Extracorporeal Membrane Oxygenation Machine Market Size, Share & Trends Report

Extracorporeal Membrane Oxygenation Machine Market Size, Share & Trends Analysis Report By Component (Pumps, Oxygenator, Controllers), By Modality (VA, VV, AV), By Patient Type, By Application, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-1-68038-001-9
  • Number of Pages: 130
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2023
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the extracorporeal membrane oxygenation machine market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for extracorporeal membrane oxygenation machine market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of extracorporeal membrane oxygenation machine market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Extracorporeal Membrane Oxygenation Machine Market Categorization:

The extracorporeal membrane oxygenation machine market was categorized into five segments, namely component (Pumps, Oxygenator, Controllers, Cannula, Accessories), modality (Veno-Arterial, Veno-Venous, Arterio-Venous), patient type (Neonates, Pediatric, Adult), application (Respiratory, Cardiac, ECPR) and region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The extracorporeal membrane oxygenation machine market was segmented into component, modality, patient type, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The extracorporeal membrane oxygenation machine market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-four countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; Sweden; Denmark ; Norway ; Japan; China; India; South Korea; Thailand; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; UAE; Kuwait; and Saudi Arabia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Extracorporeal membrane oxygenation machine market companies & financials:

The extracorporeal membrane oxygenation machine market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Maquet Holding, Maquet Holding, founded in the year 1838, is headquartered in Germany and operates as a subsidiary of Getinge AB. It is engaged in developing infrastructure and therapeutic solutions for hospitals and its product portfolio includes products for hybrid operating rooms, patient transport, catheter laboratories, hospital solutions, and critical care units. The infrastructure solutions include counterpulsation therapy devices, extracorporeal life support systems, modular room systems, anesthesia delivery systems, and other such solutions for operating rooms. In addition, the company designs and distributes solutions for critical care, anesthesia, gynecology, and biosurgery.

  • Medtronic, Medtronic applies biomedical engineering in research, design, and manufacturing and provides products for alleviating pain, restoring health, and extending life. The company serves patients, clinicians, physicians, and hospitals in over 140 countries worldwide. It offers therapeutic solutions for cardiovascular diseases, diabetes, cancer, and neurological and musculoskeletal conditions. The company operates through three segments, namely the restorative therapies group, the cardiac and vascular group, and the diabetes group. The company secures rights for more than 53,000 patents. In 2015, Medtronic acquired Covidien plc, a global healthcare products company. This acquisition has helped the company position itself as a leading company in the healthcare industry.

  • Microport Scientific Corporation, MicroPort Scientific Corporation was founded in 1998 and is headquartered in China. It functions as a subsidiary of Otsuka Medical Devices Co., Ltd. The company is involved in the manufacturing and marketing of medical devices for indications such as cardiovascular, orthopedics, electrophysiological, endovascular, neurovascular, endocrinal, diabetes management, and others. The cardiovascular segment of the company’s products includes dilation catheters, coronary stents, and delivery systems. The surgical segment of the company includes products and devices for extracorporeal circulation, which are commonly used in congenital heart disease cases.

  • Terumo Cardiovascular Systems Corporation, Terumo Cardiovascular Systems, founded in the year 1999 is headquartered in the U.S. and is a subsidiary of the Terumo Medical Corporation. It specializes in the development of products for vascular and cardiac surgery. The company operates in all 5 continents through a well-developed distribution channel. The product portfolio of the company comprises devices for autotransfusion, endoscopy, beating heart and surgical stabilization products, perfusion, sternotomy, monitoring systems, and cannulae. These are used in intra-operative monitoring, cardiopulmonary bypass, and vascular grafting.

  • Medos Medizintechnik, Headquartered in Germany, Medos Medizintechnik was founded in 1987. In 2013, the company underwent a merger with Novalung, forming its parent company Xenios. . Following the merger, the company catered to cardiovascular as well as pulmonary disorders owing to similar anatomical and technology platform requirements. Later in 2016, the company was acquired by a renal specialty hospital called Fresenius Medical Care. It is a private company that participates in the manufacturing and distribution of various medical devices, like products required for ECMOs, cardiac surgery, and ventricle assist devices (VADs). Their product portfolio comprises VAD-apex cannulae, arterial-VAD-cannulae, HILITE reservoirs, tubing sets, perfusion sets, pressure measuring sets, pre-bypass sets, hemofilters, and others. The customers of the company comprise perfusionists and cardiac surgeons mainly.

  • Nipro Medical Corporation, NIPRO Medical Corporation is a combination of businesses like medical devices, pharmaceutical packaging, and pharmaceuticals. The company manufactures products for interventional radiology, renal, cardiopulmonary, and medical surgery for human as well as veterinary needs. The company offers products such as blood-tubing sets, IV catheters, blood collection needles, hypodermic needles, ELISIO dialyzers, safety-winged infusion sets, and adapters.

  • LivaNova PLC, LivaNova PLC was formed as a result of the merging of Cyberonics which is a U.S.-based healthcare company along with Sorin Group which is an Italy-based medical devices company. It specializes in medical technologies, cardiac rhythm management, and products for cardiac surgery as well as cardiovascular diseases. LivaNova PLC develops products that treat cardiac rhythm disorders and devices used in cardiac surgery. The company has a distribution network spread across 100 countries.

  • CytoSorbents Corporation, CytoSorbents Corporation is a critical care immunotherapy company specializing in producing blood purification technology for humans as well as animals. The company develops products to control deadly inflammation in critically ill patients. Its product portfolio includes effective extracorporeal cytokine adsorber and purification technologies that assist in blood transfusions, preventing any fatal reactions. The company has a distribution network spread across 55 countries.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Extracorporeal Membrane Oxygenation Machine Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Extracorporeal Membrane Oxygenation Machine Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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