Extracorporeal Membrane Oxygenation Machine Market worth $673 million by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 26, 2021 /PRNewswire/ -- According to the new market research report "Extracorporeal Membrane Oxygenation Machine Market by Product, Component, Patient Type (Neonates, Pediatrics and Adults), Modality Outlook (Veno-Venous, Veno-Arterio and Arterio-Venous), Applications, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global ECMO machine market is expected to reach USD 673 million by 2026 from an estimated USD 531 million in 2021, at a CAGR of 4.9% from 2021 to 2026.
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The major factors driving the growth of this market include the increasing geriatric population and growth in disease incidence as well as favorable government regulations, investments, and initiatives. The advantages of ECMO machines have played a key part in their adoption; their speed and accuracy, as well as quick processing times, allow for significantly higher patient screening volumes than earlier. This has pushed companies to focus on product development and innovation.
The adults segment dominated the ECMO machine market in 2020
Based on patient type, the ECMO machine market is segmented into adults, prediatrics ad neonates. The adult segment commanded the largest share of the global ECMO machine market in 2020. ECMO has been used for more than 40 years, and its benefits in neonates with respiratory distress are well recognized. The benefits of ECMO in adult patients with cardiac failure or refractory acute respiratory distress syndrome (ARDS) are still debated, as ECMO was initially associated with poor survival rates. However, recent technological advances in ECMO circuits have led to a reduction in the rate of technical issues and complications.
Portable ECMO machines are expected to register the highest CAGR during the forecasted period
Based on product type, the ECMO machine market is segmented into Static ECMO machines and Portable ECMO machines. Portable ECMO machine segment is expected to dominate the market during the forecast period. Portable ECMO machines can be transported to any desired location and are light in weight. These systems are especially used in a variety of imaging-set ups, including intensive care units, cardiac care units, neonatal intensive care units, operating rooms, emergency rooms, and at the patient's beside for critically ill patients or patients with mobility challenges.
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The Pumps ECMO machine segment dominated the ECMO machine market in 2020
The global ECMO machine market is divided into- pumps, oxygenators, controllers, cannula and accessories. The controllers segment is expected to dominate the market during the forecast period. The large share of this segment can be attributed to the greater adoption of the systems among end users due to their lower cost compared to other systems.
Arterio-Venous dominated the ECMO machine market in 2020
Based on modality, the ECMO machine market is segmented into veno-arterio, veno-venous and arterio-venous. Arterio-Venous segment is expected to dominate the market during the forecast period. Arteriovenous ECMO facilitates gas exchange, especially carbon dioxide removal, by using the patient's own arterial pressure to pump blood through the circuit. It is also referred to as an extracorporeal carbon dioxide removal (ECCO2 R) system, as it is more efficient at CO2 removal. This is a key factor driving market growth.
The respiratory applications segment dominated the ECMO machine market by applications in 2020
Based on applications, the ECMO machine market is segmented into respiratory, cardiac and ECPR applications. The general respiratory segment is expected to dominate this market during the forecast period. Growth in this market can be attributed to the increasing prevalence of target diseases, high demand for early diagnosis, and technological advancements in the ECMO machines market.
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Asia Pacific is expected to see the highest growth in the ECMO machine market by region
The ECMO machine market is segmented into five major regions—North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest regional market for ECMO machines, whereas the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period.
Growth in the ECMO machine market in the Asia Pacific is mainly driven by the growing geriatric population, particularly in Japan; increasing disposable incomes, allowing for greater affordability for advanced technologies; the rising prevalence of target diseases; and favorable government initiatives. Such factors help to drive the market for digital imaging systems in this region and draw foreign investments and partnerships.
The ECMO machine market is dominated by Getinge Group (Sweden), Medtronic plc (US), Fresenius Medicalcare AG & Co. KGAA (Germany), Microport (China), and Terumo Cardiovascular Systems Corporation (Japan). The other leading market players include Livanova plc (UK), Nipro Corporation (Japan), Eurosets S.R.L. (Italy), Origin Biomedical (US), Cytosorbents Corporation (Australia), and Abiomed (US).
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