- According to Transparency Market Research’s latest report on the global extracorporeal membrane oxygenation machine market for the historical period 2017–2018 and forecast period 2019–2027, rise in prevalence and incidence of respiratory and cardiovascular diseases to escalate the growth of global extracorporeal membrane oxygenation machine market. Moreover, rising adoption of technological advanced products is fueling growth of the extracorporeal membrane oxygenation machine market
- According to the report, the global extracorporeal membrane oxygenation machine market was valued at US$ 0.3 Bn in 2018 and is anticipated to expand at a CAGR of 5.4% from 2019 to 2027
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Rise in Demand for the Extracorporeal Membrane Oxygenation Machine and Surge in Geriatric Population: Key Drivers of Global Extracorporeal Membrane Oxygenation Machine Market
- Extracorporeal membrane oxygenation, also known as extracorporeal life support, is an extracorporeal technique of providing prolonged cardiac and respiratory support to persons whose heart and lungs are unable to provide an adequate amount of gas exchange or perfusion to sustain life. Nowadays extracorporeal membrane oxygenation machine has become more reliable with improvement in equipment. Moreover, change in lifestyle and dietary habits is leading to cause various chronic diseases including cardiac and respiratory disease and thereby increase the need of extracorporeal membrane oxygenation machine.
- The world is currently experiencing the pandemic of an infectious disease called COVID-19. This infection leads to multiple organ failure, acute & severe respiratory disorders, pneumonia, and even death in severe cases. This is augmenting the demand for the products. The government has taken initiatives to expand the use of extracorporeal membrane oxygenation machine for the COVID-19.
- Furthermore, common medical conditions in infants wherein extracorporeal membrane oxygenation machine is used are meconium aspiration syndrome, persistent pulmonary hypertension of the newborn (PPHN), congenital diaphragmatic hernia (CDH), and respiratory distress syndrome (RDS). Neonatal births defects are usually observed to affect 2% of all live births and the mortality rate led by respiratory failure is approximately 33% in neonates. Thus, increase in neonatal birth defects leading to increase the demand for the extracorporeal membrane oxygen machine. This in turn to drive the growth of market.
- The life expectancy of people has increased over the last decade. The immune system of an individual weakens with increasing age. Hence, rise in elderly population has led to high probability of contracting diseases. With increasing age, there is a high possibility of rise in the incidence of chronic diseases, leading to hospitalization for respiratory distress, cardiac arrest, or other associated distress. This is expected to drive the extracorporeal membrane oxygenation machine machines market during the forecast period.
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High Cost of Extracorporeal Membrane Oxygenation Machine Procedures to Hamper Global Extracorporeal Membrane Oxygenation Machine Market
- An ECMO machine purifies the blood outside the body in cases where in the lungs and the heart cannot perform the blood purification function. The use of this machine has raised the rate of survival of patients. However, the cost of the procedure is very high. This is a restraining factor, due to which several patients do not opt for the treatment.
- In the U.S., the cost of an ECMO procedure varies between US$ 34,121 and US$ 154,817, depending on the patient’s condition. In India, the cost of the procedure is approximately US$ 18,669.
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Global Extracorporeal Membrane Oxygenation Machine Market: Competitive Landscape
- This report profiles major players in the global extracorporeal membrane oxygenation machine market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global extracorporeal membrane oxygenation machine market is highly fragmented, with the presence of a number of international as well as regional players
- Leading players operating in the global e extracorporeal membrane oxygenation machine market are
- Terumo Corporation
- Medtronic plc
- Getinge AB
- LivaNova PLC
- Nipro Corporation
- MicroPort Scientific Corporation
- XENIOS AG
- OriGen Biomedical
- EUROSETS
- Hemovent GmbH
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According to a new market research report "EMO Machine Market by Modality (Veno-Arterial (VA), Veno-Venous (VV), Arterio-Venous (AV)), Application (Respiratory, Cardiac, Extracorporeal Cardiopulmonary Resuscitation (ECPR)), and Region - Analysis & Forecasts to 2021" published by MarketsandMarkets, The market is expected to reach USD 305.3 Million by 2021 from USD 247.2 Million in 2016, at a CAGR of 4.3%.Browse 78 market data Tables and 31 Figures spread through 129 Pages and in-depth TOC on "Extracorporeal Membrane Oxygenation Machine Market"Download PDF Brochure: http://www.marketsandmarkets.com/pdfdownload.asp?id=255167654 The report analyzes and studies the major market drivers, restraints/challenges, and opportunities for the forecast period of 2016 to 2021.
However, complications associated with ECMO such as bleeding, infections, and technical failures; along with high cost and lack of skilled professionals is a challenge to the market.The global ECMO machine market is segmented on the basis of modality, applications, and regions.
The large share of this segment can be attributed to factors such as rising incidence of respiratory failure, lung cancer, and lung transplants, and increasing adoption of ECMO.On the basis of region, the global ECMO machine market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
In 2016, North America accounted for the largest share of the market, followed by Europe, Asia-Pacific, and the Rest of the World.
The Asia-Pacific market is projected to grow at the highest CAGR and serve as a revenue pocket for companies offering ECMO systems.Request For Sample Pages: http://www.marketsandmarkets.com/requestsample.asp?id=255167654 In 2015, the market was dominated by the Getinge Group (Sweden), Medtronic plc (Ireland), and LivaNova PLC (U.K.).
The other players in the Extracorporeal Membrane Oxygenation Machine Market are XENIOS AG (Germany), Terumo Corporation (Japan), MicroPort Scientific Corporation (China), NIPRO Corporation (Japan), OriGen Biomedical, Inc. (U.S.), ALung Technologies, Inc. (Germany), and EUROSETS S.r.l.
