The global extracorporeal membrane oxygenation machine market is on an upward trajectory, set to achieve a staggering market size of USD 908 billion by 2032. This remarkable growth, fueled by a rising prevalence of chronic diseases and increasing demand for organ transplants, presents a significant opportunity for the medical technology sector.
According to industry analysts, the extracorporeal membrane oxygenation machine market exhibited a steady Compound Annual Growth Rate (CAGR) of 5% from 2022 to 2032. In 2022 alone, the market size reached USD 531 million, marking the beginning of a surge attributed to the growing need for advanced medical technologies such as extracorporeal membrane oxygenation machines. These devices are pivotal in providing critical cardiac and respiratory support to patients battling severe heart or lung failure.
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“The exponential expansion of the global extracorporeal membrane oxygenation machine market underscores its vital role in modern healthcare, where advanced life support technologies are increasingly indispensable,” said FMI. “As the prevalence of chronic diseases rises and the demand for organ transplants grows, extracorporeal membrane oxygenation machines stand at the forefront of medical innovation, offering life-saving solutions to patients in critical conditions.”
Extracorporeal membrane oxygenation machines function by temporarily taking over the work of the heart and lungs, providing oxygenation and removing carbon dioxide from the blood. This capability is crucial in treating patients with severe respiratory or cardiac failure, including those awaiting organ transplants or recovering from complex surgeries.
The market’s growth is further bolstered by advancements in technology, enhancing the efficiency and reliability of extracorporeal membrane oxygenation machines while reducing associated risks. As healthcare providers worldwide continue to prioritize patient outcomes and invest in cutting-edge medical equipment, the demand for extracorporeal membrane oxygenation machines is expected to escalate significantly.
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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