Extracorporeal Membrane Oxygenation Machine Market Overview
Increases instances of lung diseases, rising number of the elderly population, better reimbursement support, the inclusion of top-rated technologies, an influx of investment, and others are slated to trigger growth for the market. The revamping of the healthcare sector in developing countries would also ensure growth for Extracorporeal Membrane Oxygenation Machine Market Growth However, chances of contracting an infection and triggering side-effects like bleeding can hold back the market from achieving the predicted growth.
Extracorporeal Membrane Oxygenation Machine consists of different components such as pumps, controllers, oxygenators, cannula and accessories. ECMO machine market has registered revenue growth on as each component segment has showed growth prospects as ECMO machines have come to be more widely used. Oxygenators segment is expected to record considerable CAGR over 2019-2025 and hold a major ECMO machine market share due to increased application ECMO machines in treatment of heart and lung diseases. The global extracorporeal membrane oxygenation market, as studied by researchers from Market Research Future (MRFR) for their report, is projected to witness substantial growth during the forecast period. The report also reveals the possibility of registering 5.10% CAGR over the review period. It also deals with various factors that are supposed to back the market growth.
Extracorporeal Membrane Oxygenation Machine are also known as life support machines. They are designed to oxygenate blood outside the patient’s body and allows the heart and lungs to rest. The ECMO machine works by taking the blood out of the body, into an artificial lung where it adds oxygen and removes carbon dioxide. The blood is then armed to body temperature and pumped back into the body. Some of the factors such as chances of bleeding, stroke, infection and kidney failure may hamper the growth of ECMO machine market. However, in spite of risks, ECMO machines have been known to save lives and are an integral part of heart and lung bypass surgeries which will continue to add to ECMO machine market revenue by 2025.
Extracorporeal Membrane Oxygenation Machine Market Segmentation
- The MRFR report offers an inclusive segmental analysis of the global extracorporeal membrane oxygenation machine market report based on application, modality, and component.
- By component, the global extracorporeal membrane oxygenation machine market is segmented into cannula, controllers, oxygenators, pumps, and accessories. Of these, the oxygenators segment will lead the market over the forecast period. Increasing use of extracorporeal membrane oxygenation machine for cardiac treatments and rising cases of lung diseases are adding to the segment growth. This will be followed by the pumps segment that is predicted to grow at a fast pace as it is widely used to treat asthma.
- By modality, the global extracorporeal membrane oxygenation machine market is segmented into arterio-venous (AV), veno-venous (VV), and veno-arterial (VA). Of these, the veno-arterial segment will dominate the market over the forecast period for its increasing use to treat cardiovascular collapse. This will be followed by the veno-venous segment that is predicted to grow at a fast pace for its wide use in cardiogenic shock.
- By application, the global extracorporeal membrane oxygenation machine market is segmented into extracorporeal cardiopulmonary resuscitation (ECPR), cardiac, and respiratory. Of these, the respiratory segment will have a major share over the forecast period for its vital role in supporting pulmonary function. This will be followed by the ECPR segment that is predicted to grow at a fast pace during the forecast period. The growing prevalence of cardiac illness across the globe is adding to the market growth.
Extracorporeal Membrane Oxygenation Machine Market Regional Analysis
Based on the region, the global extracorporeal membrane oxygenation machine market report covers the growth opportunitues and recent trends across the Americas, Europe, the Asia Pacific (APAC), and the Middle East Africa (MEA). Among these, the Americas will lead the market over the forecast period. The development of new medical devices, rising investment in RD, favorable reimbursement scenario, and the rising prevalence of lung cancer are adding to the growth of the market in the region. The US Canada are the major contributors in the region for increasing cases of cancer in the region and high COPD cases.
The extracorporeal membrane oxygenation machine market in Europe is predicted to have the second-largest share in the market over the forecast period. The involvement of key companies, the rise in chronic diseases, and the presence of a well-established healthcare system are adding to the growth of the market in the region. Rising cases of lung cancer are also boosting the market growth.
The extracorporeal membrane oxygenation machine market in the APAC region is predicted to grow at a fast pace over the forecast period. Growing cases of lung cancer are adding to the growth of the market in the region. China is a major contributor in the region, with a good number of people being diagnosed with lung cancer each year and is a key cause of death.
The extracorporeal membrane oxygenation machine market in the MEA is predicted to have the smallest share over the forecast period for the region’s low disposable income.
Extracorporeal Membrane Oxygenation Machine Market Players
- Getinge Group
- Medtronic
- Livanova PLC
- Abbott
- Agilent Technologies
- Siemens AG
- Terumo Corporation
- Fresenius Medical Care AG Co. KGaA
- Microport Scientific Corporation
- Nipro Corporation
- ALung Technologies, Inc.
- MAQUET Holding B.V. Co. KG
- Medos Medizintechnik AG
- Terumo Cardiovascular Systems Corp
Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/extracorporeal-membrane-oxygenation-machine-market-8119
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