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(MoneyNewsWire.Net, March 27, 2018 ) The global extracorporeal membrane oxygenation (ECMO) machine market is expected to reach USD 305.3 Million by 2021 from USD 247.2 Million in 2016, at a CAGR of 4.3%.
The global market is segmented on the basis of modality, application, and region. By modality, the market is segmented into venoarterial (VA), venovenous (VV), and arteriovenous (AV). The venovenous (VV) segment is accounted for the largest share of the market in 2016. The large share of this segment is mainly attributed to the high incidence of respiratory failure, rising lung transplants, increasing incidence of COPD, and technological advancements. The arteriovenous (AV) segment is projected to grow at the highest CAGR in the forecast period.
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Based on application, the market is segmented into respiratory, cardiac, and extracorporeal cardiopulmonary resuscitation (ECPR). The respiratory segment is estimated to grow at the highest CAGR in the forecast period, due to factors such as the rising incidence of respiratory failure, lung cancer, and lung transplants, growing ECMO centers, and the increasing adoption of ECMO in hospitals.
On the basis of region, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America accounted for the largest share of the global market, followed by Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific market is expected to grow at the highest CAGR and serve as a revenue pocket for companies offering ECMO systems. Moreover, the growth is attributed to factors such as growing cardiovascular and respiratory diseases, rising adoption of ECMO as a bridge to lung transplantation, growing number of ECMO centers, conferences & training programs to increase awareness, and technological advancements.
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A majority of the leading players in the market is focusing on approvals, product launches, agreements, partnerships, expansions, and acquisitions to expand their product portfolios and customer bases, enhance their sales channels, and increase their global presence.
In 2015, the market was dominated by Getinge Group (Sweden), Medtronic plc (Ireland), and LivaNova PLC (U.K.). The other players in the market are XENIOS AG (Germany), Terumo Corporation (Japan), MicroPort Scientific Corporation (China), NIPRO Corporation (Japan), OriGen Biomedical, Inc. (U.S.), ALung Technologies, Inc. (Germany), and EUROSETS S.r.l. (Italy).
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