Extracorporeal CO2 Removal Devices Market Analysis and Opportunities by 2030

[Research Report] The extracorporeal CO2 removal devices market is projected to grow from US$ 99.93 million in 2022 to US$ 170.54 million by 2030; the market is estimated to record a CAGR of 6.9% during 2022–2030.

Market Insights and Analyst View:

Factors such as the increasing cases of chronic obstructive pulmonary diseases (COPD) and growing geriatric population propel the extracorporeal CO2 removal devices market growth. However, strict mandates related to extracorporeal CO2 removal devices impede the growth of the market.

Extracorporeal CO2 removal devices are safe, effective, and feasible. The use of extracorporeal CO2 removal devices for ventilatory support has been suggested in clinical situations where they may be useful in addressing the exacerbations of COPD and acute respiratory distress syndrome. Several manufacturers focus on developing technologically advanced and innovative extracorporeal CO2 removal devices and strengthening their market position. Further, an increasing number of elderly people prone to COPD are being cannulated to extracorporeal CO2 removal devices to improve their survival rates. Therefore, the increasing incidences of pulmonary obstructive diseases are among the factors contributing to the growing extracorporeal CO2 removal devices marketsize. On the contrary, the use of extracorporeal CO2 removal devices carries the risk of infection, hypoxemia, or thrombosis arising from restricted blood flow through the circulatory system can lead to serious health problems and pose a long-term challenge to the market expansion.

Growth Drivers:

Increasing Cases of Chronic Obstructive Pulmonary Diseases Drives Extracorporeal CO2 Removal Devices Market

According to the Burden of Disease Study in 2019, 212.3 million cases of COPD and 3.3 million COPD-related deaths were documented globally. One of the major reasons for respiratory diseases such as COPD is the growing air pollution. Further, the Organization for Economic Co-operation and Development (OECD) states that the global emissions of greenhouse gases are expected to surge by ~50% by 2050, owing to an increase in CO2 emissions to 70%. In addition, it estimated that the atmospheric concentration of greenhouse gases could reach 685 parts per million (ppm) CO2 equivalent by 2050, which would cause average temperatures to rise 3–6°C above pre-industrial levels.

In January 2021, as per the study published in the journal PLoS ONE, about 2.6 million people in France suffered from COPD. By 2025, this number is expected to rise to 2.8 million. According to 2022 statistics published by National Health Science, approximately 1.17 million people were diagnosed with COPD in England in 2020–21, representing 1.9% of the total population. According to the WHO, COPD is considered the third leading cause of death worldwide, causing approximately 3.2 million deaths in 2022. Additionally, more than 11 million people in the US are diagnosed with COPD each year, according to the American Lung Association. Therefore, the high burden of COPD in the population increases the demand for extracorporeal CO2 removal devices for vitalization of blood flow and efficient gas exchange, thereby driving the extracorporeal CO2 removal devices market growth.

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Extracorporeal CO2 Removal Devices Market: Strategic Insights

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Report Segmentation and Scope:

The “extracorporeal CO2 removal devices market analysis” has been carried out by considering the following segments: product, application, and end user.

Segmental Analysis:

By application, the extracorporeal CO2 removal devices market is segmented into acute respiratory distress syndrome, chronic obstructive pulmonary disease, and others. The chronic obstructive pulmonary disease segment held the largest 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 a 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. The increasing prevalence of COPD is, therefore, predicted to accelerate the extracorporeal CO2 removal devices market worldwide.

The extracorporeal CO2 removal devices market, by product, is divided into 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 for the consumables segment is expected to continue to grow during the forecast period.

By end user, the market is categorized into hospitals and clinics, ambulatory surgical centers, and others. The hospitals and clinics segment held the largest extracorporeal CO2 removal devices 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.

