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Extracorporeal CO2 Removal Devices Market is expected to reach US$ 170.54 million by 2030

The extracorporeal CO2 removal devices market is foreseen to reach US$ 170.54 million by 2030 | Research covers key categories, end users, and regions

By The Insight Partners

Instrument Segment Expected to Hold Significant Extracorporeal CO2 Removal Devices Market Share During 2022–2030

According to our latest study on " Extracorporeal CO2 Removal Devices Market Forecast to 2030 – Global Analysis – Product, Application, and End User," the market is expected to reach US$ 170.54 million by 2030 from US$ 99.93 million in 2022.

The report emphasizes the key factors driving the market and prominent players' developments. Factors such as the increasing cases of chronic obstructive pulmonary diseases (COPD) and the growing geriatric population propel the extracorporeal CO2 removal devices market growth. However, risks of complications during extracorporeal CO2 removal therapy impede the growth of the market.  

To get sample Copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/sample/TIPMD00002259

Extracorporeal CO2 removal devices are an efficient therapy for patients with hypercapnic respiratory failure. They can enable doctors and healthcare professionals to improve lung protective ventilation. Extracorporeal CO2 removal devices can remove enough CO2 to reduce alveolar minute ventilation by 50%, significantly reducing the partial pressure of carbon dioxide (PaCO2). Therefore, various advantages of extracorporeal CO2 removal devices are expected to increase the overall market development. Factors such as the high burden of COPD and other respiratory diseases and increasing product approvals are facilitating the expansion of the extracorporeal CO2 removal devices market. However, the risk of complications during extracorporeal CO2 removal therapy hampers the growth of the market. In addition, new advanced technologies are expected to bring new extracorporeal CO2 removal devices market trends in the coming years.

In recent years, technological improvements and strategies have reduced the complexity and size of extracorporeal CO2 removal devices. A gradual increase in technological advancement has facilitated the growth of security and acceptance of these devices. Various technological advancements have made extracorporeal CO2 removal devices feasible and easy, providing further options to assist patients with severe respiratory diseases and high mortality risk.

  • In November 2021, ALung Technologies received FDA de novo clearance for its Hemolung respiratory support system, the first extracorporeal carbon dioxide removal device.
  • In November 2020, X-COR Therapeutics closed a financing round of around US$ 2.6 million. The company intends to use these funds to develop its products further, including ECCO2R devices.
  • In April 2020, an emergency use authorization (EUA) was received by ALung Technologies from the US Food and Drug Administration for the hemolung respiratory assist system (RAS) to treat COVID-19.

Therefore, such strategic initiatives are expected to boost the extracorporeal CO2 removal devices market growth.

Extracorporeal CO2 Removal Devices Market, by Product:

Based on the product, the extracorporeal CO2 removal devices market analysis is carried out by considering the following segments: extracorporeal CO2 devices and consumables. The extracorporeal CO2 devices segment held a larger market share in 2022. The consumables segment is anticipated to register a higher CAGR of 7.6% during the forecast period. Due to technical simplification, extracorporeal CO2 removal devices require a few personnel and logistics, thereby increasing patient preference. This led the extracorporeal CO2 removal devices segment to secure its market position.

The process of extracorporeal CO2 removal requires a fresh set of consumables for every patient, owing to which there is a high demand for consumables in various COPD and ARDS-related procedures. Thus, the extracorporeal CO2 removal devices market size for the consumables segment is expected to continue to grow during the forecast period.  

Extracorporeal CO2 Removal Devices Market, by Application:

By application, the market is segmented into acute respiratory distress syndrome, chronic obstructive pulmonary disease, and others. In terms of revenue, the chronic obstructive pulmonary disease segment dominated the extracorporeal CO2 removal devices market share in 2022. The acute respiratory distress syndrome segment is anticipated to register the highest CAGR of 7.7% during the forecast period. Increasing awareness of ARDS and its early detection has resulted in more patients being diagnosed and treated, resulting in greater demand for extracorporeal CO2 removal devices tailored for ARDS management. As a result, healthcare providers have become more confident in incorporating extracorporeal CO2 removal devices into their ARDS treatment protocols.

Extracorporeal CO2 removal devices allow a reduction in respiratory rate and tidal volume, resulting in a prolonged expiratory time that is better adapted to the high expiratory time constant of the respiratory system. According to the British Lung Association, there are around 1.2 million people in the UK living with diagnosed COPD. Therefore, the increasing prevalence of COPD is predicted to accelerate the extracorporeal CO2 removal devices market globally.

Extracorporeal CO2 Removal Devices Market, by End User:

The extracorporeal CO2 removal devices market, by end-user, is categorized into hospitals and clinics, ambulatory surgical centers, and others. The hospitals and clinics segment held the largest market share in 2022 and is anticipated to register the highest CAGR of 7.4% during the forecast period. Hospitals, particularly those with specialized intensive care units (ICUs) and respiratory facilities, are equipped to care for the most seriously ill patients. In addition, hospitals typically have multidisciplinary teams of healthcare professionals, including pulmonologists, critical care physicians, respiratory therapists, and perfusionists, who work together to treat patients with complex respiratory needs. This expertise is essential for the safe and effective use of ECCO2R devices. Therefore, the segment is expected to grow strongly in the coming years.

Extracorporeal CO2 Removal Devices Market, by Geography:

The scope of the extracorporeal CO2 removal devices market report encompasses North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). North America held the largest market share in 2022, owing to the improved healthcare infrastructure and high adoption of extracorporeal CO2 removal devices, especially during the COVID-19 pandemic in the US and Canada. Nevertheless, Asia Pacific is expected to witness the fastest growth rate of 7.3% during the forecast period.

The growth is due to a large patient pool, growing awareness of acute respiratory failure, and increasing government healthcare spending in developing countries such as India and Japan. Further, multinational companies look forward to investing in developing countries like China, thereby boosting the market in the region.

Apart from factors driving the market, the extracorporeal CO2 removal devices market report emphasizes prominent players' developments. Getinge, ALung Technologies, Inc.; Estor, NovaLung GmbH, Hemodec, Baxter Healthcare, Eurosets, LivaNova, Medtronic, and Xenios AG are among the prominent players in operating in the market.

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