New York , March 25, 2024 (GLOBE NEWSWIRE) -- The global extracorporeal membrane oxygenation machine market size is projected to grow at a CAGR of over 7% from 2024 to 2036. The market is expected to garner a revenue of USD 30 billion by the end of 2036, up from a revenue of USD 18 billion in the year 2023. The market is expected to grow on the back of the growing demand for artificial hearts has led to the development of ECMO with improved clinical outcomes.
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For instance, among the noteworthy developments is the adoption of Ventricular Assist Devices (VADS) and Artificial Hearts which have helped hundreds of heart failure patients live longer. For instance, in a normal year, more than 80 artificial hearts are placed worldwide.
Extracorporeal Membrane Oxygenation Machine Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- Veno-Arterial segment to garner the highest growth
- Market in North America to grow at a significant rate
Growing Geriatric Population to Boost Market Growth
The global population is aging owing to a combination of factors including decreased fertility, increased lifespan, and the aging of big cohorts. For instance, more than 770 million individuals worldwide were 65 years of age or older in 2022, making up over 9% of the world's population. Chronic diseases such as cardiovascular disease which are more common in older or senior persons may increase the adoption of extracorporeal membrane oxygenation machines a kind of synthetic life support that maintains blood gas balance (oxygen and carbon dioxide) and blood flow is maintained, and is comparable to the device used during open cardiac surgery, the heart-lung by-pass.
Extracorporeal Membrane Oxygenation Machine Industry: Regional Overview
The global extracorporeal membrane oxygenation machine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Air Pollution to Drive the Growth in the APAC Region
The market for extracorporeal membrane oxygenation machine in the Asia Pacific region is estimated to garner the largest revenue by the end of 2036. The growth can be attributed to the growing prevalence of air pollution in the region. India has some of the worst levels of air pollution in the world, resulting from increasing vehicle emissions of dangerous pollutants, and population growth, which causes negative effects on health and lowers the quality of the air. According to the International Energy Agency, road transportation is a major cause of urban air pollution and currently contributes 12% of India's energy-related CO2 emissions. Particularly, every year, vehicles in the region produce more than 280 gigagrams (Gg) of PM2.5. Road traffic pollution poses a major health risk to those who are constantly exposed to it since it is thought that these pollutants have a direct impact on the cardiovascular and respiratory systems which are linked to higher rates of illness, death, and reduced lung function. This is expected to drive the demand for extracorporeal membrane oxygenation machines in the region since they can assist someone whose heart and lungs aren't working properly.
Increasing Burden of Obesity to Drive the Growth in the North American Region
The North America extracorporeal membrane oxygenation machine market is estimated to garner the largest revenue by the end of 2036. The growth can be attributed to the increasing prevalence of obesity. An increase in food intake or a decrease in physical activity can lead to obesity, which is a serious public health issue in the United States. For instance, in more than 20 US states, over 30% of adults currently suffer from obesity. Over the past 20 years, the consumption of highly processed junk food by US adults has increased across almost all demographic groups, which is linked to higher body mass index, less successful weight loss maintenance, and weight gain. Overall, more than 85% of US adults and over 91% of US youngsters reported consuming junk food on any given day. Obesity can alter cholesterol levels and is a direct contributor to incident cardiovascular risk factors such as dyslipidemia and type 2 diabetes. Both directly and indirectly, obesity can raise CVD morbidity and mortality, which are, more often than not, listed as the primary cause of death in the US, surpassing even cancer. According to estimates, the most prevalent kind of heart disease in the US is coronary artery disease, which affects over 20 million adult Americans. This may create a huge demand for extracorporeal membrane oxygenation machines in the region.
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Extracorporeal Membrane Oxygenation Machine Market Segmentation by Type
- Veno- Arterial
- Veno-Venous
The veno-arterial segment is anticipated to hold the largest revenue by the end of 2036. The growth can be attributed to the growing number of heart transplants. Cardiogenic shock is a rare but potentially fatal syndrome in which the heart fails to pump enough blood to meet the body's demands, and can also accompany acute rejection of a transplanted heart. Therefore, for patients experiencing cardiogenic shock, veno-arterial extracorporeal membrane oxygenation is a life-saving intervention, which offers a successful therapy for severe PGD following heart transplantation, which may aid with the recovery of graft function. For instance, globally, there was more than 1 heart transplant performed for every million people in 2022.
Extracorporeal Membrane Oxygenation Machine Market Segmentation by End-User
- Hospitals
- Speciality Clinics
- Emergency Medical Services
The hospital segment is anticipated to hold the largest revenue by the end of 2036. The growth can be attributed to the growing spending in the healthcare industry. This has led to an increase in investments by hospitals in advanced medical technologies such as extracorporeal membrane oxygenation machines which provide support to people who are suffering from respiratory and cardiovascular diseases. According to estimates, in 2021, U.S. health spending climbed by around 2% to reach over USD 4 trillion. In addition, governments across the globe are implementing several initiatives to improve access to critical care services in hospitals.
A few of the well-known market leaders in the global extracorporeal membrane oxygenation machine market that are profiled by Research Nester are Medtronic plc, Getinge AB, LivaNova PLC, Terumo Corporation, Xenios AG, Microport Scientific Corporation, Nipro Corporation, ALung Technologies, Inc., Sorin Group, Eurosets S.r.l., and other key market players.
Recent Development in the Market
- Getinge AB announced the expansion of its surgical suite offerings by acquiring ArthroCare to enhance Getinge's presence in the growing minimally invasive surgery market and add valuable complementary products to its portfolio.
- Getinge AB announced the launch of UVD Robots UVC disinfection robot, to automate and streamline disinfection procedures in healthcare facilities and to reduce the risk of healthcare-associated infections by utilizing targeted ultraviolet (UVC) light technology.
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