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Extracorporeal Membrane Oxygenation Machine (ECMO) Market 2021 In-depth Assessment, Key Trend, Industry Drivers, Future Roadmap by 2030 | Says Kenneth Research

In a recent published report, Kenneth Research has updated the market report for Extracorporeal Membrane Oxygenation Machine (ECMO) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.  

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Extracorporeal Membrane Oxygenation Machine (ECMO) Market products.  

The global Extracorporeal Membrane Oxygenation Machine Market is expected to register a CAGR of 4.8% during the forecast period of 2019 to 2025 with a market value of USD 267.60 million in 2018.Extracorporeal membrane oxygenation is a machine that provides cardiac and respiratory support for those patients whose heart and lungs are unable to provide an adequate supply of gas exchange to the body. It is also known as a life support machine. People who are suffering from a severe and life-threatening illness needs extracorporeal membrane oxygenation machine to carry out proper functioning of heart and lungs.

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The global extracorporeal membrane oxygenation machine market is driven by factors such as the growing prevalence of cardiovascular and respiratory diseases, rising adoption of the ECMO machine for lung transplantation, and the growing number of ECMO centers. Additionally, the rising prevalence of lung diseases coupled with increasing geriatric population is anticipated to fuel the market growth. As there is an increasing prevalence of lung and heart diseases, the demand for extracorporeal membrane oxygenation machine is also rising nowadays.

As per the survey carried out by World Health Organization in 2017, around 306 hospitals in the US have ECMO machine for treatment of heart and lung diseases that are around 9385 ECMO devices were administered in US hospitals in 2017. On the other hand, the complications associated with extracorporeal membranes oxygenation machines such as bleeding, infections, and technical failures are projected to hamper the growth of the market during the assessment period.

Segmentation

The global extracorporeal membrane oxygenation machine market has been segmented based on component, modality, application, and region.The market, based on component, has been divided into pumps, oxygenators, controllers, cannula,and accessories. The oxygenators segment is expected to hold a major share in the market due to the rising prevalence of lung diseases and increasing adoption of extracorporeal membrane oxygenation machine for cardiac treatments. The pumps segment is anticipated to be the fastest-growing as these are most widely used in the treatment of asthma.

The market based on modality is further segmented into veno-arterial (VA), veno-venous (VV), and arterio-venous (AV). The veno-arterial segment is expected to hold a major share in the market due to its widespread use in the treatment of cardiovascular collapse. Whereas veno-venous segment is expected to be the fastest-growing due to its increasing use in cardiogenic shock.The market based on application is further segmented into respiratory, cardiac, and extracorporeal cardiopulmonary resuscitation (ECPR). The respiratory segment is expected to hold the major share in the market due to its crucial role in supporting pulmonary function and is projected to witness lucrative growth over the forecast period whereas the extracorporeal cardiopulmonary resuscitation segment is expected to be the fastest-growing due to the rising incidence of cardiac illness worldwide.

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The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The extracorporeal membrane oxygenation machine market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European extracorporeal membrane oxygenation machine market has been sub-divided into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, UK, Italy, Spain, and the rest of Western Europe. The extracorporeal membrane oxygenation machine market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The extracorporeal membrane oxygenation machine market in the Middle East & Africa has been divided into the Middle East and Africa.

Key Players

 Getinge Group

Medtronic

Livanova PLC

Abbott

Agilent Technologies

Siemens AG

Terumo Corporation

Fresenius Medical Care AG & Co. KGaA

Microport Scientific Corporation

Nipro Corporation

ALung Technologies, Inc.

MAQUET Holding B.V. & Co. KG

Medos Medizintechnik AG

Terumo Cardiovascular Systems Corp

Others

Regional Market Summary

Source: World Health Organization (WHO)

The market in the Americas is expected to dominate the global extracorporeal membrane oxygenation machine market due to the rising incidence of lung cancer, favorable reimbursement scenario, and increasing investment in research and development of new medical devices. As there is a rising prevalence of lung cancer in the US, the demand for extracorporeal membrane oxygenation machine is also increasing in this region. As per the survey carried out by the America Lung Association in 2017, around 11 million people are diagnosed with COPD in the US every year. High cases of COPD in the US and Canada is expected to drive the market growth.

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The market in Europe showed a substantial amount of growth. This can be attributed to the presence of a well-established healthcare system, an increase in chronic diseases, and the involvement of key companies. As per the Luce Report on Lung Cancer 2016, around 312,000 people in Europe have lung cancer. As there is an increasing prevalence of lung cancer in this region, the demand for extracorporeal membrane oxygenation machine is also growing. Therefore, the market is expected to grow during the forecast period.

The market in Asia-Pacific is projected to be the fastest-growing over the forecast period owing to the rising prevalence of lung cancer in countries such as India and China. According to National Cancer Center (NCC) Report 2018, out of a total population around 35.1%, people are diagnosed with lung cancer every year in China and is one of the leading cause of deaths in this country.

The market in the Middle East & Africa is projected to account for the least share of the global extracorporeal membrane oxygenation machine market due to low disposable income in the region.Global Extracorporeal Membrane Oxygenation Machine Market, by Component

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Pumps

Oxygenators

Controllers

Cannula

Accessories

Global Extracorporeal Membrane Oxygenation Machine Market, by Modality

Veno-Arterial (VA)

Veno-Venous (VV)

Arterio-Venous (AV)

Global Extracorporeal Membrane Oxygenation Machine Market, by Application

Respiratory

Cardiac

Extracorporeal Cardiopulmonary Resuscitation (ECPR)

Global Extracorporeal Membrane Oxygenation Machine Market, by Region

Americas

North America

US

Canada

Latin America

Europe

Western Europe

Germany

France

Italy

Spain

UK

Rest of Western Europe

Eastern Europe

Asia-Pacific

Japan

China

India

Australia

South Korea

Rest of Asia-Pacific

Middle East & Africa

Middle East

Africa

Intended Audience

Research and development (R&D) companies

Medical device companies

Government research institutes

Academic institutes and universities

Venture capitalists

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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