Global extracorporeal CO2 removal device market was valued at USD 81.1 million in 2020. It is expected to grow at 5.3% compound annual growth rate (CAGR), between 2021 and 2028. New products have been developed to improve blood flow and gas exchange. Several extracorporeal removal devices were approved by regulators during the COVID-19 pandemic. This helped market players increase their product sales. Alung Technologies was granted an Emergency Use Authorization (EUA), by the U.S. FDA, for its Hemolung Respiratory Assist System, (RAS) to treat COVID-19.
COVID-19, a novel coronavirus (SARSCoV-2) that has recently been identified as a major global problem, has caused thousands of deaths and is now a severe epidemic. This disease's main feature was its respiratory manifestation. About 15-20% of patients with confirmed or suspected cases required mechanical ventilation. Since the invention of COVID-19, extracorporeal CO2 removal equipment has been more popular. During the peak period, however, the number and availability of ECMO machines was not sufficient.
The market for these devices is expected to grow significantly due to the increasing demand. Many technological advancements and strategies in recent years have allowed extracorporeal CO2 removal systems to be simplified and smaller. Extracorporeal CO2 removal devices have become more accessible and easier to use thanks to a variety of technical advancements. Market growth is expected to be boosted by technological advances.
These devices can be used for patients suffering from severe COPD exacerbation or to establish ultraprotective or protective measures in patients with ARDS. These devices remove blood and combat the harmful effects of hypercapnia. The WHO estimates that COPD is the third leading cause for death worldwide and was responsible for 3.23 million deaths in 2019. According to the America Lung Association (ALA), more than 11,000,000 people are diagnosed with COPD each year in the U.S. According to the America Lung Association, increasing COPD cases will increase product adoption and thus boost market growth.
In 2020, extracorporeal CO2 machine segment was responsible for 52.3% of the total revenue. The development and potential applications for extracorporeal CO2 extraction machines has been simplified to a great extent, avoiding many of the initial issues associated with ECMO. Extracorporeal CO2 extraction devices are theoretically simpler, require less personnel and logistic requirements, which leads to a higher preference from patients. ECCO2R's increasing market share is expected to result in greater benefits.
Over the forecast period, disposables will grow at a substantial CAGR of 4.87%. Extracorporeal CO2 removal therapy uses disposables per patient basis. This segment is expected to grow because of the high demand and consumption for consumables. The forecast period will see an increase in disposables needed for various COPD- and ARDS procedures. This is expected to boost the demand for extracorporeal CO2 removal equipment.
In 2020, 64.30% of the revenue came from the venovenous segment. Venovenous access involves the extraction of blood from the central vein using a drainage cannula and a centrifugal pump to create flow across the gas exchange membrane. A new generation of extracorporeal CO2 extraction devices has been created in recent years. The new generation of efficient venovenous extracorporeal carbon dioxide removal devices has replaced the arterio-venous procedure. They do not require arterial puncture. This will lead to a rapid growth in the segment.
According to forecasts, the arteriovenous segment will experience the highest CAGR. The blood flows through the arteriovenous extracorporeal carbon dioxide removal devices and into the contralateral vein. The arteriovenous system is a simplified, high-tech membrane lung that features high gas transfer efficiency, low resistance to blood flow and no heat exchanger. The above factors will likely accelerate segment growth.
In 2020, hospitals accounted for the largest revenue share at over 46.36%. The segment is expected to grow due to an increase in hospital admissions, particularly for patients with ARDS, which has been exacerbated by the recent COVID-19 outbreak.
From 2021 to 2028, the segment Ambulatory Surgical Centers will experience a significant CAGR. This is due to rising incidences of acute respiratory failure in rural areas with limited access to healthcare services. ASCs are more accessible to patients, have lower out-of pocket costs and offer lower facility costs. A high preference for ASCs will fuel segment growth.
In 2020, the bridge to lung transplant segment was responsible for more than 40% of all revenue. Extracorporeal CO2 removal devices can be used to bridge patients awaiting lung transplantation who develop life-threatening hypercarbia. Market growth is expected to be accelerated by the increasing focus of manufacturers such as Alung Technologies or Xenios AG on extracorporeal CO2 removal systems for lung transplantation bridge.
These devices are very popular among patients suffering from ARDS. They can remove CO2 and enable lung-protective ventilation by reducing plateau pressures and tidal volume. These devices are useful in managing ARDS. They allow for more protection and ventilation, while avoiding extreme levels of respiratory acidosis.
Asia Pacific will experience the fastest CAGR at 7.24% over the forecast period. Regional market growth is expected to be accelerated by the presence of large patient pools, increased awareness about acute respiratory failure, and increasing government healthcare spending in developing countries like India and Japan. Market growth is encouraged by supportive government initiatives and the high success rate of extracorporeal CO2 extraction devices during respiratory surgery.
There is a large population with low per-capita incomes in the region, which means that there is a high demand for affordable treatment options. Multinational companies are eager to invest in developing countries like China and anticipate regional market growth. The North American regional market will grow if there is improved healthcare infrastructure and increased product adoption, particularly during the COVID-19 pandemic.
Regional market growth will be accelerated by the adoption of new technologies early and a large patient base for ARDS/COPD. Extracorporeal CO2 removal devices will also be in demand due to the rising incidence of chronic respiratory disease. Market growth has been accelerated by the growing preference for minimally invasive and safe ventilation devices.
Europe's market is forecast to grow at the second fastest CAGR of more than 6% over the forecast period. The market is expected to grow due to rising demand for healthcare devices and the increasing prevalence of chronic diseases such as respiratory failure. The market is also being boosted by favorable reimbursement policies, increased government investments in long term healthcare and a growing healthcare research infrastructure.
Companies use a variety of strategies to keep their market share. These include product approvals, new product launches, acquisitions and partnerships, as well as product approvals. Alung Technologies, for example, announced in May 2020 that it had launched the commercialization of the next-generation artificial lungs. Extracorporeal CO2 removal devices manufactured by Hemolung Respiratory Assist System are specifically designed for this therapy. The following are some of the major players in the extracorporeal CO2 Removal Devices market:
Medtronic
Getinge AB
Xenios AG
Alung Technologies
ESTOR SpA
Medica SpA
Aferectica Srl
Up Market Research published a new report titled “Extracorporeal CO2 Removal Devices Market research report which is segmented by End Use (Clinics, ASCs), by Application (ARDS, COPD), by Access (Arteriovenous, Venovenous), By Players/Companies ESTOR SPA, Medtronic, Medica Spa and Aferectica Srl, Alung Technologies, Xenos AG, Getinge AB”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Extracorporeal CO2 Removal Devices Market Research Report |
By End Use | Clinics, ASCs |
By Application | ARDS, COPD |
By Access | Arteriovenous, Venovenous |
By Companies | ESTOR SPA, Medtronic, Medica Spa and Aferectica Srl, Alung Technologies, Xenos AG, Getinge AB |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 232 |
Number of Tables & Figures | 163 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by End Use (Clinics, ASCs), by Application (ARDS, COPD), by Access (Arteriovenous, Venovenous).
Extracorporeal CO2 Removal Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Extracorporeal CO2 Removal Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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