Extracorporeal Membrane Oxygenation Machine Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Modality (Veno-arterial, Veno-Venous, Arterial-venous.); Application (Cardiac, Respiratory, Extracorporeal cardiopulmonary resuscitation (ECPR)); Component (Pumps, Oxygenators, Controllers, Cannula, Accessories); End-user (Hospitals & Clinics, Ambulatory Surgery centers, and others).
ECMO Machine Market is anticipated to display a CAGR of around 5% over the forecast period (2021-2027). Moreover, according to the World Health Organization The increase in the number of Cardiovascular surgeries, as well as the rising incidences of Heart and Lung diseases such as coronary artery diseases (CAD) and cardiac failure or severe acute respiratory distress syndrome (ARDS), are expected to drive the market for extracorporeal membrane oxygenation machine market in the coming years. according to WHO, Cardiovascular diseases (CVDs) are the leading cause of death worldwide. Furthermore, around 17.9 million people died because of CVDs in 2019, and 85% of these deaths were due to Heart attack. In addition, the growing geriatric elderly population in developing countries coupled with the increase in the prevalence of chronic inflammatory lung diseases is further expected to create the demand the ECMO machine market. Moreover, the adoption of minimally invasive surgeries across geographies is another crucial factor driving the market.
Insights Presented in the Report
“Amongst modality, Arterial-venous segment held significant market share in 2020”
Based on the modality, the market bifurcated into veno-arterial, veno-venous, arterial-venous. Among these segments Arterial-venous (VA-ECMO) is projected to attain the largest market share in 2020 and expected to increase with a healthy CAGR in forecast period. The use of Arterial-venous (VA-ECMO) promotes gas exchange, especially the removal of carbon dioxide, by pumping blood into the circulatory system using the patient’s arterial pressure.
Arterial-Venous provides removal of Carbon dioxide (ECCO2 R) from the body, by using patients own Arterial pressure to pump the blood. Furthermore, advantages linked with this segment area such as better medical evaluation, and effective dynamic range are contributing to its market expansion. Using ECMO machines, various steps are included in the treatment process, such as surgeries, post-operative follow-ups, and the current condition of the patient’s heart & lungs. Thus, due to the rising demand for early diagnosis and effective treatment, is further contributing to the category’s growth. ECMO’s accuracy, and speed encourages its adoption, and it is expected to grow in popularity in the future.
“Amongst Application, Respiratory acquires largest market share”
Based on the application, the market is segmented into cardiac, respiratory, and extracorporeal cardiopulmonary resuscitation (ECPR). Of these three, chronic respiratory diseases acquired the largest share of the market in 2020. The growth of the segment is mainly due to the rising prevalence of chronic diseases, a number of cardiac surgeries entwined with the growing aging population around the world, which is further expected to fuel the growth of ECMO machines.
According to data published by the Extracorporeal Life Support Organization (ELSO), in 2015, over 2,600 patients in the U.S. with respiratory diseases received ECMO therapy. Moreover, ECMO has been used on 151,683 patients through 2020, including 30,743 children, 45,205 neonates, and 75,735 adults. Furthermore, rising alcohol consumption and smoking coupled with a sedentary lifestyle are growing the worldwide burden of cardiac and respiration illnesses in adults.
“Amongst End-User, Hospitals & Clinics acquires largest market share”
Based on end-user, the market is segmented into hospitals & clinics, ambulatory surgery centers, and others. Among these segments, ECMO machine market is in high demand in hospitals & Clinics because it provides advanced tools to orthopedic surgeons to improve visualization of complex cases, improve medical care efficiency, reduce time and healthcare costs, improve data management, and many other benefits. In addition to this, a rise in the number of healthcare facilities across countries coupled with the surging investment in the research and development by the hospitals are resulting in the growth of the extracorporeal membrane oxygenation machine market. Furthermore, the government across countries are investing in the healthcare industry for advancements and technological upgradation. Moreover, rising patient footfall in hospitals owing to ease of accessibility to the majority of healthcare services in one place is likely to boost the segment growth.
“North America will Dominate the Market During the Forecast Period”
For a better understanding of the market adoption of ECMO machines, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), and Rest of World. In 2020, the North American region held the highest market share in the global ECMO Machine market.
Some of the major players operating in the market are Fresenius Medical Care AG & Co. KGaA, Getinge Group, Medtronic plc, Terumo Cardiovascular Systems Corporation, Nipro Corporation, Xenios AG, Alung Technologies, Inc., Livanova plc, Eurosets S.R.L., Abiomed.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Extracorporeal Membrane Oxygenation (ECMO) Machine Market|
|2.2.||Research Methodology of the Extracorporeal Membrane Oxygenation (ECMO) Machine Market|
|2.5.||Main Objective of the Extracorporeal Membrane Oxygenation (ECMO) Machine Market Study|
|5||EXTRACORPOREAL MEMBRANE OXYGENATION (ECMO) MACHINE MARKET COVID-19 IMPACT|
|6||EXTRACORPOREAL MEMBRANE OXYGENATION (ECMO) MACHINE MARKET REVENUE (USD BN), 2019-2027F|
|8.3.||Extracorporeal cardiopulmonary resuscitation (ECPR)|
|10.1.||Hospitals & Clinics|
|10.2.||Ambulatory Surgery centres|
|11.1.3.||Rest of North America|
|11.2.6.||Rest of Europe|
|11.3.6.||Rest of Asia-Pacific|
|11.4.||Rest of World|
|13||EXTRACORPOREAL MEMBRANE OXYGENATION (ECMO) MACHINE MARKET OPPORTUNITIES|
|14||EXTRACORPOREAL MEMBRANE OXYGENATION (ECMO) MACHINE MARKET TRENDS|
|15||LEGAL & REGULATORY FRAMEWORK|
|16.1.||Demand Side Analysis|
|16.2.||Supply Side Analysis|
|17.1.1.||Porter’s Five Forces Analysis|
|18.1.||Fresenius Medical Care AG & Co. KGaA|
|18.4.||Terumo Cardiovascular Systems Corporation|
|18.7.||Alung Technologies, Inc.|
Analyzing the historical market, estimation of the current market, and forecasting the future of the ECMO Machine market were the three major steps undertaken to create and analyze the demand and sales of ECMO machines across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the ECMO machine through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the ECMO machine, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are modality, component, application, and end-user. Further regional level analyses were conducted to evaluate the overall demand of ECMO machines in a global context.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as the growing demand for ECMO machines like the rising geriatric population. Historical trends and their year-on-year impact on the market size and share were analyzed. Demand and the supply-side scenario were also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the market, and market shares of the segments and company. All the required percentage split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and sub-segments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the demand for ECMO Machine across the major regions globally
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the ECMO machine market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the ECMO machine market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of modality, component, application, and end-user.
The main objective of the ECMO Machine Market Study
The current & future market trends of the ECMO Machine Market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of ECMO Machine in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments of the industry
- Segments in the study include modality, component, application, and end-user.
- Defined analysis of the regulatory framework for the ECMO Machine industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors about the industry
- Analyze the current and forecast market size of the ECMO Machine across the globe. Major regions analyzed in the report include North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific); and Rest of World. Define and analyze the competitive landscape of the ECMO Machine sector and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry