The global extracorporeal membrane oxygenation machine market is experiencing unprecedented expansion, with a projected market size expected to soar to USD 908 billion by 2032. This remarkable growth trajectory, fueled by a rising prevalence of chronic diseases and increasing demand for organ transplants, underscores a significant opportunity for the medical technology industry.
Industry analysts have forecasted a steady Compound Annual Growth Rate (CAGR) of 5% from 2022 to 2032. In 2022 alone, the market reached USD 531 million, marking the onset of a surge attributed to the growing necessity for advanced medical technologies like ECMO machines. These machines play a pivotal role in providing critical cardiac and respiratory support to patients grappling with severe heart or lung failure.
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As chronic diseases continue to impact a significant portion of the global population, the demand for ECMO machines has grown exponentially. These life-saving devices offer a vital lifeline for patients battling chronic illnesses.
Furthermore, the steady rise in organ transplantation procedures is another key driver of the ECMO machine market. These machines play a crucial role in supporting patients during critical phases of transplantation, ensuring a smoother recovery process.
FMI Poised to Lead the ECMO Machine Market Charge:
FMI, a leading player in the extracorporeal membrane oxygenation machine market, is well-positioned to capitalize on this burgeoning market trend. With a unwavering commitment to innovation and a proven track record of delivering cutting-edge medical solutions, FMI is geared towards meeting the escalating demand for ECMO machines. The company remains dedicated to advancing healthcare outcomes and contributing to the well-being of patients worldwide.
Key Takeaways:
- By application, high demand for early diagnosis and diagnostic imaging, and technological advancements in the extracorporeal membrane oxygenation machine market are expected to propel the respiratory segment to the top.
- The arterio-venous segment is likely to hold the majority of the market based on modality owing to the benefits associated with this technology segment, such as effective dynamic range, thereby boosting the ECMO systems market growth.
- Based on patient type, the adult segment is projected to lead the market as the global burden of cardiac and respiratory diseases in adults is rising due to increased consumption of alcohol, tobacco, smoking, and a sedentary lifestyle.
Because of the presence of major players and the rising number of product launches, government support for high-quality healthcare, which is also seen as one of the key trends in the ECMO systems market, and the rising prevalence of diseases in the United States and Canada, such as chronic obstructive pulmonary disease, which increases hospital admission and is favoured by reimbursement policies, the North American market is anticipated to lead the ECMO systems market. An FMI analyst claims.
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Competitive Landscape:
- Medtronic plc (USA),
- Fresenius Medical Care A.G. & Co. KGAA (Germany),
- Getinge Group (Sweden),
- Microport (China),
- Origin Biomedical (USA),
- Terumo Cardiovascular Systems Corporation,
- Livanova plc (United Kingdom),
- Nipro Corporation (Japan),
- Euro sets S.R.L. (Italy),
- Cytosorbents Corporation (Australia),
- Abiomed
Major global players produce the majority of ECMO support systems. Market leaders have established their position by investing more in research and having a better distribution system.
To stay competitive in the market, extracorporeal membrane oxygenation machines manufacturers are actively involved in product launches and technological innovation.
- ALung Technologies, Inc. has begun commercialization of its ground-breaking next-generation artificial lung. The device is based on University of Pittsburgh intellectual property licensed to ALung Technologies, Inc.
- Medtronic has released its artificial lung therapy for the treatment of COVID-19. An artificial pump that pumps blood from a person’s body to an oxygenator is called ECMO, and it also has an FDA-approved device for ECMO procedures lasting up to 6 hours.
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Key Segments:
By Product:
- ECMO Machines
- Portable Devices
- Static Devices
- Software
By Service Type:
- Application
- Middleware
- Infrastructure
By Component:
- Pumps
- Oxygenators
- Controllers
- Cannul
- Assessories
By Modality:
- Veno-Venous
- Veno-Arterials
- Arterio-Venous
By Patient Type:
- Neonates
- Pediatrics
- Adults
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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