Global Extra Corporeal Membrane Oxygenation (ECMO) System Enhances its Market Major Competitors, Regional Segments, Strategies and Forecast 2030

Inkwood Research estimates that the Global Extra Corporeal Membrane Oxygenation (ECMO) System Market is predicted to project a CAGR of 4.74% in terms of revenue during the forecast period, 2019-2028.
"Browse 27 Market Data Tables and 38 Figures spread over 150 Pages, along with an in-depth TOC on the Global Extra Corporeal Membrane Oxygenation (ECMO) System Market Forecast 2019-2028."

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Extra Corporeal Membrane Oxygenation System (ECMO) is a device that consists of membrane oxygenator, cannula, centrifugal pump, oxygen blender, venous reservoir, heat exchanger, and post membrane pressure monitor utilized during respiratory and cardiac surgeries. It has high demands across the globe, given the rising prevalence of cardiovascular, respiratory, and cardiopulmonary diseases.

Rising Usage of ECMO propels Market Growth
ECMO therapy is recommended for patients with abnormally functioning heart and lungs. It is primarily used in neonatal intensive-care units, for newborns with pulmonary distress. It has proved to be effective in saving the newborn's life. It is also being used for respiratory and circulatory assistance in postcardiotomy cardiogenic shock. The therapy has also proved to bear effective results in patients with cardiogenic shock and cardiac arrest, as per a study by Cureus, 2019.
The growing popularity of ECMO technology as a result of its rising applications and latest advancements are boosting the market growth. Chronic diseases are increasingly becoming prevalent, contributing to the global mortality rate. The geriatric population across the globe has resulted in an increased number of deaths from cardiovascular diseases.
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Respiratory Application is set to fare the Highest in terms of CAGR & Market Share
ECMO finds extensive use in respiratory conditions. ARDS (acute respiratory distress syndrome) is one of the prominent indications studied for ECMO therapy. It is a fatal condition caused by diffuse alveolar damage and capillary endothelial injury, resulting in non-compliant lungs and poor oxygenation. ECMO therapy is also used for Hypercapnic Respiratory Failure, which is a chronic respiratory failure characterized by elevated levels of carbon dioxide in the blood. This was confirmed with clinical trials.
Asthma affects the air passages of the lungs, causing inflammation and narrowing them. The prevalence of asthma is hastening its pace. ECMO can be used to supply ample gas exchange and prevent lung injury caused by mechanical ventilation. According to a report by Hye Ju Yeo et al., the use of ECMO in near-fatal asthma cases has increased over the years.

North America - The Region with Maximum Market Share in 2019
North America encompasses surging cases of cardiovascular and respiratory diseases. Coronary heart disease was responsible for almost 13% of deaths in the US in 2017. As per the CDC, approximately 5.7 million adults in the United States die of heart failure every year. ECMO is said to have the potential to reduce the percentage of in-hospital failures. Asthma is prominent in Canada. In 2019 alone, the country had more than 3.8 million individuals suffering from asthma. ECMO, given its life-affirming qualities, is seen as a viable option.
Few global companies dominate the market. Innovation is seen as a strategy to sustain competition and gaining an advantage. They are also investing significantly in fueling product differentiation and expanding clinical applications. Abbott Laboratories, Microport Scientific Corporation, Medtronic PLC, Getinge AB, etc. make it to the list of prominent companies in the market.

Related Reports:
GLOBAL CLINICAL NUTRITION MARKET
GLOBAL PULSE OXIMETER MARKET
GLOBAL LIQUID BIOPSY MARKET
GLOBAL VENTILATOR MARKET

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