Extracorporeal Membrane Oxygenation Machine Market Analysis & Forecasts to 2021
NEW YORK, Aug. 30, 2017 /PRNewswire/ -- The extracorporeal membrane oxygenation (ECMO) machine market is poised to reach USD 305.3 million by 2021 from USD 247.2 million in 2016, at a CAGR of 4.3%. Factors such as growing cardiovascular and respiratory diseases, rising adoption of ECMO as a bridge to lung transplantation, growing number of ECMO centers, conferences and training programs to increase awareness, and technological advancements have led to the growth of the market.
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On the basis of modality, the market is segmented into venoarterial (VA), venovenous (VV), and arteriovenous (AV). The venovenous (VV) segment is expected to account for the largest share of the market in 2016. The large share of this segment is mainly attributed to the high incidence of respiratory failure, rising lung transplants, and technological advancements. The arteriovenous (AV) segment is projected to grow at the highest CAGR in the forecast period.
Based on application, the respiratory segment is expected to account for the largest share of the market, in 2016. The large share of this segment is mainly attributed to factors such as rising incidence of respiratory failure, lung cancer, growing lung transplants, and increasing adoption of ECMO systems.
North America is expected to account for the largest share of the global market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The large share of the North American region can be attributed to the favorable reimbursement scenario, the rising incidence of lung cancer, and the presence of a large number of ECMO centers in the U.S.
The Asia-Pacific region is expected to witness the highest growth rate in the forecast period, mainly due to the favorable reimbursement scenario in Japan, the rising cardiovascular diseases in China, the growing application and adoption of ECMO in India, and the rising cardiopulmonary disorders in Australia.
The market witnesses high competitive intensity, as there are several big and small firms with similar product offerings. These companies adopt various strategies (approvals, product launches, agreements & partnerships, expansions, rebranding, acquisitions, website launches, product deployments, and market development) to increase their market shares and establish a stronger foothold in the global market.
Research Coverage:
This report studies the ECMO machine market based on modality, application, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help them, garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies to strengthen their market shares.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the ECMO machine market. The report analyzes the market based on modality, application, and region.
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the ECMO machine market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various Extracorporeal Membrane Oxygenation (ECMO) products across regions.
• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the ECMO machine market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the ECMO machine market
Read the full report: http://www.reportlinker.com/p05049482/Extracorporeal-Membrane-Oxygenation-Machine-Market-Analysis-Forecasts-to.html
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