The global extracorporeal membrane oxygenation machine market is poised for substantial growth, with a projected steady Compound Annual Growth Rate (CAGR) of 5% from 2022 to 2032. According to recent market analysis, the market size reached US$ 531 million in 2021 and is anticipated to soar to a remarkable US$ 908 billion by the end of 2032.
The burgeoning demand for ECMO machines can be attributed to the escalating prevalence of chronic diseases and the rapid expansion of organ transplantation procedures worldwide. As the healthcare landscape evolves, ECMO technology plays a crucial role in supporting patients with severe respiratory or cardiac failure, driving the market’s upward trajectory.
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The market for ECMO machines has shown tremendous growth in recent years and is anticipated to keep growing quickly. The frequency of respiratory and cardiac disorders, the ageing of the population, and the increased need for sophisticated life-support systems are all factors that are fueling this expansion. Additionally, it is anticipated that ongoing research and development activities in ECMO technology would further improve its capabilities and stimulate market growth.
Key Takeaways:
- By application, high demand for early diagnosis and diagnostic imaging, and technological advancements in the extracorporeal membrane oxygenation machine market are expected to propel the respiratory segment to the top.
- The arterio-venous segment is likely to hold the majority of the market based on modality owing to the benefits associated with this technology segment, such as effective dynamic range, thereby boosting the ECMO systems market growth.
- Based on patient type, the adult segment is projected to lead the market as the global burden of cardiac and respiratory diseases in adults is rising due to increased consumption of alcohol, tobacco, smoking, and a sedentary lifestyle.
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Because of the presence of major players and the rising number of product launches, government support for high-quality healthcare, which is also seen as one of the key trends in the ECMO systems market, and the rising prevalence of diseases in the United States and Canada, such as chronic obstructive pulmonary disease, which increases hospital admission and is favoured by reimbursement policies, the North American market is anticipated to lead the ECMO systems market. an FMI analyst claims.
Competitive Landscape:
- Medtronic plc (USA),
- Fresenius Medical Care A.G. & Co. KGAA (Germany),
- Getinge Group (Sweden),
- Microport (China),
- Origin Biomedical (USA),
- Terumo Cardiovascular Systems Corporation,
- Livanova plc (United Kingdom),
- Nipro Corporation (Japan),
- Euro sets S.R.L. (Italy),
- Cytosorbents Corporation (Australia),
- Abiomed
Major global players produce the majority of ECMO support systems. Market leaders have established their position by investing more in research and having a better distribution system.
To stay competitive in the market, extracorporeal membrane oxygenation machines manufacturers are actively involved in product launches and technological innovation.
- ALung Technologies, Inc. has begun commercialization of its ground-breaking next-generation artificial lung. The device is based on University of Pittsburgh intellectual property licensed to ALung Technologies, Inc.
- Medtronic has released its artificial lung therapy for the treatment of COVID-19. An artificial pump that pumps blood from a person’s body to an oxygenator is called ECMO, and it also has an FDA-approved device for ECMO procedures lasting up to 6 hours.
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Key Segments:
By Product:
- ECMO Machines
- Portable Devices
- Static Devices
- Software
By Service Type:
- Application
- Middleware
- Infrastructure
By Component:
- Pumps
- Oxygenators
- Controllers
- Cannul
- Assessories
By Modality:
- Veno-Venous
- Veno-Arterials
- Arterio-Venous
By Patient Type:
- Neonates
- Pediatrics
- Adults
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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