Extracorporeal Membrane Oxygenation Machine Market: Competitive Dynamics & Global Outlook 2021

2019 Research Report on Global Extracorporeal Membrane Oxygenation Machine Market is a professional and comprehensive report on the Extracorporeal Membrane Oxygenation Machine industry.

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The extracorporeal membrane oxygenation (ECMO) machine market is poised to reach USD 305.3 million by 2021 from USD 247.2 million in 2016, at a CAGR of 4.3%.Factors such as growing cardiovascular and respiratory diseases, rising adoption of ECMO as a bridge to lung transplantation, growing number of ECMO centers, conferences and training programs to increase awareness, and technological advancements have led to the growth of the market.

On the basis of modality, the market is segmented into venoarterial (VA), venovenous (VV), and arterio venous (AV). The venovenous (VV)segment is expected to account for the largest share of the market in 2016. The large share of this segment is mainly attributed to the high incidence of respiratory failure, rising lung transplants, and technological advancements. The arteriovenous (AV)segment is projected to grow at the highest CAGR in the forecast period.

Based on application, the respiratory segment is expected to account for the largest share of the market, in 2016. The large share of this segment is mainly attributed to factors such as rising incidence of respiratory failure, lung cancer, growing lung transplants, and increasing adoption of ECMO systems.

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North America is expected to account for the largest share of the global market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World (RoW).The large share of the North American region can be attributed to the favorable reimbursement scenario, the rising incidence of lung cancer, and the presence of a large number of ECMO centers in the U.S.

The Asia-Pacific region is expected to witness the highest growth rate in the forecast period, mainly due to the favorable reimbursement scenario in Japan, the rising cardiovascular diseases in China, the growing application and adoption of ECMO in India, and the rising cardiopulmonary disorders in Australia.

The market witnesses high competitive intensity, as there are several big and small firms with similar product offerings. These companies adopt various strategies (approvals, product launches, agreements & partnerships, expansions, rebranding, acquisitions, website launches, product deployments, and market development) to increase their market shares and establish a stronger foothold in the global market.

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In the end, the Global Extracorporeal Membrane Oxygenation Machine Market report’s conclusion part notes the estimation of the industry veterans.

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