Extracorporeal Membrane Oxygenation Market is expected
to reach USD 346.1 million by 2024, according to a new report by Grand View
Research, Inc. The growing number of respiratory failure cases and
conditions, such as cardiopulmonary disease and Chronic Obstructive Pulmonary
Disease (COPD) is anticipated to boost the market growth. For
instance, according to the U.S. National Center for Health
statistics, in the year 2014, there were about 149,205 deaths due to chronic
lower respiratory disorders in the U.S.
Moreover, the increased adoption of ECMO machines in
hospitals as a consequence ofthe medical community taking cognizance of the
advantages related to the use of ECMO machines is anticipated to facilitate the
emergence of this market during the forecast period.
Apart from the high applicability of these appliances in
hospitals, technological advancements have played a pivotal role in further
accelerating the usage of these devices. For instance, Medtronic’s Century
heart lung machine, which consists of an arterial pump, data management system
and cardioplegia delivery system, is employed to provide cardiopulmonary
functional support to patients.
Full Research Report on Global Extracorporeal Membrane
Oxygenation (ECMO) Market:
http://www.grandviewresearch.com/industry-analysis/extracorporeal-membrane-oxygenation-ecmo-market
http://www.grandviewresearch.com/industry-analysis/extracorporeal-membrane-oxygenation-ecmo-market
Further key findings from the study suggest:
- The
veno-venous segment held a lucrative sharein 2015 among the modality types
owing to its efficiency and reliability in furnishing gas exchange
support.
- The
respiratory application segment held a remunerative share in 2015; this is
attributed to the increasing number of patients suffering from respiratory
conditions. Moreover, the technological advancement in the ECMO machines
has further increased its adoption rate in hospitals for its use in
respiratory failure conditions.
- North
America dominated the overall market with a revenue share of over 40.0% in
2015 owing to the presence of a well-developed infrastructure and a
suitable reimbursement framework as well as the rise in number of
supportive government funds.
- However,
Asia Pacific is anticipated to be the fastest growing region with a CAGR
of about 5.0% over the forecast period. Notable economic developments and
the advancing healthcare system developed with the aid of supportive
government initiatives are anticipated to assist the growth.
- Moreover,
the rising incidences of respiratory failure and cardiopulmonary diseases
are identified as major impact rendering factors for the growth of this
market. According to the World Health Organization, about 3 million deaths
were reported globally due to COPD in the year 2012, which accounts for 6%
of the total mortality.
- Some
leading players in this vertical include Maquet Holding B. V. & Co.KG,
Microport Scientific Corporation, Medos Medizintechnik AG, Sorin Group,
Medtronic Plc, Terumo Cardiovascular Systems Corporation, and Nipro
Medical Corporation.
- These
key players opt for technologically enhanced products and undertake
collaborations with other companies to implement new product development
strategy goals to sustain a competitive advantage in the industry. For
instance, Medtronic Plc collaborated with Salyer Biomedical, LLC for the
development of their product, Century heart lung machine.
View more reports of
this category by Grand View Research at: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research
has segmented the extracorporeal membrane oxygenation market on the basis of
modality type, application, and region.
Global Extracorporeal Membrane Oxygenation Market, by
Modality Revenue,(USD Million), 2013 - 2024
- Veno-Arterial
- Veno-Venous
- Arterio-Venous
Global Extracorporeal Membrane Oxygenation Market, by
ApplicationRevenue, (USD Million), 2013 - 2024
- Respiratory
application
- Neonates
- Pediatric
- Adults
- Cardiac
application
- Neonates
- Pediatric
- Adults
- Extracorporeal
cardiopulmonary resuscitation
- Neonates
- Pediatric
- Adults
Extracorporeal Membrane Oxygenation Market, byRegion,
(USD Million), 2013 - 2024
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- MEA
- South
Africa
- Saudi
Arabia
Access Press Release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-extracorporeal-membrane-oxygenation-ecmo-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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