Growing Technological Advancements to Accelerate Extracorporeal CO2 Removal Devices Market

Smaller extracorporeal CO2 removal devices are less invasive and more comfortable for patients. They often require smaller vascular access, reducing the risk of complications. As patients are not tied to large, immobile devices, they can experience greater mobility and comfort, which results in improving the entire quality of treatment. Advances in membrane technology have significantly improved the effectiveness and efficacy of extracorporeal CO2 removal devices. They selectively allow the diffusion of CO2 while retaining important blood components such as red blood cells and proteins. This selectivity minimizes the risk of hemolysis and other blood-related complications.

As there is a greater need to maintain quality of life in the geriatric population due to their deteriorating health conditions, extracorporeal CO2 removal devices play an important role in providing less invasive and gentler respiratory support. Technological advances in extracorporeal CO2 removal (ECCO2R) have led to the development of more user-friendly and portable devices. As its benefits are increasingly recognized, ECCO2R is increasingly being incorporated into treatment plans for older adults. Thus, growing technological advancements will likely bring new extracorporeal CO2 removal devices market trends in the coming years.

Regional Analysis:

The scope of the extracorporeal CO2 removal devices market report entails North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa.

In 2022, North America held the largest extracorporeal CO2 removal devices market share. The market growth in this region is driven by improved healthcare infrastructure and high adoption of extracorporeal CO2 removal devices, especially during the COVID-19 pandemic in the US and Canada. Early adoption of new technologies and a large patient pool for ARDS and COPD are expected to accelerate the growth of the market in the region. The increasing incidence of chronic respiratory diseases and preference for safe and rapid minimally invasive ventilators are further expected to accelerate the growth of the extracorporeal CO2 removal devices market during the forecast period.

The extracorporeal CO2 removal devices market in Europe is expected to occupy the second-largest share of the global market. This is due to the increasing demand for healthcare devices coupled with the increasing prevalence of chronic diseases such as respiratory failure in the region. Further, favorable reimbursement policies, increasing government investments in long-term healthcare, and growing healthcare research infrastructures are increasing the utilization rates of extracorporeal CO2 removal devices.

The extracorporeal CO2 removal devices market in 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 and thereby boosting the market growth in the region.

Extracorporeal CO2 Removal Devices Market Regional Insights

The regional trends and factors influencing the Extracorporeal CO2 Removal Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Extracorporeal CO2 Removal Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Extracorporeal CO2 Removal Devices Market Report Scope

Extracorporeal CO2 Removal Devices Market Players Density: Understanding Its Impact on Business Dynamics

The Extracorporeal CO2 Removal Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Extracorporeal CO2 Removal Devices Market are:

1. Getinge
2. ALung Technologies, Inc.
3. Estor
4. NovaLung GmbH
5. Hemodec

Disclaimer: The companies listed above are not ranked in any particular order.

Industry Developments and Future Opportunities:

The extracorporeal CO2 removal devices market forecast can help stakeholders in this marketplace plan their growth strategies. A few strategic developments by leading players operating in the market are listed below:

• In October 2022, ALung Technologies evaluated the safety and effectiveness of using the hemolung respiratory assist system (RAS) for low-flow extracorporeal CO2 removal (ECCO2R) as an alternative or adjunct to invasive mechanical ventilation for patients requiring respiratory support due to acute exacerbations of chronic obstructive pulmonary disease (COPD).
• In March 2022, Respira Labs, a US-based respiratory health technology company, launched Sylvee. This AI-powered wearable lung monitor uses acoustic resonance to assess lung function and identify lung volume fluctuations. It can help detect and treat chronic obstructive pulmonary disease, asthma, and COVID-19.
• In May 2021, ALung Technologies, Inc. received FDA clearance for its next-generation Hemolung RAS extracorporeal CO2 removal system, designed to provide respiratory support to patients with acute respiratory failure.
• In May 2020, ALung Technologies, Inc. announced the commercial development of the next-generation artificial lung called the hemolung RAS.

Competitive Landscape and Key Companies:

Getinge, ALung Technologies, Inc.; Estor, NovaLung GmbH, Hemodec, Baxter Healthcare, Eurosets, LivaNova, Medtronic, and Xenios AG are among the prominent companies profiled in the extracorporeal CO2 removal devices market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.