Extracorporeal Membrane Oxygenation Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025
Increasing demand for extracorporeal membrane oxygenation systems for infants with congenital heart problems is contributing to the growth of extracorporeal membrane oxygenation market
According to American Heart Association, approximately 40,000 babies are born with a congenital heart defect in United States each year and around 2 to 3 million individuals are living with a congenital heart defect. Increasing patient population comprising majority of infants with congenital diseases and need for their treatment is the major factor driving the extracorporeal membrane oxygenation market. High rate of cardiovascular and respiratory diseases, increase in adoption of extracorporeal membrane oxygenation system as a bridge to lung transplantation, training programs and conferences to increase awareness about heart diseases, growing number of extracorporeal membrane oxygenation centers, and advances in technology are some of the factors that are expected to propel the growth of the extracorporeal membrane oxygenation market. However, there are some risk factors involved in use of extracorporeal membrane oxygenation system, such as the bleeding, blood clot formation, infection, transfusion problems, and some mechanical problems of the system which might harm the patient, who is already at risk of death. This risk factors involved in the technique are expected to hinder the growth of the extracorporeal membrane oxygenation market.
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Growing incidences of chronic respiratory diseases is contributing to the maximum use of venovenous extracorporeal membrane oxygenation system
The global extracorporeal membrane oxygenation market is segmented by modality, by application, by age group, and by region.
On the basis of modality, the extracorporeal oxygenation market is segmented into
On the basis of applications, the extracorporeal membrane oxygenation market is segmented into
Extracorporeal cardiopulmonary resuscitation
On the basis of age group, the extracorporeal membrane oxygenation market is segmented into
According to fact sheet of Centers for disease control and preventions (CDC) 2014, around 1417,101 deaths from chronic lower respiratory diseases were reported globally. Increased adoption of venovenous extracorporeal membrane oxygenation system for respiratory failure conditions is helping this modality segment to have largest share in the extracorporeal membrane oxygenation market.
North America dominates in the extracorporeal membrane oxygenation market due to its well established healthcare infrastructure
Regional segmentation of extracorporeal membrane oxygenation market by Coherent Market Insights comprises of North America, Latin America, Europe, Africa, Asia Pacific, and Middle East. Well established healthcare infrastructure, government funds, and reimbursement framework are the factors, due to which North America is leading the extracorporeal oxygenation market. Asia Pacific is expected to grow in the extracorporeal membrane oxygenation market due to the advancements in healthcare system with support of government initiatives.
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Major Industries are collaborating with other companies to hold the maximum share in extracorporeal membrane oxygenation market
Key players operating the global extracorporeal membrane oxygenation market includes Medtronic Plc., Getinge Group, LivaNova Plc., Terumo Corporation, Xenios AG, Microsoft Scientific Co., Origen Biomedical, Eurosets S.R.L., Nipro Corporation, Alung technologies Inc., The industry players are adopting the strategy of collaboration with other companies with focusing on development of products. For instance, Medtronic Plc. had collaboration with the Sayler Biomedical LLC, for the development of their product Century heart Lung machine. The collaboration has made the Medtronic’s product available for customers globally. Century heart lung machine has features, such as compact and sturdy design, easy to use components and affordable price.
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