The global extracorporeal membrane oxygenation machine market was valued at USD 267.60 million in 2018 and is likely to grow at a 4.8% CAGR between 2019- 2025, as per the recent report by Market Research Future (MRFR). Extracorporeal membrane oxygenation (ECMO) machine or the life support machine is used to treat various lung and heart disease. Its function is to offer the body with sufficient oxygen when the lung and heart do not function properly. The extracorporeal membrane oxygenation machine is used to treat lung cancer and other chronic disorders.
Various factors are adding to the extracorporeal membrane oxygenation machine market growth. According to the new MRFR report, such factors include increasing cases of lung cancer & other chronic diseases, rising geriatric population, growing prevalence of cardiovascular diseases, increasing use of ECMO, technological advances, and increasing awareness programs.
On the contrary, increasing side effects post treatment, technical failures, scarcity of skilled professionals, and high surgery costs are factors that may limit the extracorporeal membrane oxygenation machine market growth over the forecast period.
Key Players
Notable players profiled in the global extracorporeal membrane oxygenation machine market report include Terumo Cardiovascular Systems Corp, Medos Medizintechnik AG, MAQUET Holding B.V. & Co. KG, ALung Technologies, Inc., Nipro Corporation, Microport Scientific Corporation, Fresenius Medical Care AG & Co. KGaA, Terumo Corporation, Siemens AG, Agilent Technologies, Abbott, Livanova PLC, Medtronic, and Getinge Group.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global extracorporeal membrane oxygenation machine market report based on application, modality, and component.
- By component, the global extracorporeal membrane oxygenation machine market is segmented into cannula, controllers, oxygenators, pumps, and accessories. Of these, the oxygenators segment will lead the market over the forecast period. Increasing use of extracorporeal membrane oxygenation machine for cardiac treatments and rising cases of lung diseases are adding to the segment growth. This will be followed by the pumps segment that is predicted to grow at a fast pace as it is widely used to treat asthma.
- By modality, the global extracorporeal membrane oxygenation machine market is segmented into arterio-venous (AV), veno-venous (VV), and veno-arterial (VA). Of these, the veno-arterial segment will dominate the market over the forecast period for its increasing use to treat cardiovascular collapse. This will be followed by the veno-venous segment that is predicted to grow at a fast pace for its wide use in cardiogenic shock.
- By application, the global extracorporeal membrane oxygenation machine market is segmented into extracorporeal cardiopulmonary resuscitation (ECPR), cardiac, and respiratory. Of these, the respiratory segment will have a major share over the forecast period for its vital role in supporting pulmonary function. This will be followed by the ECPR segment that is predicted to grow at a fast pace during the forecast period. The growing prevalence of cardiac illness across the globe is adding to the market growth.
Regional Analysis
Based on the region, the global extracorporeal membrane oxygenation machine market report covers the growth opportunitues and recent trends across the Americas, Europe, the Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas will lead the market over the forecast period. The development of new medical devices, rising investment in R&D, favorable reimbursement scenario, and the rising prevalence of lung cancer are adding to the growth of the market in the region. The US & Canada are the major contributors in the region for increasing cases of cancer in the region and high COPD cases.
The extracorporeal membrane oxygenation machine market in Europe is predicted to have the second-largest share in the market over the forecast period. The involvement of key companies, the rise in chronic diseases, and the presence of a well-established healthcare system are adding to the growth of the market in the region. Rising cases of lung cancer are also boosting the market growth.
The extracorporeal membrane oxygenation machine market in the APAC region is predicted to grow at a fast pace over the forecast period. Growing cases of lung cancer are adding to the growth of the market in the region. China is a major contributor in the region, with a good number of people being diagnosed with lung cancer each year and is a key cause of death.
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