NEW YORK, Jan. 11, 2024 /PRNewswire/ — The extracorporeal membrane oxygenation machines market is expected to grow by USD 243.6 million from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 10.05% during the forecast period, according to Technavio Research.
- Drivers – The increasing incidence of respiratory and heart failure is a key driver, with ECMO machines serving as life-support for chronic cardiovascular and respiratory diseases.
- Trends – Veno-venous segment dominance is a notable trend, driven by the rise in chronic respiratory diseases, respiratory failures, and technological advances in ECMO machines.
- Challenges – High costs associated with cardiac and respiratory procedures
- Segmentation – The report offers extensive research analysis on the Extracorporeal Membrane Oxygenation Machines Market, with a categorization based on modality, including veno-venous, arterio-venous, and veno-arterial. It further segments the market by Product, encompassing ECMO machines and Softwares. Additionally, the report provides geographical segmentation, covering North America, Europe, Asia, and Rest of World (ROW).
- Region- North America contributes significantly, with 37% estimated growth, driven by the increasing prevalence of cardiovascular and respiratory diseases
Information Services Market Insights –
- Companies: 15+, Including Abbott Laboratories, Abiomed Inc., Braile Biomedica, Chalice Medical Ltd., CytoSorbents Europe GmbH, Eurosets Srl, Fresenius Medical Care AG and Co. KGaA, Getinge AB, LivaNova Plc, MC3 Cardiopulmonary, Medtronic Plc, MicroPort Scientific Corp., Nipro Corp., OriGen Biomedical Inc., Palex Medical SA, Sechrist Industries Inc., Senko Medical Industry Co. Ltd., Spectrum Medical Ltd., Terumo Corp., and Xenios AG, among others
- Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and company landscape; company product insights and recent developments; key companies; and market positioning of companies
- Segments: modality (veno-venous, arterio-venous, and veno-arterial), product (ECMO machines and software), and geography (North America, Europe, Asia, and the Rest of the World (ROW)).
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Extracorporeal Membrane Oxygenation Machines Market – Company Insights
The growing competition in the market is compelling companies to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market’s competitive landscape and offers information on several market companies including Abbott Laboratories, Abiomed Inc., Braile Biomedica, Chalice Medical Ltd., CytoSorbents Europe GmbH, Eurosets Srl, Fresenius Medical Care AG and Co. KGaA, Getinge AB, LivaNova Plc, MC3 Cardiopulmonary, Medtronic Plc, MicroPort Scientific Corp., Nipro Corp., OriGen Biomedical Inc., Palex Medical SA, Sechrist Industries Inc., Senko Medical Industry Co. Ltd., Spectrum Medical Ltd., Terumo Corp., and Xenios AG
Extracorporeal Membrane Oxygenation Machines Market – Market Dynamics
Key Driver
The rising number of new product launches is a key factor driving market growth. This growth is particularly influenced by Veno-Venous ECMO and Veno-Arterial ECMO devices, crucial in providing cardiopulmonary support for respiratory failures and cardiac failures. Enhanced oxygenators, centrifugal pumps, and portable ECMO devices have amplified critical care capabilities, catering to diverse healthcare providers, including those specializing in pediatric ECMO and neonatal ECMO within the realm of critical care medicine.
Major Trend
Technological advances are a major trend in the market. This trend encompasses innovations in ECMO technology, integrating biocompatible materials and Artificial Intelligence in ECMO management. Hospital acquisitions, global market trends, and the integration of ECMO in COVID-19 treatment further accentuate this shift, fostering clinical trials and specialized ECMO training programs that address evolving healthcare economics while advancing critical care capabilities.
Significant Challenge
High costs associated with cardiac and respiratory procedures are significant challenges restricting market growth. Balancing research and development in ECMO, ensuring patient safety and quality control and navigating stringent medical device regulations present challenges. Challenges also encompass supply chain management, market analysis, and aligning reimbursement policies with the high costs involved in surgical procedures. Integrating remote monitoring in ECMO stands as a crucial yet complex challenge demanding attention for sustainable market growth.
Drivers, Trends, and challenges have an impact on market dynamics and can impact businesses. Find some insights from a free sample report!
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What are the key data covered in this Extracorporeal Membrane Oxygenation Machines Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Extracorporeal Membrane Oxygenation Machines Market between 2023 and 2027
- Precise estimation of the Extracorporeal Membrane Oxygenation Machines Market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Extracorporeal Membrane Oxygenation Machines Market industry across North America, Europe, Asia, and the Rest of the World (ROW)
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of Extracorporeal Membrane Oxygenation Machines Market companies
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