Tech Marvels Revolutionizing Healthcare: A Comprehensive Look at the Projected US$ 908 Billion Global Extracorporeal Membrane Oxygenation Machine Market by 2032 | FMI

In the constantly developing field of medical technology, the Extracorporeal Membrane Oxygenation Machine Market has developed into a revolutionary tool in critical care. These life-supporting devices can provide temporary respiratory and/or cardiac support to patients with severe heart or lung failure. The ECMO system, which functions as an external lung or heart, oxygenates the patient's blood and removes carbon dioxide, allowing their organs to rest and recover. The phenomenal expansion of the global market for ECMO devices is being driven by advancements in technology, more awareness, and an increase in respiratory and cardiac diseases.

ECMO machines, which were primarily used in paediatric settings when they were first used, are today used by newborns, kids, and adults alike. In addition to providing cardiac and respiratory support, they are now also employed for ECMO-assisted organ transplant procedures, the treatment of acute respiratory distress syndrome (ARDS), COVID-19-related respiratory failure, and the management of trauma-induced lung injury.

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Extracorporeal membrane oxygenation machine sales were estimated at US$ 531 million in 2021. From 2022 to 2032, the market is projected to grow steadily at a CAGR of 5%, reaching US$ 908 billion by the end of that year.

The market for ECMO machines has shown tremendous growth in recent years and is anticipated to keep growing quickly. The frequency of respiratory and cardiac disorders, the ageing of the population, and the increased need for sophisticated life-support systems are all factors that are fueling this expansion. Additionally, it is anticipated that ongoing research and development activities in ECMO technology would further improve its capabilities and stimulate market growth.

Key Takeaways:

• By application, high demand for early diagnosis and diagnostic imaging, and technological advancements in the extracorporeal membrane oxygenation machine market are expected to propel the respiratory segment to the top.

• The arterio-venous segment is likely to hold the majority of the market based on modality owing to the benefits associated with this technology segment, such as effective dynamic range, thereby boosting the ECMO systems market growth.

• Based on patient type, the adult segment is projected to lead the market as the global burden of cardiac and respiratory diseases in adults is rising due to increased consumption of alcohol, tobacco, smoking, and a sedentary lifestyle.

Because of the presence of major players and the rising number of product launches, government support for high-quality healthcare, which is also seen as one of the key trends in the ECMO systems market, and the rising prevalence of diseases in the United States and Canada, such as chronic obstructive pulmonary disease, which increases hospital admission and is favoured by reimbursement policies, the North American market is anticipated to lead the ECMO systems market. an FMI analyst claims.

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Competitive Landscape:

• Medtronic plc (USA),
• Fresenius Medical Care A.G. & Co. KGAA (Germany),
• Getinge Group (Sweden),
• Microport (China),
• Origin Biomedical (USA),
• Terumo Cardiovascular Systems Corporation,
• Livanova plc (United Kingdom),
• Nipro Corporation (Japan),
• Euro sets S.R.L. (Italy),
• Cytosorbents Corporation (Australia),
• Abiomed

Major global players produce the majority of ECMO support systems. Market leaders have established their position by investing more in research and having a better distribution system.

To stay competitive in the market, extracorporeal membrane oxygenation machines manufacturers are actively involved in product launches and technological innovation.

• ALung Technologies, Inc. has begun commercialization of its ground-breaking next-generation artificial lung. The device is based on University of Pittsburgh intellectual property licensed to ALung Technologies, Inc.

• Medtronic has released its artificial lung therapy for the treatment of COVID-19. An artificial pump that pumps blood from a person's body to an oxygenator is called ECMO, and it also has an FDA-approved device for ECMO procedures lasting up to 6 hours.

Key Segments By Product:

• ECMO Machines
o Portable Devices
o Static Devices
• Software

By Service Type:

• Application
• Middleware
• Infrastructure

By Component:

• Pumps
• Oxygenators
• Controllers
• Cannul
• Assessories

By Modality:

• Veno-Venous
• Veno-Arterials
• Arterio-Venous

By Patient Type:

• Neonates
• Pediatrics
• Adults

Explore FMI's related ongoing Coverage on Healthcare Market Insights Domain:

Extracorporeal CO2 Removal Devices Market: https://www.futuremarketinsights.com/reports/extracorporeal-co2-removal-devices-market

Membrane Microfiltration Market: https://www.futuremarketinsights.com/reports/membrane-microfiltration-market

Amniotic Membranes Market: https://www.futuremarketinsights.com/reports/amniotic-membrane-market

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This release was published on openPR.