Extracorporeal Membrane Oxygenation Machine Market projected to expand at a CAGR of 5.4% from 2019 to 2027
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Extracorporeal membrane oxygenation system is used for the patient suffering from heart failure and lung failure. Extracorporeal membrane oxygenation refers to one of the extracorporeal lung assist (ECLA) technologies, primarily adopted to partially or completely replace the cardiopulmonary function of patients to protect the oxygen supply of the organs and strive for time to treat primary diseases
The world is currently experiencing the pandemic of an infectious disease called COVID-19. Government is taking initiatives to address these urgent public health concerns by helping to increase the availability of products and expanding the indication of extracorporeal membrane oxygen system. For instance, for the treatment of COVID-19, China Ministry of Health guidelines consider that extracorporeal membrane oxygenation (ECMO) can act as a salvage treatment measure. This in turn to creates significant opportunity in the extracorporeal membrane oxygenation machine market
The extracorporeal membrane oxygenation machine market is currently a booming one, owing to current exceptional crisis scenario of the COVID-19 pandemic.
North America dominate the global extracorporeal membrane oxygenation machine market in 2018 and the trend is anticipated to continue during the forecast period. The growth of market in the region is attributed due to well established healthcare infrastructure and presence of large number of extracorporeal life support organizations.
Asia Pacific is likely to be a highly lucrative market for the extracorporeal membrane oxygenation machine market and it is expected to expand at a high CAGR during the forecast period. Vast patient pool, increasing healthcare expenditure and demand for newer advanced therapies are key factors likely to boost extracorporeal membrane oxygenation machine market in Asia Pacific.
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Higher Survival Rates Due to the Use of ECMO Life Support Machines to Drive Global Extracorporeal Membrane Oxygenation Machine Market
The use of extracorporeal life support in neonates, pediatric and adult patients suffering from respiratory, cardiac and ECPR distress has increased the survival rates. According an article published in NCBI, the survival rate in neonates suffering from respiratory diseases was 84%; it was 62% in case cardiac diseases; and 64% in case of ECPR. In pediatric patients, the survival rate was 66% in case of respiratory diseases; 67% in case of cardiac diseases; and 55% in case of ECPR. In adults, the survival rate was 66% in case of respiratory diseases; 56% in case of cardiac diseases; and 40% in case of ECPR. These survival rates were much higher than those in patients without any support after discharge. Thus, higher survival rates due to use of ECMO machines in patients suffering from respiratory distress, cardiac arrest, and ECPR are likely to augment the use of ECMO machines during the forecast period.
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Oxygenators Segment to Dominate Extracorporeal Membrane Oxygenation Machine Market
In terms of component type, the global extracorporeal membrane oxygenation machine market has been segmented into pumps, oxygenators, heat exchangers, saturation monitors and others. High product price, new product innovation, and technological advancement are the key driving factors for the oxygenators segment. Pumps segment further bifurcated into roller pumps and centrifugal pumps. Advantages such as easy maintenance and less capital costs are likely to accelerate the pumps segment growth in the near future.
Respiratory Segment Hold a Major Share of Global Extracorporeal Membrane Oxygenation Machine Market
Based on application, the global extracorporeal membrane oxygenation machine market has been segmented into respiratory, cardiology and extracorporeal cardiopulmonary resuscitation. The growing consumption of alcohol and tobacco globally is expected to increase the COPD population, which will ultimately fuel the growth of respiratory segment.
Venovenous Segment to Dominate Extracorporeal Membrane Oxygenation Machine Market
In terms of modality, the global extracorporeal membrane oxygenation machine market has been segmented into venoarterial, venovenous and arteriovenous. Adoption of technologically advanced products is likely augment the growth of segment
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North America to Dominate Global Extracorporeal Membrane Oxygenation Machine Market
In terms of region, the global extracorporeal membrane oxygenation machine market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global extracorporeal membrane oxygenation machine market in 2018, followed by Europe.
North America accounted for major share of the global extracorporeal membrane oxygenation machine market in 2018. Supportive healthcare and payer infrastructure and hub for key industry players are the major drivers of the extracorporeal membrane oxygenation machine market in the region.
The extracorporeal membrane oxygenation machine market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. Unmet medical needs, untapped nature of the market, improving health care infrastructure and increase in awareness regarding the chronic diseases are the key factors for extracorporeal membrane oxygenation machine market growth in the region
The global extracorporeal membrane oxygenation machine market is fragmented in terms of number of players. Key players in the global extracorporeal membrane oxygenation machine market include Terumo Corporation, Medtronic plc, Getinge AB, LivaNova PLC, Nipro Corporation, MicroPort Scientific Corporation, XENIOS AG, OriGen Biomedical, EUROSETS and Hemovent GmbH
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