Global Extracorporeal Membrane Oxygenation Machine Market size to touch US$ 280 Mn by 2025 at a CAGR of 5%
Noida, Uttar Pradesh, India, March 18 2021 (Wiredrelease) Report Ocean Pvt Ltd –:The rising cardiopulmonary disease incidence and respiratory failure are critical drivers of the extracorporeal membrane oxygenation machine market. According to the Centers for Disease Control and Prevention (CDC), it is estimated that an individual dies every 37 seconds from cardiovascular disease in the US. Furthermore, Chronic Obstructive Pulmonary Disease (COPD) was among the leading causes of death in the US in 2018. The increasing number of hospitals offering extracorporeal membrane oxygenation services and the rising number of awareness programs boost the market growth. According to the Federal (AHRQ) Agency of Health Research and Quality, there were 6890 extracorporeal membrane oxygenation procedures performed in the US in 2018. After that, the adoption of extracorporeal membrane oxygenation machines in hospitals has been increased significantly. Following these promising developments, the Global Extracorporeal Membrane Oxygenation Machine Market is estimated to see healthy growth, pegged at a CAGR of around 5% throughout the forecast period 2020-2025.
Increasing prevalence of cardiovascular and respiratory diseases
Cardiovascular diseases are one of the prominent causes of death globally, accounting for about 9.4 million deaths every year. According to the World Health Organization (WHO), in 2012, 17.5 million CVD-related deaths (31%) were reported globally; this number is expected to grow to more than 23.6 million by 2030.
Hypertension is a significant factor contributing to the rising prevalence of cardiovascular diseases and strokes, which are the leading causes of morbidity and mortality globally. In 2013, globally, it was estimated that about 1 billion people suffered from hypertension—a global prevalence of 40%. During the same year, the majority of hypertension among adults in Africa was 46% (highest worldwide), while in the Americas, the figure was 35% (the lowest) [Source: World Health Organization (WHO)].
Similarly, according to WHO, chronic obstructive pulmonary disease (COPD) caused about 3 million deaths (5%) of the total deaths in 2015. Tobacco smoking is considered a significant factor contributing to the rising prevalence of COPD and air pollution, and asthma. COPD is expected to increase in the coming years due to increasing tobacco consumption. Such factors will increase the prevalence of cardiovascular and respiratory diseases, significantly enhancing the extracorporeal membrane oxygenation machine’s demand in the coming years.
Rendering to the Extracorporeal Life Support Organization (ELSO), the number of hospitals offering extracorporeal membrane oxygenation services reached 264 in 2019, up from 108 in 2008. extracorporeal membrane oxygenation machines are being used in the treatment of COVID-19 severe patients. However, other applications of these machines, including heart procedures, showed a sharp decline in 2020. Increasing awareness about extracorporeal membrane oxygenation procedures and technological development is further propelling the growth of the market. Many government organizations are aimed to create awareness about extracorporeal membrane oxygenation procedures. Initiatives such as the Global Initiative for Chronic Obstructive Lung Disease (GOLD) aim to create awareness about COPD and its treatment, including the usage of extracorporeal membrane oxygenation machines.
Furthermore, the increasing adoption rate of extracorporeal membrane oxygenation machines is catalyzing technological advancement in these systems. The latest improvements include oxygenators, hollow pumps, and heparin-coated cannula used for various applications in surgeries. Besides, recently developed extracorporeal membrane oxygenation machines are smaller in size, thus increasing their portability and applications. Portable adaptors and compact extracorporeal membrane oxygenation machine circuits have also been designed, which help in critically ill patients’ transportation.
Segmentation Overview of the Global Extracorporeal Membrane Oxygenation Machine Market
The extracorporeal membrane oxygenation machine market has been segmented into Component, Modality, and Patient Type. These major market segments are further categorized into various sub-segments to study the market in detail.
By Component Outlook (Pumps, Oxygenator, Controllers, Cannula, Accessories)
By Modality Outlook (Veno-Arterial, Veno-Venous, Arterio-Venous)
By Patient Type Outlook (Neonates, Pediatric, Adult)
Key Players Insights
In 2019, the key players of the extracorporeal membrane oxygenation machine market were Getinge Group, Medtronic plc, and LivaNova PLC; these companies contributed ~68.8% of the global market share. Moreover, XENIOS AG, Terumo Corporation, MicroPort Scientific Corporation, NIPRO Corporation, OriGen Biomedical, Inc., ALung Technologies, Inc., and EUROSETS S.r.l., among others, are the others main extracorporeal membrane oxygenation machine companies included during the research study.
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