According to the research report, the global extracorporeal membrane
machine oxygenation machine market was valued at US$307.00 mn in
2016. During the forecast period of 2017 and 2025, the global market
is expected to rise at a CAGR of 5.4% to reach a valuation of
US$487.40 mn by the end of 2025. In terms of components, the global
market is likely to be led by oxygenators during the forecast period.
As of 2016, this segment held a share of 38.4% in the global market
and is expected to continue its dominance. Geographically, North
America is expected to dominate the global market due to better
medical facilities in the region.
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Extracorporeal membrane oxygenation (ECMO) machine is used for people
whose heart cannot pump enough blood to the body, or lungs cannot
exhale carbon dioxide even with help from a mechanical ventilator, or
lungs cannot provide enough oxygen to the body even giving oxygen
mechanically.
Rising incidence of cardiovascular and respiratory diseases are
driving the growth of the global extracorporeal membrane oxygenation
machine market. Increasing need for use of extracorporeal membrane
oxygenation (ECMO) machines in newborns boosts the demand for the
extracorporeal membrane oxygenation (ECMO) machines. Rising
prevalence of persistent pulmonary hypertension of the newborn
(PPHN), respiratory distress syndrome (RDS), congenital diaphragmatic
hernia (CDH), and meconium aspiration syndrome in infants drives the
global extracorporeal membrane oxygenation machine market. Increasing
preference for the extracorporeal membrane oxygenation (ECMO) machine
boosts the market exponentially.
Growing awareness about treating complicated respiratory issues and
increasing disposable income in the emerging economies are also
expected to support the global ECMO market. The report also points
out that better healthcare facilities in developed nations,
supportive insurance schemes, and affordable healthcare are also
likely to fuel the growth of the overall market in the forthcoming
years. The growing investments by governments of developing countries
to improve the healthcare infrastructure is projected to have a
positive impact on the global ECMO market in the long run. The report
also highlights that increasing adoption of ECMOs for intensive care
in critical conditions has worked in favor of the market. The
unfortunate rise in demand for long-term oxygenation support for
patients awaiting lung transplantation has played an integral role in
augmenting the growth of the global ECMO market.
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Despite the powerful market drivers, the global extracorporeal
membrane oxygenation (ECMO) machine market is likely to come across a
few restraints. The high cost associated with the extracorporeal
membrane oxygenation (ECMO) machine a considered to be one the most
significant restraints for the global market. However, the consistent
investment in research and development of better technology is
projected to open up several lucrative opportunities for the global
market.
Transparency Market Research states that the global extracorporeal
membrane machine oxygenation machine market has a moderately
fragmented competitive landscape. Some of the key players in the
global market Medtronic Plc., Terumo Corporation, Getinge AB, Xenios
AG, MicroPort Scientific Corporation, Eurosets S.r.l., Nipro
Corporation, ALung Technologies, Inc, and LivaNova PLC. The report
states that the companies are expected to make product launches to
garner a wider consumer base. Furthermore, players are expected to
venture into newer markets through partnerships and agreements to
widen their business operations.
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