Market Analysis
The global carbon dioxide monitors market will touch USD 799.2 million at a favorable 8.7% CAGR by 2030, states the new Market Research Future (MRFR) report.
Drivers
Implementation of Strict Regulations for People’s Safety to Boost Market Growth
The implementation of strict regulations across different industries to ensure the safety of people from potentially toxic gases that are emitted by industrial activities and also the ever-increasing pollution levels have increased the demand for carbon dioxide monitors that in turn is boosting market growth.
Opportunities
Increasing Prevalence of Airborne Disorders to offer Robust Opportunities
The increasing prevalence of airborne disorders like chronic bronchitis and asthma may offer robust opportunities for the market over the forecast period.
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Restraints
High Cost to act as Market Restraint
The high cost related of the system and its maintenance may act as market restraint over the forecast period.
Challenges
Detrimental Effect of COVID-19 to act as Market Challenge
The detrimental impact of the novel coronavirus on different businesses has posed a challenge on the carbon dioxide monitors market growth over the forecast period.
Market Segmentation
The global carbon dioxide monitors market is bifurcated based on product, type, and application.
By product, the carbon dioxide monitors market has been segmented into wall-mounted carbon dioxide (CO2) monitors and pipeline carbon dioxide (CO2) monitors.
By type, the carbon dioxide monitors market has been segmented into end-tidal carbon dioxide (EtCO2) monitors and transcutaneous carbon dioxide (tcpCO2) monitors.
By application, the carbon dioxide monitors market has been segmented into hospital use, scientific research, breweries, greenhouses, underground car parks, office buildings, and others.
COVID-19 Analysis
Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the carbon dioxide monitors market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption. Besides, the initial setback, the industry is likely to return to normalcy during the forecast period and continue growing much beyond also.
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Regional Analysis
North America to Head Carbon Dioxide Monitors Market
North America will head the carbon dioxide monitors market over the forecast period. High usage of advanced technologies, the presence of well-developed infrastructure, the presence of major market participants, and the presence of advanced environment monitoring centers in the region are adding to the global carbon dioxide monitors market growth in the region. Besides, higher adoption of advanced carbon dioxide monitors, early uptake of advanced technologies, and excellent reimbursement frameworks are also adding market growth.
Key Players
Eminent players profiled in the global carbon dioxide monitors market report include Criticare Technologies, Inc., Dräger Medical GmbH, GE Healthcare, OSI Systems, Inc., Invivo Corporation, Masimo Corporation, Medtronic PLC, Mindray DS USA, Inc., Nihon Kohden Corporation, Philips Healthcare, Radiometer Medical ApS, Smiths Medical, Nonin Medical, Inc., and Thames Medical.
Key players have incorporated several strategies to stay at the forefront such as mergers, partnerships, acquisitions, and new product launches, among others.
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