(PharmaNewsWire.Com, November 20, 2021 ) According to research report ECMO Machine Market is expected to reach USD 305.3 Million by 2021 from USD 247.2 Million in 2016, at a CAGR of 4.3%.
A number of factors such as the growing cardiovascular and respiratory diseases, rising adoption of ECMO as a bridge to heart & lung transplantation, growing number of ECMO centers, conferences and training programs to increase awareness, and technological advancements are the significant factors driving the growth of this market. In addition, the growing aging population and the number of people suffering from cardiopulmonary diseases in populous countries such as India and China are factors that are expected to offer significant growth opportunities for ECMO systems.
Premium Insights > Extracorporeal Membrane Oxygenation (ECMO) Machine: Market Overview > Geographic Analysis: ECMO Machine Market, By Modality (2016) > ECMO Machine Market, By Application, 2016 vs 2021 > Geographic Snapshot of the ECMO Machine Market
Based on application, the global Extracorporeal Membrane Oxygenation Machine Market is segmented into Respiratory, Cardiac, and Extracorporeal Cardiopulmonary Resuscitation (ECPR). The respiratory segment is estimated to account for the largest share of the market in 2016. The large share of this segment can be attributed to factors such as rising incidence of respiratory failure, lung cancer, and lung transplants, and increasing adoption of ECMO.
Based on the modality, the global market is segmented into venoarterial (VA), venovenous (VV), and arteriovenous (AV). The venovenous (VV) segment is estimated to account for the largest share of the global market in 2016, and venoarterial (VA) segment is projected to grow at the highest CAGR in the forecast period.
North America is estimated to account for the largest share of the global market, followed by Europe. The favorable reimbursement scenario, rising incidence of lung cancer, and the presence of a large number of ECMO centers in the U.S. is expected to boost the market for ECMO systems in North America.
A majority of the leading players in the market are pursuing the strategies of approvals, product launches, agreements & partnerships, expansions, and other strategies (rebranding, acquisition, website launch, product development, and market deployment).
The market is expected to witness the highest growth in the Asia-Pacific region, with emphasis on China, Japan, India, and the Rest of Asia-Pacific in the forecast period. Factors such as favorable reimbursement scenario in Japan, rising cardiovascular diseases in China, growing application and adoption of extracorporeal membrane oxygenation machine in India, and rising cardiopulmonary disorders in Australia are driving the growth of the market in this region.
In 2015, the key players of the extracorporeal membrane oxygenation machine market were Getinge Group (Sweden), Medtronic plc (Ireland), and LivaNova PLC (U.K.). These companies together contributed ~68.8% of the global market in 2015. The other players of the market are XENIOS AG (Germany), Terumo Corporation (Japan), MicroPort Scientific Corporation (China), NIPRO Corporation (Japan), OriGen Biomedical, Inc. (U.S.), ALung Technologies, Inc. (Germany), and EUROSETS S.r.l. (Italy).
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