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(Health-NewsWire.Net, April 24, 2021 ) 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%.
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A number of key players are competing against each other to expand their existing customer base. Getinge Group (Sweden), LivaNova PLC (U.K.) and Medtronic plc (Ireland) are the top three players of the extracorporeal membrane oxygenation (ECMO) machine market.
Getinge Group is the largest player in the global market. The company offers its ECMO products under its Maquet brand. The firm develops and commercializes ECMO products and is one of the leading manufacturers of heart-lung machines, oxygenators, pumps, catheters, cannulae, and other accessories. The company’s business segments include Medical Systems, Extended Care, and Infection Control. The Medical Systems segment offers a wide range of ECMO devices. The company also develops innovative products such as CARDIOHELP system which is a portable heart-lung support system in the market.
Based on application, the global ECMO machine market is segmented into Respiratory, Cardiac, and Extracorporeal Cardiopulmonary Resuscitation (ECPR). The respiratory segment is estimated to account for the largest share of the market in 2016. The large share of this segment can be attributed to factors such as rising incidence of respiratory failure, lung cancer, and lung transplants, and increasing adoption of ECMO.
Based on the modality, the global ECMO machine market is segmented into venoarterial (VA), venovenous (VV), and arteriovenous (AV). The venovenous (VV) segment is estimated to account for the largest share of the global market in 2016, and venoarterial (VA) segment is projected to grow at the highest CAGR in the forecast period.
On the basis of region, the global ECMO Machine Market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America accounted for the largest share of the market, followed by Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific market is projected to grow at the highest CAGR and serve as a revenue pocket for companies offering ECMO systems.
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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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