The global market for extracorporeal membrane oxygenation machine
market houses a large number of market players who are trying their
fortunes in the market. The competitive landscape of the market
depicts a moderately fragmented picture as a number of small and
medium-sized players are making their way into the market. It is
expected that the leading market players would counter the inflow of
new entrants with innovative business strategies including the
manufacture of better products. There are moderate barriers to the
entry of new players in the market but a great amount of investment
and a robust skill set is a prerequisite for the sustenance of these
market players.
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A number of new product launches have been made over the past and the
market players are expected to continue with this strategy. Since new
and innovative technologies are swiftly adopted by the consumers, the
market players are anticipated to reap in commendable profits through
advanced product lines. The leading market players are expected to
strive for a greater market share to outdo their closet competitors.
In order to accomplish this, these key players are expected to
acquire smaller or defunct players. Some of the key players in the
global extracorporeal membrane oxygenation machine market are Getinge
AB, LivaNova PLC, Medtronic Plc., and MicroPort Scientific
Corporation.
The global market for extracorporeal membrane oxygenation is expected
to grow at a steady CAGR of 5.40% over the period between 2017 and
2025. Furthermore, the market had a net worth of US$307.00 mn in 2016
and is expected to reach a value of US$487.40 mn by 2025-end. In
terms of geography, the global market was led by North America over
the past years, and the regional market is anticipated to continue on
its streak of growth due to better medical facilities.
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Utility of ECMO Machines to Accelerate Market Growth
The utility of extracorporeal membrane oxygenation (ECMO) machines
for people suffering from respiratory or cardiovascular disorders is
immense, which has driven demand within the global market. In cases
when the lungs are unable to exhale carbon dioxide or the heart fails
to pump blood across the body, the ECMO machines can make up for the
disorder. Furthermore, the machine is also used for infants who
cannot catch their breath or suffer other problems such as pulmonary
hypertension. This has also expanded the global market for
extracorporeal membrane oxygenation machines and has given an impetus
to the growth of the market players.
Growing Awareness about Respiratory Disorders to Propel Demand
The rising awareness levels of the masses about respiratory and
cardiovascular disorders across the emerging economies have brought
ECMO machines to the fore. Furthermore, the market has witnessed
tremendous growth in the western nations where the governments give
integral value to healthcare. Furthermore, the governments in
developing economies have allotted high budgets for the development
of the healthcare industry. ECMO machines are also used in Intensive
Care Units (ICU) for emergency situations, which in turn propels
demand within the global market for extracorporeal membrane
oxygenation machine. It is certain that the market has been reaping
substantial benefits from the efforts of governments, healthcare
bodies, and medical experts.
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