Extracorporeal membrane oxygenation machine market has been registering increasing revenue as a result of several factors that include increasing use of ECMO machine for open heart surgeries or procedures that involve life threatening cardiovascular and respiratory diseases. Expanding geriatric population, rising prevalence of lung diseases, improvement in ECMO technology are expected to be other driving forces for the ECMO machine market over 2019-2025.
ECMO Highlights/ Market Information:
Increasing number of hospitals and other medical facilities have been reported to have ECMO machines. For instance, in a 2017 report published by the World Health Organization, around 306 hospitals in the U.S. used ECMO machines for the treatment of lung and heart diseases. Additionally, there were 9385 instances of ECMO administration in U.S. hospitals in 2017. Extracorporeal Membrane Oxygenation Machine Market is anticipated to record a CAGR of 4.8% over 2019-2025 and amass an estimated revenue of USD 267.60 million by 2025.
ECMO machines are also known as life support machines. They are designed to oxygenate blood outside the patient’s body and allows the heart and lungs to rest. The ECMO machine works by taking the blood out of the body, into an artificial lung where it adds oxygen and removes carbon dioxide. The blood is then armed to body temperature and pumped back into the body.
Some of the factors such as chances of bleeding, stroke, infection and kidney failure may hamper the growth of ECMO machine market. However, in spite of risks, ECMO machines have been known to save lives and are an integral part of heart and lung bypass surgeries which will continue to add to ECMO machine market revenue by 2025.
Owing to the lifesaving qualities of ECMO machines, they are being increasingly incorporated into hospitals and other medical institutions which has urged ECMO machine market players to invest more into R&D that support the technological growth of ECMO machines. As a result, ECMO machine market has become a competitive space where some of the giants of healthcare device manufacturers are vying with each other to capture a greater market share. Some of these companies include, Medtronic, Siemens, Abbott, Getinge Group, Agilent technologies, Livanova PLC, Terumo Corporation, Nipro Corporation, Fresenius Medical Care AG & Co, ALung technologies etc.
To cite an instance of the growing interest that the ECMO machine market is witnessing it can be mentioned that ALung Technologies, a compny that is considered to be one of the leaders in the low-flow extracorporeal carbon dioxide removal technology, closed a $36 million Series C funding round in 2017. According to plans reported by ALung Technologies, the fund was meant to support the trial for FDA approval of the Hemolung Respiratory Assist System (RAS) developed by the company that was essentially a minimally invasive artificial lung device designed to remove carbon dioxide independently of the lungs through a process called Respiratory Dialysis.
Segmentation Analysis/Regional Analysis:
ECMO machine market divides the market on the basis of component, modality, application and region.
ECMO machine consists of different components such as pumps, controllers, oxygenators, cannula and accessories. ECMO machine market has registered revenue growth on as each component segment has showed growth prospects as ECMO machines have come to be more widely used. Oxygenators segment is expected to record considerable CAGR over 2019-2025 and hold a major ECMO machine market share due to increased application ECMO machines in treatment of heart and lung diseases.
On the basis of modality, ECMO machine market is further segmented as veno-arterial, arteries-venous and veno-venous. Due to the expansive use of veno-arterial ECMO machines in case of cardiac collapse, veno-arterial modal segment of ECMO machine market is expected to hold a major market share while increasing cases of cardiac shock is expected to help in the fast growth of veno-venous modal segment in the coming years.
ECMO machine market has several application segmentations which include respiratory, cardiac and extracorporeal cardiopulmonary resuscitation. Due to the crucial role that ECMO machines play in case of pulmonary function support, respiratory application is anticipated to witness substantial growth in the coming years. On the other hand, increasing incidence of cardiac illnesses is expected to fuel the growth of extracorporeal cardiopulmonary resuscitation or ECPR segment.
On the basis of region ECMO machine market is subdivided into Americas, Europe, Asia Pacific and MEA.
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