According to Extracorporeal Membrane Oxygenation Machine Market 2020 Global Industry Analysis To 2025, report on “Global Extracorporeal Membrane Oxygenation Machine Industry” published by Market Research Future, The Global Extracorporeal Membrane Oxygenation Machine Market expected to rise at highest CAGR by 2025.
Extracorporeal Membrane Oxygenation Machine Market Analysis
The global extracorporeal membrane oxygenation machine market was valued at USD 267.60 million in 2018 and is likely to grow at a 4.8% CAGR between 2019- 2025, as per the recent report by Market Research Future (MRFR). Extracorporeal membrane oxygenation machine or the life support machine is used to treat various lung and heart disease. Its function is to offer the body with sufficient oxygen when the lung and heart do not function properly. The extracorporeal membrane oxygenation machine is used to treat lung cancer and other chronic disorders.
Various factors are adding to the extracorporeal membrane oxygenation machine market growth. According to the new MRFR report, such factors include increasing cases of lung cancer & other chronic diseases, rising geriatric population, growing prevalence of cardiovascular diseases, increasing use of ECMO, technological advances, and increasing awareness programs.
On the contrary, increasing side effects post treatment, technical failures, scarcity of skilled professionals, and high surgery costs are factors that may limit the extracorporeal membrane oxygenation machine market growth over the forecast period.
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 R&D, 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 Key Players
Notable players profiled in the global extracorporeal membrane oxygenation machine market report include Terumo Cardiovascular Systems Corp, Medos Medizintechnik AG, MAQUET Holding B.V. & Co. KG, ALung Technologies, Inc., Nipro Corporation, Microport Scientific Corporation, Fresenius Medical Care AG & Co. KGaA, Terumo Corporation, Siemens AG, Agilent Technologies, Abbott, Livanova PLC, Medtronic, and Getinge Group.
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Nov 10 2020: The global Blockchain Technology market size is expected to reach USD 57,641.3 million by 2025, registering a CAGR of 69.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Blockchain is the underlying technology that originated in the form of a public ledger to keep a track of all cryptocurrency transactions.
This allows various participants that are connected to the network, usually public, to track information through a secure network, thereby eliminating the need for any kind of third-party verification.The market is expected to grow rapidly owing to numerous benefits that it provides, such as eradication of the requirement of a financial institution to validate transactions, reduce duplicative recordkeeping, eliminate reconciliation, minimize error rates, and facilitate faster settlement.
With the use of this technology, the databases could become universal in nature, thereby allowing multiple institutions to use it at the same time to bring various different systems closer together and help increase the efficiency.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/blockchain-technology-market/request-sampleThe global blockchain technology market size is expected to reach USD 57,641.3 million by 2025, registering a CAGR of 69.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Blockchain is the underlying technology that originated in the form of a public ledger to keep a track of all cryptocurrency transactions.
With the use of this technology, the databases could become universal in nature, thereby allowing multiple institutions to use it at the same time to bring various different systems closer together and help increase the efficiency.The increasing demand for this technology across financial services, consumer or industrial products, technology, media , healthcare, transportation, and public sector is largely responsible for driving the market toward growth.
The major drivers include the growing interest of the BFSI sector and increasing merchants accepting cryptocurrencies among others.
This growth can be attributed to growing tendency of institutions and government to inculcate open and efficient transactions.• The application & solution segment is anticipated to grow at the highest CAGR of 71.2% from 2019 to 2025.
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