Prominent Players: Eurosets, Maquet Getinge Group, LivaNova
Global Extracorporeal Membrane Oxygenation Market is set to exceed USD 357 million by 2024; according to a new research study published by Global Market Insights, Inc. Recent technological advancements in extracorporeal membrane oxygenation (ECMO) in North America, intent to use for paediatric and neonatal cardiac and/or respiratory failure will boost the devices sales in near future.
Rise in number of total R&D activities in the past few years coupled with significant technological advances have resulted in enhanced ECMO survival rate. These new technologies and their impact on increasing utilization of ECMO in diverse patient population will drive the industry growth over the projection years.
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U.S. dominated North America ECMO market with a value of USD 94.9 million in 2017. According to American Lung Association, Chronic Obstructive Pulmonary Disease (COPD) is the third leading cause of death in the Unites states, with more than 11 million people diagnosed with COPD.
Ongoing technological advancements leading to production of superior ECMO devices and increase in number of people suffering from cardiac and respiratory disorders will lead to U.S. retaining higher market share over the forecast timeframe.
Germany dominated the Europe extracorporeal membrane oxygenation market with a total market value of USD 17.6 million in 2017. High number of ECMO procedures in the country is one of the prominent demand driving factor; in fact, number of ECMO procedures rose to around 6,000 in the year 2014 from previous year, growing almost three times in the last five years.
In high income countries such as Germany, rapid rise in use of ECMO in the last few years to provide both cardiac and respiratory support will foster high growth opportunities.
ECMO application in respiratory diseases held the majority of market share, accounting for around USD 168.8 million in 2017. According to World Health Organization, more than 3 million people die each year from chronic obstructive pulmonary disease (COPD), accounting for over 6% of the total global deaths.
ECMO has exceptionally progressed in the last few years and has become an invaluable tool in the care of patients with respiratory disorders. Increase in use of ECMO in treatment of children and adults with severe respiratory diseases will propel the Extracorporeal Membrane Oxygenation Market growth in upcoming years.
Application of ECMO cardiac disease segment will witness substantial growth at a CAGR of 4.8% in the forecast timeframe. According to recent survey, rise in use of ECMO essential for mechanical circulation support in the patients suffering from severe cardiac problems.
Increase in use of ECMO in treatment of cardiac diseases such as congenital heart disease, cardiomyopathy, myocarditis, and other cardiac disorders coupled with coupled with technological advances in treatment of cardiac diseases will have tremendous impact on the extracorporeal membrane oxygenation market growth.
Use of ECMO in infant patient population generated majority of revenue in 2017, accounting for over USD 122.0 million. Around 1% of newly born babies in U.S.
suffer from most common type of heart defect being ventricular septal defect (VSD). According to Clinical Guidelines Committee, ECMO is a proven treatment for severe cardiac and respiratory failure in neonates that improves long term survival in the infants up to 80%-90%.
Thus, increasing use of ECMO in infant will drive Extracorporeal Membrane Oxygenation Market growth in upcoming future.
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Some of the leading players include Getinge, Medtronic, Terumo, Abbott, LivaNova, and Alung Technologies. These companies have focused on strategic decisions in order to develop technological advanced ECMO devices.
Also, Merger and acquisitions have lead the companies to increase their operational capabilities and survive in the market by providing better products to the customers.
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definition and forecast parameters
1.2. Data sources
Chapter 2. Executive Summary
2.1. Extracorporeal Membrane Oxygenation industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Therapeutic trends
2.1.5. Regional trends
Chapter 3. Extracorporeal Membrane Oxygenation Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
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3.3.1. Growth drivers
184.108.40.206. Increase in cases of cardiopulmonary diseases and respiratory failure in Asia Pacific
220.127.116.11. Technological advancements in ECMO device in North America
18.104.22.168. Rising patient awareness about benefits delivered by extracorporeal membrane oxygenation device in Latin America
22.214.171.124. Rising government initiatives and programs in Europe
3.3.2. Industry pitfalls & challenges
126.96.36.199. High costs of equipment
188.8.131.52. Dearth of skilled professionals
184.108.40.206. Risks related to ECMO device
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