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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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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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