In a recent published report, Kenneth Research has updated the market report for Global Capnography Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Capnography Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
Global Capnography Market – Drivers, Opportunities, Trends, and Forecasts: 2018-2024
Overview: Capnography examines the concentration and partial pressure of carbon dioxide in expiratory gases during the diagnosis of various respiratory diseases. Capnography helps in the early detection of hypoventilation or apnea, which is critical for patients following ambulatory procedures. The increase in the respiratory diseases is necessitating the development of respiratory monitoring device. The limitations of the usage of pulse oximetry to obtain the accurate status of the respiratory condition of the individual is also fueling the market. The provision of showing the current ventilation status of the device helps in providing real time analysis of the condition, thus helps in providing better care to the patients. However, the presence of alternative respiratory monitoring devices such as gas analyzers and pulse oximetry are posing a threat to the market.
The traditional capnography devices have restrictions with portability and ease to use. The development of smaller capnography devices has addressed these issues and increased the demand for the technology. The recently launched microstream capnographs have numerous benefits when compared to the traditional devices.
Market Analysis: The “Global Capnography Market” is estimated to witness a CAGR of 19.2% during the forecast period 2018-2024. The capnography market is analyzed based on three segments – Product, End Users and Regions.
Regional Analysis: The regions covered in the report are the North America, Europe, Asia Pacific, and Rest of the World (ROW). North America accounts for the largest share of the capnography market, followed by Europe, Asia Pacific, and Rest of the World. More than 40% of the market is occupied by North America, with the US being the major contributor to the market growth.
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Product Analysis: Based on the products, the market is segmented into devices and the disposables. The disposables market is fastest growing as each disposable lasts for an average of only two days. However, reusable disposable is being used in many hospitals and other clinics, but the risk of infection remains high. According to the “Centers for Disease Control and Prevention (CDC)” Annually, around 1.7 million people are getting infected by using these reusable consumables in US, out of which approximately 99,000 those lose their lives.
End-user Analysis: Based on the products, the market is segmented into Hospitals, ambulatory surgical centers and others. The hospitals dominate the market in 2017 due to the good reimbursement facilities and availability of skilled professionals.
Key Players: The major players in the market include Dragerwerk AG & Co. KGaA., Philips Healthcare, Hill Rom, Inc (Welch Allyn, Inc.), Nihon Kohden Corporation, Smiths Medical, Dia Medica, Inc. Medtronic, Inc., Masimo, Nonin Medical, Inc., and Becton Dickenson and Company (CareFusion Corporation) are the key players of the market.
Competitive Analysis: Masimo Corporation, Philips Healthcare, Medtronic, Inc, Smith Medicals and Hill Rom, Inc (Welch Allyn) are the players dominating the market. These players are integrating strategies to increase their market share by product launches, expansion in the their geographical presence, merger & acquisitions and collaborative agreements. In June 2017, Medtronic started an international study to assess the risk of on opioid induced respiratory depression (OIRD), a preventable form of respiratory condition. The company claims that this is the first study to evaluate the clinical and economic aids resulting from the use of pulse oximetry and capnography. This helps the respiratory specialists in understanding the real incidents of respiratory compromise and other unmet needs.
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Benefits: The report provides complete details about the usage and adoption rate of capnography in various regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player’s initiatives. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.
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