CAPNOGRAPHY EQUIPMENT MARKET ANALYSIS

The global capnography equipment market was valued US$ 360.8 Mn in 2024 and is expected to reach US$ 506 Mn by 2031 growing at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.

Capnography equipment is used to measure the concentration of carbon dioxide (CO2) in the respiratory gases, which is a critical indication of the patient's ventilatory status. It is commonly used in medical settings such as hospitals, ambulances, and operating rooms and is considered a standard of care for anesthesia and sedation monitoring.

Analyst View:

The global capnography equipment market is poised to grow steadily over the next few years. The market is driven by the increasing demand for patient monitoring solutions during anesthesia delivery and intensive care. Rising cases of chronic respiratory diseases and the growth in the number of surgical procedures being performed worldwide will further aid the adoption of capnography equipment. However, the high cost of capnography devices and limited medical reimbursements in developing regions may hamper market growth to some extent.

North America currently dominates the capnography equipment market and is expected to continue its leadership during the forecast period. This can be attributed to the advanced healthcare infrastructure and high purchasing power in the region. However, the capnography equipment market in Asia Pacific is likely to grow at the fastest pace in the coming years. This is because of increasing expenditure on healthcare, the growing medical tourism industry, and rising awareness about patient monitoring solutions in the emerging countries of China and India. Capnography equipment providers should focus on developing affordable products to expand in price-sensitive regions. They could also offer product upgrades, training, and maintenance programs to capture repeat sales from existing customers. Partnerships with hospitals, ambulatory surgical centers and other end users will help create solid demand.

Global Capnography Equipment Market Regional Insights

• North America: North America is the largest market for capnography equipment, accounting for a share of over 33.5% in 2024. North America, has well-established healthcare systems and access to advanced techniques. Increasing usage of capnography equipment in hospitals and emergency medical service is expected to drive the growth of the region over the forecast period.
• Europe: Europe is the second-largest market for capnography equipment, accounting for a share of over 26.1% in 2024. Technological advancements in capnography equipment are expected to drive the growth of the region over the forecast period.
• Asia Pacific: Asia Pacific is the fastest-growing market for capnography equipment, accounting for a share of over 20.3% in 2024. The development of integrated and multi-parameter monitors with capnography is expected to drive the growth of the region over the forecast period.

Figure 1. Global Capnography Equipment Market Share (%), by Region, 2024

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Global Capnography Equipment Market Drivers:

• Increasing prevalence of asthma: Increasing prevalence of asthma is expected to boost growth of the global capnography equipment market over the forecast period. For instance, according to data published on May 2, 2023, by CNBC, in 2022, 35 million people suffered from asthma in India.
• Increasing use of portable capnography devices: Increasing use of portable capnography devices is expected to drive the growth of the market over the forecast period. For instance, in March 2021, Masimo, a global medical technology company that develops, manufactures, and markets non-invasive patient monitoring technologies, hospital automation solutions, home monitoring devices, announced the findings of an observational, retrospective study published in Pediatrics International. In the study, researchers at the Osaka Women’s and Children’s Hospital in Japan found the Masimo EMMA Portable Capnograph “useful for assessment of the respiratory condition in children with tracheostomy.” 1 EMMA provides seamless mainstream capnography for patients of all ages in a compact, easily portable device. The device requires no routine calibration and minimal warm-up time, with accurate end-tidal carbon dioxide (EtCO2) and respiration rate measurements and continuous EtCO2 waveforms displayed within 15 seconds.
• Technological advancements in capnography equipment: Technological advancements are significantly driving the growth of the global capnography equipment market. Capnography equipment has evolved tremendously over the years with continuous enhancements in sensor design and integrated side-stream and mainstream sampling technology. Advanced sensors are able to provide more accurate end-tidal carbon dioxide measurements with fast response times. This has allowed physicians to detect ventilation problems early and treat patients more effectively.
• Favorable government initiatives and investments to enhance patient monitoring: Governments across the globe are increasingly focusing on enhancing patient monitoring and quality of care. Several favorable initiatives and investments are being made to drive the adoption of capnography equipment in hospitals and clinics. Capnography allows clinicians to continuously monitor a patient's carbon dioxide levels during procedures like surgeries, intubations, or sedation. This helps detect any complications at an early stage and enables timely interventions.

