Extracorporeal Membrane Oxygenation Machine Market Size Worth 394.9 Million by 2027: Grand View Research, Inc.

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11 Feb, 2020, 09:05 GMT

SAN FRANCISCO, Feb. 11, 2020 /PRNewswire/ -- The global extracorporeal membrane oxygenation machine market size is expected to reach USD 394.9 million by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 4.5% over the forecast period. The market is primarily driven by increasing incidence of cardiopulmonary and respiratory diseases and technological advancement in the field of extracorporeal membrane oxygenation (ECMO) procedures. Cardiovascular disease is one of the leading causes of death globally. According to WHO, 17.9 million people died from cardiovascular diseases in 2016. In addition, according to the Extracorporeal Life Support Organization, a total of 45,035 patients globally suffered from respiratory illnesses in 2016. Increasing awareness about ECMO procedures, coupled with various government initiatives, are further propelling the market for extracorporeal membrane oxygenation machines.

Key suggestions from the report:

By component, the oxygenators segment accounted for the leading revenue share in 2019 owing to its high cost and usage
Based on modality, veno-arterial ECMO machines held the dominant market share in 2019 and is also expected to register the fastest growth rate during the forecast period
On the basis of patient type, the adult segment is likely to exhibit a rapid pace over the course of the forecast period owing to rising incidence of cardiac and pulmonary diseases
The respiratory application segment emerged as the leading revenue contributor in the ECMO machine market in 2019 and is also expected to grow at the fastest rate
North America accounted for the largest share in 2019 owing to favorable reimbursement policies, presence of key players, and government initiatives
Leading players in the extracorporeal membrane oxygenation machines market include Nipro Medical Corporation Medtronic plc, Microport Scientific Corporation, Sorin Group, MAQUET Holding B.V. & Co. KG, Terumo Cardiovascular Systems Corporation, and Medos Medizintechnik AG. Major players are focusing on technological collaborations and product launches to stay ahead.

Read 110 page research report with ToC on "Extracorporeal Membrane Oxygenation Machine Market Size, Share & Trends Analysis Report By Component (Pumps, Oxygenators), By Modality, By Application (Respiratory, Cardiac), By Patient Type, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/extracorporeal-membrane-oxygenation-ecmo-market

Increasing survival rate of cardiac and respiratory patients undergoing ECMO machine-supported surgery is also driving the ECMO machine market. Application of extracorporeal membrane oxygenation machine in procedures has increased over the years. This machine was traditionally used in cases of circulatory or respiratory failure. However, its applications have expanded to be used as rescue therapy for post-organ transplantation and sepsis and in cases of heart failure. The use of extracorporeal membrane oxygenation machines has been rising gradually worldwide owing to its benefits such as acting as an artificial lung for patients and growing awareness about its use. Moreover, increasing healthcare expenditure by government and private agencies in order to improve healthcare facilities are fueling the market for extracorporeal membrane oxygenation machines. According to the American Heart Association, medical expenditure related to CVDs is expected to reach USD 960 billion by 2030, rising from USD 320 billion in 2011.

Grand View Research has segmented the global extracorporeal membrane oxygenation machines market based on component, modality, patient type, application, and region:

ECMO Machine Component Type (Revenue, USD Million, 2019 - 2027)

Pumps
Oxygenator
Controllers
Cannula
Accessories

ECMO Machine Modality Outlook (Revenue, USD Million, 2016 - 2027)

Veno-arterial
Veno-venous
Arterio-venous

ECMO Machine Patient Type Outlook (Revenue, USD Million, 2016 - 2027)

Neonates
Pediatric
Adult

ECMO Machine Application Outlook (Revenue, USD Million, 2016 - 2027)

Respiratory

Neonates
Pediatric
Adult

Cardiac

Neonates
Pediatric
Adult

Extracorporeal Cardiopulmonary Resuscitation (ECPR)

Neonates
Pediatric
Adult

ECMO Machine Regional Outlook (Revenue, USD Million, 2016 - 2027)

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain
Czech Republic
Russia
Poland
Turkey
Switzerland

Asia Pacific

China
India
Japan
South Korea
Australia
Vietnam
Philippines
Malaysia
Indonesia
Thailand

Latin America

Brazil
Mexico
Argentina
Colombia
Chile

Middle East & Africa

South Africa
Saudi Arabia
UAE
Oman
Kuwait

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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