The market for extracorporeal CO2 removal devices is projected to expand from US$ 99.93 million in 2022 to US$ 170.54 million by 2030, reflecting a compound annual growth rate (CAGR) of 6.9% during the period from 2022 to 2030.

This growth is primarily driven by the rising prevalence of chronic obstructive pulmonary diseases (COPD) and an increasing elderly population. Additionally, the surge in product launches and regulatory approvals is expected to create further opportunities for the extracorporeal CO2 removal devices market. However, stringent regulations surrounding these devices may pose challenges to the expansion of the hyperbaric oxygen therapy sector.

Extracorporeal CO2 removal devices serve as a vital treatment option for patients suffering from hypercapnic respiratory failure. These devices enable healthcare professionals to enhance lung-protective ventilation strategies. By effectively removing sufficient CO2, they can decrease alveolar minute ventilation by 50%, leading to a significant reduction in the partial pressure of carbon dioxide (PaCO2). Consequently, the numerous benefits associated with extracorporeal CO2 removal devices are anticipated to foster overall market growth.

In 2022, North America held a significant portion of the global market for extracorporeal CO2 removal devices. This market is further divided into segments for the US, Canada, and Mexico. The growth in this region is fueled by advancements in healthcare infrastructure and a high rate of adoption of these devices, particularly during the COVID-19 pandemic in both the US and Canada. The early integration of innovative technologies and a substantial patient population suffering from ARDS and COPD are expected to further propel market growth in North America. The rising incidence of chronic respiratory conditions and a preference for safe, rapid, and minimally invasive ventilation options are also likely to contribute to the market's expansion during the forecast period.

The increasing number of product launches and regulatory approvals is significantly enhancing growth prospects for the extracorporeal CO2 removal devices market. Recent technological advancements have simplified the design and reduced the size of these devices, making them more accessible and acceptable in clinical settings. Innovations in technology have made extracorporeal CO2 removal devices more practical and user-friendly, providing additional support for patients with severe respiratory illnesses and high mortality risks.

- In November 2021, ALung Technologies received FDA de novo clearance for its Hemolung respiratory support system, marking it as the first extracorporeal carbon dioxide removal device approved.
- In November 2020, X-COR Therapeutics secured approximately US$ 2.6 million in funding, which will be directed towards the development of its ECCO2R devices.
- In April 2020, ALung Technologies obtained emergency use authorization (EUA) from the FDA for the Hemolung respiratory assist system (RAS) to treat COVID-19 patients.

Such strategic initiatives are expected to significantly enhance the market for extracorporeal CO2 removal devices.

**Insights Based on Product Type**
The extracorporeal CO2 removal devices market is categorized into two main segments: extracorporeal CO2 devices and consumables. In 2022, the extracorporeal CO2 devices segment dominated the market share. However, the consumables segment is projected to experience a higher CAGR during the period from 2022 to 2030. The necessity for a fresh set of consumables for each patient undergoing extracorporeal CO2 removal procedures drives the demand for consumables, particularly in COPD and ARDS treatments. Therefore, the market for consumables is expected to continue its upward trajectory throughout the forecast period.

**Application-Based Insights**
The market is also segmented by application, including acute respiratory distress syndrome, chronic obstructive pulmonary disease, and others. The chronic obstructive pulmonary disease segment accounted for the largest market share in 2022, while the acute respiratory distress syndrome segment is anticipated to achieve the highest CAGR of 7.7% from 2022 to 2030. The growing awareness surrounding ARDS and its early detection has led to an increase in diagnoses and treatments, thereby boosting the demand for extracorporeal CO2 removal devices specifically designed for ARDS management. Consequently, healthcare providers are increasingly confident in integrating these devices into their ARDS treatment protocols.

**End User-Based Insights**
The market is segmented by end user into hospitals and clinics, ambulatory surgical centers, and others. The hospitals and clinics segment held the largest market share in 2022 and is expected to register the highest CAGR during the forecast period. Hospitals, especially those with specialized intensive care units (ICUs) and respiratory care facilities, are well-equipped to manage critically ill patients. These institutions typically have multidisciplinary teams, including pulmonologists, critical care specialists, respiratory therapists, and perfusionists, who collaborate to address complex respiratory needs, which is crucial for the effective use of ECCO2R devices.

Leading companies in the market are pursuing strategies such as expansion, partnerships, new product launches, and customer base acquisition to capitalize on existing business opportunities.

- In October 2022, Alung Technologies assessed the safety and efficacy of the Hemolung RAS for low-flow extracorporeal CO2 removal (ECCO2R) as an alternative or complement to invasive mechanical ventilation for patients with acute COPD exacerbations.
- In March 2022, Respira Labs introduced Sylvee, an AI-powered wearable lung monitor that utilizes acoustic resonance to evaluate lung function and detect fluctuations in lung volume, aiding in the management of COPD, asthma, and COVID-19.
- In May 2021, ALung Technologies received FDA clearance for its next-generation Hemolung RAS, designed to provide respiratory support for patients experiencing acute respiratory failure.
- In May 2020, ALung Technologies announced the commercial development of the next-generation artificial lung, the Hemolung Respiratory Assist System (RAS).

The report on the extracorporeal CO2 removal devices market references primary and secondary sources, including the US Food and Drug Administration, the Centers for Disease Control and Prevention (CDC), and the Global Burden of Disease Study.