ECMO Market Is Predicted To Grow Quickly Due To Increased Adoption Of ECMO Machines In Hospitals Till 2024: Grand View Research, Inc.
The 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.
Browse full research report on 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.
Browse more reports of this category by Grand View
Research: 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
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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