Extracorporeal Membrane Oxygenation Machine (ECMO) Market Shows A Rapid Growth by 2028 | Industry Trends, Size, Key Players, COVID-19 Impact, Forecast
It is estimated that the global extracorporeal membrane oxygenation machine market is expected to register a CAGR of 4.8 % during the forecast period of 2019 to 2025, with a market value of USD 267.60 million in 2018.
Extracorporeal membrane oxygenation machine is also known as a life support machine. It is used in the treatment of various heart and lung disease. The main function of extracorporeal membrane oxygenation machine is to provide enough oxygen to the body when heart and lung are not functioning properly. This machine is used in the treatment of lung cancer and various other chronic disorders. The extracorporeal membrane oxygenation machine market is driven by various factors such as increasing geriatric population, rising prevalence rates of lung cancer, and other chronic diseases.
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However, the high cost of surgery and increasing side effect after the treatment is expected to curb the growth of the extracorporeal membrane oxygenation machine market. The global extracorporeal membrane oxygenation machine market is currently dominated by several market players. The key players are involved in new product launches and strategic collaborations to strengthen its market position.
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The extracorporeal membrane oxygenation machine market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European extracorporeal membrane oxygenation machine market has been sub-divided Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, UK, Italy, Spain, and the rest of Western Europe. The extracorporeal membrane oxygenation machine market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The extracorporeal membrane oxygenation machine market in the Middle East & Africa has been divided into the Middle East and Africa.
The global extracorporeal membrane oxygenation machine market has been segmented based on component, modality, and application.
The market, based on component, has been divided into pumps, oxygenators, controllers, cannula, and accessories. The oxygenators segment is likely to hold a major share in the market due to the increasing adoption of extracorporeal membrane oxygenation machine for cardiac treatments. The pumps segment is predicted to be the fastest-growing due to the increasing incidences of asthma.
The market on the basis of modality is further segmented into veno-arterial (VA), veno-venous (VV), and arterio-venous (AV). The veno-arterial segment is expected to hold a major share in the market due to its widespread use in the treatment of cardiovascular collapse. Whereas veno-venous segment is expected to be the fastest-growing due to its increasing use in cardiogenic shock.
The market on the basis of application is further segmented into respiratory, cardiac, and extracorporeal cardiopulmonary resuscitation (ECPR). The respiratory segment is expected to hold the major share in the market due to its crucial role in supporting pulmonary function and is projected to witness lucrative growth over the forecast period whereas the extracorporeal cardiopulmonary resuscitation segment is expected to be the fastest-growing due to the rising incidence of cardiac illness worldwide.
Some of the key players in the global extracorporeal membrane oxygenation machine market are 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, and Others.
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