The
extracorporeal membrane oxygenation market is expected to reach USD 346.1
million by 2024, according to a new report by Grand View Research, Inc. The
growing number of respiratory failure cases and conditions, such as
cardiopulmonary disease and Chronic Obstructive Pulmonary Disease (COPD) is
anticipated to boost the market growth. For instance, according to the U.S.
National Center for Health statistics, in the year 2014, there were about
149,205 deaths due to chronic lower respiratory disorders in the U.S.
 |
| North America extracorporeal membrane oxygenation market share, by application, 2013-2024 (USD Million) |
Moreover,
the increased adoption of ECMO machines in hospitals as a consequence ofthe
medical community taking cognizance of the advantages related to the use of
ECMO machines is anticipated to facilitate the emergence of this market during
the forecast period.
Apart
from the high applicability of these appliances in hospitals, technological
advancements have played a pivotal role in further accelerating the usage of
these devices. For instance, Medtronic’s Century heart lung machine, which
consists of an arterial pump, data management system and cardioplegia delivery
system, is employed to provide cardiopulmonary functional support to patients.
In depth research report on Extracorporeal Membrane
Oxygenation (ECMO) Market
Further key findings from the study suggest:
·
The veno-venous segment held a
lucrative sharein 2015 among the modality types owing to its efficiency and
reliability in furnishing gas exchange support.
·
The respiratory application
segment held a remunerative share in 2015; this is attributed to the increasing
number of patients suffering from respiratory conditions. Moreover, the
technological advancement in the ECMO machines has further increased its
adoption rate in hospitals for its use in respiratory failure conditions.
·
North America dominated the
overall market with a revenue share of over 40.0% in 2015 owing to the presence
of a well-developed infrastructure and a suitable reimbursement framework as
well as the rise in number of supportive government funds.
·
However, Asia Pacific is
anticipated to be the fastest growing region with a CAGR of about 5.0% over the
forecast period. Notable economic developments and the advancing healthcare
system developed with the aid of supportive government initiatives are
anticipated to assist the growth.
·
Moreover, the rising incidences
of respiratory failure and cardiopulmonary diseases are identified as major
impact rendering factors for the growth of this market. According to the World
Health Organization, about 3 million deaths were reported globally due to COPD
in the year 2012, which accounts for 6% of the total mortality.
·
Some leading players in this
vertical include Maquet Holding B. V. & Co.KG, Microport Scientific
Corporation, Medos Medizintechnik AG, Sorin Group, Medtronic Plc, Terumo
Cardiovascular Systems Corporation, and Nipro Medical Corporation.
·
These key players opt for
technologically enhanced products and undertake collaborations with other
companies to implement new product development strategy goals to sustain a
competitive advantage in the industry. For instance, Medtronic Plc collaborated
with Salyer Biomedical, LLC for the development of their product, Century heart
lung machine.
Grand
View Research has segmented the extracorporeal membrane oxygenation market on
the basis of modality type, application, and region.
Global Extracorporeal Membrane Oxygenation Market, by
Modality Revenue,(USD Million), 2013 - 2024
·
Veno-Arterial
·
Veno-Venous
·
Arterio-Venous
Global Extracorporeal Membrane Oxygenation Market, by
ApplicationRevenue, (USD Million), 2013 - 2024
·
Respiratory application
o
Neonates
o
Pediatric
o
Adults
·
Cardiac application
o
Neonates
o
Pediatric
o
Adults
·
Extracorporeal cardiopulmonary
resuscitation
o
Neonates
o
Pediatric
o
Adults
Extracorporeal Membrane Oxygenation Market, byRegion, (USD
Million), 2013 - 2024
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
o
Saudi Arabia
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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