Global Capnography Equipment Market Opportunities:

• Product approval: Increasing product approval by regulatory bodies is expected to drive the growth of the market over the forecast period. For instance, in September 2020, Capsule Technologies, Inc., a global provider of medical device integration, clinical surveillance, and patient monitoring for hospitals, announced that the U.S. Food and Drug Administration (FDA) had granted clearance for its capnography monitoring solution Vitals Plus with the Masimo NomoLine ISA COâ‚‚ Module.
• Increasing adoption of microstream capnography technology: The increasing adoption of microstream capnography technology presents a major opportunity in the global capnography equipment market. Microstream capnography utilizes a smaller, lighter sampling line that provides greater patient mobility and comfort compared to conventional mainstream capnography techniques. This technology is gaining more popularity among healthcare providers as it allows for more accurate end-tidal carbon dioxide monitoring outside of the operating room environment.
• Use of sidestream capnography technology in emergency medical transport vehicles and ambulances: The use of sidestream capnography technology in emergency medical transport vehicles and ambulances can help capture a major share of the global capnography equipment market. As per the World Health Organization, road accidents account for nearly 1.3 million deaths globally each year. Timely medical assistance and monitoring of vital signs are crucial for reducing mortality and improving outcomes for road accident victims. Sidestream capnography allows for non-invasive monitoring of end-tidal carbon dioxide levels of patients being transported in ambulances. This gives paramedics and emergency medical technicians real-time visibility of the respiratory status and circulation which can guide intervention if required.
• Increasing prevalence of respiratory disease: Increasing prevalence of respiratory disease is expected to drive the growth of the market over the forecast period. For instance, according to data published in December 2022 by the world health organization (WHO), over 649 million confirmed cases of chronic obstructive pulmonary disease (COPD) and over 6.6 million deaths have been reported globally in 2022.

Global Capnography Equipment Market Trends:

• Increasing adoption of inorganic growth strategies such as collaboration: Increasing adoption of inorganic growth strategies such as collaboration is expected to drive the growth of the market over the forecast period. For instance, in January 2022, Imperial College London, a public research university in London, England, announced collaboration with the Universities of Cambridge and Surrey to support the rollout of portable monitors to U.K schools as part of project CO-TRACE, which is funded by the Engineering and Physical Sciences Research Council (EPSRC). The researchers behind the collaboration have produced materials to help teachers use the monitors, which have been rolled out to schools nationwide. The monitors rolled out to schools display levels of CO2 and color coding to indicate good, normal, or poor ventilation. Well-ventilated spaces should have CO2 levels consistently below 800 parts per million (ppm), with readings above 1500ppm indicating poor ventilation or overcrowding.
• Research and Development: Increasing research and development activities by key players is expected to drive the growth of the market over the forecast period. For instance, in September 2021, RenJi Hospital, based in China, initiated a clinical trial titled “Capnographic Monitoring Decrease the Incidence of Hypoxia of the Elderly Patients Undergoing Gastrointestinal Endoscopy Procedure: a Randomized Multicenter Clinical Trial”. Hypoxia is the most common adverse event in gastrointestinal endoscopes sedated with propofol and sufentanil, especially in elderly people. The aim of this randomized study was to determine whether intervention based on additional capnographic monitoring reduces the incidence of hypoxia in gastrointestinal endoscopes procedures for elderly patients. The study is estimated to be completed in December 2023.
• Growing adoption of capnography equipment in different therapeutic areas, including cardiology, trauma, and emergency care: The adoption of capnography equipment across various therapeutic areas is propelling the global capnography equipment market forward. Capnography, which involves the monitoring of carbon dioxide in exhaled breath, is increasingly being used in cardiology, trauma and emergency care. In cardiology, capnography aids in the assessment of cardiovascular function and perfusion. It allows clinicians to non-invasively detect any issues in gas exchange, circulation or ventilation quickly. This is helping cardiologists and emergency medical professionals optimize patient care and intervene faster in critical situations. The COVID-19 pandemic has further highlighted the benefits of capnography. With more acute respiratory cases requiring ventilator support, capnography proved indispensable in monitoring patient respiration and the efficacy of ventilation. It helped optimize ventilation settings to improve outcomes.                              
• Rising demand for capnography equipment in ambulatory surgical center: The demand for capnography equipment in ambulatory surgical centers has been rising steadily over the past few years. Capnography is increasingly being used in ambulatory surgical centers as it provides continuous, non-invasive monitoring of end-tidal carbon dioxide levels during sedation and anesthesia. This helps anesthesiologists and clinicians quickly identify any issues with ventilation and respiration that could lead to adverse patient outcomes. More procedures are now being performed in ambulatory surgical centers rather than hospitals due to better convenience and lower costs.

