Capnography Market

Market Overview

The global capnography market size was valued at USD 721.08 million in 2022. It is expected to reach USD 2,271.8 million by 2031, growing at a CAGR of 13.60% during the forecast period (2023–2031).

Capnography uses capnograph devices to measure and analyze the carbon dioxide concentration in respiratory gases. The actual level of carbon dioxide in the bloodstream should be measured. Carbon dioxide concentrations are tracked using capnography for both inhalation and exhalation. Anesthesiologists work to avoid hypoxia as much as possible, and capnography can help to spot conditions that, if left untreated, could result in hypoxia. Additionally, it aids in the quick detection of hypoxia before it causes irreparable brain damage.

Market Dynamics

Global Capnography Market Drivers

Increasing Number of ICU Admissions 

Recent trends in illnesses and accidents have increased the demand for intensive care units (ICUs). The market is evolving as a result of rising patient monitoring demand as well as an aging population. The main characteristics of these services include ongoing monitoring and access to patient data. This shortens the time needed for clinical decisions and promotes effective healthcare delivery. Additionally, the use of these systems compromises patient care. More than 5 million patients are admitted to ICUs each year in the United States for intensive or invasive monitoring support of the airway, breathing, circulation, stabilization of acute or life-threatening medical problems, comprehensive management of injury or illness, and maximization of comfort for patients who are dying. Therefore, it is anticipated that all of the factors above will spur market expansion.

Increase in the Number of Operations

Increasing use of capnography equipment during surgical procedures and recommendations for post-operative monitoring by various associations. For instance, The Lancet Commission on Global Surgery emphasized the significance of using capnography equipment during patient monitoring for anesthesia (to improve patient safety), the availability of medical reimbursements for post-operative monitoring with capnography equipment across developed countries, and the rising number of complex and crucial surgical procedures globally drive the growth of the capnography market. Additionally, as the prevalence of chronic conditions like diabetes, arthritis, organ failure, cardiac disease, and lung diseases rises, more surgeries are performed, encouraging capnography. The CDC estimates that 48.3 million surgical and nonsurgical procedures are carried out annually in the U.S., which is expected to fuel market growth further.

Global Capnography Market Restraints

High Cost

Rapid technological advancements have made hospitals need to upgrade their equipment to keep up with the growing competition. The market's expansion is hampered by the high cost of newer, more advanced capnography equipment. For instance, a highly sophisticated capnography monitor can cost around USD 3,390.0 (Life Sense II WIDESCREEN Tabletop Capnography EtCO2 offered by MASIMO). The same goes for portable capnography monitors, which can cost about USD 1,258.19. (Capnostream 35 Portable Respiratory Monitor offered by Medtronic Plc.).

Global Capnography Market Opportunities

Potential for Rapid Growth in Emerging Markets

The capnography market currently has the most extensive customer base in North America. According to the American Heart Association, approximately 647,000 Americans die yearly from heart disease. In addition, the American Lung Association (ALA) estimates that 16 million adults in the U.S. have COPD. Furthermore, Asia-Pacific has significant market growth potential because it accounts for 4.60 billion of the world's people, who could potentially be patients. Growth is anticipated in developing nations like the U.S. and Mexico due to improvements in healthcare infrastructure, rising costs, and increased public awareness of diseases like cancer and cardiovascular disease. It is anticipated that rising healthcare costs in developing countries and rising personal disposable income will provide lucrative opportunities for global capnography market growth.

Regional Analysis

By region, the global capnography market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant contributor to the global capnography market and is expected to grow at a CAGR of 12.6% during the forecast period. This is primarily attributed to an increase in the number of elderly people and COPD cases with complications. In addition, increased use of sophisticated capnography devices, including portable and non-portable devices, and improvements in capnography monitors are anticipated to propel market expansion. North America's healthcare systems, facilities, and payers are highly regarded. Increased health-related disease and disorder prevalence increases the need for better healthcare services and more cutting-edge diagnostic and therapeutic tools. Additionally, as the need for highly qualified medical professionals to operate these grows, there are more job opportunities in the area.

Europe is expected to grow at a CAGR of 13.8% during the forecast period. The European Resuscitation Council (ERC), the association of anesthetists of Great Britain and Ireland (AAGBI), and the Intensive Care Society in the United Kingdom recommended the use of capnography devices. Increases in the prevalence of diseases like respiratory, cardiovascular, and asthma and surgeries in Europe, particularly in the UK, France, Germany, Italy, Spain, and other parts of Europe, are also expected to fuel the capnography device market. In addition, the market is expanding due to the expanded use of capnography in X-ray rooms, endoscopic suites, onsite emergency rooms, and trauma centers. It is anticipated that rising disposable income and increased healthcare spending by public and private organizations will fuel market expansion.

Asia-Pacific region includes India, China, Japan, South Korea, Australia, and the rest of Asia-Pacific. Due to the existence of significant untapped opportunities like expanding healthcare budgets and increases in disposable income, these countries present lucrative opportunities for players operating in the capnography market. The aging population's increased demand for advanced capnography devices also supplements the growth. Micro stream capnographs and mainstream multi-gas monitors with integrated molecular spectroscopy and photodetectors have made capnography devices more precise, safe, and capable of collecting a larger volume sample than earlier models. Additionally, technological advancements have made capnography devices portable and automatic, expanding their use beyond hospital settings and into homes to monitor patients with severely compromised pulmonary function. As a result of the growing acceptance of patient home monitoring, the market is expected to expand over the forecast period.

