Extracorporeal membrane oxygenation (ECMO) is one of the widely used machines that provides respiratory and cardiac support for patients whose lungs and heart are struggling to provide the required supply of 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 majorly derived from cardiopulmonary bypass that helps to provide support with arrested native circulation.
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 the area of venovenous ECMO. Companies in the global ECMO machine market may see promising growth opportunities as a result of these developments. As 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 United States, followed by heart failure and stroke.
Key Dynamics of the Extracorporeal Membrane Oxygenation Machine Market
Factors such as the increasing prevalence of cardiovascular diseases, the rising acceptance of the ECMO machine for performing lung transplantation, and the increased number of ECMO centers are driving the extracorporeal membrane oxygenation machine market. Furthermore, the market is predicted to expand on account of increasing cases of lung diseases along with 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 increasing acceptance of ECMO machines to treat adult patients is creating lucrative opportunities for market players.
COVID-19 Impact on Extracorporeal Membrane Oxygenation Machine Market
A pandemic of an infectious disease known as COVID-19 is currently making an adverse effect on the health of people globally. Multiple organ failure, acute and serious respiratory problems, pneumonia, and even death may occur as a result of this infection. The demand for extracorporeal membrane oxygenation machines is growing as a result of this. For the fight against COVID-19, the government has taken steps to extend the use of ECMO machines.
Regional Scenario for Extracorporeal Membrane Oxygenation Machine Market
The North American region is anticipated to account for the largest share of the market. The demand in North America is being driven by the increasing incidence of lung cancer, technological advancements, and growing awareness regarding the importance of ECMO machines for patient care. Additionally, increasing acceptance of this machine in hospitals and favorable government initiatives further driving the regional market growth. On the other side, the Asia Pacific region is projected to grow exponentially as a result of increased investments in healthcare infrastructure and the growing prevalence of cardiovascular diseases.
New Market Entrants Posing a Challenge for Established Market Players
The majority of extracorporeal membrane oxygenation systems are developed by global leading players. Market leaders have strengthened their position in the market by investing more in research and having a better distribution system. Furthermore, Owing to spread awareness regarding the potential of the market, several startups are emerging in the Asia-Pacific region. 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., and Medtronic plc, Sorin Group.
Deep-dive Insights on Extracorporeal Membrane Oxygenation Machine Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/extracorporeal-membrane-oxygenation-ecmo-machine-market/request-for-sample