming years.
On the flipside, the market may face rough waters on account of lack of skilled professionals to read such high-tech equipment. This, accompanied by, the high installation and maintenance costs of the equipment may hinder its growth during the forecast duration.
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Nevertheless, the rapid advancement in technology and their implementation in the medical field is also a major factor boosting the market. Such technologies include early detection of hypoventilation over pulse oximetry, detection of the patient when he stops breathing, and others. This will help increase demand for capnography in the future market.
The Asia Pacific to Witness Robust Growth on Account of Improving Healthcare Services in Developing Economies
Fortune Business Insights foresees the global capnography market to be dominated by North America. This is because of the rising number of respiratory disorders and an increasing number of surgical procedures in the region. This, coupled with, the rising adoption of Capnometers by physicians in healthcare institutes, both private and government, is helping the market in North America to emerge as the largest regional market in the coming years.
Furthermore, the market in the Asia Pacific is anticipated to witness faster growth rates in the forecast duration owing to the increasing investments made by both public and private players into the healthcare sector in developing nations of China and India.
Players operating in the global Capnography equipment market include Smiths Group Plc. (Smiths Medical), Zoe Medical, Edan Instruments Inc., Welch Allyn (A Part of Hill-Rom Holdings), Hamilton Medical, Nonin, Infinium Medical, Masimo, Medtronic, Burtons Medical Equipment, Ltd., Nihon Kohden Corporation, Koninklijke Philips N.V., Schiller, Criticare Technologies, Inc. (A Part of Opto Circuits Limited), Drägerwerk AG & Co. KGaA, and others.
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