The report developed by Transparency Market Research on the global capnography equipment market expects to reach an overall market cap of US$615.6 mn by the fall of 2020. A sub-classification of capnography equipment market – sidestream capnographs – is projected to experience an eye catching growth in the global market for capnography equipment. The North America region is expected to dominate the global market in terms of the overall market share during the given forecast period of 2014 to 2020.
As per a new report published by Transparency Market Research, the global capnography equipment market is expected to see a potential expansion in competitive landscape. Numerous players across the globe such as Nion Kohden Corporation, Medtronic Inc., Dragerwerk AG, Covidien Plc., Masimo Coporation, and Nonin Medical Inc., among others are poised to create a stiff competition for new players in the industry.
Due to the advancements in the field of technology, capnography instruments have considerably evolved. Most of the key players in the capnography equipment market are now focusing on research-based activities to improve their products and overall quality. This move is projected to help these players to bring out a new line of products and cater to the evolving needs of the end-users.
Advancements in Technology Aides in Better Reliability and Efficiency of Capnography Equipment
TMR analysts have reported some key driving factors for the growth of the global capnography equipment market. Over the last few years, use of highly sophisticated capnography equipment has emerged to be a key trend. The transformation of the equipment to improve the overall accuracy and functionality of the capnographs is expected to lay the groundwork for the rise in their efficiency and reliability. Capnographs have always been an important part of the vital health regulatory tools. These chronographs have their primary usage in intensive care or during injecting anesthesia. A capnogram can be used to measure the level of the partial pressure exerted by carbon dioxide on the arteries and also monitor the concentration of inhaled and exhaled gases.
There are other key factors that are responsible for a tangible growth of the global capnography equipment market over the give forecast period. One of the noteworthy factors is the broad scope of the regulatory measure associated with the sedation procedures. The governments and the medical sector across the globe are taking a special care to introduce and implement these measures. Such measures are expected to propel a healthy growth of the global capnography equipment market in the coming years. Additionally, the increasing demand for superior treatment options for recurring respiratory problems is also expected to spur the overall market growth.
Asia Pacific and Latin America May Present Newer Opportunities Amid Lack of Demand
The growth of the global capnography equipment market is not without some challenges in its path. In spite of all the favorable government regulations and medical approvals, the market growth is foreseen to be pulled down by lack of demand. Primary reason behind this could be the ready availability of cheap alternatives. This factor may turn out to a key restrainer for the growth of the market.
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On the other hand, these restraints can be tackled by exploring new sales and marketing opportunities in the lesser developed nations of Latin America and Asia Pacific. The upcoming economies across the globe are facing a problem of recurring respiratory diseases such as chronic obstructive pulmonary disease and asthma. This in turn may open up an ocean of opportunities for the capnography equipment makers.
This review of the market is based upon the report published by TMR, titled, “Capnography Equipment Market (Product – Capnographs (Mainstream Capnographs, Sidestream Capnographs, and Microstream Capnographs) and Disposables; End User – Hospitals and Ambulatories) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2020.”
The global capnography equipment market has been segmented as presented below:
- Mainstream Capnographs
- North America
- Asia Pacific
- Rest of the World