Global Extracorporeal Membrane Oxygenation Machine Market, Trends & Analysis - Forecasts To 2026 By Modality (Venoarterial (VA), Venovenous (VV), Arteriovenous (AV)), By Application (Respiratory, Cardiac, Extracorporeal cardiopulmonary resuscitation (ECPR)), By Region (North America, Europe, Asia Pacific, CSA, MEA); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Extracorporeal Membrane Oxygenation Machine Market: Insights
The global extracorporeal membrane oxygenation machine market is expected to generate revenue amounting to USD 292.62 million in 2020, and is projected to reacation for ch to USD 377.80 million by 2026, growing at a CAGR of 4.35% over the forecast period. The rising incidence of cardiopulmonary disease and respiratory failures across the globe is one of the major factor driving the market for extracorporeal membrane oxygenation machine during the forecast period. The increasing number of hospitals offering extracorporeal membrane oxygenation (ECMO) machine services along with rising number of awareness programs are boosting the market growth. Increasing awareness about extracorporeal membrane oxygenation procedures and ongoing technological advancements are further expected to propel the market growth during the forecast period. Increasing geriatric population, and the growing incidence of coronary heart disease across various regions including North America, Europe, Asia Pacific, and Central & South America is further projected to propel the market growth of extracorporeal membrane oxygenation machine. Rising adoption of ECMO as a bridge to lung transplantation, along with growing number of ECMO centers is also driving the market growth. However, complications associated with extracorporeal membrane oxygenation machine such as bleeding, infections, technical failures and high cost are likely to hamper the market growth during the forecast period.
Extracorporeal Membrane Oxygenation Machine Market Size: By Segmentation
The global extracorporeal membrane oxygenation machine market is segmented on the basis of mobility into venoarterial (VA), venovenous (VV), and arteriovenous (AV). The venovenous (VV) segment is expected to hold the largest market share in the global extracorporeal membrane oxygenation machine market during the forecast period. The high incidence of respiratory failure, along with rising lung transplants are driving the market growth for venovenous segment. Increasing incidence of COPD, and technological advancements are propelling the market growth. The arteriovenous (AV) segment is expected to grow at a high CAGR during the forecast period. Arteriovenous are used in the treating patients with cardiac arrest, assisting with algorithm life support strategies to restore blood circulation.
On the basis of application, the global extracorporeal membrane oxygenation machine market is segmented into respiratory, cardiac, and extracorporeal cardiopulmonary resuscitation (ECPR). The respiratory segment is expected to grow at a high CAGR during the forecast period. Increasing prevalence of respiratory disorders and rising awareness of ECMO machines are driving the market growth. Growing number of lung cancer patients and lung transplants, are propelling the market for respiratory segment. According to statistics published by the Extracorporeal Life Support Organization, over 2,600 patients suffer from respiratory illnesses in the U.S every year. The cardiac segment is expected to grow at a significant market share during the forecast period. The increasing incidence of cardiac ailments, and growing cardiac surgeries are driving the market growth for cardiac segment.
Extracorporeal Membrane Oxygenation Machine Market Size: By Region
On the basis of region, the market of extracorporeal membrane oxygenation machine is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The North America region is expected to dominate the market during the forecast period. Increasing prevalence of diseases such as chronic obstructive pulmonary disease (COPD) in the U.S. and Canada is driving the market growth in the region. The presence of sophisticated healthcare facilities and favorable reimbursement policies is expected to boost the usage rate of ECMO machines in the region. According to the Centers for Disease Control and Prevention (CDC), an individual dies every 37 seconds from cardiovascular disease in the U.S. According to the American Heart Association, approximately 1 of every 3 deaths in the U.S. were caused by cardiovascular disease in 2018. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Increase in healthcare expenditure by government and private agencies in order to improve healthcare facilities are driving the market growth in the region.
Extracorporeal Membrane Oxygenation Machine Market Share & Competitor Analysis
Some of the key players operating in the Extracorporeal Membrane Oxygenation Machine market include: Getinge Group, Medtronic PLC, Livanova PLC, Terumo Corporation, Xenios AG, Microport Scientific Corporation, Nipro Corporation, Origen Biomedical, Inc., Alung Technologies, Inc., Eurosets S.R.L., Sorin Group, MAQUET Holding B.V. & Co. KG, and Medos Medizintechnik AG among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In February 2020, the US FDA has cleared the Novalung extracorporeal membrane oxygenation (ECMO) system for the treatment of acute respiratory or cardiopulmonary failure.
In March 2017, Hemovent GmbH filed two additional patents for a gas exchanger and a pump related to its novel and portable extracorporeal membrane oxygenation (ECMO) device.
In February 2016, Terumo Corporation launched CAPIOX FX Advance Oxygenator, the newest addition to the CAPIOX Oxygenator portfolio. The CAPIOX FX Advance replaces the current CAPIOX FX15 and FX25 line of oxygenators.
Extracorporeal Membrane Oxygenation Machine Market Size: By Modality
Extracorporeal Membrane Oxygenation Machine Market: By Application
Extracorporeal Membrane Oxygenation Machine Market: By Region
The global Extracorporeal Membrane Oxygenation Machine Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Extracorporeal Membrane Oxygenation Machine Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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