Market Research Future (MRFR) estimates the global carbon dioxide (CO2) monitors market size to reach USD 799.2 Million, registering a CAGR of 8.7% from 2020–2026 (forecast period).
Multiple Factors to Augment Market Growth
One of the primary factors propelling the growth of the carbon dioxide (CO2) monitors market is the increased prevalence of airborne disorders such as asthma and chronic bronchitis among the global population. The implementation of severe regulations across numerous industries to ensure people's safety from potentially harmful gases emitted by industrial activities and ever-increasing pollution levels, accelerates market expansion. The use of monitors to gain precise and quick detection of carbon dioxide before it reaches dangerous toxic levels, and mergers, acquisitions, joint ventures, collaborations, and partnerships, all have an impact on the market. In addition, urbanization and industrialization, research and development, government initiatives, and an increase in public awareness all have a beneficial impact on the carbon dioxide (CO2) monitors market. Furthermore, technological advancements in monitors provide profitable prospects to market participants from 2020 to 2026.
The global carbon dioxide (CO2) monitors industry has been segmented based on product, type, and application.
By product, the global carbon dioxide (CO2) monitors market has been divided into wall-mounted carbon dioxide (CO2) monitors and pipeline carbon dioxide (CO2) monitors.
By type, the global carbon dioxide (CO2) monitors market has been divided into transcutaneous carbon dioxide (tcpCO2) monitors and end-tidal carbon dioxide (EtCO2) monitors.
By application, the global carbon dioxide (CO2) monitors market has been segmented into hospital use, office buildings, scientific research, breweries, greenhouses, underground car parks, and others.
North America to Lead the Global Market
North America led the worldwide industry in 2019 and is likely to continue to do so throughout the forecast period. The increasing number of cases of respiratory failure in this region is predicted to boost the market growth.
MRFR identifies the key players in the global carbon dioxide (CO2) monitors market. These include GE Healthcare, Criticare Technologies, Inc., Dräger Medical GmbH, Invivo Corporation, Masimo Corporation, Medtronic PLC, Nonin Medical, Inc., OSI Systems, Inc., Mindray DS USA, Inc., Philips Healthcare, Nihon Kohden Corporation, Radiometer Medical ApS, Smiths Medical, and Thames Medical.
In February 2021, Lenovo announced its carbon dioxide (CO2) Offset Services in India, enabling users to compensate for toxic carbon emissions from the shipping, manufacture, and usage of select Lenovo products for up to five years at the place of purchase for up to five years. Lenovo's CO2 Offset Services will allow customers to select from a range of projects handled by the United Nations and ClimeCo, a US-based producer of voluntary carbon credits.
In February 2021, UPL Ltd partnered with TeleSense, a US-based internet of things (IoT) innovator, to revolutionize post-harvest grain storage and transport. TeleSense monitors the humidity, temperature, and carbon dioxide (CO2) levels of stored grain using scalable sensor technology on an artificial intelligence (AI) platform. UPL will assist TeleSense in increasing its sales channel by presenting monitoring solutions for post-harvest commodity storage and transport to several stakeholders across the agriculture value chain as part of this collaboration.