The global extracorporeal membrane oxygenation (ECMO) machine market size is expected to reach USD 307.5 million by 2028 according to a new study by Polaris Market Research. The report “Extracorporeal Membrane Oxygenation Machine Market Share, Size, Trends, Industry Analysis Report, By Component (Pumps, Oxygenators, Controllers, Cannula, Accessories); By Modality (Veno-Arterial, Veno-Venous, Arterio-Venous); By Patient Type; By Application; By Regions; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing old age population, with the rising prevalence of coronary heart disorders, is boosting the adoption of the uptake of Extracorporeal Membrane Oxygenation Machine (ECMO). Coronary heart disorders are strongly correlated with age and are one of the leading causes of death across the globe. According to the estimates of the United Nations, the old age population is expected to rise exponentially to 426 million, by 2050.
Moreover, the rapid uptake of extracorporeal membrane oxygenation machines are catalyzed by the continuously evolving technology landscape. Recent advancements include innovations in pumps, heparin-coated cannulas, and oxygenators used in such systems to be used in surgical procedures. Moreover, portable extracorporeal membrane oxygenation machines are developed, which helps in transportation of the critically ill people.
In 2020, the adult segment accounted for the majority of the share during the assessment period and is likely to retain its dominance. People with a busy and sedentary lifestyle, coupled with consumption of alcohol and smoking are the key factors responsible for the growth. As per the report by Extracorporeal Life Support Organization, in 2016, there were approximately 7,850 adults were suffering from cardiac problems.
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Companies in the market for extracorporeal membrane oxygenation machine include MAQUET Holding B.V., Medtronic plc, Nipro Medical Corporation, Sorin Group, Terumo Cardiovascular Systems, Medos Medizintechnik AG, and Microport Scientific some of the key players operating in the concerned market. Key players in the market are focusing on product launches to stay competitive.
For instance, in February 2020, FDA has approved the heart and lung support machine, “Novalung”, to treat cardiopulmonary failure. This is the first of its kind of extracorporeal membrane oxygenation machine, manufactured by Fresenius Medical Care North America, to be used as life support for patients. This extracorporeal membrane oxygenation machine pumps and oxygenates an individual’s blood, thereby reducing stress on damaged airways and heart.
Moreover, it offers an alternative solution to traditional mechanical ventilation, which usually causes lung injury due to high air pressure. Previously, in September 2017, CytoSorbents Corporation introduced ECMO kit in Austria. The kit is comprised of a blood purification cartridge and tubing connector set, which allows hassle-free integration in the currently available extracorporeal membrane oxygenation machines in the market.
Polaris Market research has segmented the extracorporeal membrane oxygenation machine market report on the basis of component, modality, patient type, application, and region:
Extracorporeal Membrane Oxygenation Machine, Component Outlook (Revenue - USD Million, 2016 - 2028)
Extracorporeal Membrane Oxygenation Machine, Modality Outlook (Revenue - USD Million, 2016 - 2028)
Extracorporeal Membrane Oxygenation Machine, Patient Type Outlook (Revenue - USD Million, 2016 - 2028)
Extracorporeal Membrane Oxygenation Machine, Application Outlook (Revenue - USD Million, 2016 - 2028)
Extracorporeal Membrane Oxygenation Machine, Regional Outlook (Revenue - USD Million, 2016 - 2028)