Extracorporeal Membrane Oxygenation (ECMO) Market Size And Growth Prospects Till 2024

Extracorporeal Membrane Oxygenation (ECMO) Market Size And Growth Prospects Till 2024 “The global Extracorporeal Membrane Oxygenation (ECMO) market size was valued at USD 246.5 million in 2016 and is expected to grow at CAGR of 4.3% over the forecast period.�

The global Extracorporeal Membrane Oxygenation (ECMO) Market Size was valued at USD 246.5 million in 2016 and is expected to grow at CAGR of 4.3% over the forecast period. The major factors boosting growth are the rising incidences of Chronic Obstructive Pulmonary Disorder (COPD), and surging prevalence of cardiopulmonary diseases and respiratory failures.

According to data recorded by the American Lung Association (ALA), in 2013, COPD was recorded to be the third largest cause of death across the U.S. In addition, over 24.0 million individuals are estimated to remain undiagnosed in the U.S. and 11.0 million diagnosed for COPD. Also, the increasing adoption of unhealthy lifestyles, such as rise in the total tobacco consumption level among both, females and males and further development of lifestyle disorders are augmenting the incidence rate of COPD. ECMO machines are gaining popularity in the hospital and healthcare systems due to the rising trend of its application during cases of respiratory disorders.

The ECMO machines are used in cases of cardiac failure to facilitate auxiliary oxygen support system. These machines are frequently used in patients suffering from respiratory conditions and also in neonates and pediatric patients. The estimated growth of these machines can be attributed to the critical nature of the target population consisting of neonates and pediatric patients.

Modality Insights The segmentation of the key modalities is done on the basis of the different setups that are provided by the ECMO circuit such as arterio-venous, veno-arterial and veno-venous.

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They are used to provide hemodynamic support and to facilitate gaseous exchange in patients with cardiac or respiratory failure.

Both gas exchange support and hemodynamic support is provided by the veno-arterial ECMO system. It majorly works by passing the blood flow from the patients’ heart and lungs to the ECMO circuit. The venovenous ECMO system on the other hand facilitates sole gas exchange support in which the blood is made to return to the heart prior to pulmonary circulation. According to the U.S. National Institute of Health (NIH), combination of veno-venous and veno-arterial is used in specific cases such as cardiogenic shock.

Browse Full Research Report @ https://www.millioninsights.com/industry-reports/extracorporeal-membrane-oxygenation-ecmomarket Applications Insights As per applications, the market is segmented into Extracorporeal Cardiopulmonary Resuscitation (ECPR), respiratory and cardiac. The segments are further segmented on the basis of who is using the set up into adult application, neonate and pediatric. The segment dominating the market in 2015 with about 40.0% of the industry share is respiratory based ECMO. The increasing demand for the ECMO systems is majorly attributed to rising number of patients with chronic respiratory conditions like COPD, emphysema and chronic bronchitis combined with a trend of growing awareness about health disorders. As per the U.S. National Center for Health Statistics, more than 8.7 million individuals suffered from chronic bronchitis and 3.4 million individuals suffered from emphysema in the year 2014.

Regional Insights The major regions in this market are North America, Europe, Asia Pacific, Latin America and MEA. North America has grown considerably in this segment majorly attributed to the well developed primary, secondary and tertiary care hospitals combined with the reimbursement network, increasing awareness about the ECMO system facilitating their rapid adoption in the hospitals and favorable government funding.

Refinements in the technology presently in use was made by Terumo Cardiovascular Systems Corporation during the production of CAPIOX FX Oxygenator. This system is expected tohelp in increasing the blood rate and offer complete control over the entire process.

Competitive Market Share Insights

Some key players operating in the ECMO market include MAQUET Holding B. V. & Co. KG, Microport Scientific Corporation, Medos Medizintechnik AG, Sorin Group, Medtronic, Plc., Terumo Cardiovascular Systems Corporation, and Nipro Medical Corporation. The major strategic initiatives adopted by the companies in this vertical are technological advancements in the existing portfolio and new product development.

For example, Medtronic Plc designed Minimax Plus Oxygen System for patients from wide ranging age groups such as from neonates to children, with features such as venous air director and low arterial port, which are integrated in the system to increase the safety levels and performance.

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