Pune, India, April 03, 2023 (GLOBE NEWSWIRE) -- The global Extracorporeal Membrane Oxygenation (ECMO) machine market size stood at USD 495.6 million in 2022. The market is slated to grow from USD 513.3 million in 2023 to USD 681.8 million by 2030, exhibiting a CAGR of 4.1% over the estimated period. The growth is being impelled by the surging demand for long-term circulatory support in cardiac and chronic respiratory disorders.
This information is provided by Fortune Business Insights™ in its research report, titled “Extracorporeal Membrane Oxygenation (ECMO) Machine Market, 2023-2030”.
Key Industry Development:
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Report Scope
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 4.1% |
| 2030 Value Projection | USD 681.8 Million |
| Base Year | 2022 |
| Market Size in 2023 | USD 513.3 Million |
| Historical Data | 2019 to 2021 |
| No. of Pages | 125 |
Key Takeaways:
- Growing need for long-term circulatory support in chronic respiratory and cardiac disorders is the major factor responsible for market growth.
- Advancements of new products are expected to drive market growth in the coming years.
- North America market was valued at USD 243.5 million in 2022.
- Increasing incidence and prevalence of respiratory conditions among all age groups, are anticipated to contribute to market growth.
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Drivers and Restraints:
Market Growth Favored on Account of Increasing Burden of Respiratory and Cardiovascular Diseases
One of the vital factors propelling the Extracorporeal Membrane Oxygenation (ECMO) machine market growth is the growing prevalence of respiratory and cardiovascular diseases. Some of the prevalent cardiovascular diseases include cerebrovascular disease, rheumatic and congenital heart diseases, coronary heart disease, and others.
However, the market expansion is likely to be hindered due to the high cost of various ECMO procedures. These include machine costs, operator cost, and consumable costs.
Segments:
VA (Veno-Arterial) ECMO Segment Share to Surge Driven by Escalating Product Adoption
On the basis of type, the market is segmented into VV (Veno-Venous) ECMO and VA (Veno-Arterial) ECMO. The VA (Veno-Arterial) ECMO segment is poised to register considerable traction throughout the estimated period. The surge can be attributed to a range of factors, including the rising prevalence of cardiac disorders and favorable reimbursement policies.
Adult Segment to Record Notable Surge Owing to High Disease Prevalence
Based on application, the market is fragmented into pediatric, adult, and neonatal. Of these, the adult segment is estimated to record appreciable expansion over the study period. The rise is on account of an increasing number of lung transplants in this age group.
On the basis of geography, the market is categorized into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.
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Report Coverage:
The report provides a comprehensive analysis of the key factors propelling business expansion over the forecast period. It further gives an account of the major trends impelling the industry landscape throughout the estimated period. Other aspects of the report comprise the key initiatives undertaken by leading market participants to strengthen industry footing.
Regional Insights:
North America to Gain Prominence Driven by Growing Number of Surgical Procedures
The North America Extracorporeal Membrane Oxygenation (ECMO) machine market share is set to register considerable expansion over the anticipated period. The surge can be attributed to the escalating prevalence of surgical procedures in the region.
The Europe market is poised to record substantial growth throughout the forecast period. This can be credited to favorable reimbursement policies and the growing demand for healthcare devices.
Competitive Landscape:
Leading Industry Players Enter into Collaborations to Expand Product Reach
Major Extracorporeal Membrane Oxygenation (ECMO) machine participants are focused on the adoption of a range of initiatives for the consolidation of their industry position. These include collaborations, partnership agreements, and mergers. Additional steps comprise an escalation in research activities for the development and rollout of new products.
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List of Key Players Mentioned in the Report:
- Getinge AB (Sweden)
- LivaNova PLC (U.K.)
- Medtronic (Ireland)
- Terumo Corporation (Japan)
- Xenios AG (Fresenius Medical Care AG & Co. KGaA) (Germany)
- EUROSETS (Italy)
- ABIOMED (U.S.)
- NIPRO (Japan)
- Spectrum Medical (U.K.)
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Number of Heart and Lung Transplantations, By Key Countries, 2022
- New Product Launches
- Key Industry Developments – Key Mergers, Acquisitions and Partnerships
- Impact of COVID-19 on the Extracorporeal Membrane Oxygenation (ECMO) Machine Market
- Global Extracorporeal Membrane Oxygenation (ECMO) Machine Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- VA (Veno-Arterial) ECMO Machine
- VV (Veno-Venous) ECMO Machine
- Market Analysis, Insights and Forecast – By Application
- Adult
- Pediatric
- Neonatal
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Type
- North America Extracorporeal Membrane Oxygenation (ECMO) Machine Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- VA (Veno-Arterial) ECMO Machine
- VV (Veno-Venous) ECMO Machine
- Market Analysis, Insights and Forecast – By Application
- Adult
- Pediatric
- Neonatal
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Market Analysis, Insights and Forecast – By Type
- Europe Extracorporeal Membrane Oxygenation (ECMO) Machine Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- VA (Veno-Arterial) ECMO Machine
- VV (Veno-Venous) ECMO Machine
- Market Analysis, Insights and Forecast – By Application
- Adult
- Pediatric
- Neonatal
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- U.K.
- Germany
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
- Market Analysis, Insights and Forecast – By Type
TOC Continued………..
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