Extracorporeal Membrane Oxygenation System Market to Surpass US$ 476.8 Mn by 2030

Global Extracorporeal Membrane Oxygenation System Market, by Modality (Arteriovenous, Venoarteial, and Venovenous) by Application (Extracorporeal cardiopulmonary resuscitation, Cardiac, and Respiratory), by Age Group (Neonatal, Pediatric, and Adults), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 316.5 Million in 2022 and is expected to exhibit a CAGR of 5.3% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

Increased adoption of inorganic strategies such as acquisitions is expected to drive market growth over the forecast period. For instance, in September 2021, Xenios AG, a fresenius medical care company, had received approval from the National Medical Products Administration (NMPA) in China for the Xenios console and patient kits for Extracorporeal Membrane Oxygenation (ECMO) therapy. The approval for two patient kits in China follows NMPA’s approval of the Xenios console in December 2020. As a result, a complete Xenios system is now permitted for ECMO therapy in China.

Global Extracorporeal Membrane Oxygenation System Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a positive impact on the extracorporeal membrane oxygenation system market, as the pneumonia associated with novel coronavirus disease 2019 (COVID-19 or nCoV-2) can lead to respiratory failure with profound hypoxemia requiring endotracheal intubation and mechanical ventilation. Myocardial injury associated with COVID-19 may lead to cardiogenic shock unresponsive to medical management. In patients not responding to optimal conventional mechanical ventilation or pharmacologic intervention, extracorporeal membrane oxygenation (ECMO), may be employed with appropriate resources (equipment and personnel)

Thus, the COVID-19 pandemic had a positive impact on the extracorporeal membrane oxygenation system market

Global Extracorporeal Membrane Oxygenation System Market: Key Developments

In October 2021, MicroPort Surgical, an international medical devices company, acquired a 100% equity stake in Germany-based medical device manufacturer Hemovent. Hemovent specializes in development of Extracorporeal Life Support (ECLS) technology, often known as Extracorporeal Membrane Oxygenation (ECMO).

In February 2020, the U.S. Food and Drug Administration had cleared the Novalung extracorporeal membrane oxygenation (ECMO) system for the treatment of acute respiratory or cardiopulmonary failure.

Browse 36 Market Data Tables and 32 Figures spread through 170 Pages and in-depth TOC on “Global Extracorporeal Membrane Oxygenation System Market”-  Forecast to 2030, Global Extracorporeal Membrane Oxygenation System Market, by Modality (Arteriovenous, Venoarteial, and Venovenous) by Application (Extracorporeal cardiopulmonary resuscitation, Cardiac, and Respiratory), by Age Group (Neonatal, Pediatric, and Adults), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights related to extracorporeal membrane oxygenation system market, click the link below:

https://www.coherentmarketinsights.com/market-insight/extracorporeal-membrane-oxygenation-market-947

Moreover, increasing cardiovascular diseases (CVDs) are expected to drive market growth over the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC), 17.9 million people die each year from CVDs, an estimated 32% of all deaths worldwide.

Key Takeaways of the Global Extracorporeal Membrane Oxygenation System Market:

• Global extracorporeal membrane oxygenation system market is expected to exhibit a CAGR of 5.3% during the forecast period due to education and training programs held by organizations to create awareness among population. For instance, Extracorporeal Life Support Organization (ELSO) is involved in providing support to institutions delivering extracorporeal life support through continuing education and maintenance of a comprehensive registry of patient data. For instance, ELSO organized 7th EuroELSO Congress in May 2018, aiming to provide education about adult, pediatric and perfusion related to extracorporeal therapies.
• Among age groups, the Neonatal segment is estimated to hold a dominant position in the global extracorporeal membrane oxygenation system market over the forecast period, owing to the increasing incidence of congenital heart disease. For instance, according to the Centers for Disease Control and Prevention (CDC), congenital heart defects (CHDs) affect nearly 40,000 births per year in the U.S.
• On the basis of regions, North America is estimated to account for the largest market share in the global extracorporeal membrane oxygenation system market over the forecast period, owing to increasing prevalence of respiratory For instance, according to the Asthma and Allergy Foundation of America, approximately 25 million people in the U.S. have asthma.
• Major players operating in the global extracorporeal membrane oxygenation system market include Medtronic, Getinge AB, LivaNova PLC, Terumo Corporation, XENIOS AG, OriGen Biomedical, EUROSETS NIPRO, and MicroPort Scientific Corporation