01-10-2019 08:02 PM CET - Health & Medicine

Growth Dynamics on Extracorporeal Membrane Oxygenation Market| Key Players: Kalila Medical, ALung Technologies, Braile Biomédica

Press release from: Global Market Insights
Extracorporeal Membrane Oxygenation Market
Extracorporeal Membrane Oxygenation Market
The Extracorporeal Membrane Oxygenation Market is set to exceed USD 357 million by 2024; according to a new research study published by Global Market Insights, Inc.

Increase in cases of cardiopulmonary diseases and respiratory failure in Asia Pacific region will propel the extracorporeal membrane oxygenation market over the forecast timeframe. Currently there are around 4.2 million people with heart failure in China and around 1 million people in Japan. High patient population, developing healthcare infrastructure and high prevalence of cardiopulmonary disorders will lead to industry growth.

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Venoarterial (VA) modality accounted for majority of market with a value of USD 124.6 million in 2017. Recent technological advancement in mechanical circulation has resulted in quality and survival of increasing number of patients suffering from advanced heart failure and other cardiopulmonary disorders. Increase in use of veno-arterial (VA) ECMO in patients with several aetiology of cardiogenic shock will drive the demand for venoarterial ECMO.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Kalila Medical
• ALung Technologies
• Braile Biomédica
• Edwards Lifesciences
• Eurosets
• Maquet Getinge Group
• LivaNova
• Visualase, Inc.
• Microport Scientific Corp
• Nipro Medical Corporation
• OriGen Biomedical
• Spectrum Medical Ltd
• Terumo Medical Corporation

Veno-venous ECMO (VV-ECMO) modality is estimated to witness considerable growth in the projection period at a CAGR of 3.3%. It is the treatment of choice for the patients with conventional medical treatments and for patients with respiratory failure and optimal mechanical ventilation. Though veno-venous ECMO is complex technique and poses substantial risks, it provides complete respiratory support for the patients increasing the survival rate. Aforementioned factors will be responsible for the business growth in the future.

ECMO application in respiratory diseases held the majority of market share, accounting for around USD 168.8 million in 2017. According to World Health Organization, more than 3 million people die each year from chronic obstructive pulmonary disease (COPD), accounting for over 6% of the total global deaths. ECMO has exceptionally progressed in the last few years and has become an invaluable tool in the care of patients with respiratory disorders. Increase in use of ECMO in treatment of children and adults with severe respiratory diseases will propel the industry growth in upcoming years.

Adult patient population subjected to ECMO use will witness significant growth at a CAGR of 4.6% from 2018 to 2024. ECMO has been widely used in treatment of both cardiac and respiratory failure and is invaluable and viable therapy for adults. According to Johns Hopkins Health System, heart disease is the most serious health problem in U.S., with an estimated 15 million adults suffering coronary heart disease. Hence, increase in adult patients with severe cardiac and respiratory failure introduced to ECMO early in the course of diseases will boost the market growth.

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U.S. dominated North America ECMO market with a value of USD 94.9 million in 2017. According to American Lung Association, Chronic Obstructive Pulmonary Disease (COPD) is the third leading cause of death in the Unites states, with more than 11 million people diagnosed with COPD. Ongoing technological advancements leading to production of superior ECMO devices and increase in number of people suffering from cardiac and respiratory disorders will lead to U.S. retaining higher market share over the forecast timeframe.

Extracorporeal Membrane Oxygenation Market by Modality
• Venoarterial (VA)
• Veno-venous (VV)
• Arteriovenous (AV)

Extracorporeal Membrane Oxygenation Market by Application
• Cardiac
• Respiratory
• Extracorporeal cardiopulmonary resuscitation (ECPR)

lobal Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.

Global Market Insights, Inc.
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Selbyville, Delaware 19975 USA
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

This release was published on openPR.
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