Extracorporeal Membrane Oxygenation Machine Market Size Is Projected to Reach $307.5 million by 2028 | Polaris Market Research

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15 Mar, 2021, 12:30 GMT

NEW YORK, March 15, 2021 /PRNewswire/ -- The extracorporeal membrane oxygenation machine market is estimated to cross USD 307.5 million by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 5.3% from 2021 – 2028. A rise in the number of hospitals providing ECMO services and an increase in the number of awareness campaigns to boost its adoption are some of the key factors fueling the market growth. The growth of the market is also attributed to the increasing prevalence of cardiovascular and respiratory diseases along with the increasing adoption rate of ECMO for lung transplantation. In addition to this, the growing geriatric population, improving healthcare infrastructure, and rise in the rate of people struggling from diseases, especially in populous countries such as India and China are projected to offer lucrative growth opportunities for the market players.

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Key Highlights of Extracorporeal Membrane Oxygenation Machine Market

The oxygenator segment emerged as the dominating segment with its largest share in the market and is anticipated to witness substantial growth during the forecast period. The segment's growth is attributed to its acute exchange rate and higher cost which results in a high revenue generation.
The veno-arterial segment contributed the largest revenue share and is estimated to witness a healthcare growth rate over the forecast period. Its increased usage for treating patient medical issues such as cardiac arrest is one of the major reasons behind the growth of this segment.
The respiratory accounted for the majority of share in the application category segment. The major drivers for the segment's growth include the growing prevalence of respiratory disorders and increasing awareness about the adoption of ECMO procedures.
The increasing incidence of health issues such as swine flu has resulted in increased use of ECMO machines in hospitals and clinics across the globe. Additionally, the better efficacy offered by these machines over other conventional options is positively impacting the ECMO machine market.

For instance, in February 2020, FDA has approved the heart and lung support machine, "Novalung", to treat cardiopulmonary failure. This is the first of its kind of extracorporeal membrane oxygenation machine, manufactured by Fresenius Medical Care North America, to be used as life support for patients. This extracorporeal membrane oxygenation machine pumps and oxygenates an individual's blood, thereby reducing stress on damaged airways and heart.

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Regional Developments and Key Insights:

North America led the major growth for the extracorporeal membrane oxygenation machine market, followed by Europe. Rapidly increasing incidence of lung cancer, the introduction of several well-equipped ECMO centers, and conductive reimbursement policies are some of the major favoring factors for the growth of the regional market. The market in the Asia Pacific is projected to witness exponential growth over the forecast period. Increasing adoption of technology, improving healthcare infrastructure, and rising disposable income positively impacting the regional market.

Competitive Outlook:

Market players are adopting key strategies such as acquisitions, mergers, and partnerships to take a leading position in the market. Some of the leading companies present in the market for extracorporeal membrane oxygenation machines include MAQUET Holding B.V., Medtronic plc, Nipro Medical Corporation, Sorin Group, Terumo Cardiovascular Systems, Medos Medizintechnik AG, and Microport Scientific.

Target Audience:

Supply-side: Medical Device Manufacturers and Suppliers
Demand Side: Hospital, Clinic, Medical Research Center
Regulatory Side: World Health Organization (WHO)

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Polaris Market research has segmented the extracorporeal membrane oxygenation machine market report on the basis of component, modality, patient type, application, and region:

Extracorporeal Membrane Oxygenation Machine, Component Outlook (Revenue – USD Million, 2016 – 2028)

Pumps
Oxygenator
Controllers
Cannula
Accessories

Extracorporeal Membrane Oxygenation Machine, Modality Outlook (Revenue – USD Million, 2016 – 2028)

Veno-Arterial
Veno-Venous
Arterio-Venous

Extracorporeal Membrane Oxygenation Machine, Patient Type Outlook (Revenue – USD Million, 2016 – 2028)

Neonates
Pediatric
Adult

Extracorporeal Membrane Oxygenation Machine, Application Outlook (Revenue – USD Million, 2016 – 2028)

Respiratory
Cardiac
ECPR

Extracorporeal Membrane Oxygenation Machine, Regional Outlook (Revenue – USD Million, 2016 – 2028)

North America

U.S.
Canada

Europe

France
Germany
UK
Italy
Spain
Netherlands
Austria

Asia Pacific

China
India
Japan
Malaysia
South Korea
Indonesia

Central & South America

Mexico
Brazil
Argentina

Middle East & Africa

UAE
Saudi Arabia
Israel
South Africa

List of Key Players of Extracorporeal Membrane Oxygenation Machine Industry

Medtronic plc
Sorin Group
Terumo Cardiovascular Systems Corporation
MAQUET Holding B.V. & Co. KG
Medos Medizintechnik AG
Nipro Medical Corporation
Microport Scientific Corporation

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