Extracorporeal Membrane Oxygenation Machine Market is anticipated to grow at a CAGR of 4.8% during the forecast period 2023-2031

The global extracorporeal membrane oxygenation machine market was valued at USD 541 million in 2021 and it is anticipated to grow further up to USD 862 million by 2031, at a CAGR of 4.8% during the forecast period.

New York, According to a new market research report published by Global Insight Services Extracorporeal Membrane Oxygenation Machine Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Extracorporeal Membrane Oxygenation Machines assist patients who have trouble giving their body's heart and lungs enough oxygen. For many patients, it serves as a life support system since it supports their respiratory systems. For those with life-threatening illnesses, good respiratory function is essential, which is why the Extracorporeal Membrane Oxygenation Machine is available to them. The market for extracorporeal membrane oxygenators is expanding because of the rising incidence of cardiovascular disorders, respiratory issues, and the quickening adoption of ECMO. The global market for ECMO is being boosted by both ECMO usage and an increase in ECMO centers.

Market Trends and Drivers

The increasing adoption of ECMO in lung transplantation procedures is boosting the growth of the market. In recent years, there has been a surge in lung transplantation, particularly for the treatment of advanced lung conditions such as cystic fibrosis, interstitial lung disease, and chronic obstructive pulmonary disease (COPD). The use of ECMO equipment in lung transplant operations has grown dramatically over time in the treatment of patients with advanced lung disease. Primary Graft Dysfunction (PGD) following lung transplantation is the most typical reason for using ECMO. PGD is a syndrome that develops within the first 72 hours of a lung transplant. Numerous studies have demonstrated promising results in relation to the use of ECMO as a bridging approach as well as therapy for individuals suffering from PGD after transplant thanks to substantial technological advancements. In the upcoming years, it is anticipated that ECMO use would increase even more due to the rising prevalence of lung illnesses worldwide.

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Market Restraints and Challenges

The high cost of ECMO products is anticipated to hinder the growth of the market. ECMO is a pricey form of treatment. Aside from the expenditures related to the systems, there are other costs associated with hospital stays and additional disposable accessories. The cost of the treatment increases with the need for a large medical staff to care for the patient receiving an ECMO procedure, albeit the cost varies depending on how long it is used. The typical hospital stays for a patient receiving ECMO support is between one and two weeks, although depending on how serious the patient's condition is, it may last longer. The majority of patients are unable to pay the procedure's increased overall cost.

Major Players of the Global Extracorporeal Membrane Oxygenation Machine Market

The key players studied in the market are FRESENIUS MEDICAL CARE AG & CO. KGAA, GETINGE GROUP, MEDTRONIC PLC, MICROPORT, TERUMO CARDIOVASCULAR SYSTEMS CORPORATION, NIPRO CORPORATION, LIVANOVA PLC, EUROSETS S.R.L., ORIGEN BIOMEDICAL, INC., CYTOSORBENTS CORPORATION, ABIOMED, BRAILE BIOMÉDICA, SPECTRUM MEDICAL, HAEMONETICS, XENIOS AG, among others.

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Reasons to buy Extracorporeal Membrane Oxygenation Machine Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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