Market Research Report
Extracorporeal Membrane Oxygenation Machine Market: Current Analysis and Forecast (2021-2027)
|Extracorporeal Membrane Oxygenation Machine Market: Current Analysis and Forecast (2021-2027)|
Published: May 1, 2022
UnivDatos Market Insights Pvt Ltd
Content info: 248 Pages
Delivery time: 1-2 business days
ECMO Machine Market is anticipated to display a CAGR of around 5% over the forecast period (2021-2027). Moreover, according to the World Health Organization The increase in the number of Cardiovascular surgeries, as well as the rising incidences of Heart and Lung diseases such as coronary artery diseases (CAD) and cardiac failure or severe acute respiratory distress syndrome (ARDS), are expected to drive the market for extracorporeal membrane oxygenation machine market in the coming years. according to WHO, Cardiovascular diseases (CVDs) are the leading cause of death worldwide. Furthermore, around 17.9 million people died because of CVDs in 2019, and 85% of these deaths were due to Heart attack. In addition, the growing geriatric elderly population in developing countries coupled with the increase in the prevalence of chronic inflammatory lung diseases is further expected to create the demand the ECMO machine market. Moreover, the adoption of minimally invasive surgeries across geographies is another crucial factor driving the market.
Insights Presented in the Report
"Amongst modality, Arterial-venous segment held significant market share in 2020"
Based on the modality, the market bifurcated into veno-arterial, veno-venous, arterial-venous. Among these segments Arterial-venous (VA-ECMO) is projected to attain the largest market share in 2020 and expected to increase with a healthy CAGR in forecast period. The use of Arterial-venous (VA-ECMO) promotes gas exchange, especially the removal of carbon dioxide, by pumping blood into the circulatory system using the patient's arterial pressure.
Arterial-Venous provides removal of Carbon dioxide (ECCO2 R) from the body, by using patients own Arterial pressure to pump the blood. Furthermore, advantages linked with this segment area such as better medical evaluation, and effective dynamic range are contributing to its market expansion. Using ECMO machines, various steps are included in the treatment process, such as surgeries, post-operative follow-ups, and the current condition of the patient's heart & lungs. Thus, due to the rising demand for early diagnosis and effective treatment, is further contributing to the category's growth. ECMO's accuracy, and speed encourages its adoption, and it is expected to grow in popularity in the future.
"Amongst Application, Respiratory acquires largest market share"
Based on the application, the market is segmented into cardiac, respiratory, and extracorporeal cardiopulmonary resuscitation (ECPR). Of these three, chronic respiratory diseases acquired the largest share of the market in 2020. The growth of the segment is mainly due to the rising prevalence of chronic diseases, a number of cardiac surgeries entwined with the growing aging population around the world, which is further expected to fuel the growth of ECMO machines.
According to data published by the Extracorporeal Life Support Organization (ELSO), in 2015, over 2,600 patients in the U.S. with respiratory diseases received ECMO therapy. Moreover, ECMO has been used on 151,683 patients through 2020, including 30,743 children, 45,205 neonates, and 75,735 adults. Furthermore, rising alcohol consumption and smoking coupled with a sedentary lifestyle are growing the worldwide burden of cardiac and respiration illnesses in adults.
"Amongst End-User, Hospitals & Clinics acquires largest market share"
Based on end-user, the market is segmented into hospitals & clinics, ambulatory surgery centers, and others. Among these segments, ECMO machine market is in high demand in hospitals & Clinics because it provides advanced tools to orthopedic surgeons to improve visualization of complex cases, improve medical care efficiency, reduce time and healthcare costs, improve data management, and many other benefits. In addition to this, a rise in the number of healthcare facilities across countries coupled with the surging investment in the research and development by the hospitals are resulting in the growth of the extracorporeal membrane oxygenation machine market. Furthermore, the government across countries are investing in the healthcare industry for advancements and technological upgradation. Moreover, rising patient footfall in hospitals owing to ease of accessibility to the majority of healthcare services in one place is likely to boost the segment growth.
"North America will Dominate the Market During the Forecast Period"
For a better understanding of the market adoption of ECMO machines, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), and Rest of World. In 2020, the North American region held the highest market share in the global ECMO Machine market.
Some of the major players operating in the market are Fresenius Medical Care AG & Co. KGaA, Getinge Group, Medtronic plc, Terumo Cardiovascular Systems Corporation, Nipro Corporation, Xenios AG, Alung Technologies, Inc., Livanova plc, Eurosets S.R.L., Abiomed.
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The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
The study comprehensively covers the market across different segments
Deep dive regional level analysis of the industry
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