Extracorporeal Membrane Oxygenation Machines Market Expected to Grow at a CAGR of 5.4% from 2019 to 2027
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Extracorporeal Membrane Oxygenation Machines Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019-2027
ALBANY, NEW YORK, UNITED STATES, December 15, 2021 /EINPresswire.com/ – Transparency Market Research (TMR) released a new report titled “Extracorporeal Membrane Oxygenation Machines Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019-2027 ‘. According to the report, the global extracorporeal membrane oxygenation machines market was valued at US $ 0.3 billion in 2018 and is expected to grow at a CAGR of 5.4% from 2019 to 2027.
Overview
Extracorporeal membrane oxygenation system is used for the patient with heart failure and pulmonary insufficiency. Extracorporeal membrane oxygenation refers to one of the extracorporeal pulmonary assist technologies (ECLA), mainly adopted to partially or completely replace the cardiopulmonary function of patients in order to protect the oxygen supply to the organs and save time. to treat primary diseases
The world is currently experiencing a pandemic of an infectious disease called COVID-19. The government is taking initiatives to address these pressing public health issues by helping to increase product availability and expanding the indication of the extracorporeal membrane oxygen system. For example, for the treatment of COVID-19, guidelines from the Chinese Ministry of Health consider extracorporeal membrane oxygenation (ECMO) as a lifesaving treatment measure. This in turn creates a significant opportunity in the extracorporeal membrane oxygenation machine market.
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The extracorporeal membrane oxygenation machine market is currently booming, due to the current exceptional crisis scenario of the COVID-19 pandemic.
North America dominates the global extracorporeal membrane oxygenation machine market in 2018 and the trend is expected to continue during the forecast period. The growth of the market in the region is attributed to a well-established healthcare infrastructure and the presence of a large number of extracorporeal resuscitation organizations.
Asia-Pacific is likely to be a very lucrative market for the Extracorporeal Membrane Oxygenation Machine market and it is expected to grow at a high CAGR during the forecast period. The large patient pool, increasing healthcare spending, and demand for new advanced therapies are key factors that are likely to drive the Extracorporeal Membrane Oxygenation Machine market in Asia-Pacific.
Higher Survival Rates Due to Use of ECMO Resuscitation Machines to Drive Global Extracorporeal Membrane Oxygenation Machines Market
The use of extracorporeal life support in neonates, pediatric patients and adults with respiratory, cardiac and ECPR distress has increased survival rates. According to an article published in the NCBI, the survival rate of newborns with respiratory diseases was 84%; it was 62% for heart disease; and 64% in case of ECPR. In pediatric patients, the survival rate was 66% in the event of respiratory pathologies; 67% in case of heart disease; and 55% in case of ECPR. In adults, the survival rate was 66% in the event of respiratory pathologies; 56% in case of heart disease; and 40% in case of ECPR. These survival rates were much higher than those of patients without any support after discharge. Thus, higher survival rates due to the use of ECMO devices in patients with respiratory distress, cardiac arrest and ECPR are likely to increase the use of ECMO devices during the period of treatment. forecast.
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Oxygenator Segment to Dominate Extracorporeal Membrane Oxygenation Machine Market
In terms of component type, the global extracorporeal membrane oxygenation machine market has been segmented into pumps, oxygenators, heat exchangers, saturation monitors, and others. High product prices, new product innovation and technological advancements are the main driving factors of the oxygenator segment. The pumps segment then split into roller pumps and centrifugal pumps. Benefits such as easy maintenance and lower investment costs are expected to accelerate the growth of the pump segment in the near future.
Respiratory Segment Holds Significant Share of Global Extracorporeal Membrane Oxygenation Machine Market
On the basis of applications, the global Extracorporeal Membrane Oxygenation Machine market has been segmented into Resuscitation, Cardiology, and Extracorporeal. The increasing consumption of alcohol and tobacco around the world is expected to increase the COPD population, which will ultimately fuel the growth of the respiratory segment.
Venous Segment to Dominate Extracorporeal Membrane Oxygenation Machine Market
In terms of modality, the global Extracorporeal Membrane Oxygenation Machine market has been segmented into Vein-Arterial, Vein-Venous, and Arteriovenous. Adoption of technologically advanced products will likely increase segment growth
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North America to Dominate the Global Extracorporeal Membrane Oxygenation Machine Market
In terms of region, the global extracorporeal membrane oxygenation machine market has been segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America dominated the global extracorporeal membrane oxygenation machine market in 2018, followed by Europe.
North America accounted for a significant share of the global extracorporeal membrane oxygenation machine market in 2018. Healthcare and payment infrastructure and a hub for major industry players are the major drivers of the market extracorporeal membrane oxygenation machines in the area.
The Asia-Pacific Extracorporeal Membrane Oxygenation Machines market is expected to grow at a high CAGR from 2019 to 2027. Unmet medical needs, untapped nature of the market, improved healthcare infrastructure and awareness of Chronic diseases are the key drivers of Extracorporeal Membrane Oxygenation Machine market growth in the region
Competitive landscape
The global extracorporeal membrane oxygenation machines market is fragmented in terms of the number of players. The major players in the global extracorporeal membrane oxygenation machine market are Terumo Corporation, Medtronic plc, Getinge AB, LivaNova PLC, Nipro Corporation, MicroPort Scientific Corporation, XENIOS AG, OriGen Biomedical, EUROSETS and Hemovent GmbH
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