February 05, 2020
According to the research report titled ‘Extracorporeal Membrane Oxygenation Market Size By Modality (Venoarterial, Veno-venous, Arteriov0enous), By Application (Cardiac, Respiratory, Extracorporeal Cardiopulmonary Resuscitation), By Patient Population (Infant, Pediatric, Adult), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, China, India, Japan, Taiwan, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa, Kuwait), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global extracorporeal membrane oxygenation (ECMO) market is expected to surpass USD 370 million by the year 2025.
According to the report, increased pervasiveness of respiratory diseases has led to increasing usage of extracorporeal membrane oxygenation procedures which in turn is driving the market growth. There has been an upsurge in the demand for high quality treatment procedures across the globe. This factor along with increasing awareness pertaining to respiratory and cardiovascular disorders are further aiding the market expansion.
ECMO technique is widely used for lung transplantation. Adding to this, escalating investments by government entities towards development of treatment methods for chronic disorders are also stimulating the industry outlook. However, scarcity of skilled medical professionals and high costs associated with extracorporeal membrane oxygenation may hinder the market growth. Also, high risks associated with ECMO such as strokes, formation of blood clots, excessive bleeding, and infections may inhibit the market growth.
As per modality, the report states that the veno-venous segment amassed a valuation of 105 million in the year 2018. The veno-venous ECMO offers minimum complications, low recirculation rates, and comprehensive respiratory support. This factor in tandem with rising prevalence of acute respiratory disorders are fueling the segmental growth.
Based on the application spectrum, respiratory disease application of ECMO was worth USD 175 million in the year 2018. Growing occurrences of respiratory failure, lung cancer, and pulmonary diseases coupled with rising consciousness regarding extracorporeal membrane oxygenation procedures are facilitating the business scenario.
In terms of patient population, the adult segment is presumed to expand with a CAGR of 4.6% during the period of 2019-2025. Factors such as increasing frequency of respiratory disorders among adults and growing elderly population are favoring the demand from adult segment.
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As per the regional analysis, the report cites that North America region will witness substantial growth over 2019-2025. Canada held 15% share of NA extracorporeal membrane oxygenation industry in 2018, and is anticipated to follow a lucrative growth track in the approaching years. Availability of skilled medical professionals and advanced healthcare facilities are driving the market growth. Meanwhile, UK extracorporeal membrane oxygenation industry was worth USD 15 million in 2018.
Terumo Corp., Spectrum Medical, Origen Biomedical, Nipro Corp., MicroPort Scientific Corp., Medtronic Inc., LivaNova Plc., Getinge Group, Eurosets Srl, Elsius Biomedical Inc., Edwards Lifesciences Corp., Braile Biomedical, Alung Technologies and Abbott Laboratories are the prominent companies operating in the overall extracorporeal membrane oxygenation industry.
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