Extracorporeal Membrane Oxygenation Market worth USD 580 Million by 2030, says Global Market Insights Inc.

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Jun 15, 2022, 06:15 ET

ECMO Industry is anticipated to register 2% CAGR between 2022 and 2030 due to growing prevalence of several cardiac and infectious diseases.

SELBYVILLE, Del., June 15, 2022 /PRNewswire/ -- The extracorporeal membrane oxygenation market value is expected to reach USD 580 million by 2030, according to a new research report by Global Market Insights Inc. Growing prevalence of diseases related to the heart and lungs coupled with increasing demand for ECMO procedures will stimulate the overall market expansion.

Extracorporeal Membrane Oxygenation (ECMO) Market

Rising patient awareness regarding the importance of cardiopulmonary assistance for severe cardiac and respiratory conditions will increase the rate of ECMO product adoption. The introduction of patient awareness programs regarding ECMO device usage in emerging regions including Latin America will result in increased demand for these systems. Moreover, the application of ECMO machines in treating critical COVID-19 patients further broadened awareness in the region, thereby expanding treatment accessibility to the patients.

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Technological advancements in the field have driven product sales in recent years. The assembly of individual components to create integrated systems with increased efficiency, added features, and improved portability has influenced market expansion. The introduction of polymethylpentene (PMP) fiber technology has aided in the development of artificial membranes with low resistance, greater biocompatibility, and longer duration. Additionally, market players are increasingly investing in R&D activities for the development of technologically advanced ECMO devices will fuel the overall market progression.

Some major findings of the extracorporeal membrane oxygenation market report include:

Growing treatment accessibility coupled with awareness initiatives regarding extracorporeal membrane oxygenation procedure will fuel the business landscape.
Increasing adoption of sedentary lifestyle majorly contributes to the growing number of people suffering from respiratory diseases drive the overall industry outlook.
Growing incidence of pulmonary disorders will foster the market revenue.
Increased number of COVID-19 cases has led to a rise in demand for ECMO device to treat infected population effectively. ECMO was progressively being used in the treatment of COVID-19 patients for conditions such as acute respiratory distress syndrome (ARDS) as COVID-19 is known to cause the severe respiratory syndrome.

Browse key industry insights spread across 154 pages with 183 market data tables & 15 figures & charts from the report, "Extracorporeal Membrane Oxygenation Market Analysis By Modality (Venoarterial [VA]l, Veno-venous [VV], Arteriovenous [AV]), Application (Cardiac, Respiratory, Extracorporeal Cardiopulmonary Resuscitation), Patient Population (Infant, Pediatric, Adult), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/extracorporeal-membrane-oxygenation-market

Extracorporeal membrane oxygenation market from arteriovenous segment surpassed USD 85 million in 2021. Arteriovenous is considered an effective life-saving therapeutic option for pulmonary embolism. Increasing incidence of cardiovascular diseases coupled with rising demand for technologically advanced products will accelerate the industry trends. Acute heart failure and organ hypoxia both contribute to massive pulmonary embolism, contributing to market size. Therefore, large patient pool will boost demand for arteriovenous ECMO therapy.

Extracorporeal cardiopulmonary resuscitation (ECPR) segment is set to cross USD 35 million by 2030. ECPR is used in patients having sudden and unexpected pulselessness caused by cessation of cardiac mechanical activity. The technique is considered in limited patients suffering from cardiac arrest, according to Extracorporeal Life Support Organization (ELSO) and American Heart Association (AHA) guidelines. Hence, increasing adoption of ECPR with the rising occurrence of sudden cardiac arrests will impel the market statistics.

Asia Pacific extracorporeal membrane oxygenation market is estimated to witness 5.1% CAGR during the analysis timeframe. This is owing to rising prevalence of Chronic Obstructive Pulmonary Disease (COPD), as well as increased awareness of ECMO and the deployment of these devices in hospitals. Additionally, the Asia Pacific Extracorporeal Life Support Organization works to raise knowledge about modern ECMO systems in order to increase its product usage.

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Notable companies in the global ECMO market include Abbott Laboratories, Fresenius Medical Care AG & Co. KGaA, Braile Biomedica, Edwards Lifesciences Corporation, Abiomed, Eurosets, Getinge AB, LivaNova PLC, Medtronic, MicroPort Scientific Corporation, Nipro, SB-Kawasumi Laboratories, Inc, Spectrum Medical, Terumo Corporation, among others. These market players implement several business development strategies such as partnerships and collaborations to gain competitive advantage.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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SOURCE Global Market Insights Inc.