Asia-Pacific Capnography Devices Market To Expand Massively in Coming Years

From $422.1 million in 2020, the global capnography devices market value is predicted to surge to $736.6 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 5.7% from 2020 to 2030 (forecast period). The major factors driving the expansion of the market are the growing incidence of respiratory diseases, mushrooming population of geriatric people, rapid technological advancements and innovations in capnography devices, and increasing implementation of favorable government initiatives all over the world. 

In recent years, the incidence of respiratory illnesses, such as pulmonary embolism, asthma, and chronic obstructive pulmonary disease (COPD), has increased massively. As per the study named ‘The Global Burden of Diseases’ conducted by the World Health Organization (WHO), the number of people suffering from COPD is expected to surge sharply in the coming years. The study reported that there were nearly 3.17 million deaths because of COPD in 2015, and this number grew to 3.23 million in 2019. 

According to the World Population Ageing 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. Geriatric people are susceptible to respiratory illnesses, owing to their weaker lungs and cardiovascular systems than young individuals, and thus, their surging population is augmenting the need for capnography devices. 

Geographically, North America dominated the capnography devices market in the years gone by. This was because of the high incidence of respiratory medical conditions, existence of major market players providing capnography devices, improving healthcare infrastructure, and high public awareness of these devices in the region. Whereas, the Asia-Pacific (APAC) region is predicted to be the fastest-growing region in the industry in the years to come because of the soaring requirement for improved respiratory monitoring systems, rising public awareness about these devices, and surging cases of preterm birth in the region. 

Hence, the sales of capnography devices will rise tremendously in the coming years, mainly because of the rising incidence of respiratory diseases and surging geriatric population all over the globe.