The global extracorporeal membrane oxygenation machine market size is anticipated to reach USD 377.8 million by 2026 registering a CAGR of 4.4%, according to a new report by Grand View Research, Inc. Growing cases of respiratory disorders, such as cardiopulmonary disease and Chronic Obstructive Pulmonary Disease (COPD), and respiratory failure are projected to be the key factors driving the demand for ECMO machines. For instance, according to the Centers for Disease Control and Prevention, in U.S., nearly 8.6 million adults were diagnosed with chronic bronchitis in 2017.
Moreover, wide usage of ECMO machines in hospitals, as a result of increased awareness about the advantages of using the equipment, is anticipated to boost the demand further during the forecast period. Technological advancements also play a vital role in fueling the ECMO market growth. For instance, Medtronic Plc introduced new Century heart lung machine. The machine has advanced features, such as compact and sturdy design. It uses an arterial pump, data management system, and cardioplegia delivery system to provide cardiopulmonary functional support to patients.
To request a sample copy or view summary of this report, click the link below:
Further key findings from the study suggest:
Veno-arterial modality led the ECMO market in 2018 and is anticipated to witness the highest CAGR of 4.9% from 2019 to 2025 due to its rising usage in the treatment of cardiovascular collapse
The respiratory application segmented led the market in 2018 and accounted for over 44% of the global share. This growth was attributed to the rising cases of respiratory diseases
North America was the dominant regional market and held the major share of the overall revenue in 2018 owing to well-developed infrastructure and a suitable reimbursement framework
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period.
Economic developments, improving healthcare system, and supportive government initiatives are anticipated to drive the market in Asia Pacific
Prominent companies in the market focus on M&A and collaborations for the development of technologically advanced products and to gain a competitive advantage in the industry
For instance, Medtronic Plc collaborated with Salyer Biomedical, LLC for the development of a new product called Century heart lung machine
Key companies include MAQUET Holding B.V. & Co. KG, Microport Scientific Corp., Medos Medizintechnik AG, Terumo Cardiovascular Systems Corp., Nipro Medical Corp., and Medtronic Plc
Grand View Research has segmented the global extracorporeal membrane oxygenation machine market on the basis of component, modality, application, and region:
ECMO Machine Component Outlook (Revenue, USD Million, 2015 - 2026)
ECMO Machine Modality Outlook (Revenue, USD Million, 2015 - 2026)
ECMO Machine Application Outlook (Revenue, USD Million, 2015 - 2026)
Extracorporeal Cardiopulmonary Resuscitation (ECPR)
ECMO Machine Regional Outlook (Revenue, USD Million, 2015 - 2026)
Middle East and Africa (MEA)
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."