Extracorporeal Membrane Oxygenation Market 2020 By Regional Trend & Growth Forecast To 2025
Category: #business  By Ronak Bora  Date: 2021-03-31
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Extracorporeal Membrane Oxygenation Market 2020 By Regional Trend & Growth Forecast To 2025

Extracorporeal Membrane Oxygenation Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Extracorporeal membrane oxygenation (ECMO), which is typically used during heart or lung surgery, has widely been used in recent months as a last resort for recovery from COVID-19. Many companies around the world have been making collaborative efforts to boost the production of ECMO equipment. In July 2020, CVD Materials Corporation, Keyence Corporation, and Dymax Corporation of America had collaborated to accelerate the development of c-VACNT ECMO platform.

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It is estimated that global extracorporeal membrane oxygenation market size will exceed an annual valuation of US$370 million by 2025. 

The pivotal factors contributing to the rising preference for veno-venous ECMO for the treatment of acute respiratory diseases are complete respiratory support, less complications, reduced risk of bleeding and lower recirculation rate. Moreover, successful application of veno-venous technique during H1N1 epidemic has led to its increased popularity across the industry. According to the report, the segment had an appreciable valuation of over USD 105.0 million in 2018 and given the prominence of above-mentioned factors, it is likely to witness remarkable growth over the subsequent years.

Respiratory disease application segment held a significant market share with a valuation of USD 175 million in 2018 and is projected to grow over time owing to increasing cases of respiratory failure, pulmonary diseases and lung cancer. According to the WHO, more than 1,80,000 deaths are recorded every year due to asthma. The increasing rate of respiratory disorders along with the growing awareness regarding ECMO procedure is anticipated to drive the segmental growth over the upcoming years.

Adult patient population segment is estimated to register a CAGR of 4.6% over the given timeline on account of growing incidences of acute respiratory condition among adults especially in the developing economies. As per WHO report, mortality rate among people aged above 60 years is 10 times higher than in people aged between 15 to 59. Considering these factors, demand for ECMO systems in this segment is anticipated to rise exponentially.

Canada extracorporeal membrane oxygenation market had secured a sizeable market share of 15% across North America in 2018 owing to the rising cases of cardiovascular diseases in the country. Other prominent factors such as enhanced healthcare infrastructure and availability of highly skilled healthcare professionals in Canada are expected to fuel the demand for ECMO systems, thereby providing positive growth prospects to the regional market over the foreseeable future.

Moreover, several manufacturers based in Canada are also developing new products to meet the growing demand in the country. For instance, in 2019, Technimount System announced its collaboration with a Canadian Heart and Lung Institute for the development of Xtension Pro – ECMOTM, a support system aligned with ECMO devices. According to the company, the product has been designed especially for North American patient transport and  will provide more comfortable and safe transportation to the patient as well as medical staff.

The UK ECMO industry had marked a valuation of USD 15.0 million in 2018 and is expected to observe substantial growth over the coming years, considering the rising incidences of respiratory diseases in the country. Based on official statistics, respiratory disorders are the third major cause of death in the UK with an economic burden of over USD 12 billion per year for all lung conditions. With increasing prevalence of respiratory diseases, awareness regarding ECMO procedure has increased significantly amongst  the residents, which will positively influence the market growth.

Prominent industry players operating in extracorporeal membrane oxygenation market such as Abbott, Medtronic, Terumo, Getinge, Alung Technologies and LivaNova, etc. are emphasizing on several strategic initiatives such as new product launch, geographic expansion, mergers and collaborations to gain a strong foothold in the market. 

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Partial Chapter of the Table of Content 

Chapter 4. Extracorporeal Membrane Oxygenation Market, By Modality

4.1. Key segment trends

4.2. Venoarterial (VA)

4.2.1. Market size, by region, 2014 - 2025

4.3. Veno-venous (VV)

4.3.1. Market size, by region, 2014 - 2025

4.4. Arteriovenous (AV)

4.4.1. Market size, by region, 2014 - 2025

Chapter 5. Extracorporeal Membrane Oxygenation Market, By Application

5.1. Key segment trends

5.2. Cardiac diseases

5.2.1. Market size, by region, 2014 - 2025

5.3. Respiratory diseases

5.3.1. Market size, by region, 2014 - 2025

5.4. Extracorporeal cardiopulmonary resuscitation (ECPR)

5.4.1. Market size, by region, 2014 - 2025

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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