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(Health-NewsWire.Net, September 17, 2019 ) According to the new market research report ECMO Machine Market is expected to reach USD 305.3 Million by 2021 from USD 247.2 Million in 2016, at a CAGR of 4.3%. The growth of the market can be contributed to the growing cardiovascular and respiratory diseases, rising adoption of ECMO as a bridge to lung transplantation, growing number of ECMO centres, conferences & training programs to increase awareness, and technological advancements.
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The growth of the extracorporeal membrane oxygenation ECMO machine market is expected to be centered in the Asia-Pacific region. Japan is a mature market for ECMO machines, whereas China and India are emerging markets. The reimbursement policies in Japan encourage the adoption of highly advanced techniques such as ECMO. As a result, the Japanese population receives access to healthcare facilities at affordable costs.
The rising geriatric population & cardiovascular diseases in China, growing applications, rising adoption of ECMO in India, and prevalence of cardiovascular & respiratory diseases in Australia are the major factors driving the growth of the ECMO machine market in the Asia-Pacific region.
The overall ECMO machine market in China is expected to grow rapidly in the coming years due to the increasing number respiratory & cardiac diseases. The prevalence of cardiovascular disease (CVD) in China is expected to increase by more than 50% between 2010 and 2030 (Source: Cadi Research Foundation). As a result, there will be more than 21 million cases of CVD in China between 2010 and 2030, which would yield potential patients for the ECMO market.
India is witnessing an increase in the ECMO machine market, due to high adoption of ECMO machines. For instance, ECMO technology was used for the treatment of acute respiratory distress syndrome (ARDS) caused due to influenza A (H1N1) disease. ECMO machines are now widely being used to treat adults, and the use of it on neonates is also growing slowly.
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In the Asia-Pacific countries, various conferences are being organized to create awareness of advancements and the emerging usage of ECMO systems. Conferences establish a platform for the exchange of new advancements occurring in the field of ECMO systems. They also offer players the opportunity to showcase their products and communicate with stakeholders, while helping scientists and researchers to exchange experiences and build research relations.
Some of the recent events in the Asia-Pacific region includes Asia-Pacific ELSO Conference 2017 (Australia, October 2017), ECMO Current Challenges and Future Perspectives (India, 2016), Extracorporeal Life Support Organization (ELSO), and Asia Pacific ELSO (APELSO) 2013 Meeting (China, 2013).
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