Extracorporeal Membrane Oxygenation (ECMO) Market size is set to surpass USD 580 million by 2030, according to a new research report by Global Market Insights Inc.
Increase in the number of patients suffering from severe cardiac and respiratory disorders, as well as growing awareness about extracorporeal membrane oxygenation (ECMO) equipment in developing economies will propel the market progression. ECMO helps to reduce overall duration of invasive ventilation in case of severe COPD exacerbation. Thus, the increasing prevalence of COPD is anticipated to stimulate the market statistics.
Customer demand for ECMO procedures will increase in the future as technology advances coupled with rise in awareness levels about ECMO procedure and its advantages. Additionally, integrated systems with more functionalities have increased system precision and accuracy level over the recent years. The inclusion of polymethylpentene (PMP) fibre technology has further aided in the construction of artificial membranes thereby benefitting system’s performance. In addition, the incorporation of extracorporeal carbon dioxide removal techniques and improved renal dialysis systems in ECMO devices will drive the extracorporeal membrane oxygenation market landscape.
The COVID-19 pandemic has escalated the demand for extracorporeal membrane oxygenation (ECMO) device. In severe cases of acute respiratory distress syndrome, an ECMO machine provides oxygenation and healing time to pulmonary tissues thereby leading to high product adoption. Owing to positive outcomes of ECMO systems in various clinical trials, the market will see significant growth opportunities in near future. However, high product cost may limit adoption rate to some extent, thereby restraining market expansion.
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:
Numerous treatments and advanced applications of ECMO in pulmonary hypertension and cardiac failure cases will accelerate the market trends
Extracorporeal membrane oxygenation market from veno-arterial segment is projected to reach USD 270 million by 2030. This is due to its widespread application in treating patients suffering from cardiac arrest, pulmonary embolism, pulmonary hypertension, and other diseases. Therefore, growing applications and product adoption will stimulate the demand for veno-arterial extracorporeal membrane oxygenation. The system has extended application in management of cardiac output and treatment of hypo perfused tissue that results in cardiogenic shock.
Increasing number of patients suffering from severe cardiac disorders will impel the market share
Cardiac segment held over 29% revenue share in 2021 is set to register a significant CAGR through 2030 owing to rise in the number of patients affected by various diseases such as cardiac arrest. Increasing adoption of unhealthy lifestyles in both men and women will contribute towards the burdening of cardiovascular conditions. Thus, the rising usage of ECMO systems for the treatment of cardiac disorders will boost the extracorporeal membrane oxygenation market size.
Expanding geriatric population base suffering from various chronic diseases will enhance the industry outlook
Adult segment accounted for over USD 215 million in 2021. Increasing number of adults suffering from infectious and chronic diseases will drive the demand for ECMO procedures. Advancements in ECMO technology have increased its application in treatment of adults benefitting the overall business growth. These advances include double lumen cannula, respiratory dialysis, and pumpless veno arterial extracorporeal gas support devices.
Increased incidences of cardiac failure coupled with high accessibility to hospitals in Europe will foster the market revenue
Europe extracorporeal membrane oxygenation market is likely to witness 2% CAGR during the analysis period. This is driven by increasing adoption of innovative ECMO devices by healthcare settings in European countries coupled with growing number of people suffering respiratory and cardiac illnesses in the region. Additionally, rising healthcare spending, developed healthcare infrastructure, and increasing demand for ECMO device in COVID-19-affected countries will have a positive impact on regional market statistics.
Adoption of innovative technologies stimulates the business expansion of the industry players
Some of the notable market players operating in the extracorporeal membrane oxygenation industry are 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, and Terumo Corporation. The companies are continuously improving ECMO machines by adopting innovative technologies for better precision and outcomes.
For instance, In February 2021, Eurosets commercialized its innovative ECMOlife system for extracorporeal life support (ECLS). The product launch helped the company to expand its portfolio and support patients requiring mechanical circulatory support (MCS) and extracorporeal membrane oxygenation (ECMO).