The global extracorporeal membrane oxygenation machine market was valued at USD 267.60 million in 2018 and is likely to grow at a 4.8% CAGR forecast period, as per the recent report by Market Research Future (MRFR). Extracorporeal membrane oxygenation machine or the life support machine is used to treat various lung and heart disease. Its function is to offer the body with sufficient oxygen when the lung and heart do not function properly. The extracorporeal membrane oxygenation machine is used to treat lung cancer and other chronic disorders.
Various factors are adding to the extracorporeal membrane oxygenation machine market growth. According to the new MRFR report, such factors include increasing cases of lung cancer & other chronic diseases, rising geriatric population, growing prevalence of cardiovascular diseases, increasing use of ECMO, technological advances, and increasing awareness programs.
On the contrary, increasing side effects post treatment, technical failures, scarcity of skilled professionals, and high surgery costs are factors that may limit the extracorporeal membrane oxygenation machine market growth over the forecast period. Notable players profiled in the global extracorporeal membrane oxygenation machine market report include Terumo Cardiovascular Systems Corp, Medos Medizintechnik AG, MAQUET Holding B.V. & Co. KG, ALung Technologies, Inc., Nipro Corporation, Microport Scientific Corporation, Fresenius Medical Care AG & Co. KGaA, Terumo Corporation, Siemens AG, Agilent Technologies, Abbott, Livanova PLC, Medtronic, and Getinge Group.
The MRFR report offers an inclusive segmental analysis of the global extracorporeal membrane oxygenation machine market report based on application, modality, and component.
- Arterio-Venous (AV)
- Veno-Venous (VV)
- Veno-Arterial (VA)
- Extracorporeal Cardiopulmonary Resuscitation (ECPR)
Based on the region, the global extracorporeal membrane oxygenation machine market report covers the growth opportunitues and recent trends across the Americas, Europe, the Asia Pacific (APAC), and the Middle East & Africa (MEA). Among these, the Americas will lead the market over the forecast period. The development of new medical devices, rising investment in R&D, favorable reimbursement scenario, and the rising prevalence of lung cancer are adding to the growth of the market in the region. The US & Canada are the major contributors in the region for increasing cases of cancer in the region and high COPD cases.
The extracorporeal membrane oxygenation machine market in Europe is predicted to have the second-largest share in the market over the forecast period. The involvement of key companies, the rise in chronic diseases, and the presence of a well-established healthcare system are adding to the growth of the market in the region. Rising cases of lung cancer are also boosting the market growth.
The extracorporeal membrane oxygenation machine market in the APAC region is predicted to grow at a fast pace over the forecast period. Growing cases of lung cancer are adding to the growth of the market in the region. China is a major contributor in the region, with a good number of people being diagnosed with lung cancer each year and is a key cause of death.
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