NEW YORK, May 28, 2018 (GLOBE NEWSWIRE) -- According to the new research report published by P&S Market Research, Capnography devices market size is expected to reach $1.5 billion by 2025. The market is mainly driven by growing prevalence of respiratory diseases, technological advancements, and rising government initiatives.
Based on component, the capnography devices market is categorized into original equipment manufacturer (OEM) modules and others. OEM modules held the largest share in this market, accounting for 44.6% in 2017. The largest share is attributed to its ability of making etCO2 or CO2 monitoring simple and accurate, even in the smallest and most portable monitors.
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On the basis of product, the capnography devices market is categorized into hand-held, stand-alone and multi-parameter. During the forecast period, the market is expected to witness highest growth for multi-parameter capnographs, with a CAGR of 19.5%. Multi-parameter capnographs can be integrated into the surgery patient, monitoring routine easily, and some devices can be used as pulse oximeters as well.
Based on technology, the market is categorized into side stream, main stream, and micro stream. Side stream technology is expected to continue holding the largest share in the capnography devices market in the coming years. It accounted for 53.7% share in this market in 2017. This is mainly due to the fact that, this technology is more comfortable for the patients, because the thin tubing that is connected with side stream capnographs is lighter and less bulky than a mainstream version.
Based on application, the capnography devices market is classified into emergency medicine, critical care, procedural sedation, pain management and others. During the historical period, emergency medicine was the largest application area of these devices, with 25.5% contribution in 2017. The use of capnography devices increases the safety of sedating patients in emergency departments.
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In order to increase market share, key players of the capnography devices industry are seeking partnerships and acquisitions to provide more effective solutions. For instance, in February 2018, Medtronic plc and Lehigh Valley Health Network (LVHN), an eight-hospital network in Northeastern Pennsylvania, announced a five-year strategic partnership with the aim to cover more than 70 major medical conditions and reducing the cost of care of 500,000 patients in Northeast Pennsylvania by $100 million. One of the programs aimed to reduce respiratory compromise related adverse events by making use of Microstream capnography technology.
Some of the other key players operating in the capnography devices industry are Diamedica (UK) Limited, Shenzhen Comen Medical Instruments Co., Ltd., Edan Instruments, Inc., Nonin Medical, Inc., Drägerwerk AG & Co. KGaA, Nihon Kohden Corporation, Masimo Corporation, Smiths Group plc, Hill-Rom Holdings, Inc., Koninklijke Philips N.V. and Becton, Dickinson and Company.
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