Newly-released Extracorporeal CO2 Removal Devices Market industry analysis report by Future Market Insights shows that global sales of the Extracorporeal CO2 Removal Devices Market in 2021 were held at USD 91.6 million. With a CAGR of 5.8% from 2022 to 2032, the market is projected to reach a valuation of USD 170.9 million by 2032.
Extracorporeal CO2 Machines is expected to be the highest revenue-generating category, projected to grow at a CAGR of 6.2% from 2022 to 2032.
| Attribute | Details |
|---|---|
| Global Extracorporeal CO2 Removal Devices Market (2022) | USD 97 million |
| Global Extracorporeal CO2 Removal Devices Market (2032) | USD 170.9 million |
| Global Extracorporeal CO2 Removal Devices Market CAGR (2022 to 2032) | 5.8% |
| The USA Extracorporeal CO2 Removal Devices Market CAGR (2022 to 2032) | 6.1% |
| Key Companies Profiled | Medtronic; Getinge AB; Xenios AG; Alung Technologies; ESTOR S.P.A; Medica Spa; Aferectica Srl |
As per the Extracorporeal CO2 Removal Devices Market industry research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value increased at around 5.6% CAGR, wherein, countries such as Germany, the USA, China, and Japan held a significant share in the global market.
The growing usage of advanced analytics in pharma and medical testing are the key factors influencing the adoption of Extracorporeal CO2 Removal Devices. Owing to this, the market is projected to grow at a CAGR of 5.8% over the coming 10 years.
Health systems and Extracorporeal CO2 Removal Devices enterprises to improve treatment, monetary, and sustainability frameworks while minimizing the costs of healthcare are rapidly adopting analytical solutions. Healthcare financing organizations and government bodies are implementing analytics through claim management and fraud prevention, which is fueling market growth.
The growing elderly population and their increased proclivity for various acute and chronic diseases are likely to drive the expansion of the worldwide extracorporeal carbon dioxide removal market.
Furthermore, rising incidences of pulmonary obstructive illness are predicted to aid in the global market's expansion. On the contrary, the risk of infection, hypoxemia, or thrombosis produced by the restricted flow of blood via the circuit may result in severe health issues, posing a long-term challenge to market expansion.
According to the World Health Organization (WHO), around 251 million people worldwide suffer from a chronic pulmonary obstructive condition. The World Health Organization expected that the number of instances of pulmonary obstructive disease would rise due to an increase in smoking among the population, which would raise the global extracorporeal carbon dioxide removal (ECCO2R) device market sales in the coming years.
Furthermore, clinical benefits provided by ECCO2R removal devices, including effective gas exchange, vitalizing blood flow, and strong lung support, are expected to drive the worldwide ECCO2R devices market revenue during the forecast period.
Extracorporeal CO2 removal devices are efficient, safe, and cost-effective. These technologies have been proposed for use in ventilation assistance in clinical settings where they may be effective, such as COPD exacerbation and acute respiratory distress syndrome (ARDS). The rising prevalence of COPD around the world is expected to fuel market expansion.
Extracorporeal CO2 removal devices are an effective therapy for individuals with hypercapnia respiratory failure and may assist clinicians and healthcare partners to improve lung-protective ventilation. These devices can remove enough CO2 to allow for a 50% reduction in alveolar minute ventilation, resulting in a significant reduction in PaCO2. As a result, the multiple benefits connected with these devices are likely to boost the overall market growth.
North America is likely to continue to dominate the global extracorporeal CO2 removal market throughout the analysis period, owing to the early adoption of innovations and a large patient pool of COPD and ARDS patients.
The increased popularity of novel clinical innovations is attributable to the expansion of the regional market. The spread of chronic respiratory illnesses and the flood of demand for quick and safe minimally intrusive ventilation procedures have accelerated the development of the extracorporeal CO2 removal industry in North America.
The United States has been a pioneer in the Extracorporeal CO2 Removal Devices Market. In recent years, the utilization of Extracorporeal CO2 Removal Devices in the USA expanded due to a growing emphasis on the removal of carbon dioxide in the healthcare sector. The increase in the number of specialized clinics in the United States has also provided new opportunities for market participants.
The market in the United Kingdom is expected to reach a valuation of USD 62 million by 2032. Growing at a CAGR of 6.1% from 2022 to 2032, the market in the country is expected to gross an absolute dollar opportunity of USD 27.5 million.
In Japan, the market is projected to garner an absolute dollar opportunity of USD 3.3 million with a CAGR of 7.1% during the forecast period. The market in the country is expected to reach a valuation of USD 6.7 million by 2032.
The market in South Korea is expected to reach a valuation of USD 4.5 million, growing at a CAGR of 5.7% from 2022 to 2032. The market in the country is expected to witness an absolute dollar opportunity of USD 1.9 million during the forecast period.
Extracorporeal CO2 machines accounted for over half of the total extracorporeal CO2 removal devices demand. The market for Extracorporeal CO2 Machines is expected to grow at a CAGR of 6.2%. Advancements in technical simplification have allowed the usage of additional corporeal CO2 removal equipment to accelerate dramatically, reducing some of the primary difficulties connected to ECMO.
Extracorporeal carbon dioxide removal equipment is theoretically simpler and has comparatively fewer staff needs along with logistical requirements,[mg] as patients may prefer them over ECMO.
The leading players in the extracorporeal CO2 removal system market have used various methods to boost growth potential in the coming years. Collaborations, alliances, mergers, product approvals, and novel product launches are some of the primary methods used by leading companies to create growth avenues in the market.
Some of the key players operating in the market include Medtronic, Getinge AB, Xenios AG, ALung Technologies, ESTOR S.P.A., Medica Spa, and Aferectica Srl.
Some of the recent developments in the key Extracorporeal CO2 Removal Devices Market are as follows:
Similarly, recent developments related to companies offering Extracorporeal CO2 Removal Devices Market have been tracked by the team at Future Market Insights, which are available in the full report.
The global market is worth more than USD 91.6 million at present.
The market is expected to witness a CAGR of 5.8% from 2022 to 2032.
North America dominated the Extracorporeal CO2 Removal Devices Market. This is attributable to increased spending on procedures and the easy availability of the products.
The market revenue is being driven primarily by the growing healthcare industry, which has consequently accelerated manufacturing
The top 5 countries driving demand for Extracorporeal CO2 Removal Devices Market are the USA, China, Japan, India, the United Kingdom, and South Korea.
Alung Technologies, Inc., Xenios AG, ESTOR S.P.A, Medtronic Plc., Medica S.P.A., and Getinge Group are among the key players operating in the market.
Explore Therapeutic Device Insights
Extracorporeal CO2 Removal Devices Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
