Extracorporeal membrane oxygenation machines are developed medical devices that provide prolonged cardiac and respiratory support to individuals whose hearts and lungs cannot function normally. The Centers for Disease Control and Prevention (CDC) state that an individual dies of heart disease in the United States every 37 seconds. ECMO has become one of the best ways to help adults and children with severe heart and lung problems. Most of the time, these machines are used when all other treatments fail to help people whose lungs cannot give their bodies enough oxygen or get rid of carbon dioxide.
Unhealthy lifestyle habits like poor eating habits, inadequate physical activity, regular use of tobacco products, and smoking are significant contributors to cardiovascular disease. In addition, an increase in tobacco use and smoking can negatively affect lung health, including respiratory failure and chronic diseases. Increases in the elderly population and the prevalence of heart disease drive demand for extracorporeal membrane oxygenation (ECMO) devices. Age is a significant risk factor for coronary heart disease, a major global killer. In addition, heart attacks and strokes account for 80% of deaths from cardiovascular disease. Rising rates of cardiovascular and respiratory diseases worldwide would boost demand for ECMO devices.
The survival rate of ECMO patients depends on the patient's age and the condition that brought them to the hospital in the top place. Patients with reversible respiratory failure are candidates for VV-ECMO. It also includes people with severe acute respiratory distress syndrome (ADRS), primary graft dysfunction after a lung transplant, or lung trauma. When VV-ECMO is used to treat people with respiratory failure, they have a better chance of survival. ECMO pumps can support reversible heart disorders. An upsurge in the number of people who survive with ECMO is expected to give the ECMO market an excellent chance to grow.
North America is the most significant shareholder in the global extracorporeal membrane oxygenation machine market and is expected to grow at a CAGR of 5.08% during the forecast period. Administration support for quality healthcare, high purchasing power parity, and the increasing prevalence of diseases such as chronic obstructive pulmonary disease in the United States and Canada all contribute to the growth of this market in the region. Increasing innovation in healthcare technologies, a decline in healthcare expenditures, and a rise in demand for ECMO devices in hospitals are the factors that contribute to the increase of extracorporeal membrane oxygenation usage. Government and non-government organizations are collaborating to make advanced medical technologies accessible to healthcare professionals nationwide.
Europe is expected to grow at a CAGR of 4.78%, generating USD 105.04 million during the forecast period. One of the most developed continents in the globe is Europe. A few main factors for this region's expanding market share include rising public and private investment in R&D, rising demand for healthcare devices, and rising prevalence of chronic diseases like respiratory failure and cardiopulmonary diseases. The development of the healthcare economy is aided by many hospitals and pharmaceutical and medical device companies in Germany. German state and federal governments launched programs like the Excellence Initiative to advance the region's research and development efforts and raise the standard of research institutes and other organizations involved in creating cutting-edge medical products.
The Asia-Pacific extracorporeal membrane oxygenation market is anticipated to expand at the highest rate during the forecast period. To improve healthcare facilities, the government and private organizations have increased healthcare expenditures, which is a significant factor in this region's growth. Economic growth in countries such as Japan, India, and China, as well as increasing government initiatives about developing healthcare infrastructure and reimbursement policies, are anticipated to stimulate market expansion further. The Asia-Pacific region's large population and low per capita income led to high demand for affordable treatment options.
The global extracorporeal membrane oxygenation machine market’s major key players are Medtronic plc, Sorin Group, Terumo Cardiovascular Systems Corporation, MAQUET Holding B.V. & Co. KG, Nipro Medical Corporation, Inspira Ltd., Microport Scientific Corporation, Getinge Group, and LivaNova.