The global Extracorporeal CO2 Removal Devices Market size is estimated to reach USD 118.64 million by 2028, registering a CAGR of 5.27% over the forecast period, according to a new report by Grand View Research, Inc. Technological improvements have changed extracorporeal techniques for CO2 removal in a promising manner to avoid respiratory failure, worsening respiratory acidosis, and to possibly shorten or prevent the duration of invasive mechanical ventilation in patients with exacerbation of asthma and Chronic Obstructive Pulmonary Disease (COPD).
Extracorporeal CO2 removal devices are 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. These devices can remove adequate CO2 to allow a
50% reduction in alveolar minute ventilation resulting in a substantial
reduction in PaCO2. Hence, various advantages associated with these devices are
expected to augment the overall market growth.
Extracorporeal CO2 removal devices are effective,
safe, and feasible. The usage of these tools in ventilation support has been
suggested in clinical situations where they may be useful, including
exacerbation of COPD and Acute Respiratory Distress Syndrome (ARDS). The
increasing prevalence of COPD across the globe is predicted to accelerate
market growth. According to the British Lung Association, around 1.2 million
people are diagnosed with COPD in the U.K.
Several manufacturers in the market are focusing on
developing technologically advanced and innovative devices to strengthen their
industry position. For instance, in November 2015, Alung Technologies received
an Expedited Access Pathway (EAP) from the FDA for its Hemolung Respiratory
Assist System (RAS). In February 2016, Alung Technologies received USD 12
million financing from existing as well as new investors. This financing helped
in the commercialization of Hemolung RAS.
Related Press Release@ Extracorporeal CO2 Removal Devices Market Report
Extracorporeal CO2 Removal
Devices Market Report Highlights
- Extracorporeal CO2 machines held the largest revenue share of the
global market in 2020 owing to the availability of a wide range of devices
- The COPD application segment accounted for a significant revenue
share of the global market in 2020
- The venovenous access segment is expected to account for the
largest share by 2028 due to advantages, such as decreased invasiveness,
and potential for the early mobilization of patients
- The hospitals end-use segment is estimated to have the fastest CAGR
over the forecast period due to the rising number of hospitals in
developing economies and increasing competition in healthcare service
providers
- North America held the largest market share in 2020 and is
anticipated to maintain its dominance over the forecast period
- This is attributable to the growing prevalence of COPD & ARDS
and the increasing adoption of advanced devices
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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