Global Capnography Equipment Market Restraints:

• High cost of capnography equipment: The high cost of capnography equipment has been a major restraining factor for the global capnography equipment market. Capnography equipment, such as capnographs, disposables, and integration with ventilators, is an expensive medical device that requires substantial capital expenditure. Similarly, single-use nasal and endotracheal cannulas and tubings that are essential consumables for every patient also add to the running costs. This makes capnography products beyond the budget of many small to mid-sized healthcare settings and hampers wider adoption.
• Stringent regulatory policies: Stringent regulatory policies have significantly restrained the growth of the global capnography equipment market in recent years. Regulatory agencies across many countries have imposed very strict rules and guidelines for the approval and commercialization of capnography devices. The approval process has become extremely lengthy and complex as regulators insist on high standards of safety, efficacy, and accuracy data from lengthy clinical trials.
• Lack of awareness and technical skill: The lack of awareness and technical skills is considerably restraining the growth of the global capnography equipment market. Capnography is still not widely understood or utilized by healthcare professionals, even in developed regions. This results in underutilization of capnography, even in critical care areas where it can have significant clinical value. Additionally, using capnography equipment involves technical skills to operate the devices and understanding various waveforms and readings.

Counterbalances: As a result, the key market players need to focus on making less expensive capnography equipment’s.

Recent Developments

New product launches/approval

• In April 2021, Masimo announced the U.S. Food and Drug Administration (FDA) 510(k) approval for its Radius PCG, a portable real-time capnograph with wireless Bluetooth connectivity. Radius PCG wirelessly connects with the Root patient monitoring and connectivity platform to offer easy tetherless mainstream capnography for patients of all ages.
• In June 2022, Medtronic, a medical device company, announced that its Microstream capnography (CO2) and Invos regional oximetry (rSO2) platforms can now be integrated with GE Healthcare’s Carescape.

Acquisition and partnerships

• On June 7, 2023, Sensirion AG, a global manufacturer of sensor solutions for heating, ventilation, gas, and air conditioning technology for medicine and consumer goods, announced a collaboration with ZenMeasure, a medical device company, to create a portable mobile CO2 detector.
• In December 2021, ZOLL Medical Corporation, a company that manufactures medical devices and related software solutions, announced the acquisition of Itamar Medical Ltd, a medical device and digital health company that provides at-home testing for sleep apnea.

Figure 2. Global Capnography Equipment Market Share (%), By Product, 2024

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Top companies in Capnography Equipment Market

• Drägerwerk AG & Co. KGaA
• Masimo Corporation
• Medtronic, Inc.
• Nihon Kohden Corporation
• Nonin Medical, Inc.
• Philips Healthcare
• Smiths Medical
• Welch Allyn, Inc.

Definition: A capnograph is an instrument that measures the carbon dioxide concentration in an air sample. It is most commonly used to monitor the carbon dioxide content of air being delivered to intensive care patients or those under anesthesia. The device can detect respiratory problems such as hypoventilation or when there is a problem with the way anesthesia equipment is being used.