The extracorporeal CO2 removal devices market is anticipated to grow from US$ 99.93 million in 2022 to US$ 170.54 million by 2030; it is estimated to register a CAGR of 6.9% during 2022-2030.

Market growth is attributed to the increasing chronic obstructive pulmonary diseases (COPD) cases and the growing geriatric population. Rising number of product launches and approvals will likely provide growth opportunities for the extracorporeal CO2 removal devices market. However, strict mandates related to extracorporeal CO2 removal devices hinder the growth of the hyperbaric oxygen therapy market.

Extracorporeal CO2 removal devices are an efficient therapy for patients with hypercapnic respiratory failure. They can enable doctors and healthcare professionals to improve lung protective ventilation. Extracorporeal CO2 removal devices can remove enough CO2 to reduce alveolar minute ventilation by 50%, significantly reducing the partial pressure of carbon dioxide (PaCO2). Therefore, various advantages of extracorporeal CO2 removal devices are expected to increase the overall market development.

North America accounted for a major share of the global extracorporeal CO2 removal devices market in 2022. The North America extracorporeal CO2 removal devices market is segmented into the US, Canada, and Mexico. 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.

Rising Numbers of Product Launches and Approvals Fuels the Extracorporeal CO2 Removal Devices Market Growth Opportunities

In recent years, technological improvements and strategies have reduced the complexity and size of extracorporeal CO2 removal devices. A gradual increase in technological advancement has facilitated the growth of security and acceptance of these devices. Various technological advancements have made extracorporeal CO2 removal devices feasible and easy, providing further options to assist patients with severe respiratory diseases and high mortality risk.

- In November 2021, ALung Technologies received FDA de novo clearance for its Hemolung respiratory support system, the first extracorporeal carbon dioxide removal device.

- In November 2020, X-COR Therapeutics closed a financing round of around US$ 2.6 million. The company intends to use these funds to develop its products further, including ECCO2R devices.

- In April 2020, an emergency use authorization (EUA) was received by ALung Technologies from the US Food and Drug Administration for the hemolung respiratory assist system (RAS) to treat COVID-19.

Therefore, such strategic initiatives are expected to boost the market growth of extracorporeal CO2 removal devices.

Product Type-Based Insights

Based on product, the extracorporeal CO2 removal devices market 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 during 2022-2030. 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

Application-Based Insights

The extracorporeal CO2 removal devices market is segmented based on application 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 2022-2030.

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.

End User-Based Insights

Based on the end user, the extracorporeal CO2 removal devices market is segmented 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 during 2022-2030. 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.

Leading players are implementing strategies such as expansion, partnership, launch of new products, and acquiring a new customer base to tap prevailing business opportunities.

- In October 2022, Alung Technologies evaluated the safety and effectiveness of using the Hemolung 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 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 COPD, 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 Respiratory Assist System (RAS).

The US Food and Drug Administration, Centers for Disease Control and Prevention (CDC), and Global Burden of Disease Study are among the primary and secondary sources referred to while preparing the extracorporeal CO2 removal devices market report.