When a person's heart or lungs have weakened to the point that they do not function properly, sometimes due to an illness like pneumonia, heart failure, or a severe infection, conventional life support is no longer sufficient. The doctors then utilize an extracorporeal membrane oxygenation (ECMO) machine. Sometimes referred to as a last-resort life support, ECMO functions as a blood pump and an artificial lung for a short period, allowing the lungs and heart to rest and giving the body time to recover. Let’s take a look at the basics of ECMO machines and what’s driving the extracorporeal membrane oxygenation machine market forward.
Extracorporeal Membrane Oxygenation Machine: Overview
The extracorporeal membrane oxygenation (ECMO) machine is one of the most widely used devices that provides respiratory and cardiac support for patients whose lungs and hearts are struggling to maintain gas exchange. This machine is popularly known as the life support machine. People struggling with life-threatening diseases need such machines to ensure the proper functioning of their lungs and heart. The technology used in the ECMO machine is primarily derived from cardiopulmonary bypass, which helps provide support in the absence of native circulation.
Key Market Metrics
The extracorporeal membrane oxygenation machine market is poised to witness sustained growth. The market for these machines is expected to reach USD 307.5 billion by 2028. The market is expected to account for a CAGR of 5.8% during the forecast period, 2021 to 2028.
Market Dynamics
The global market is benefiting from this machine's higher effectiveness compared to other traditional treatment methods used by clinicians. The market is also benefiting greatly from recent significant advancements in standardized ECMO practices, especially in venovenous ECMO. Companies in the global ECMO machine market may see promising growth opportunities as a result of these developments. According to the American Heart Association, coronary heart disease is among the leading cause that leads to a majority of deaths. This increased mortality rate is attributed to increased cardiovascular disease incidences in the U.S., followed by heart failure and stroke.
Factors such as the increasing prevalence of cardiovascular diseases, the growing acceptance of ECMO for lung transplantation, and the expansion of ECMO centers are driving the ECMO market. Furthermore, the market is expected to expand due to rising cases of lung diseases and the rapidly growing geriatric population. The need for ECMO is growing as the incidence of lung and heart diseases has increased across the globe. The growing acceptance of ECMO machines for treating adult patients is creating lucrative opportunities for market players. ECMO machines are also being explored to support patients with severe respiratory failure in the non-small cell lung cancer market.
Regional Market Assessment
North America is anticipated to account for the largest share of the market. The demand in North America is driven by the rising incidence of lung cancer, technological advancements, and growing awareness of the importance of ECMO machines for patient care. Additionally, increasing acceptance of this machine in hospitals and favorable government initiatives are further driving the regional market growth. On the other hand, the Asia Pacific is projected to grow exponentially due to increased investments in healthcare infrastructure and the rising prevalence of cardiovascular diseases.
Market Key Players
Leading global players account for the majority of extracorporeal membrane oxygenation systems. Market leaders have strengthened their positions by investing more in research and improving their distribution systems. Furthermore, as market awareness of the region's potential increases, several startups are emerging in the Asia Pacific. This has also aided the market's expansion.
The key players present in the extracorporeal membrane oxygenation machine industry include Terumo Cardiovascular Systems, Microport Scientific, Nipro Medical Corporation, Medos Medizintechnik AG, MAQUET Holding B.V., Medtronic plc, and Sorin Group.
Conclusion
The Extracorporeal membrane oxygenation machine market is one of the greatest advances in modern medicine. ECMO delivers oxygen and removes carbon dioxide for patients when the heart or lungs are not functioning properly, and it can maintain a person for an extended period of time and provide support for certain medical therapies. It is a complex and risky procedure; however, its application has saved the lives of patients of all ages and with various underlying health conditions.
Deep-dive Insights on Extracorporeal Membrane Oxygenation Machine Market Report
