Extracorporeal CO2 Removal Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

  • Single User License $3500

Extracorporeal CO2 Removal Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : December, 2021 | Medical Devices

Report Digest


Extracorporeal CO2 Removal Devices Market: Overview

The extracorporeal CO2 removal devices market is projected to experience growth opportunities in the upcoming years. The increasing incidents of Chronic Obstructive Pulmonary Disease (COPD) and Acute Respiratory Distress Syndrome (ARDS) have led to the introduction of new products to vitalize blood flow and for effective gas exchange. The rising number of regulatory product approvals for different extracorporeal removal equipment during the COVID-19 pandemic has helped different key players to increase sales avenues in the extracorporeal CO2 removal devices market.

The sudden outbreak of the COVID-19 due to novel coronavirus has developed a severe health problem and resulted in the death of thousands of people across the world. The respiratory manifestation has been one of the key clinical characteristics of the disease. Around 15-20% of the suspected and confirmed required mechanical ventilation. These patients have developed severe hypoxemia. All these factors have actually led to the increased application of extracorporeal CO2 removal devices during the COVID-19 pandemic. Owing to these factors, there is a significant increase in the demand opportunities in the market.

Extracorporeal CO2 Removal Devices Market: Key Trends

The rising demand for these extracorporeal CO2 removal devices has been estimated to develop expansion opportunities in the market during the forecast period. A significant number of technological advancements are taking place in the field of extracorporeal CO2 removal devices field. These market strategies have reduced the size and complexities of these medical and healthcare devices. Different technological advancements have actually made the application of these extracorporeal CO2 removal devices convenient and feasible. On the back of these initiatives, the extracorporeal CO2 removal devices market is likely to boost growth opportunities.

The extracorporeal CO2 removal devices are commonly used for patients with COPD exacerbation. Further, these medical devices also find application for the patients that are suffering from ARDS. These devices are helpful for the elimination of CO2 from blood and also help to fight against the adverse effects of hypercapnia and related acidosis. As per the data provided by the World Health Organization, COPD is considered the third leading reason for death across the world. Owing to these healthcare concerns, the extracorporeal CO2 removal devices market has been estimated to experience significant growth opportunities in the forthcoming years.

Extracorporeal CO2 Removal Devices Market: Competitive Dynamics and Key Developments

The key players operating in the extracorporeal CO2 removal devices market have been adopting different strategies to bolster growth opportunities in the forthcoming years. Collaborations, partnerships, acquisitions, product approvals, and novel product launches are some of the key strategies that are adopted by the key companies to create growth avenues in the market.

For instance, Alung Technologies has announced the commercial development of next-generation artificial lungs in May 2020. Hemolung Respiratory Assist System extracorporeal CO2 removal devices have been manufactured for this therapy.

Some prominent players in the global extracorporeal CO2 removal devices market include:

  • Medtronic
  • Aferectica Srl
  • Getinge AB
  • Medica SpA
  • Xenios AG
  • ESTOR SpA
  • Alung Technologies

Extracorporeal CO2 Removal Devices Market: Regional Assessment 

The extracorporeal CO2 removal devices market is spread across different geographical locations across the globe including North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among these regions, the Asia Pacific region has been estimated to register the fastest market growth during the forecast period. This market growth is on the back of growing healthcare expenditure by the government bodies in developing nations. Further, increasing awareness about acute respiratory failure and the presence of a large patient pool are some of the other factors that are likely to bring prospects in the regional market. In addition to this, extracorporeal CO2 removal devices are quite successful during respiratory surgeries. 

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?