Extracorporeal Membrane Oxygenation Machine Market Overview
Extracorporeal membrane oxygenation (ECMO), also known as extracorporeal life support (ECLS), it is an extracorporeal technique that provides prolonged cardiac and respiratory support to the patients whose heart and lungs are inept to provide an adequate amount of gas exchange to sustain the life.
Extracorporeal Membrane Oxygenation Machine Market Key Benefits
subsequent improvement of lifestyle ailments are anticipated to further expand the COPD incidence rate The growth of the market can be attributed to increase in cases of cardiovascular and respiratory diseases, the rise in the adoption of ECMO as a bridge to lung transplantation, rising number of ECMO centres, conferences and training programs to increase awareness, and the technological advancements. In addition, the rise in geriatric population and the number of people suffering from the diseases in populous countries are factors that are expected to drive the market growth.
Increase in the adoption of unhealthy lifestyle and the. Identified risk factors such as, rise in the tobacco consumption trend in both, males and females, are further aiding the market growth. However, complications associated with the extracorporeal membranes oxygenation machines such as bleeding, infections, and technical failures along with the high cost and lack of skilled professionals is a challenge to the market.
Extracorporeal Membrane Oxygenation Machine Market Forecast Report (2018-2023)
Extracorporeal Membrane Oxygenation machine market Size is anticipated to grow at a 4.3% CAGR from 2018 to 2023 and it is estimated that the global market valued was at USD 268.92 Million in 2018 and is expected to reach USD 331.93 Million by 2023.
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Extracorporeal Membrane Oxygenation Machine Market Segmentation
Extracorporeal membrane oxygenation machine is segmented into Veno-Arterial (VA), Veno-Venous (VV) and Arterio-Venous (AV). The veno-venous (VV) segment is expected to account for the largest share of this market segment. The large share of this segment is primarily due to the high incidences of respiratory failure, rise in the lung transplants, and technological advancements. The arteriovenous (AV) segment is projected to grow at the highest CAGR in the coming years. On the basis of application, it is segmented into the Respiratory, Cardiac and Extracorporeal Cardiopulmonary Resuscitation (ECPR). The respiratory segment accounts for the biggest share of this market segment. The large share of this segment can be credited to the factors such as rise in the incidence of respiratory failure, lung cancer, and lung transplants, and increasing adoption of ECMO.
On the basis of geography, the market is analyzed under various regions namely North America, Europe, Asia-Pacific, Middle East and Africa. North America accounts are the largest share of the market. The Asia-Pacific market is expected to grow at the highest CAGR and aid the revenue pocket for companies are offering ECMO systems.
Key Developments in the Market
According to data recorded by American Lung Association (ALA), in 2013, COPD was recorded to be the third largest cause of death across the U.S. In addition, Over 24.0 million individuals are estimated to be remained undiagnosed in the U.S. and 11.0 million diagnosed for the COPD.
Since the incorporation of ECMO in treatment and management of the swine flu epidemic of 2009, ECMO centers had been on the rise. Increased survival rate of swine flu patients treated with the ECMO led to an increase in the number of centers to 298 in 2015 from 148 in 2008.
The increasing adoption of unhealthy lifestyles, such as rise in tobacco consumption level among both, females and males and further development of lifestyle disorders are augmenting the incidence rate of COPD. Extracorporeal Membrane Oxygenation machines are gaining popularity in hospital and healthcare systems due to the rising trend of its application during cases of respiratory disorders.
Some of the major companies dominating the market,
- Medtronic plc
- LivaNova PLC
- XENIOS AG
- Terumo Corporation
- MicroPort Scientific Corporation
- NIPRO Corporation
- OriGen Biomedical Inc.
- ALung Technologies
- Inc EUROSETS S.r.l
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