Capnography Devices Market To Generate $736.6 Million Revenue by 2030

A number of factors, such as the increasing incidence of respiratory diseases, growing aging population, rising technological advancements in the medical devices industry, and surging government initiatives are expected to drive the capnography devices market at a CAGR of 5.7% during 2020–2030. According to P&S Intelligence, the market was valued at $422.1 million in 2020, and it is expected to generate $736.6 million revenue by 2030. In recent years, partnerships and acquisitions among players have become a key market trend.

One of the key growth drivers for the market is the growing prevalence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD), pulmonary hypertension, and asthma. According to the World Health Organization (WHO), asthma affected approximately 262 million people and accounted for 461,000 fatalities globally in 2019. Furthermore, the WHO states that COPD was responsible for 3.23 million deaths in 2019. To manage such respiratory diseases, physicians and patients are increasingly adopting capnography devices.

Another growth driver for the capnography devices market is the rising technological advancements in such medical devices. Recent technological advancements such as the incorporation of molecular correlation spectrography (MCS) and photo detectors in micro-stream capnography devices and the adoption of miniaturized main-stream multi-gas monitors help in enhancing the safety and accuracy levels in such devices. Additionally, these advancements aid these instruments in adjusting the flow rate, which facilitates the retrieval of large sample volumes and prevents moisture contamination.

Source: P&S Intelligence