CO2 Removal Devices (Extracorporeal) - Market Insights, Competitive Landscape and Market Forecast-2030

Carbon Dioxide Removal Devices (Extracorporeal) Market By Product Type (Extracorporeal Co2 Devices, Disposables, And Others), Application (Chronic Obstructive Pulmonary Disease (COPD), Asthma, Acute Respiratory Distress Syndrome (ARDS), And Others), End-User (Hospitals, Clinics, And Others), and geography is expected to grow at a steady CAGR forecast till 2030 owing to the rising prevalence of respiratory and stress related disorders and various product development activities in the carbon dioxide removal devices (extracorporeal) around the globe.

The global carbon dioxide removal devices (extracorporeal) market is estimated to grow at a CAGR of 10.32% during the forecast period from 2024 to 2030. The demand for carbon dioxide removal devices (extracorporeal) is primarily being boosted owing to an increase in the number of respiratory disorders such as chronic obstructive pulmonary disorder (COPD), asthma, Acute Respiratory Distress Syndrome (ARDS) among others, a growing aging population and sedentary lifestyles serving as potential risk factors, along with product development activities in the product portfolio, thereby contributing in the overall growth of the carbon dioxide removal devices (extracorporeal) market during the forecast period from 2024-2030.

Carbon Dioxide Removal Devices (Extracorporeal) Market Dynamics:

According to the World Health Organization (WHO) 2022, it was estimated that worldwide around 262 million people were suffering from asthma in 2019.

As per the Asthma and Allergy Foundation of America 2022, approximately 25 million people in the United States were suffering from asthma in the year 2020. The same source also stated that in 2020, about 20 million United States adults aged 18 and above were suffering from asthma.

The Asthma and Lung UK Organization 2022 also stated that in the UK, about 5.4 million people suffer from asthma disorder in 2021. The number accounts for about one in every 12 adults and one in every 11 children.

Moreover, as per statistics published by National Health Science (2022), about 1.17 million people in England were diagnosed with COPD in 2020-21, accounting for 1.9% of the total population. Also, according to a study published in PLOS ONE in 2021, about 2.6 million people were suffering from COPD in France. By 2025, that number is expected to rise to 2.8 million.

In addition, the growing healthcare expenditure and research spending for respiratory disorders are also expected to spur the market demand for extracorporeal CO2 removal devices. For example, in May 2022, as per NIH, Estimates of Funding for Various Research, Condition, and Disease Categories (RCDC), about USD 150 million was spent on research for COPD in the United States 2022. Therefore, the interplay of all the above-mentioned factors is expected to have a positive impact on the overall market for carbon dioxide removal devices (extracorporeal) during the forecast period.

However, the risks of patient-associated complications and mechanical complications that may arise during extracorporeal CO2 removal therapy, among others may restrict the growth of the overall market for carbon dioxide removal devices (extracorporeal) during the forecast period.

Carbon Dioxide Removal Devices (Extracorporeal) Market Segment Analysis:

Carbon Dioxide Removal Devices (Extracorporeal) Market by Product Type (Extracorporeal CO2 Devices, Disposables, and Others), Application (Chronic Obstructive Pulmonary Disease (COPD), Asthma, Acute Respiratory Distress Syndrome (ARDS), and Others), End-User (Hospitals, Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the application segment of the carbon dioxide removal devices (extracorporeal) market, the COPD category is expected to amass a significant revenue share in the year 2023. This can be attributed to the rising prevalence of COPD among various high-income countries and the technical advantages of extracorporeal CO2 devices for COPD are expected to spur its market demand during the given forecast period.

As per a recent European Respiratory Journal article, an estimated 36.5 million Europeans were suffering from COPD during the pandemic in November 2021, and this number is projected to reach 49.4 million by 2050.

Moreover, the ERS Journal in August 2022, stated that about 645.6 million people were estimated to have COPD by 2050, which marked a relative increase of 36% as compared to 2021.

In addition, the latest extracorporeal CO2 devices for COPD patients were comparatively less complex and compatible while working owing to the only requirement of a tiny double-lumen cannula and their low blood flow rates.

Therefore, due to the interplay of all the above-mentioned factors, the COPD category in the application segment is expected to rise, which is anticipated to bolster the demand for more extracorporeal CO2 devices, thereby driving the growth of the overall Carbon Dioxide Removal Devices (Extracorporeal) market during the forecast period from 2024-2030.

North America Is Expected To Dominate The Overall Carbon Dioxide Removal Devices (Extracorporeal) Market:

Among all the regions, North America is estimated to account for the largest share of the Carbon Dioxide Removal Devices (Extracorporeal) market in the year 2023. Owing to the significance of key growth factors such as the increasing prevalence of respiratory disorders like COPD and ARDS, the rising geriatric population, government initiatives, the presence of a highly developed healthcare infrastructure, early uptake of extracorporeal CO2 devices among the population among others, are expected to spur the market in North America in the upcoming years.

