Capnography Devices Market – Overview
Substantial evidence of efficacy of capnography to measure the concentration of CO2 in respiratory gases to investigate several respiratory diseases is promising for the demand of capnography devices. In terms of function, capnography devices - available in a number of product types - precisely measure the level of CO2 discharged into the bloodstream. Capnography devices graphically display the readings of expiratory CO2 plotted against time.
World over, incidence of respiratory diseases such as COPD and pulmonary embolism is on the rise that requires intensive respiratory monitoring. Besides this, expanding geriatric population who are at a high risk of respiratory infections, lung diseases require reliable monitoring of CO2 concentrations in the respiratory gases for treatment. Furthermore, improved postoperative outcomes, long-term benefits, and rapid turnaround time of capnography devices leads to uptick in demand for capnography devices. This collectively creates opportunities in the capnography devices market.
North America is at the forefront among other key regions in the capnography devices market. Primarily, favorable medical reimbursement scenario for respiratory monitoring solutions accounts for sizeable demand for capnography devices in the region. Moreover, government healthcare policies pertaining to basic and specialist medical care for individuals, which includes respiratory care is indirectly favorable to the capnography devices market in the region.
Global Capnography Devices Market: Overview
Capnography is the process of measuring extensively and displays the concentrations or partial pressure of carbon dioxide (CO2) in respiratory gasses with the help of capnograph. The process precisely measures the level of CO2 released into the bloodstream. The readings are displayed as graphically as expiratory CO2 which is plotted against time or expired volume called capnogram. There are many products available in the market that are used to measure the CO2 levels in arterial blood. This, as a result, is accelerating the growth of global capnography devices market. The growth shall also be attributed to the ability of devices to work in any presented situation and user-friendly functioning. The market capnography devices is also driven by health awareness among the users.
A report by Transparency Market Research (TMR) provides a detailed global capnography devices market. According to the report, the market tends to experience remarkable growth in the coming years. It offers crucial insights on various facets of the market including key trends, notable developments, competitive landscape, and regional dominance of global capnography devices market.
Global Capnography Devices Market: Notable Developments and Competitive Landscape
In order to achieve a competitive edge over their competitors, the key players of global capnography devices market are adopting strategies such as partnerships, mergers, and collaborations. They are also getting involved in the acquisition of various small businesses in order to expand their production and profit margin. For instance;
- In February 2018 Medtronic Plc. And Leigh Valley Health Network (LVHN), announced a 5-year strategic partnership plan with an aim to cover approximately 70 critical medical conditions and reduce the collective cost of treatment for 5,00,00 patients by US$ 100 mn.
- In February 2017, Masimo Corporation announced it U.S Food and Drug Administration (USFDA) clearance. The company also announced the worldwide release of the entire product line of its NomoLine capnography devices.
- IntelliVue X3 is launched in capnography devices market by Koninklijke Philips N.V in June 2017 in Europe. This device is designed for uninterrupted monitoring during the transfer of patient and at the bedside of critical patients.
The global capnography market is dominated by some of the prominent players across the globe. Some of the major players of this market are Diamedica (UK) Limited, Shenzhen Comen Medical Instruments Co. Ltd., Edan Instruments Inc., Medtronic Plc, Masimo Corporation, and Koninklijke Philips N.V.
Global Capnography Devices Market: Key Drivers
Rapid growth in respiratory diseases is one of the major driving factors for the growth of global capnography devices market. Also, increasing cases of diseases like chronic obstructive pulmonary disease (COPD), pulmonary embolism, and asthma, which urges for the need of intensive respiratory monitoring, is influencing the growth of global capnography devices market. Moreover, the increase in geriatric population being extensively susceptible towards the developing lung disease shall also help the capnography devices market to grow across the globe. Additionally, the benefits such as better optimization of postoperative outcomes, improved overall efficiency, long-term efficacy, and rapid response time of capnography devices are likely to help the global capnography devices market to grow in the forecast period of 2018 to 2026.
Global Capnography Devices Market: Regional Dominance
The global capnography devices market shall experience maximum growth in the region of North America in terms of revenue. This is because of the prevalence of various respiratory disease result of unhealthy lifestyles and high-stress levels of the people of the region. Moreover, incorporation of various reimbursement models reserved for respiratory and monitoring solutions and procedures shall also influence the growth of capnography market in the region. The growth of the market shall also be influenced by stringent regulations pertaining to medical efficiency, patient’s safety and clinical efficiency in the region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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