Seattle, July 12, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global extracorporeal membrane oxygenation system market 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).
Key Trends and Analysis of the Global Extracorporeal Membrane Oxygenation System Market:
Research institutes and hospitals are taking initiatives to provide extracorporeal membrane oxygenation (ECMO) services, which is expected to drive market growth over the forecast period. For instance, in May 2022, Yashoda Hospitals, one of the most well-known hospitals groups in Hyderabad, India, and Calcutta Medical Research Institute (CMRI), a multispecialty hospital in Kolkata, India, entered into a collaboration to work together in providing heart and lung transplantation services, ECMO, and thoracic surgeries services.
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Key Market Takeaways:
Global extracorporeal membrane oxygenation system market is expected to exhibit a CAGR of 5.3% during the forecast period due to increasing establishments of ECMO facilities in hospitals. For instance, in August 2021, Chief Minister of Odisha, India, Naveen Patnaik, inaugurated nine extracorporeal membrane oxygenation (ECMO) machines, which support the lungs or heart of critically ill patients and allow the organs to recover, in the government-run SCB Medical College Hospital, Cuttack, Odisha, India
Among modalities, the Venovenous segment is expected to dominate the segment growth over the forecast period, owing to increased product launches. For instance, in October 2022, Getinge AB, launched the Rotaflow II extracorporeal life support system. Getinge’s Rotaflow II Extracorporeal Life Support (ECLS) System, together with the Permanent Life Support (PLS) Set, offers up to 14 days of cardiopulmonary support in a compact, portable, safe and reliable manner. It can be used for both veno-arterial (VA) and veno-venous (VV) extracorporeal membrane oxygenation (ECMO).
On the basis of application, the Respiratory segment is expected to dominate the segment growth over the forecast period, owing to increasing prevalence of respiratory disorders. For instance, according to the data provided by the World Health Organization, in May 2022, chronic obstructive pulmonary disease (COPD) was the third leading cause of death worldwide, causing 3.23 million deaths in 2019.
Competitive Landscape:
Key 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
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Market Segmentation:
- Global Extracorporeal Membrane Oxygenation System Market, By Modality:
- Arteriovenous
- Venoarteial
- Venovenous
- Global Extracorporeal Membrane Oxygenation System Market, By Application:
- Extracorporeal cardiopulmonary resuscitation
- Cardiac
- Respiratory
- Global Extracorporeal Membrane Oxygenation System Market, By Age Group:
- Neonatal
- Pediatric
- Adults
- Global Extracorporeal Membrane Oxygenation System Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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