Pune,7, Dec 2022: According to Maximize Market Research, the Extracorporeal Membrane Oxygenation Machine Market is expected to reach USD 828.7 Million by 2029, growing at a CAGR of 5.5%. The market price report’s recovery-based survey includes critical information on growth strategy, market dynamics, innovations, business opportunities, and the competitive environment for 2021.
Extracorporeal Membrane Oxygenation Machine Market Scope and Research Methodology
The research report makes extensive use of primary and secondary data sources. During the research process, government policy, the market environment, the competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and the technical progress in related industries are all investigated, as are market risks, opportunities, market barriers, and challenges. In order to provide the final quantitative and qualitative data, all conceivable factors influencing the markets included in this research study were considered, thoroughly examined, validated through primary research, and evaluated. The impact of inflation, economic downturns, regulatory and policy changes, and other variables is factored into the market forecast for top-level markets and sub-segments. This information is included in the report, as well as detailed inputs and analysis.
To estimate market size and analyze global market trends, bottom-up approaches were used. To obtain accurate inferences, data was collected from a large sample using both primary and secondary research methods. Surveys, questionnaire distribution, and phone interviews with industry experts, market leaders, entrepreneurs, and marketing professionals were the primary methods used. Secondary data was meticulously gathered from a carefully selected set of sources to ensure the accuracy of the conclusions. There are paid databases, industry journals, white papers, annual reports, product manufacturer and supplier releases, official databases of numerous organizations, and government websites in addition to white papers and annual reports. PESTLE analysis was used to understand various market factors, whereas SWOT analysis was used to understand the strengths and weaknesses of major corporations. As a result, the report goes into great detail about the Extracorporeal Membrane Oxygenation Market.
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Extracorporeal Membrane Oxygenation Machine Market Overview
Extracorporeal membrane oxygenation (ECMO) is a life-sustaining technology that helps people with severe respiratory failure by providing cardiac and respiratory support. Cannulas, a pump, a blender, and an oxygenator comprise the ECMO circuit, which oxygenates the blood and removes carbon dioxide via an extracorporeal gas exchange device known as a membrane oxygenator. Acute hypercapnic respiratory failure, bridge lung transplantation, primary graft malfunction post-lung transplantation, and pulmonary hypertension with right ventricular failure are all possible indications for ECMO use.
Extracorporeal Membrane Oxygenation Machine Market Dynamics
The primary Extracorporeal Membrane Oxygenation Machine market driver is the rising prevalence of cardiopulmonary illnesses and respiratory failures. According to the Centers for Disease Control and Prevention (CDC), one person in the United States dies from cardiovascular disease every 37 seconds. Furthermore, chronic obstructive pulmonary disease (COPD) was one of the leading causes of death in the United States in 2019. The increasing use of extracorporeal membrane oxygenation (ECMO) has accelerated technological advancement in these systems. Hollow pumps, oxygenators, and heparin-coated cannulas are being used in a variety of surgical applications as part of the advancement.
The reasons driving the growth of the ECMO machine market include an increase in the number of hospitals providing ECMO services as well as an increase in the number of awareness initiatives. In 2014, 6890 ECMO treatments were performed in the United States, according to the Federal Agency for Healthcare Research and Quality. The use of extracorporeal membrane oxygenation (ECMO) equipment in hospitals has since skyrocketed as a result. The Extracorporeal Life Support Organization (ELSO) reports that the number of hospitals offering ECMO treatments has increased from 108 in 2008 to 280 by 2021.
Extracorporeal Membrane Oxygenation Machine Market Regional Insights
North America dominated the global market and generated 45% of all revenue due to the rising prevalence of cardiovascular and respiratory disorders, technological advancements in ECMO technology, and increased use of ECMO systems. In February 2022, heart disease will kill 659,000 Americans, or one out of every four fatalities, predicts the Centers for Disease Control and Prevention (CDC). Additionally, the United States is home to about 805,000 heart attack victims. The demand for Extracorporeal Membrane Oxygenation (ECMO) in the region is also rising due to changes in lifestyle choices that lead to chronic diseases like cardiac and respiratory conditions as well as increased adoption of new technological products.
Extracorporeal Membrane Oxygenation Machine Market Segmentation
Extracorporeal Membrane Oxygenation Machine Market Key Competitors:
- Medtronic plc
- Livanova PLC
- Cytosorbents Corporation
- Agilent Technologies
- Siemens AG
- Terumo Corporation
- Fresenius Medical Care AG & Co. KGaA
- Microport Scientific Corporation
- Nipro Corporation
- ALung Technologies Inc.
- MAQUET Holding B.V. & Co. KG
- Medos Medizintechnik AG
- Terumo Cardiovascular Systems Corp
- XENIOS AG
- OriGen Biomedical, Inc.
- EUROSETS S.r.l.
Key questions answered in the Extracorporeal Membrane Oxygenation Machine Market are:
- What is Extracorporeal Membrane Oxygenation?
- Who are the market leaders for extracorporeal membrane oxygenation in North America?
- Who are the market leaders for Extracorporeal Membrane Oxygenation in South Korea, China, Japan, and India?
- What elements are driving the market for extracorporeal membrane oxygenation?
- In the market for extracorporeal membrane oxygenation, who held the largest market share?
- What factors are driving the Asia-Pacific Extracorporeal Membrane Oxygenation Market?
- How will the Extracorporeal Membrane Oxygenation Machine Market grow over the next few years?
- How does competition in the Extracorporeal Membrane Oxygenation industry differ in developed and emerging economies?
- Who are the market leaders in Extracorporeal Membrane Oxygenation?
- Who are the European market leaders in Extracorporeal Membrane Oxygenation?
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- Market Drivers, Challenges, Trends, Statistics, & Forecast by Revenue | 2022−2029
- Market Dynamics – Technological Growth, Future Growth, and Business Opportunities 2029
- Market Segmentation – A detailed analysis by Component, Modality, Patient, Application, and Region
- Competitive Landscape – Top Key Players and Other Prominent Vendors
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