Brazil, South Arabia, South Africa, and the rest of LAMEA are all included in LAMEA regional analysis. Opportunities like the rise in surgical procedures, COPD, and ineffective healthcare facilities are anticipated to drive this region's market growth. Advanced capnography devices are also anticipated to become more popular due to the region's expanding economy and private healthcare industry. Brazil was the largest stakeholder in 2021 due to the increased demand for plastic surgery operations and the development in medical tourism, particularly for plastic or cosmetic surgery. Brazil is the largest shareholder in the market, according to a recent ISAPS (International Society of Aesthetic Plastic Surgery) survey on all plastic surgery procedures performed in LAMEA.

Segmental Analysis

The global capnography market is segmented by product, application, and end-user.

Based on the product, the global capnography market is bifurcated into capnographs and capnography disposables.

The capnographs segment is the highest contributor to the market and is expected to grow at a CAGR of 14.10% during the forecast period. A capnograph is a device that measures and records the amount of carbon dioxide exhaled while providing numerical and graphical readings. It is frequently used to track end-tidal CO2 levels (ETCO2). It aids in respiratory distress diagnosis. Additionally, the most popular method for measuring ETCO2 is infrared absorption (IR). The theory is based on the observation that CO2 molecules absorb energy from specific wavelengths of infrared light, with the amount of energy absorbed directly correlated with the concentration of CO2. 

In addition, the electronic signal from a photodetector can be obtained by passing an IR light beam through a sample of CO2 gas. This signal is then calibrated to accurately reflect the concentration of CO2 in the sample compared to the energy of the IR source. The prevalence of asthma and chronic obstructive pulmonary disease (COPD) is also increasing, which is a significant factor in the market's growth. Another significant factor driving market expansion is the rise in demand for capnography devices for safe treatment and long-term lung disease-related illnesses.

The use of disposable capnography equipment, such as sampling lines, capnography masks, tubes, and disposable detectors, is widespread, particularly in times of crisis. Users can quickly identify airway obstruction and other ventilation problems with sampling lines and get feedback on emergency care patients' breathing and ventilator status. Additionally, Capnomask can detect conditions like hypoventilation and airway obstruction. The colorimetric ETCO2 disposable detector, which measures the percentage of carbon dioxide in exhaled gases semi-quantitatively using a numerical scale, is helpful in adults and children. Furthermore, end-tidal CO2 detectors offer unbiased proof of the tube's location in the trachea.

Based on the application, the global capnography market is bifurcated into procedural sedation, pain management, emergency medicine, critical care, and general floor.

The procedural sedation segment owns the highest market share and is expected to grow at a CAGR of 14.7% during the forecast period. Short-acting analgesic and sedative medications are used during procedures to help clinicians work efficiently while closely monitoring patients for potential side effects. The preferred term for this process has changed from conscious sedation to procedural sedation because effective sedation frequently affects consciousness. During diagnostic or therapeutic procedures, a lot of patients need to be sedated. Furthermore, procedure sedation should keep patients safe while reducing their awareness of themselves and their discomfort. Only medical professionals skilled in dealing with complications, such as cardiorespiratory compromise, should use these techniques. A complete history should be obtained, and a thorough physical examination should be carried out, paying close attention to the choice of pharmacologic agents.

The medical specialty known as emergency medicine focuses on diagnosing and treating unanticipated illnesses or injuries. In addition, the practice of emergency medicine includes the initial assessment, diagnosis, and treatment of patients who require urgent medical, surgical, or psychiatric attention and the coordination of care among various providers. Emergency medicine can be delivered in various locations, including telemedicine, emergency medical response vehicles, urgent care centers, observation medicine units, hospital-based and freestanding emergency departments (EDs), and urgent care clinics.

Based on the end-user, the global capnography market is bifurcated into hospitals and ambulatory surgical centers.

The hospital segment is the highest contributor to the market and is expected to grow at a CAGR of 14.6% during the forecast period. A hospital is a place of health care that offers patient care using specialized medical and nursing staff and medical supplies. Hospitals are well-equipped with capnography monitoring devices to help with surgical procedures, cardiovascular diseases, and respiratory diseases like asthma, pulmonary embolism, and chronic obstructive pulmonary disease (COPD). In addition, capnographs come in the mainstream, sidestream, and micro stream varieties. They also have the necessary disposables and accessories to support hospital capnography monitoring. 

Furthermore, capnography equipment is being used more and more frequently in hospital environments for both intubated and non-intubated procedures like procedural sedation, postoperative monitoring of patients receiving opioid analgesia, ICUs, and resuscitation. Hospitals hold a sizable portion of the capnography market. Healthcare regulations, hospital partnerships, and the production of capnography devices all contribute to the market's favorable environment.

Ambulatory surgery centers (ASCs) are hospitals that provide patients with the comfort of having surgeries and other procedures safely completed outside of a hospital setting. Two doctors founded the first such facility in Phoenix, Arizona, in 1970 to create a high-quality, reasonably priced substitute for inpatient hospital care for surgical services. Patients who have already visited a doctor and decided that surgery is the best course of action for their condition are treated in ASCs. This allows patients to address concerns with the physician operator, who has firsthand knowledge of each patient's situation, rather than with hospital administrators.

Recent Developments

• January 2023- A new robotic track system for the BD Kiestra microbiology laboratory solution was unveiled by BD (Becton, Dickinson and Company), a leading medical technology provider worldwide. This system automates the processing of lab specimens, which could help to cut down on manual labor and the time it takes to get results.
• June 2022- GE Healthcare and Medtronic Partnership accelerated global access to personalized care by delivering Advanced Patient Monitoring Solutions on the CARESCAPE Platform.