Extracorporeal Membrane Oxygenation Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Modality (Venoarterial extracorporeal membrane oxygenation, Venovenous extracorporeal membrane oxygenation, and Arteriovenous extracorporeal membrane oxyg

Increasing Survival Rates with extracorporeal membrane oxygenation to Offer Lucrative Opportunities for Global extracorporeal membrane oxygenation Market during 2022-2028

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According to our new research study on ""Extracorporeal Membrane Oxygenation Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Modality, Application, and Age Group,"" the market was valued at US$ 546.73 million in 2021 and is projected to reach US$ 677.64 million by 2028. It is estimated to grow at a CAGR of 3.1% from 2022 to 2028. The rising prevalence of cardiovascular diseases and respiratory failures and the growing adoption of extracorporeal membrane oxygenation in lung transplantation procedures are driving the market growth. However, the high cost of vaccine development hampers the market growth.

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Extracorporeal membrane oxygenation (extracorporeal membrane oxygenation) is a life support machine used to treat cardiovascular disease and respiratory failure cases. It supports people suffering from heart disease and waiting for an organ transplant. Blockage in a pulmonary artery in the lungs (pulmonary embolism), acute respiratory distress syndrome (ARDS), and COVID-19 are lung diseases where extracorporeal membrane oxygenation is used.
The employment of extracorporeal membrane oxygenation for treating respiratory failure has been increasing in recent years, as treatments with extracorporeal membrane oxygenation are showing promising survival rates. According to BioMed Central, in 2021, the survival rate of respiratory failure patients suffering from COVID-19 was 60% with the treatment using veno-venous extracorporeal membrane oxygenation (V-V extracorporeal membrane oxygenation). Further, extracorporeal membrane oxygenation is recommended to treat patients affected by acute respiratory distress syndrome (ADRS), primary graft dysfunction post lung transplant, and trauma to the lungs as it increases the survival rate of patients. Furthermore, extracorporeal membrane oxygenation increases the survival rate of patients affected by post-cardiac arrest regimens. A radical shift in adopting westernized lifestyles leads to various cardiac disorders. Thus, key players invest significantly in R&D, which results in improved treatment outcomes with extracorporeal membrane oxygenation with an increased survival rate. Thus, the rising survival rate using extracorporeal membrane oxygenation in various treatments is expected to offer lucrative opportunities for the extracorporeal membrane oxygenation market during the forecast period.

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By region, the global extracorporeal membrane oxygenation market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In North America, the US is the largest market. The market in Asia Pacific is expected to grow at the fastest rate during the forecast period. Increasing investments in healthcare infrastructure, strong government support for the healthcare sector, and a large patient population suffering from heart and lung diseases are among the major factors driving the growth of the extracorporeal membrane oxygenation market. According to an article by the National Center for Biotechnology Information (NCBI) on ""Cardiovascular Health and Diseases in China,"" ~ 47% and 44% of all deaths in rural and urban areas, respectively, were recorded due to cardiovascular disease (CVD) in 2019. India, China, Japan, and other countries in Asia Pacific have a significantly growing healthcare sector. Therefore, the region is expected to hold vast potential for the extracorporeal membrane oxygenation market during the forecast period. Furthermore, the penetration of international market players in the China is boosting the growth of the market. In July 2021, Xenios AG, a Fresenius Medical Care company, received approval from the National Medical Products Administration (NMPA) in China for the Xenios console and patient kits for extracorporeal membrane oxygenation therapy.

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Terumo Group, Medtronic Plc, MicroPort Scientific Corporation, LivaNova Plc, Nipro Medical Corporation, Eurosets S.R.L., Getinge AB, Braile Biomedica, Fresenius Medical Care AG & Co KGaA, and Abiomed Inc are among the leading companies operating in the extracorporeal membrane oxygenation market.

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The report segments the extracorporeal membrane oxygenation market as follows:
Based on modality, the extracorporeal membrane oxygenation market is segmented into venoarterial extracorporeal membrane oxygenation, venovenous extracorporeal membrane oxygenation, and arteriovenous extracorporeal membrane oxygenation. Based on application, the market is bifurcated into cardiology and respiratory. In terms of age group, the market is segmented into neonates, pediatrics, and adults. By geography, the global extracorporeal membrane oxygenation market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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