North America is projected to hold a significant share in the overall growth of the market due to the rising occurrence of chronic respiratory diseases in the region. The flourishing healthcare sector aided by government measures, rising cases of lung cancers, and the presence of ECMO centres in the region are factors anticipated to contribute to the market growth of the region. Speedy FDA approvals regarding machines developed by new companies is further catalysing the market growth in the region. Apart from this, the Asia Pacific region is expected to significantly contribute towards the growth of the market. This can be associated with the dominance of coronavirus pandemic in countries like India, which is propelling the market demand for ECMO machines to treat hospitalised patients. In addition to this, due to rising pollution levels in the region, the rising number of patients with asthma and other lung infections are expected to bolster the growth of global extracorporeal membrane oxygenation machine.
According to a recent report by NYU Langone Health in August 2020, ECMO machines used to treat patients with coronavirus infection resulted in a success rate of 96% survival rate over a 44-day period. Led by researchers at NYU Grossman School of Medicine, the study of 27 patients placed on ECMO found the high survival rate at the end of the study period. ECMO refers to a specialised heart-lung bypass procedure when the lungs cannot function by themselves in patients with severe COVID-19. The market growth is thus anticipated to be bolstered by this study providing evidence in support of the value of extracorporeal membrane oxygenation machines in patients with COVID-19. Furthermore, the industry is further expected to be augmented by constant developments by key market players like Medtronic plc (NYSE: MDT) and LivaNova PLC (NASDAQ: LIVN), among others into ECMO machines.
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Market Analysis by Component, Modality, Patient Type, Application, and Region:
- Based on component, the industry can be divided into pumps, oxygenator, controllers, cannula, and accessories.
- On the basis of modality, the market can be categorised into veno-arterial, veno-venous, and arterio-venous .
- Based on patient type, the market can be divided into neonates, paediatric, and adult.
- Based on application, the market can be categorised into respiratory, cardiac, and extracorporeal cardiopulmonary resuscitation (ECPR).
- The major regional markets for extracorporeal membrane oxygenation (ECMO) machine are North America, Latin America, Europe, the Asia Pacific and the Middle East and Africa.
Key Findings of the Report:
- The market growth is being driven by the rising prevalence of chronic respiratory and cardiovascular diseases, like asthma due to hypertension and rising pollution levels.
- The market witnessed escalated demand for the treatment of patients infected with coronavirus, where ECMO machines were used to treat patients with chronic lung infections.
- Robust investments into development of advanced ECMO machines with oxygenators and hollow pumps, along with compact designs is invigorating the growth of the market.
- Awareness programmes, training sessions, and the growing number of ECMO centres is augmenting the growth of the market.
Key Findings of the Report:
- The market is being driven by applications of extruded polystyrene (XPS) in foundations, ceiling, roofs of houses, and other buildings.
- The market is being augmented by various construction projects as a result of industrialisation and urbanisation in emerging economies.
- Properties such as lightweight composition, environment friendly manufacturing, and ability to resist moisture is favouring the market growth of extruded polystyrene (XPS).
- The residential sector is expected to dominate the market growth over the forecast period due to high purchasing power and robust spending into construction and re-construction projects.
Key Offerings of the Report:
- The EMR report gives an overview of the extracorporeal membrane oxygenation (ECMO) machine industry for the periods (2018-2023) and (2024-2032).
- The report also offers historical (2018-2023) and forecast (2024-2032) markets for modalities, applications, and regions of extracorporeal membrane oxygenation (ECMO) machine.
- The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.
The major players in the global extracorporeal membrane oxygenation (ECMO) machine market are Medtronic plc, LivaNova PLC, Terumo Corporation, Nipro Corporation, Alung Technologies, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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