Albany, New York, Dec. 18, 2017 (GLOBE NEWSWIRE) — The increasing number of patients with acute cardiac and respiratory disorders will ensure a healthy future for the extracorporeal membrane oxygenation machine market, according to a recent business and commerce study by Transparency Market Research (TMR). The intelligence study has projected the demand in the global extracorporeal membrane oxygenation machine market to increment at a notable CAGR of 7.1% during the forecast period of 2017 to 2022, primarily gaining from the increasing acceptance of the new ECMO technology among clinicians, providing extend periods of support to adult patients. In addition to that, spreading application of interventional technology among children will further open new opportunities.
As per the estimations of the TMR report, the stockholders connected to the extracorporeal membrane oxygenation machine market had an opportunity worth US$266.3 mn to share from in 2017, and projects the revenue to jump up to US$376.0 mn by the end of the forecast period, 2022. Going forward, the analysts of the report have anticipated the growing prevalence of cardiovascular diseases to further aid to the demand, particularly in the developing economies.
Based on modality, the TMR report segments the global extracorporeal membrane oxygenation machine market into venoarterial ECMO, venovenous ECMO, and arteriovenous ECMO, and detects that venovenous ECMO segment is currently most profitable, providing for a demand share of 47.7% in 2017. This particular segment has been estimated to the worth US$177.3 mn by the end of 2022, substantially up from its evaluated worth of US$126.9 mn in 2017, expanding at a CAGR 6.9% during the forecast period of 2017 to 2022. The excellence of this segment can be attributed to the widespread popularity of venovenous ECMO modalities for the management of pulmonary or acute cardiac failures, as they efficiently help in providing respiratory support and technological advancements have strongly improved the clinical outcomes.
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Application-wise, the analysts of the report have classified the global extracorporeal membrane oxygenation machine market into cardiology, respiratory, and extracorporeal cardiopulmonary resuscitation. Geographically, the report evaluates the potential of the demand for ECMO machine in the region of Asia Pacific except Japan (APEJ), Europe, North America, Latin America, and the Middle East and Africa. Among these, the developed country of the U.S. is expected to maintain North America are most lucrative region, providing for a demand share of US$128.2 mn by the end of 2022, gaining traction from the growing incidences of lung cancer in the country, both among men and women as well as robust healthcare infrastructure. That being said, the developed countries of India and China have vast population base and disposable income is increasing among the urban population, urging a demand for improved medical facilities. This region provided for a demand share of 22% in the global extracorporeal membrane oxygenation machine market and is projected to expand at most prominent growth rate during the said forecast period.
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As far as the competitive landscape is concerned, the global extracorporeal membrane oxygenation machine market exhibits a open landscape wherein a handful of companies are venturing and eating maximum shares, although there is strong opportunity for new players provided they can match the quality of products and reach out to the demand locations at an affordable price. Going forward, the analysts of the report expects some of the leading players, such as Getinge AB, Medtronic Plc., LivaNova PLC, Terumo Corporation, ALung Technologies, Inc., MicroPort Scientific Corporation, Nipro Corporation, Xenios AG, and Eurosets S.r.l. to concentrate on the development of new products and expand with agreements and partnerships and maintain their stronghold over the market in a longer run.
The information presented in this review is based on a Transparency Market Research report, titled, “Extracorporeal Membrane Oxygenation Machine Market – (Modality – Venovenous ECMO, Venoarterial ECMO, and Arteriovenous ECMO; Application – Respiratory, Cardiology, and Extracorporeal Cardiopulmonary Resuscitation) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022.”
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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