Extracorporeal membrane oxygenation market drivers of growth analyzed in a new research report
Extracorporeal membrane oxygenation market size is projected to experience significant growth from 2018 to 2024.
Extracorporeal membrane oxygenation market should witness significant growth due to increased occurrence of respiratory failure and cardiopulmonary disease over the last few years. Rising elderly population prone to suffer from cardiac and respiratory ailments will act as primary driver for industry growth. According to CDC 2017 data, around 10.8% of U.S. population suffers from COPD.
Technological advancements in ECMO device along with rising patient awareness about benefits delivered by extracorporeal membrane oxygenation device will expand market size. Wide ranging applications of ECMO in treating pediatric, neonate and even adult population escalate ECMO adoption rate. The growing adoption of sedentary lifestyle, unhealthy diet and rising pollution levels has accelerated prevalence of COPD and respiratory diseases, thereby fueling extracorporeal membrane oxygenation market growth. According to WHO 2016 data, increasing adoption unhealthy habits such as tobacco smoking and rising elderly population will increase number of people suffering from COPD in coming years.
Programs including, The ECMO program initiated in Poland to enhance treatment standards pertaining to respiratory failure and COPD cases will favor extracorporeal membrane oxygenation market growth. However, excessive cost associated with ECMO usage, dearth of skilled professionals and risks such as bleeding related to ECMO use should hinder growth of ECMO market.
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Based on the modality, the industry can be segmented into veno-venous, veno-arterial and arterio-venous. The veno-arterial extracorporeal oxygenation membrane (VA-ECMO) segment will witness significant growth during the forecast period, due to dual function including gas exchange and hemodynamic support provided by this type of system. Furthermore, VA-ECMO reduces cardiac work by facilitating oxygenated blood supply and decreasing cardiac oxygen consumption.
Based on the application, the industry is segmented into cardiac, respiratory and extracorporeal cardiopulmonary resuscitation. Respiratory application market dominated global extracorporeal membrane oxygenation market in 2017 due to rising prevalence and mortality due to respiratory diseases and growing patient awareness about respiratory ailments and treatment. Nearly 3 million people died in 2015 globally due to chronic obstructive pulmonary disease worldwide, as per WHO data.
Based on patient population, the market is bifurcated into infant, pediatric and adult population. Infant patient population holds major market share as ECMO treatment becomes critical for infants suffering from cardiorespiratory failure. Increasing use of ECMO system to treat adult patients suffering from respiratory and cardiopulmonary diseases will significantly drive adult patient population segment growth during the forecast timeframe.
U.S. will witness rapid growth during the forecast period due to presence of large patient pool. As per CDC 2014 data, chronic obstructive pulmonary disease is third leading cause of mortality in the country. High technology adoption, rising patient awareness and increasing per capita healthcare expenditure will drive U.S. extracorporeal membrane oxygenation market.
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Germany will exhibit considerable growth over the forecast period. Increasing number of ECMO procedures along with growing patient awareness will escalate the industry growth. Around 30% of total population in Germany is involved in tobacco smoking, thereby resulting in need for ECMO.
China extracorporeal membrane oxygenation market will grow at healthy rate due to increasing prevalence of respiratory diseases, rising geriatric population base and healthcare infrastructure development. According to U.S. Census Bureau 2015 report, elderly population (aged 65 and above) in China accounted for around 10.1% of total population.
South Africa will expand at robust growth rate in coming years due to increased prevalence of respiratory diseases along with rising awareness about advanced respiratory treatment methods. South African government initiatives to reduce respiratory disease burden and create awareness will positively impact South African extracorporeal membrane oxygenation market growth. Increased sedentary lifestyle, changes in dietary habits and rising tobacco smoking will boost the Saudi Arabia industry share.
Some of the industry players include, Medtronic, Terumo Corporation, Nipro Medical Corporation, Micro Port Scientific Corporation, Spectrum Medical, Maquet Holding, Medos Medizintechnik AG, Origen Biomedical, and Livanova. The industry players focus on strategic alliances and innovative product launch to expand their business portfolio as main strategies. In October 2016, Spectrum Medical entered into strategic partnership with Medtronic for distribution of Spectrum Medical’s Quantum Perfusion Systems including African, Central Africa, Europe and other regions.
Extracorporeal Membrane Oxygenation (ECMO) market by modality, 2013-2024 (USD Million)
• Veno-Venous
• Veno-Arterial
• Arterio-Venous
Extracorporeal Membrane Oxygenation (ECMO) market by application, 2013-2024 (USD Million)
• Cardiac
• Respiratory
• Extracorporeal cardiopulmonary resuscitation
Extracorporeal Membrane Oxygenation (ECMO) market by patient population, 2013-2024 (USD Million)
• Infant
• Pediatric
• Adult
The above information is provided for the following regions and countries:
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Spain
o Italy
• Asia Pacific
o Japan
o China
o India
o Taiwan
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East and Africa
o South Africa
o Saudi Arabia
o Kuwait
o UAE