The global Extracorporeal Membrane Oxygenation Market was valued at US$ 294.2 million in 2021 and it is anticipated to grow up to US$ 411.3 million by 2031, at a CAGR of 7.4% during the forecast period.
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Extracorporeal life support is another term for extracorporeal membrane oxygenation. It is a life-sustaining system that helps patients with severe respiratory failure by providing respiratory and cardiac support. Lung and heart diseases affect a large number of people in densely populated countries like China and India. This is expected to provide numerous opportunities for industry growth in these countries. According to the most recent data published by the World Health Organization in 2020, lung disease accounts for approximately 10% of all deaths in India. As a result of an increasing number of patients suffering from pulmonary disorders, advanced ECMO devices will become more widely used.
Market Drivers and Trends
The rising awareness of the ECMO devices. Increasing patient awareness of the importance of cardiopulmonary assistance for severe cardiac and respiratory conditions will hasten ECMO therapy adoption. The introduction of patient education programs about the ECMO device and its use in emerging economies has resulted in an increase in demand. For example, the Latina Preventive Heart Disease program was launched in Latin America with the goal of raising awareness about advanced therapies and instruments for CVD diseases. Such initiatives aided the growth of the ECMO industry in this region.
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Furthermore, Increase of survival rates by using ECMO. ECMO patient survival rates vary depending on the underlying condition and patient’s age. VV-ECMO is indicated for patients with potentially reversible respiratory failure. Patients with respiratory failure who receive VV-ECMO have a higher chance of survival. Because of their ability to support failing cardiovascular systems with oxygenation functions, ECMO machines are also used in cardiac applications. The above aforementioned factors can increase the market growth.
Major Players in the Global Extracorporeal Membrane Oxygenation Market
The key players studied in the global Extracorporeal Membrane Oxygenation Market are Abiomed (US), Braile Biomedica (Brazil), Fresenius Medical care AG & Co. KGaA (Germany), Getinge Group (Sweden), LivaNova (UK), Medos Medizintechnik AG (Germany), Medtronic (Ireland), Microport Scientific Corporation (China), Nipro Medical Corporation (Japan), and Terumo Cardiovascular Systems Corporation (US) among others.
The COVID-19 pandemic harmed the economy in 2020 and posed numerous challenges to clinical healthcare providers and patients worldwide. COVID-19 has also had an impact on various stages of the value chain, owing to strict lockdowns imposed by most governments. The delivery of goods and services has also been slowed as a result of newer packaging protocols and country-imposed lockdown measures. All of these factors have a negative impact on the production and supply chain of digital X-ray systems.
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COVID-19, on the other hand, has created new opportunities for ECMO machine manufacturers and healthcare providers. Chest imaging has been considered as an alternative approach for patients with suspected or probable COVID-19 in settings where laboratory testing (RT-PCR) is not available, or results are delayed or initially negative. Imaging, such as chest radiography, CT scans, and lung ultrasounds, has been considered to complement clinical evaluation and laboratory parameters in the management of COVID-19 patients. According to the WHO, chest radiography can aid in the evaluation of COVID-19 pneumonia and its complications.
Global Extracorporeal Membrane Oxygenation Market Segmentation
By Patient Type
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