Global Extracorporeal Membrane Oxygenation Market to be Driven by the Rampant Spread of the COVID-19 Infection in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Extracorporeal Membrane Oxygenation Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global extracorporeal membrane oxygenation market, assessing the market based on its segments like component, modality, patient type, application, and major regions.

Table of Contents

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2016-2026)

Historical Market Size (2020): USD 210 Million
Forecast CAGR (2021-2026): 8%
Forecast Market Size (2026): USD 278 Million

The global spread of the COVID-19 has resulted in a huge increase in the demand for ECMO machines. Patients with severe COVID-19 infection require these machines because their compromised immunity and long-term symptoms put them vulnerable to organ failure. This is estimated to positively impact the market growth in the forecast period. Growing cardiovascular and respiratory disorders, expanding usage of ECMO as a bridge to lung transplantation, increasing number of ECMO centres, conferences, and training programmes to enhance awareness, and technological improvements are all contributing to the market’s growth.

As a result of rising respiratory disorders, particularly among the elderly, and rising levels of air pollution around the world, the respiratory segment is expected to grow significantly. During the projected period, these factors are expected to contribute to overall market growth.

Industry Definition and Major Segments

Extracorporeal membrane oxygenation (ECMO), also known as extracorporeal life support (ECLS), is an extracorporeal procedure for giving long-term cardiac and respiratory support to people whose hearts and lungs are unable to generate enough gas exchange or perfusion to keep them alive. Cardiopulmonary bypass, which provides shorter-term assistance with stalled native circulation, is a major source of ECMO technology.

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By component, the market is divided into:

Pumps
Oxygenator
Controllers
Cannula
Accessories

On the basis of modality, the market can be segmented into:

Veno-Arterial
Veno-Venous
Arterio- Venous

Based on patient type, the industry can be categorised into:

Neonates
Paediatric
Adult

On the basis of application, the market can be distributed into:

Respiratory
Cardiac
Extracorporeal Cardiopulmonary Resuscitation (ECPR)

On the basis of region, the industry is divided into:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Market Trends

The growing geriatric population, and the number of persons suffering from chronic diseases in developing nations, are predicted to provide considerable growth possibilities for ECMO systems. The increasing healthcare expenditure by government and private agencies in order to improve healthcare facilities is adding growth to the market. The market is also benefitting from the rising survival rate of ECMO machine-assisted surgery for cardiac and respiratory patients.

The use of ECMO machines has grown in popularity throughout the years. When the heart and lungs are unable to carry out the process of blood oxygenation, an ECMO equipment supplies oxygen and eliminates carbon dioxide. Adults, infants, and children with respiratory and/or cardiac failure owing to birth abnormalities, trauma, or severe infection are treated with ECMO. The favourable reimbursement scenario, rising incidence of lung cancer, and the presence of a large number of ECMO centres are expected to boost the market for ECMO systems.

Key Market Players

The major players in the market are Medtronic PLC, LivaNova PLC, Terumo Corporation, MicroPort Scientific Corporation, and Getinge AB, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.