Global Extracorporeal Membrane Oxygenation System Market to Surpass US$ 375.1 Million by 2026

Published On : May 23, 2018

The Global Extracorporeal Membrane Oxygenation System Market, by Modality (Arteriovenous, Venoarterial and Venovenous), by Application (Extracorporeal Cardiopulmonary Resuscitation, Cardiac and Respiratory), by Age Group (Neonatal, Pediatric and Adult) was valued US$ 248.2 million in 2017 and is projected to exhibit a CAGR of 5.2% over the forecast period (2018 – 2026) as highlighted in a new report published by Coherent Market Insights.

Extra Corporeal Membrane Oxygenation (ECMO) has remarkably progressed over the recent years. It has become inevitable tool in the care of adults and children with severe cardiac and pulmonary dysfunction. Cardiovascular disease is the leading cause of deaths, globally. According to World health Organization (WHO), the total number of deaths due to cardiovascular disease was around 14.4 million in 1990, which increased to 17.7 million in 2015. Increasing adaptation of extracorporeal membrane oxygenation system coupled with rising number of patients is factor driving growth of the ECMO system Market. According to the Extracorporeal Life Support Organization (ESLO) registry, in 2014, around 5,000 hospital cases used ECMO. The current shortcoming such as hemorrhage at the site of surgery or at cannula due to heparinization can be targeted by the manufacturers to meet the unmet needs.

Browse 36 Market Data Tables and 32 Figures spread through 170 Pages and in-depth TOC on "Extracorporeal Membrane Oxygenation System Market, by Modality (Arteriovenous, Venoarterial and Venovenous), by Application (Extracorporeal Cardiopulmonary Resuscitation, Cardiac and Respiratory), by Age Group (Neonatal, Pediatric and Adult) - Global Forecast to 2026"

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

Manufacturers of extracorporeal membrane oxygenation system are focusing on continuous evolution of technologically and expanding geographically by approval from regulatory bodies. In 2015, ALung technologies, Inc. launched next generation Hemolung CR4 controller, a part of Hemolung Respiratory Assist System, which provides minimally invasive extracorporeal CO2 removal as an alternative or supplement to mechanical ventilation for patients suffering from acute respiratory failure. For instance, in April 2017, ALung Technologies, Inc., received U.S. Food and Drug Administration (FDA) approval for Hemolung, Respiratory Assist System, for treatment of severe COPD in adults. The approval will initiate ALung’s VENT-AVOID Trial of extracorporeal carbon dioxide removal (ECCO2R) for treating patients with COPD exacerbations.

The education and training programs held by organizations are expected to create awareness among population. For instance, Extracorporeal Life Support Organization (ELSO) are 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 is organizing 7th EuroELSO Congress on ECMO-ELCS in May 2018, aiming to provide education about adult, pediatric and perfusion related to extracorporeal therapies. Moreover, in July 2018, Asia Pacific ELSO is conducting adult ECMO training course in Queen Mary Hospital in Hong Kong. Moreover, policies such as Premera covers the medical insurance for the use of ECMO in adults, which will also help in growth of ECMO system market.

Key takeaways of the Extracorporeal Membrane Oxygenation System Market:

  • The global extracorporeal membrane oxygenation system market is expected to expand at a CAGR of 5.2% during the forecast period (2018 – 2026), owing to presence of untapped and highly lucrative market especially in Asia Pacific, Latin America, Middle East, and Africa.
  • Efficiency and reliability of venovenous ECMO is expected to make venovenous ECMO a dominant segment in modality segment
  • In the segment by application, respiratory segment will hold larger share attributed by high incidence of patience with respiratory disorder
  • Neonatal segment is subjected to experience growth due to increasing incidence of congenital heart disease
  • North America hold dominant position in ECMO system market, owing to its well-developed infrastructure and better reimbursement policies

Some of the major players involved in global extracorporeal membrane oxygenation system market include Medtronic Plc., Getinge Group, LivaNova Plc., Terumo Corporation, Xenios AG, Microsoft Scientific Co., Origen Biomedical, Eurosets S.R.L., Nipro Corporation, and Alung technologies Inc.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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