Capnography Devices Industry Growth Analysis, Opportunities, Trends, Developments and Forecast Report, 2030

From $422.1 million in 2020, the global capnography devices market value is predicted to surge to $736.6 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 5.7% from 2020 to 2030 (forecast period). The major factors driving the expansion of the market are the growing incidence of respiratory diseases, mushrooming population of geriatric people, rapid technological advancements and innovations in capnography devices, and increasing implementation of favorable government initiatives all over the world.

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In recent years, the incidence of respiratory illnesses, such as pulmonary embolism, asthma, and chronic obstructive pulmonary disease (COPD), has increased massively. As per the study named 'The Global Burden of Diseases' conducted by the World Health Organization (WHO), the number of people suffering from COPD is expected to surge sharply in the coming years. The study reported that there were nearly 3.17 million deaths because of COPD in 2015, and this number grew to 3.23 million in 2019.

As capnography devices assist physicians in managing these respiratory diseases, the growing prevalence of these diseases is fueling the expansion of the capnography devices market. Besides, rapid technological advancements and innovations in capnography devices, such as the adoption of photo detectors and MCS in micro-stream capnography devices and integration of miniaturized main-stream multi-gas monitors, are also supporting the growth of the market across the globe. The other major market growth driver is the ballooning population of geriatric people all over the world.

According to the World Population Ageing 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. Geriatric people are susceptible to respiratory illnesses, owing to their weaker lungs and cardiovascular systems than young individuals, and thus, their surging population is augmenting the need for capnography devices.

Depending on product, the capnography devices market is divided into stand-along, multi-parameter, and hand-held categories. Out of these, the hand-held category held the largest share in the market in the past, and this trend is predicted to continue in the coming years as well. This is ascribed to their portability, small size, and ease of use. Additionally, with rapid technological advancements and innovations, healthcare professionals are rapidly adopting medical instruments that can provide point-of-care (POC) treatment to patients.

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Geographically, North America dominated the capnography devices market in the years gone by. This was because of the high incidence of respiratory medical conditions, existence of major market players providing capnography devices, improving healthcare infrastructure, and high public awareness of these devices in the region. Whereas, the Asia-Pacific region is predicted to be the fastest-growing region in the industry in the years to come because of the soaring requirement for improved respiratory monitoring systems, rising public awareness about these devices, and surging cases of preterm birth in the region.

Hence, the sales of capnography devices will rise tremendously in the coming years, mainly because of the rising incidence of respiratory diseases and surging geriatric population all over the globe.

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P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

This release was published on openPR.