The new report by Expert Market Research titled, ‘Global Extracorporeal Carbon Dioxide Removal (ECCO2R) Devices Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global extracorporeal carbon dioxide removal (ECCO2R) devices market size, assessing the market based on its segments like products, accesses, end-uses, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 6.9%
The rise in acute respiratory distress syndrome (ARDS) and chronic obstructive pulmonary disease (COPD) has led to the introduction of novel products for vitalising blood flow and efficient gas exchange, propelling the market growth. An increase in chronic respiratory diseases is expected to drive the demand for extracorporeal CO2 removal devices. Also, the rising preference for safe and rapid minimally invasive ventilation devices is accelerating the market growth. During the COVID-19 pandemic, a rising number of regulatory product approvals for different extracorporeal removal devices aided several market players in increasing their product sales. The presence of a large patient pool, expanding awareness of acute respiratory failure, and rising government healthcare expenditure in developing nations, such as Japan and India, are expected to drive the regional market expansion.
Industry Definition and Major Segments
Extracorporeal carbon dioxide eliminates increased carbon dioxide levels caused by respiratory failure. It entails inserting a dialysis catheter-like tube into a big vein. The blood is pushed through a machine and the carbon dioxide is removed.
By product, the market is classified into:
• Extracorporeal CO2 Machines
Based on access, the market is segmented into:
The end-uses of the market include the following:
• Ambulatory Surgical Centres
The major applications of the market are:
• Chronic Obstructive Pulmonary Disease (COPD)
• Bridge to Lung Transplant
• Acute Respiratory Distress Syndrome (ARDS)
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Several technological advancements and techniques have enabled the complexity and size of extracorporeal CO2 removal devices to be reduced in recent years. Numerous technological advances have made extracorporeal CO2 removal devices possible and easy to operate. Thus, technological advancements are expected to fuel the market growth. Due to the large population base and low per capita income, there is a great demand for economical treatment solutions. As a result, international corporations are eager to invest in developing countries, such as China, anticipating regional market expansion. Favourable reimbursement policies, increasing government investments in long-term healthcare, the success rate of extracorporeal CO2 removal devices during respiratory surgeries, and growing healthcare research infrastructural framework are also driving the market growth.
Key Market Players
The major players in the market including Baxter International, Inc., Aferetica s.r.l., Getinge AB, XENIOS AG, and Estor SpA, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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