Transparency Market Research Report Added "Capnography Equipment Market" to its database.
Albany, NY -- (SBWIRE) -- 09/01/2015 -- Worldwide, healthcare practitioners have observed a progressive increase in the incidence of chronic respiratory diseases, 90% of which occur in low-income and middle-income countries, reports the World Health Organization (WHO). The global agency also says that in 2005, about 3 million people succumbed to chronic obstructive pulmonary disease (COPD) worldwide. This alarming increase in the incidence of chronic respiratory diseases creates a conducive environment for the expansion of the global capnography equipment market. A capnograph measures the level of excreted CO2 in the blood stream.
According to a recent study by Transparency Market Research, the global capnography equipment market was valued at US$187.2 million as of 2013, and by 2020, it is expected to reach a valuation of US$615.6 million, registering a CAGR of 18.7% between 2014 and 2020. Companies that boast an established presence in the global capnography equipment market are: Covidien, plc., Masimo Corporation, Dragerwerk AG, Medtronic, Inc., Smiths Medical, and Philips Healthcare.
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Increased Prevalence of Smoking Contributes to Growth of Respiratory Diseases, Creating Opportunities for Capnography Equipment Market Players
The WHO pegs the total number of tobacco smokers in the world at one billion, and further states that about 80% of these individuals reside in low and middle-income countries. Thus, it is easy to see why the rise of respiratory diseases will be the highest in these countries. This points to a massive opportunity that can be effectively monetized by companies operating in the capnography equipment market.
According to recent market studies, the Middle East, Asia Pacific, and Africa regions will all create much scope for the growth of the global capnography equipment market over the next few years. In developed regions in Europe and North America, the growth of the capnography equipment market is supported by a robust regulatory framework that has made it mandatory for healthcare facilities to use capnography equipment.
Overall, the research and development and product launch scenario in the global capnography equipment market remains dynamic with leading market players engaged in a high degree of innovation.
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Side-stream Capnographs Constitute Half of Global Market; Micro-stream Capnographs Lead in Growth Rate Terms
In 2013, side-stream capnographs held about 50% of the total capnography equipment market thanks to their inherent advantages. Some of the factors that weigh in favor of side-stream capnographs as opposed to other types of capnographs are: Lower sterilization need, ability to monitor patients without the need for incubation, ease and convenience of use.
However, it seems very likely that over the next few years, side-stream capnographs will be overshadowed by micro-stream capnographs with the latter expected to register a CAGR of 18.0% between 2014 and 2020. Micro-stream capnographs offer better convenience of use in neonatal patients, increasing their scope of application considerably.
With 60% Share, North America is Undisputed Leader in Capnography Equipment Market; Europe to Expand Rapidly to 2020
From the geographical standpoint, North America represents the largest market for capnography equipment in the world. About 60% of the global capnography equipment market is constituted by the North America region. But in growth terms, Europe will outpace all other regional markets in the next five years. In Europe, the growth of the capnography equipment market has been spurred by an alarming rise in the incidence of respiratory failure, the formulation of supportive regulatory guidelines, and an overall increase in the affordability of capnography equipment.
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About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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