Extracorporeal CO2 Removal Devices Market Growth & Trends
The global extracorporeal CO2 removal devices market size is estimated to reach USD 137.2 million, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.2% from 2022 to 2030. Technological improvements changed extracorporeal techniques for CO2 removal in promising manner to avoid worsening respiratory acidosis and respiratory failure and to possibly shorten or prevent the duration of invasive mechanical ventilation in patients with exacerbation of asthma and COPD.
Extracorporeal CO2 removal devices is considered to be an efficient therapy for patients suffering from hypercapnia respiratory failure and may allow clinicians as well as healthcare professionals to improve lung protective ventilation. Extracorporeal CO2 removal devices can remove adequate CO2 to allow 50% reduction in alveolar minute ventilation resulting into substantial reduction in PaCO2. Hence, various advantages associated with extracorporeal CO2 removal devices is expected to augment the overall market progression.
Extracorporeal CO2 removal devices are effective, safe and feasible. The usage of extracorporeal CO2 removal devices in ventilation support has been suggested in clinical situations where they may be useful, including exacerbation of chronic obstructive pulmonary disease and acute respiratory distress syndrome. Increasing prevalence of COPD across the globe is predicted to accelerate the market growth. According to the British Lung Association, around 1.2 million people are living with diagnosed COPD in the U.K.
Several manufacturers in the market are focusing on developing technological advanced and innovative extracorporeal CO2 removal devices and strengthen its position in the market. For instance, In November 2015, Alung Technologies received Expedited Access pathway (EAP) from the FDA for its Hemolung Respiratory Assist System. In addition, in February 2016, Alung Technologies received USD 12 million financing from existing as well as new investors. This financing helped in commercialization of Hemolung Respiratory Assist System (RAS).
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Extracorporeal CO2 Removal Devices Market Report
Extracorporeal CO2 Removal Devices Market Report Highlights
- The extracorporeal CO2 machines segment held the largest revenue share in 2021 owing to availability of a wide range of extracorporeal CO2 removal devices that may lead to increased demand in hospitals and ambulatory surgical centers
- The COPD segment is expected to hold a considerable market share in 2021 as ECCO2R devices may permit decrease in respiratory rate and respiratory volume, resulting in elongated expiratory time that is better adapted to high expiratory time constant of respiratory system
- The venovenous segment are expected to grow at the fastest rate during the forecast period as it offers less invasiveness by evading arterial cannulation, and has potential for early mobilization of patients
- The hospitals segment is estimated to witness the fastest growth rate over the forecast timeframe owing to rising number of hospitals in developing economies and increasing competition in healthcare service providers
- North America held the largest market share in market and is anticipated to maintain its dominance over the forecast period
- This is attributable to the growing prevalence of COPD, ARDS, and increasing adoption of advanced extracorporeal CO2 removal devices
