The respiratory and cardiovascular systems for humans are regarded as one of the key components in the body. The healthcare sector has been observed to be keen on the development and deployment of solutions for respiratory care owing to the importance of the system along with frequency of causes related to the system. Some of the notable disorders related to the respiratory system include lung cancer, pneumonia, respiratory tract infections and chronic obstructive pulmonary disease (COPD) among others. Numerous devices and assemblies are utilized by healthcare facilities in order to assess and treat these disorders across various regions. These disorders are observed to either affect specific areas in the respiratory system or hamper the overall operations of the system through impact across key components in the system. Conditions like these have alerted medical researchers to develop innovative strategies in order to mitigate risks to the respiratory system of their patients. According to the severity of the disorders on specific parts or on the overall system, medical professionals across various healthcare facilities create dedicated plans of action. Extracorporeal Membrane Oxygenation (ECMO) is observed to be a notable addition to the widespread portfolio of processes used in the care provided for patients suffering from severe respiratory disorders. Global Extracorporeal Membrane Oxygenation (ECMO) devices market was estimated to be US$ 308.10 million in 2019 and is expected to reach US$ 812.09 million by 2030, growing at a CAGR of 13.02% during the forecast period (2022-2030).
Extracorporeal Membrane Oxygenation (ECMO) devices are used in medical facilities in order to help patients with the process in providing the patient’s body with oxygen and remove carbon dioxide from the body. In this procedure, the devices also provide the body with optimal levels of blood for various processes. The oxygenation process allows normal respiratory functions to happen for the patient with lower stress on the lungs. This is vital in cases related to severe lung disorders where the lungs are seen to be operating in a limited capacity. The demand for market offerings is growing due to the importance of the devices in the care provision stage along with growing demand from various medical facilities. Countries from the region of North America are observed to be notable contributors for the respiratory care sector from the development and adoption phases. Increasing investments towards strengthening the infrastructure for preventing, assessing, and mitigating risks related to various systems in the body have led to a positive outlook for the market. Market participants have been observed to target users in the region for improving their customer base and market revenue. The region has been observed to hold manufacturing and distribution of market offerings and has been a notable factor in the growth of the market. In addition to this, the demand for developed market offerings has led to the prevalence of newer market participants in other regions along with dedicated investments for product development from traditional manufacturers in these regions. The region of Asia Pacific has been observed to be a major investment area for the market from the perspective of manufacturing and development. Furthermore, companies in Asia Pacific have also undertaken collaborative initiatives for various components in the oxygenation system in order to create optimized products and devices. These efforts from companies are expected to aid the growth of the market over the forecast period. The growth of end users on the global scale along with the approval for the usage of market offerings in helping patients suffering from the novel coronavirus has been helpful for propelling the demand for devices in the market. These factors are expected to be vital for the growth of the market.
Key Findings in the Report:
- The global extracorporeal membrane oxygenation (ECMO) devices market was estimated to be US$ 308.10 million in 2019.
- The need for respiratory care has grown in recent times owing to various contributing factors for lung disorders. Along with traditional disorders, cases related to newer disorders have observed to grow over the years. The severity of these disorders on the patient has been seen to be varying. Cases with higher severity have been notable for the deployment of market offerings in an attempt to help with oxygenation processes for patients. The use of the devices is observed to facilitate the reduction of stress on the lungs of the patient.
- Demand for Extracorporeal Membrane Oxygenation (ECMO) Devices Market offerings has grown more recently owing to the application of devices provided from the market in cases of high severity due the (COVID-19). Medical facilities are advised to utilize Extracorporeal Membrane Oxygenation (ECMO) devices in assisting patients for vital lung operations for short duration in order to limit the potential for risks for the internal systems of the patient.
- North America was observed to be the significant Extracorporeal Membrane Oxygenation (ECMO) Devices Market share holder in the market for the recent scenario. The revenue generated from the region of Asia Pacific is expected to grow at the fastest growth rate over the forecast period primarily due to the increasing investments towards manufacturing and development of market offerings from companies situated in the region. In addition to this, growing focus towards collaborative initiatives for product development, production and other processes are expected to have a propulsive effect towards the growth of the market.
- Some of the players operating in the Extracorporeal Membrane Oxygenation (ECMO) devices market are ALung Technologies, Inc., ORMED Medizintechnik GmbH & Co. KG, CytoSorbents Europe GmbH, EUROSETS, LivaNova PLC (CardiacAssist, Inc), MC3 Cardiopulmonary, Medtronic, NIPRO, and Terumo Cardiovascular Systems Corporation, among others.
Extracorporeal Membrane Oxygenation (ECMO) Devices Market:
- Integrated Systems
- Heat Exchangers
- Tubing Kits
- Back-up Battery
- Integrated Sensors
By System Type
- VA ECMO
- VV ECMO
By Scope of Use
- Intensive care
- Operation Theatres
- Emergency Medicine
- Cardiac Surgery
- Acute Respiratory Distress Syndrome (ARDS) secondary to pneumonia, aspiration, severe air leak
- Refractory Septic / Cardiogenic Shock
- Myocarditis - viral, scorpion sting
- Post Arrest shock
- Meconium Aspiration
- Congenital Diaphragmatic Hernia
- Persistent Pulmonary Hypertension
- Swine Flu infection (H1N1)
By Distribution Channel
By End Users
- Research Centers
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
Company: Absolute Markets Insights
Email id: [email protected]
Contact Name: Shreyas Tanna