A mainstream gas monitoring system and method that includes a using a mainstream airway adapter, and a gas sensing assembly associated with the mainstream airway adapter to measure an analyte of a gas flow through the adapter. A gas sensing portion outputs a signal indicative of the analyte in a gas flow in the mainstream airway adapter. A processing portion receives the signal from the gas sensing portion and determines an amount of the analyte in the gas flow based on the signal from the gas sensing portion. The processing portion also compensates for volumetric differences between the gas flow during inspiration and the gas flow during expiration to maximize the accuracy in the measurements made using such a system and method.
