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(Health-NewsWire.Net, November 02, 2021 ) According to 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 factors such as the growing cardiovascular and respiratory diseases, rising adoption of ECMO as a bridge to heart & lung transplantation, growing number of ECMO centers, conferences and training programs to increase awareness, and technological advancements are the significant factors driving the growth of this market. In addition, the growing aging population and the number of people suffering from cardiopulmonary diseases in populous countries such as India and China are factors that are expected to offer significant growth opportunities for ECMO systems.
The report analyzes and studies the major market drivers, restraints/challenges, and opportunities for the forecast period of 2016 to 2021. A number of factors such as the growing cardiovascular and respiratory diseases, rising adoption of ECMO as a bridge to heart & lung transplantation, growing number of ECMO centers, conferences and training programs to increase awareness, and technological advancements are the significant factors driving the growth of this Extracorporeal Membrane Oxygenation Machine Market. In addition, the growing aging population and the number of people suffering from cardiopulmonary diseases in populous countries such as India and China are factors that are expected to offer significant growth opportunities for ECMO systems. However, complications associated with ECMO such as bleeding, infections, and technical failures; along with high cost and lack of skilled professionals is a challenge to the market.
The global ECMO machine market is segmented on the basis of modality, applications, and regions. Based on the modality, the global 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.
Based on application, the global Extracorporeal Membrane Oxygenation 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.
A number of key players are competing against each other to expand their existing customer base. Getinge Group (Sweden), Medtronic plc (Ireland), and LivaNova PLC (U.K.) are the top three players of the extracorporeal membrane oxygenation (ECMO) machine market. These players jointly accounted for a share of 65% to 70% of the total ECMO machine market in 2015.
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.
Medtronic plc (Ireland) is the second-largest player in the global market. The company develops, manufactures, and supplies a broad range of ECMO machines. The company produces and markets oxygenation systems, centrifugal pumps, cannulae, and tubing packs. The company offers its ECMO products through the cardiac and vascular group. The company practices globalization strategy by offering solutions tailored to market needs and expanding access to emerging markets. The company focuses on the rapid and cost-effective delivery of its products to a diverse group of customers.
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On the basis of region, the global Extracorporeal Membrane Oxygenation 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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