A detailed qualitative analysis of factors responsible for driving and restraining the growth of the market and future opportunities have been provided in the market overview section.
New York, NY -- (SBWIRE) -- 07/30/2015 -- The new market report, titled 'Latin America Market Study on Capnography Equipment: Brazil to Witness Highest Growth by 2021' and published by Persistence Market Research, studies the current and future scenario of the capnography equipment market in Latin America. Government bodies and several other esteemed organizations in Latin America highly recommend using capnography in routine hospital settings. Due to such recommendations, the overall market for capnography equipment is growing rapidly in Latin America.
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According to the study report, the capnography equipment market in Latin America is expected to register a CAGR of 17.5% from 2014 to 2021. By 2021, the market is expected to reach US$30.2 million from a value of US$9.7 million in 2014.
The executive summary section of the report describes various segments of the capnography equipment market. The report provides data analysis and information about these segments based on the end use, regions, hospital rooms, products, and applications.
On the basis of products, the capnography equipment market is divided into two major categories, namely disposables and capnographs. The capnographs product segment is further categorized into sidestream capnographs, mainstream capnographs, and micro stream capnographs.
Among all the product segments, the sidestream capnograph segment dominated the capnography equipment market with a share of nearly 52.9% in 2014. Growth of this segment was mainly due to the ability of sidestream capnographs to monitor a patient's condition in a non-intubated situation. Sidestream capnograph adoption increased in Latin America due to the presence of a large number of market players, including local companies, providing sidestream capnograph medical services in their company portfolio. This factor has rapidly increased consumer awareness in hospital settings and thus the demand for capnography equipment in the region.
On the other hand, the micro stream capnograph product segment offers several advantages in all hospital settings due to its cost-effectiveness. Hence, this product segment is projected to experience high growth in Latin America in the forecast period 2014 to 2021.
Capnographs are used for monitoring both neonates and non-intubated patients. However, mainstream capnographs lack the capability to monitor non-intubated patients and sidestream capnographs can't be used to monitor neonatal patients.
According to a 2009 report evaluated by the World Health Organization (WHO) on safe surgery, the use of capnography monitoring is highly recommended during hypoventilation, endotracheal tube placement, and esophageal intubation.
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The Uruguayan Society of Anesthesiologists and the American Society of Anesthesiologists also recommend capnography monitoring during anesthetics and procedural sedation. The impact of the U.S. healthcare system on Latin America's healthcare market is further propelling the capnography equipment market in this region. Such guidelines validate the significance of capnography equipment in a medical environment.
The study report states that Brazil held around 31.4% of the capnography equipment market in 2014. Brazil held the largest share of this market due to rising medical tourism for dental surgeries, plastic surgeries, cardiac procedures, and cosmetic surgeries. Brazil also has a high proportion of GDP expenditure on healthcare as compared to other regions in the world. Thus, Brazil is anticipated to be the fastest growing region in the market for capnography equipment in Latin America in the next few years.
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