In 2018, the global capnography devices market reached a value of $365.6 million and is expected to grow at a CAGR of 4.4% during the forecast period (2019–2025). Various factors responsible for the growth of the market are the increasing government initiatives, technological advancements in capnography devices, and the growing prevalence of respiratory diseases. Capnography devices measure the concentration of carbon dioxide (CO2) in the exhaled air and display the concentration during a respiratory cycle. These devices are used as monitoring tools for the management of anesthesia and in intensive care.
One of the key driving factors of the capnography devices market is the growing prevalence of respiratory diseases. As per the study, The Global Burden of Diseases, conducted by the World Health Organization, about 3.2 million deaths occurred in 2015 due to chronic obstructive pulmonary disease (COPD) worldwide and the number is predicted to grow to 4.5 million by 2030. Since respiratory diseases such as COPD, asthma, and pulmonary embolism, require intensive respiratory monitoring, the requirement for capnography devices is increasing significantly, further resulting in the growth of the market.
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The rising implementation of rules and regulations by the governments to mandate the use of capnography devices is also resulting in the growth of the capnography devices market. The American Society of Gastrointestinal Endoscopy has mandated the utilization of capnography devices for endoscopic retrograde cholangiopancreatography or endoscopic ultrasound procedures. Moreover, the Oregon Board of Dentistry updated Oregon State laws in 2014 in order to include the adoption of capnography-monitoring devices for patients under moderate and deep sedation and general anesthesia. These rules and regulations are leading to the rising adoption of these devices.
Hence, technological advancements, rising implementation of rules and regulation by governments, and increasing prevalence of respiratory diseases are driving the market.
This post was originally published on Software Industry