ECMO works as a life support for those whose heart or lungs are affected by a life-threatening condition or injury. Blood flow is maintained throughout the body, and blood gas balance (oxygen and carbon dioxide) are both maintained by ECMO. The increasing occurrence of cardiopulmonary illnesses and respiratory failures is the main factor driving the market. A surge in the patient of CVDs is one of the prominent factors demanding ECMO machines. As per the Centers for Disease Control and Prevention (CDC), One American life every 37 seconds due to cardiovascular disease.
According to Marketlook Consulting’s research report “Global Extracorporeal Membrane Oxygenation (ECMO) Market Analysis, 2021”, the Global Extracorporeal Membrane Oxygenation (ECMO) market is anticipated to grow at a CAGR of 4.9% during 2022-29 The market would reach to USD 778.5 Mn by 2029.
Based on Modality Type, the market is segmented into Veno-Arterials (VA), Veno-Venous (VV), and others. Among all modalities, veno-arterial is the category to witness the fastest growth during the forthcoming years. Growing number of patients of respiratory disease is contributing to the growth of this market.
Based on Product Type, the market is fragmented into software and ECMO machines. The ECMO segment grabbed a significant market share in 2021. Technological advancement such as hollow pumps, oxygenators and heparin-coated cannula used for various applications in surgeries are contributing to the growth of this segment. Also, growing preferences of the compact ECMO machines would add pace to the market growth in the forthcoming years.
Based on Application Type, the market is bifurcated into Extracorporeal Cardiopulmonary Resuscitation (ECPR), Cardiac and Respiratory segments. In 2021, the respiratory segment held the largest market share due to the rising incidence of cardiac surgery and growing knowledge of ECMO devices in cardiac surgery.
“Global Extracorporeal Membrane Oxygenation (ECMO) Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Extracorporeal Membrane Oxygenation (ECMO) providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
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North America Dominated the Market
Due to the presence of major players and product launches, North America held the majority of the market in 2021. The government's support for high-quality healthcare, the region's high purchasing power parity, and the rising prevalence of diseases like chronic obstructive pulmonary disease in the United States and Canada are all factors contributing to the market's expansion. The availability of advanced medical facilities and benevolent reimbursement practices has increased hospital admission rates, which is anticipated to increase usage rates in this area. Moreover, a growing urban populace and surging awareness among people, and escalating expenditure on health and well-being products are projected to fuel the demand for Extracorporeal Membrane Oxygenation (ECMO) in the forthcoming period as stated in Marketlook Consulting research report “Global Extracorporeal Membrane Oxygenation (ECMO) Market Analysis, 2021”.
According to Marketlook Consulting’, the key players with a considerable market share in the global Extracorporeal Membrane Oxygenation (ECMO) market are Getinge Group, Terumo Corporation, Medtronic PLC, Eurosets, Cytosorbents Corporation, Origen Biomedical, Abbott Laboratories, Fresenius Medical care AG & Co. KGAA, Microport Scientific Corporation, Livanova (Alung Technologies Inc.
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Market Segmentation:
- By Modality Type (Veno-Arterials (VA), Veno-Venous (VV), and others)
- By Product Type (Software, ECMO Machines)
- By Application Type (Extracorporeal Cardiopulmonary Resuscitation (ECPR), Cardiac applications, Respiratory applications)
- By Component Type (Pumps, Controllers, Oxygenators, Cannulas, Accessories)
- By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
- By Company (Getinge Group, Terumo Corporation, Medtronic PLC, Eurosets, Cytosorbents Corporation, Origen Biomedical, Abbott Laboratories, Fresenius Medical care AG & Co. KGAA, Microport Scientific Corporation, Livanova (Alung Technologies Inc.)
Key questions answered in the study:
- What are the current and future trends of the Extracorporeal Membrane Oxygenation (ECMO) industry?
- How the industry has been evolving in terms of modality, component, product demand, and application areas?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the Extracorporeal Membrane Oxygenation (ECMO) industry?
- What is the customer orientation, purchase behavior, and expectations from the Extracorporeal Membrane Oxygenation (ECMO) firms across various regions?
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Research report, Chosen the Global Extracorporeal Membrane Oxygenation Systems Industry, have now been published and offer a very thorough comprehension of the area.
This report is meant for cooperation and consists of secondary and primary research methods.
It covers areas of also to increase the operation of the businesses and companies.
The study report gives a comprehensive evaluation of the marketplace and contains meticulous opinions tendencies expansion factors statistics, factual and marketplace information that is supported.
Projections are revealed by regional exploration of this market.Request Sample Copy at: https://introspectivemarketresearch.com/request/272Key Player Mentioned: Maquet Holding, Medtronic, Terumo Medical, Medos Medizintechnik, Nipro Medical, Sorin Group, MicroPort ScientificProduct Segment Analysis: Veno Artrial (VA), Veno Venous (VV), Artrio Venous (ECOO2 R)Application Segment Analysis: Respiratory, Cardia, Extra-Corporeal Cardiopulmonary Resuscitation (ECPR)Regional Segment Analysis: USA, Europe, Japan, China, India, South East AsiaA considerate and efficient strategy of activity for many organizations starts with an evaluation that is appropriate.
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