The new report by Expert Market Research titled, ‘Global Extracorporeal Membrane Oxygenation Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global extracorporeal membrane oxygenation market, assessing the market based on its segments like component, modality, patient type, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 210 Million
- Forecast CAGR (2021-2026): 8%
- Forecast Market Size (2026): USD 278 Million
The global spread of the COVID-19 has resulted in a huge increase in the demand for ECMO machines. Patients with severe COVID-19 infection require these machines because their compromised immunity and long-term symptoms put them vulnerable to organ failure. This is estimated to positively impact the market growth in the forecast period. Growing cardiovascular and respiratory disorders, expanding usage of ECMO as a bridge to lung transplantation, increasing number of ECMO centres, conferences, and training programmes to enhance awareness, and technological improvements are all contributing to the market's growth. As a result of rising respiratory disorders, particularly among the elderly, and rising levels of air pollution around the world, the respiratory segment is expected to grow significantly. During the projected period, these factors are expected to contribute to overall market growth.
Industry Definition and Major Segments
Extracorporeal membrane oxygenation (ECMO), also known as extracorporeal life support (ECLS), is an extracorporeal procedure for giving long-term cardiac and respiratory support to people whose hearts and lungs are unable to generate enough gas exchange or perfusion to keep them alive. Cardiopulmonary bypass, which provides shorter-term assistance with stalled native circulation, is a major source of ECMO technology.
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By component, the market is divided into:
- Pumps
- Oxygenator
- Controllers
- Cannula
- Accessories
On the basis of modality, the market can be segmented into:
- Veno-Arterial
- Veno-Venous
- Arterio- Venous
Based on patient type, the industry can be categorised into:
- Neonates
- Paediatric
- Adult
On the basis of application, the market can be distributed into:
- Respiratory
- Cardiac
- Extracorporeal Cardiopulmonary Resuscitation (ECPR)
On the basis of region, the industry is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The growing geriatric population, and the number of persons suffering from chronic diseases in developing nations, are predicted to provide considerable growth possibilities for ECMO systems. The increasing healthcare expenditure by government and private agencies in order to improve healthcare facilities is adding growth to the market. The market is also benefitting from the rising survival rate of ECMO machine-assisted surgery for cardiac and respiratory patients. The use of ECMO machines has grown in popularity throughout the years. When the heart and lungs are unable to carry out the process of blood oxygenation, an ECMO equipment supplies oxygen and eliminates carbon dioxide. Adults, infants, and children with respiratory and/or cardiac failure owing to birth abnormalities, trauma, or severe infection are treated with ECMO. The favourable reimbursement scenario, rising incidence of lung cancer, and the presence of a large number of ECMO centres are expected to boost the market for ECMO systems.
Key Market Players
The major players in the market are Medtronic PLC, LivaNova PLC, Terumo Corporation, MicroPort Scientific Corporation, and Getinge AB, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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