The rising geriatric population and increase in disease occurrence, as well as favorable regulatory changes, investment opportunities, and approaches, are the expected factors to lead the Extracorporeal Membrane Oxygenation Machine Market growth.
JERSEY CITY, N.J., June 2, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Extracorporeal Membrane Oxygenation Machine Market" By Component (Pumps, Cannula), By Modality (Veno-Venous, Veno-Arterial), By Patient Type (Adult, Pediatric), By Application (Respiratory, ECPR), and By Geography. According to Verified Market Research, Extracorporeal Membrane Oxygenation Machine Market size was valued at USD 500.94 Million in 2020 and is projected to reach USD 740.85 Million by 2028, growing at a CAGR of 5.74% from 2021 to 2028.
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Global Extracorporeal Membrane Oxygenation Machine Market Overview
The rising geriatric population and increase in disease occurrence, as well as favorable regulatory changes, investment opportunities, and approaches, are the factors for the growth of this market. The benefits of ECMO machines have assisted in their adoption, their speed, and efficiency, as well as fast processing times, enable for considerably higher patient screening amounts than in previous times. Extracorporeal membrane oxygenation machines are progressively being used as an overpass to lung transplantation. The rising number of cardiovascular and respiratory diseases has led to an increase in the amount of ECMO centers, meetings, and skills training to promote awareness. Furthermore, growth in the geriatric population produces a new market for the Extracorporeal Membrane Oxygenation Machine Market.
ECMO is a costly therapy. Aside from the costs involved with the processes, other expenditures include the expense of hospital treatment and the expense of additional consumable accessories. Moreover, an entire group of healthcare experts is needed to care for patients undergoing an ECMO procedure, which increases the cost of the diagnosis, though it completely depends on the period of its use. The total cost of the procedure, where most patients could really afford. However, the increased cost, health complications, and equipment problems in ECMO machines are some of the major limitations that hinder the growth of the global extracorporeal membrane oxygenation machine during the projected period.
Key Developments
- In February 2020, The Novalung extracorporeal membrane oxygenation (ECMO) system has already been approved by the Food and Drug Administration for the treatment of severe lung diseases or cardiorespiratory failure.
- In March 2017, Hemovent GmbH has filed two new patent protection for a gas exchanger and a pump in connection with its novel and compact extracorporeal membrane oxygenation (ECMO) device.
Key Players
The major players in the market are Nipro Medical Corporation, OriGen Biomedical, Gentinge Group, Sorin Group, Microport Scientific Corporation, Medtronic plc, LivaNova PLC, Terumo Cardiovascular system Corporation, and MAQUET Holding B.V & Co. KG.
Verified Market Research has segmented the Global Extracorporeal Membrane Oxygenation Machine Market On the basis of Component, Modality, Patient Type, Application, and Geography.
- Extracorporeal Membrane Oxygenation Machine Market, By Component
- Pumps
- Cannula
- Oxygenator
- Accessories
- Controller
- Extracorporeal Membrane Oxygenation Machine Market, By Modality
- Veno-Venous
- Veno-Arterial
- Arterio-Venous
- Extracorporeal Membrane Oxygenation Machine Market, By Patient Type
- Adult
- Pediatric
- Neonates
- Extracorporeal Membrane Oxygenation Machine Market, By Application
- Respiratory
- ECPR
- Cardiac
- Extracorporeal Membrane Oxygenation Machine Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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