As per a recent NLM article in August 2022, acute respiratory distress syndrome (ARDS) affects 200,000 people in critical illness settings in the United States every year on average. The aforementioned source further stated that chronic lower respiratory disease (CLRD) is the fourth leading cause of death in the United States.

The growing healthcare expenditure and research spending on respiratory diseases in North America are also expected to spur the market demand for extracorporeal CO2 removal devices.

Additionally, government initiatives such as the CDC's National Asthma Control Program (NACP) which provides funds for educating asthma-affected patients, are strongly expected to enhance mass awareness regarding respiratory disorders.

Thus, owing to all the above-stated factors, the regional market in North America is expected to witness a significantly higher product demand, thus driving the overall regional market for North America Carbon Dioxide Removal Devices (Extracorporeal).

Carbon Dioxide Removal Devices (Extracorporeal) Market Key Players:

Some of the key market players operating in the Carbon Dioxide Removal Devices (Extracorporeal) market include Getinge AB, ESTOR S.P.A, Alung Technologies, Medica Spa, Medtronic, X-COR Therapeutics, Xenios AG, Aferectica Srl, and others.

Recent Developmental Activities In The Carbon Dioxide Removal Devices (Extracorporeal) Market:

• In November 2021, ALung Technologies, Inc., announced that the Food and Drug Administration (FDA) granted De Novo clearance for its Hemolung Respiratory Assist System, becoming the first and only ECCO2R device to be cleared by the FDA.
• In May 2021, Baxter announced the global launch of PrisMax 2, the company's next-generation platform. The PrisMax 2 system features new solutions with a TrueVue digital health portfolio, as well as the PrismaLung+ blood-gas exchanger that delivers extracorporeal carbon dioxide removal (ECCO2R) therapy to support the management of acute respiratory dysfunction.
• In November 2020, Alira Health's X-COR Therapeutics closed a USD 2.6M seed financing to continue developing its novel extracorporeal carbon dioxide removal device toward clinical trials.

Key Takeaways From The Carbon Dioxide Removal Devices (Extracorporeal) Market Report Study

• Market size analysis for current Carbon Dioxide Removal Devices (Extracorporeal) market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Carbon Dioxide Removal Devices (Extracorporeal) market.
• Various opportunities available for the other competitors in the Carbon Dioxide Removal Devices (Extracorporeal) market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Carbon Dioxide Removal Devices (Extracorporeal) market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Carbon Dioxide Removal Devices (Extracorporeal) market growth in the coming future?

Target Audience Who Can Benefit From This Carbon Dioxide Removal Device (Extracorporeal) Market Report Study

• Carbon Dioxide Removal Devices (Extracorporeal) product providers
• Research organizations and consulting companies
• Carbon Dioxide Removal Devices (Extracorporeal)-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Carbon Dioxide Removal Devices (Extracorporeal)
• Various end-users who want to know more about mental disorders and its related treatment equipment market, along with the latest technological developments in the Carbon Dioxide Removal Devices (Extracorporeal) market.

Frequently Asked Questions For The Carbon Dioxide Removal Devices (Extracorporeal) Market:

1. What is meant by Carbon Dioxide Removal Devices (Extracorporeal)?

Carbon Dioxide Removal Devices (Extracorporeal) are specialized devices that primarily focus on CO2 removal, significantly reducing the PaCO2. The potential advantage of these devices is the reduced blood flow through the circuit, where oxygenation by the lungs and dependence on the alveoli reduces with independent extracorporeal oxygenation through apnoeic oxygenation.

2. What is the market for global Carbon Dioxide Removal Devices (Extracorporeal)?

The carbon dioxide removal devices (extracorporeal) market is estimated to grow at a CAGR of 10.32% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Carbon Dioxide Removal Devices (Extracorporeal) market?

The demand for carbon dioxide removal devices (extracorporeal) is primarily being boosted owing to an increase in the number of respiratory disorders such as chronic obstructive pulmonary disorder (COPD), asthma, Acute Respiratory Distress Syndrome (ARDS) among others, a growing aging population and sedentary lifestyles serving as potential risk factors, along with product development activities in the product portfolio, thereby contributing in the overall growth of the carbon dioxide removal devices (extracorporeal) market during the forecast period from 2024-2030.

4. Who are the key players operating in the global carbon dioxide removal devices (extracorporeal) market?

Some of the key market players operating in the Carbon Dioxide Removal Devices (Extracorporeal) market include Getinge AB, ESTOR S.P.A, Alung Technologies, Medica Spa, Medtronic, X-COR Therapeutics, Xenios AG, Aferectica Srl, and others.

5. Which region has the highest share in the carbon dioxide removal devices (extracorporeal) market?

North America is expected to dominate the overall carbon dioxide removal devices (extracorporeal) market during the forecast period from 2024-2030. Owing to the significance of key growth factors such as the increasing prevalence of respiratory disorders like COPD and ARDS, the rising geriatric population, government initiatives, the presence of a highly developed healthcare infrastructure, early uptake of extracorporeal CO2 devices among the population among others, are expected to spur the market in North America in the upcoming years.