Extracorporeal Membrane Oxygenation Machine Market Share, Size, Trends, Industry Analysis Report, By Component (Pumps, Oxygenators, Controllers, Cannula, Accessories); By Modality (Veno-Arterial, Veno-Venous, Arterio-Venous); By Patient Type; By Application; By Regions; Segment Forecast, 2021 - 2028
- Published Date:Feb-2021
- Pages: 107
- Format: PDF
- Report ID: PM1802
- Base Year: 2020
- Historical Data: 2016 - 2019
Report Outlook
The global extracorporeal membrane oxygenation (ECMO) machine market size and share was valued at USD 202.1 million in 2020 and is expected to grow at a CAGR of 5.3% during the forecast period. Key drivers responsible for the market growth include rising cases of cardio-pulmonary disorders and respiratory problems across the globe.
Product innovations, technological advancements, and the introduction of regulatory policies have been detailed in the report to enable businesses to make more informed decisions. Furthermore, the impact of the COVID-19 pandemic on the extracorporeal membrane oxygenation (ECMO) machine market demand has been examined in the study. The report is a must-read for anyone looking to develop effective strategies and stay ahead of the curve.
In extracorporeal membrane oxygenation, blood is forced exterior of the body to a heart-lung machine that separates carbon dioxide and dispatches oxygen-filled blood to recapitulate tissues in the body. Blood passes through the right edge of the heart to the membrane oxygenator in the heart-lung apparatus and then proceeds back to the body. This procedure permits the blood to divert to the heart and lungs, permitting these organs to repose and heal. It is utilized in condemnatory care conditions when the heart and lungs require assistance so that one can heal.
An ECMO machine is a life-sustaining instrument for people who are disparagingly ill as it can reinforce their lungs and heart. The extracorporeal membrane oxygenation machine market size is expanding as the positive impact it can have is that it relaxes the tension on the heart and lungs, rendering it feasible for these organs to restore. It remains alive in the course of surgery or other medical processes, it reinforces a person as they await a transplant, and it assists infants who come forth with heart issues or lungs that were not totally advanced.
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According to the market statistics published by the Centers for Disease Control and Prevention (CDC), in the U.S. alone an individual dies every 37 seconds from such cardio-vascular disorders. In 2018, COPD is one of the leading causes of death in the country. Moreover, there is an increasing trend of adopting extracorporeal membrane oxygenation machine services by the hospitals, coupled with the awareness programs also influencing its growth.
As per the Federal Agency of Health Research and Quality, till 2018, around 6890 extracorporeal membrane oxygenation machine procedures were performed in the U.S. Thus, owing to such factors the adoption of extracorporeal membrane oxygenation machines in healthcare facilities has increased significantly.
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Industry Dynamics
Growth Drivers
The recent spike in COVID-19 patients has boosted the adoption of extracorporeal membrane oxygenation machines. As per the statistics published by the Extracorporeal Life Support Organization (ELSO), in 2019, the number of hospitals offering extracorporeal membrane oxygenation services has risen to 264 and is currently used for the treatment of COVID-19 patients.
Moreover, increasing awareness about extracorporeal membrane oxygenation services, coupled with technological advancements is further projected to propel the market growth. Several individual governments are pledged to spread awareness about the benefits of extracorporeal membrane oxygenation services in the market.
For instance, an initiative such as Global Initiative for Chronic Obstructive Lung Disease (GOLD) is a dedicated organization engaged in creating positive awareness among COPD patients about to use of extracorporeal membrane oxygenation machines in the market.
Report Segmentation
The market is primarily segmented on the basis of component, modality, patient type, application, and geographic region.
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Insight by Component
The oxygenator market segment accounted for the largest revenue share of more than 34%, in 2020. Such a high share is attributed to its high preference over other systems. Its high efficiency is due to the acute exchange rate, primarily due to pump head thrombosis, mechanical failure, and acute oxygenator thrombosis.
The pump extracorporeal membrane oxygenation machine market segment is projected to register a lucrative growth rate over the assessment period. Market growth in the segment is due to the high adoption of pumps in extracorporeal membrane oxygenation machine procedures, and the availability of several types of pumps, such as impeller, and rollers. These pumps are used in several applications and can be customized according to the client’s requirements.
Insight by Modality
Based upon modality, the global extracorporeal membrane oxygenation machine market is categorized into veno-arterial, veno-venous, and arterio-venous. In 2020, the veno-arterial market segment accounted for the majority of the share during the assessment period. Such a high share is attributed to its high use in treating patients suffering from cardiac ailments.
Veno-venous market segment is projected to witness a lucrative growth rate over the assessment period. The adoption of extracorporeal membrane oxygenation services in the market segment is due to the rising incidence of COPD, across the globe. As per estimates of the WHO, in 2016, there were around 251 million cases of COPD and it is expected that number is expected to rise significantly in the coming years. Thus, the segment will exhibit a positive growth trajectory.
Insight by Application
Based on application, the global extracorporeal membrane oxygenation machine market is categorized into respiratory, cardiac, and ECPR. In 2020, the respiratory market segment accounted for the majority of the share during the assessment period. Key drivers influencing the market segment’s growth include the rising prevalence of respiratory diseases and associated ill effects. As per the statistics published by the ELSO, more than 2,600 people in the U.S. alone, suffer from respiratory problems.
The cardiac surgery extracorporeal membrane oxygenation machine market segment is expected to register a lucrative growth rate over the study period. Rising cardiac surgeries and the use of extracorporeal membrane oxygenation machines in such surgeries are likely to shape the segment’s future.
According to estimates of the American Heart Association, in 2016, around 1 in every 3 people in the U.S. died from cardiovascular disorder and it is expected that the direct medical cost of such heart-related ailments is projected to reach more than USD 749 million, by 2035.
Geographic Overview
North America extracorporeal membrane oxygenation machine industry accounted for the majority of the share. Region’s market growth is attributed to the rising prevalence of target diseases such as COPD in both the U.S. and Canada, the government’s commitment towards quality healthcare, the presence of key players with innovative solutions, and the high purchasing power capacity of hospitals.
Moreover, the presence of sophisticated healthcare infrastructure, with high disposable income of patients led to an increase in hospital admission rates, which, in turn, also favored the region’s growth prospects.
Competitive Insight
The prominent players operating in the extracorporeal membrane oxygenation machine industry are MAQUET Holding B.V., Medtronic plc, Nipro Medical Corporation, Sorin Group, Terumo Cardiovascular Systems, Medos Medizintechnik AG, and Microport Scientific.
Uncover the dynamics of the extracorporeal membrane oxygenation (ECMO) machine sector in 2024 with detailed statistics on market share, size, and revenue growth rate meticulously curated by Polaris Market Research Industry Reports. This all-encompassing analysis extends to a forward-looking market forecast until 2032, complemented by a perceptive historical overview. Immerse yourself in the profound insights offered by this industry analysis through a complimentary PDF download of the sample report.
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