Market Definition
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 Outlook
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.
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.
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.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Extracorporeal Membrane Oxygenation Market Segmentation
By Component
- Pumps
- Oxygenator
- Controllers
- Cannula
- Accessories
By Modality
- Veno-Arterial
- Veno-Venous
- Arterio-Venous
By Patient Type
- Neonates
- Pediatric
- Adult
By Application
- Respiratory
- Cardiac
- ECPR
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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.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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