Global Extracorporeal CO2 Removal Market is expected to grow at a CAGR of 7.30% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Extracorporeal CO2 Removal Market by Type (Extracorporeal CO2 Machines, Disposables), Access Type, Application, End user, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
As per the report, the global extracorporeal CO2 removal market is expected to grow from USD 52.41 Million in 2017 to USD 95.07 Million by 2025 at a CAGR of 7.30% during the forecast period from 2018-2025. North America is dominating the market during the forecast period. Availability of ECCO2R devices and high demand for innovative medical technologies. Increase in prevalence of chronic respiratory diseases and demand of safe minimally invasive ventilation devices are driving the growth in the region.
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Key players operating in the market are Alung Technologies, Inc., ESTOR S.P.A, Xenios AG, Medtronic Plc., Medica S.P.A., Getinge Group, Aferetica s.r.l., Hemovent GmbH, CardiacAssist, Inc and others. Major players are engaged in developing new technologies to retain their foothold in the global market. Xenios AG offers Novalung, which is core technology platforms include blood extracorporeal CO2 machines, artificial lungs, temperature control, vascular access devices and biocompatible surface.
The type segment is classified into extracorporeal CO2 machines and disposables. The disposables dominated the segment and was valued around USD 29.12 million in 2017. Disposables are gas exchange devices. Low price of disposables is likely to contribute to the growth of the disposables segment during the forecast period. Application segment is divided into chronic obstructive pulmonary disease (COPD), acute respiratory distress syndrome (ARDS), bridge-to-transplant, and others. The COPD segment accounted for a major market share. Rise in incidence of respiratory diseases such as COPD and ARDS are driving the growth of the segment. Access type segment is classified into venovenous access and arteriovenous access. The venovenous access segment constituted a leading share and is growing at a CAGR of 9.32% in the forecast period. End user segment include hospitals, surgical centers and others. The hospitals segment is dominating and held the market share in the forecast period. Increase in number of multinational hospitals with advanced laboratory infrastructure are projected to drive the growth of the market
Increasing demand for minimal invasive techniques and technological advancements for more routine ECCO2R applications, such as durable biocompatible membranes are driving the growth of the market. In addition, growing cases of respiratory failures and elderly population are favouring the growth of the market. Ethical issues may restrict the growth of the market. However, increasing demand from emerging economies is opening new avenues for the market.
About the report:
The global extracorporeal CO2 removal market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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