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Extracorporeal Membrane Oxygenation Market Future Challenges and Industry Growth Outlook by 2020-2025

Author : Ronak Bora | Published Date : 2020-09-11 

Extracorporeal Membrane Oxygenation Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Extracorporeal membrane oxygenation (ECMO), which is typically used during heart or lung surgery, has widely been used in recent months as a last resort for recovery from COVID-19. Many companies around the world have been making collaborative efforts to boost the production of ECMO equipment. In July 2020, CVD Materials Corporation, Keyence Corporation, and Dymax Corporation of America had collaborated to accelerate the development of c-VACNT ECMO platform.

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It is estimated that global extracorporeal membrane oxygenation market size will exceed an annual valuation of US$370 million by 2025. The sustained nature of the pandemic and subsequent rise in ECMO demand will undeniably bolster the industry outlook. Described below are a few additional trends driving ECMO demand in the near future.

Non-communicable diseases such as chronic respiratory diseases and cardiovascular disorders are among the major causes of mortality around the world. The WHO reports that chronic obstructive pulmonary disease (COPD) affects around 200 million people annually.

Consequently, widespread adoption of ECMO in pulmonary procedures such as lung transplant and growing awareness about the technology among patients and hospitals will certainly provide market players with promising opportunities in the future.

Extracorporeal membrane oxygenation is commonly used in respiratory, cardiac, and extracorporeal cardiopulmonary resuscitation applications. In 2018, respiratory application segment was estimated to be worth more than US$175 million.

The adoption of ECMO across respiratory applications has gained momentum over the past decade, with a growing occurrence of respiratory failure, lung cancer, asthma, and other pulmonary diseases. Growing awareness regarding ECMO technology across emerging economics is likely to promote its adoption in the upcoming years.

Considering the modality, veno-venous ECMO market was valued at more than US$105 million in 2018. Veno-venous ECMO procedure has gained wide popularity across the globe after its successful application during the treatment of H1N1 epidemic.

The technique provides a complete respiratory support with a lower recirculation rate and fewer complications. The rising incidence of acute respiratory diseases worldwide is anticipated to boost the adoption of veno-venous ECMO.

Extracorporeal membrane oxygenation industry share from the adult patient population segment is projected to grow at a CAGR of 4.6% through 2025. According to the WHO, mortality rate is up to ten times higher in people aged 60 or more, compared to those aged between 15 and 59.

Also, tuberculosis is among the leading causes of death among adults. A high occurrence of numerous respiratory and cardiac health problems among the adult population due to busier lifestyles and inadequate physical activity, especially in developing regions, will bolster overall ECMO industry outlook. 

UK ECMO market size was estimated to be worth more than US$15 million in 2018. Official records show that respiratory disorders are the third leading cause of death across the country. Additionally, UK’s economic burden of all pulmonary disorders is about US$12 billion per year.

In 2018, Canada captured more than 15% revenue share of North America ECMO industry. The regional growth will be driven by an advanced healthcare infrastructure, the presence of skilled professionals, and a massive occurrence of cardiac and respiratory health problems.

High costs, lack of skilled medical professionals, and high risk of complications may affect ECMO industry forecast to some extent. However, the growing burden of cardiovascular diseases worldwide and ongoing efforts to speed up patient recovery from COVID-19 will foster the business growth in the near future. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/extracorporeal-membrane-oxygenation-market

Partial Chapter of the Table of Content 

Chapter 4. Extracorporeal Membrane Oxygenation Market, By Modality

4.1. Key segment trends

4.2. Venoarterial (VA)

4.2.1. Market size, by region, 2014 - 2025

4.3. Veno-venous (VV)

4.3.1. Market size, by region, 2014 - 2025

4.4. Arteriovenous (AV)

4.4.1. Market size, by region, 2014 - 2025

Chapter 5. Extracorporeal Membrane Oxygenation Market, By Application

5.1. Key segment trends

5.2. Cardiac diseases

5.2.1. Market size, by region, 2014 - 2025

5.3. Respiratory diseases

5.3.1. Market size, by region, 2014 - 2025

5.4. Extracorporeal cardiopulmonary resuscitation (ECPR)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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