Competitive Strength of the key Leading Players in Extra Corporeal Membrane Oxygenation (ECMO) System Market to Post a CAGR of 3.6% by 2023, by Key Vendors: ALUNG TECHNOLOGIES, EUROSETS, GETINGE GROUP, LIVANOVA, MEDTRONIC, NIPRO MEDICAL CORPORATION

The global extra corporeal membrane oxygenation system market is expected to register a CAGR of 3.6%, during the forecast period. North America dominates the global market, due to the favorable reimbursement scenario and increasing incidences of lung cancer in the region. Moreover, the presence of large number of ECMO centers in the United States are also contributing to the growth of market.

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Increasing incidences of cardiac disorders
Cardiovascular diseases are the leading cause of death globally. According to the WHO in 2017, 17.7 million people died from cardiovascular diseases, accounting for 31% of all global deaths, and 7.4 million people died from coronary heart disease. Factors, such as, increasing use of tobacco and alcohol, unhealthy diet, and physical inactivity are leading to the rise in cardiovascular diseases, further driving the market.
In addition, technological advancement, rising instances of the chronic obtrusive pulmonary disease (COPD), and increased adoption of ECMO machines are fuelling the growth of global ECMO system market.

Key Developments in the Market
July, 2017 - Castor Branched Aortic Stent-Graft System receives approval from China Food and Drug Administration (CFDA) on 11 July 2017.

Major Players –
ALUNG TECHNOLOGIES INC., EUROSETS, GETINGE GROUP, LIVANOVA PLC, MEDTRONIC, MICROPORT SCIENTIFIC CORPORATION, NIPRO MEDICAL CORPORATION, TERUMO MEICAL CORPORATION, THORATEC, and XENIOS AG, amongst others.

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Risks Associated with ECMO Treatment
The ECMO procedure is used to assist the transition from the cardiopulmonary bypass ventilation, after heart surgery. There are many risks associated with ECMO machines, including bleeding in the skull. The risk of bleeding increasing if a surgical operation is required as the part of the treatment. Most of the times due to the ECMO procedures stroke, arteries or veins are being damaged, that are some of the major risks with ECMO treatment thus restraining growth of the market.
In addition, high costs associated with the ECMO procedures restrict it patients who can afford it. The presence of alternative techniques are also hindering the growth of global ECMO system market.

North America to Dominate the Market
As per the American Heart Association, coronary heart disease is the leading cause of deaths (45.1%), followed by cardiovascular disease in the United States, stroke (16.5%), and heart failure (8.5%). About 5.7 million adults in the United States die of a heart failure every year and ECMO has the potential to reduce the percentage of in-hospital failures. Thus, increasing adoption is fuelling the growth of global ECMO market in that region.

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