Global Extracorporeal Membrane Oxygenation (ECMO) Devices Market will grow to US$ 812.09 Mn by 2028 at a CAGR of 13.02% over the forecast period - says Absolute Markets Insights

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Absolute Markets Insights

17 Dec, 2020, 01:00 GMT

PUNE, India, Dec. 17, 2020 /PRNewswire/ --

  • The global extracorporeal membrane oxygenation (ECMO) devices market was estimated to be US$ 308.10 million in 2019.
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Extracorporeal Membrane Oxygenation (ECMO) Devices Market will grow to US$ 812.09 Mn by 2028

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  • The need for respiratory care has grown in recent times owing to various contributing factors for lung disorders. Along with traditional disorders, cases related to newer disorders have observed to grow over the years. The severity of these disorders on the patient has been seen to be varying. Cases with higher severity have been notable for the deployment of market offerings in an attempt to help with oxygenation processes for patients. The use of the devices is observed to facilitate the reduction of stress on the lungs of the patient.
  • Demand for Extracorporeal Membrane Oxygenation (ECMO) Devices Market offerings has grown more recently owing to the application of devices provided from the market in cases of high severity due the (COVID-19). Medical facilities are advised to utilize Extracorporeal Membrane Oxygenation (ECMO) devices in assisting patients for vital lung operations for short duration in order to limit the potential for risks for the internal systems of the patient.

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  • North America was observed to be the significant Extracorporeal Membrane Oxygenation (ECMO) Devices Market share holder in the market for the recent scenario. The revenue generated from the region of Asia Pacific is expected to grow at the fastest growth rate over the forecast period primarily due to the increasing investments towards manufacturing and development of market offerings from companies situated in the region. In addition to this, growing focus towards collaborative initiatives for product development, production and other processes are expected to have a propulsive effect towards the growth of the market.
  • Some of the players operating in the Extracorporeal Membrane Oxygenation (ECMO) devices market are ALung Technologies, Inc., ORMED Medizintechnik GmbH & Co. KG, CytoSorbents Europe GmbH, EUROSETS, LivaNova PLC (CardiacAssist, Inc), MC3 Cardiopulmonary, Medtronic, NIPRO, and Terumo Cardiovascular Systems Corporation, among others.

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