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The Global Extra Corporeal Membrane Oxygenation (ECMO) System Market to Garner $447.55 Million by 2028

Global Extra Corporeal Membrane Oxygenation (ECMO) System Market

According to an analysis by Triton Market Research, the global extra corporeal membrane oxygenation (ECMO) system market, which was valued at $293.23 million in the year 2019, is expected to showcase a CAGR of 4.81% by 2028.

A study by Triton Market Research with the title ‘Global Extra Corporeal Membrane Oxygenation (ECMO) System Market,’ covers the Global Analysis and Forecast for 2019-2028 by Modality (Veno-arterial, Veno-venous, Other Modalities), by Application (Cardiac, Respiratory, Extracorporeal Cardiopulmonary Resuscitation), and by Geographical Region (North America, Middle East and Africa, Europe, Asia-Pacific, Latin America).

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According to the report, the global extra corporeal membrane oxygenation (ECMO) system market is anticipated to generate a revenue of $447.55 million by 2028. The market is estimated to progress at a CAGR of 4.81% over the forthcoming period (2019-2028).

An extra corporeal membrane oxygenation (ECMO) system pumps and oxygenates blood outside the body, similar to the heart-lung by-pass machine, which is used in open-heart surgery. It is used during life-threatening conditions like lung damage or shock after a severe heart attack.

The growing popularity of ECMO systems, owing to their increasing applications, and the advancements in the technology are expected to contribute to the growth of the ECMO system market. The rising number of lung transplants and the increasing awareness among surgeons are other factors driving the market growth. However, some hospitals provide ECMO systems at a high cost, which is impeding the global market growth. With the emergence of new advancements in ECMO systems, the prices are likely to shoot further. Besides, the limited lifetime of the device is also likely to add to the maintenance cost.

The extra corporeal membrane oxygenation (ECMO) system market is segmented into two parts, modality and application. The first segment, modality, includes veno-arterial, veno-venous and other modalities. The second segment, application, is trifurcated into cardiac, respiratory and extracorporeal cardiopulmonary resuscitation.

As per the geographical landscape of the report, the Asia-Pacific is anticipated to show the fastest growth in the global extra corporeal membrane oxygenation (ECMO) system market during the projected period. In APAC countries like South Korea, ECMO has been successfully used as a method for the treatment of critically ill patients. The occurrence of chronic pulmonary obstructive disease (COPD) is increasing continuously. The increasing cases of COPD in the country are fuelling the demand for the ECMO. Besides, several ECLS programs are being implemented in South Korea to spread awareness regarding the benefits of ECMO technology. All these factors are estimated to increase the regional market growth.

A few leading names in the extra corporeal membrane oxygenation (ECMO) system market are Hemovent GmbH, Abbott Laboratories, LivaNova Plc, Getinge AB, Xenios AG (Fresenius SE & Co KGaA), OriGen Biomedical Inc, Eurosets, Nipro Corporation, MicroPort Scientific Corporation, Terumo Medical Corporation, Spectrum Medical, Elsius Biomedical Inc, ALung Technologies Inc and Medtronic Plc.

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Question & Answer: Extra Corporeal Membrane Oxygenation (ECMO) System Market

Question 1: Which factors are expected to contribute to the growth of the ECMO system market?
Answer: The growing popularity of ECMO systems, owing to their increasing applications, and the advancements in the technology are expected to contribute to the growth of the ECMO system market. The rising number of lung transplants and the increasing awareness among surgeons are other factors driving the market growth.

Question 2: What factor is impeding the growth of the global extra corporeal membrane oxygenation (ECMO) system market?
Answer: Some hospitals provide ECMO systems at a high cost, which is impeding the global market growth. With the emergence of new advancements in ECMO systems, the prices are likely to shoot further. Besides, the limited lifetime of the device is also likely to add to the maintenance cost.

Question 3: How is Asia-Pacific affecting the global extra corporeal membrane oxygenation (ECMO) system market outlook?
Answer: As per the geographical landscape of the report, the Asia-Pacific is anticipated to show the fastest growth in the global extra corporeal membrane oxygenation (ECMO) system market during the projected period. In APAC countries like South Korea, ECMO has been successfully used as a method for the treatment of critically ill patients. The occurrence of chronic pulmonary obstructive disease (COPD) is increasing continuously. The increasing cases of COPD in the country are fuelling the demand for the ECMO. Besides, several ECLS programs are being implemented in South Korea to spread awareness regarding the benefits of ECMO technology. All these factors are estimated to increase the regional market growth.

Question 4: Which are a few leading names in the extra corporeal membrane oxygenation (ECMO) system market?
Answer: A few leading names in the extra corporeal membrane oxygenation (ECMO) system market are Hemovent GmbH, Abbott Laboratories, LivaNova Plc, Getinge AB, Xenios AG (Fresenius SE & Co KGaA), OriGen Biomedical Inc, Eurosets, Nipro Corporation, MicroPort Scientific Corporation, Terumo Medical Corporation, Spectrum Medical, Elsius Biomedical Inc, ALung Technologies Inc and Medtronic Plc.

Related Report:
Global Pulse Oximeter Market

The Global Pulse Oximeter Market is likely to generate $2616.70 million by the year 2028. The market is expected to progress with a CAGR of 5.57% over the projected years 2019-2028.

The growing prevalence of chronic diseases, like sleep apnea, chronic obstructive pulmonary disease (COPD), ischemic conditions, cardiac arrhythmia, diabetes, hyperlipidemia, hypertension and asthma, are primarily driving the growth of the pulse oximeter market. Also, the prevalence of obstructive sleep apnea is anticipated to rise during the forecast period. These factors are fueling the need for pulse oximeters.

The growing preference for homecare patient monitoring is another factor driving the demand for portable pulse oximeters in the forecast years. The constant monitoring of the oxygen saturation levels aids doctors in diagnosing the disease faster, and providing effective treatment quickly, thereby minimizing the healthcare costs. A portable pulse oximeter facilitates ease-of-transportation and quick monitoring in pre-hospital situations. Besides, the wide spread of the pandemic, COVID-19, has increased the use of devices to monitor the oxygen saturation levels in patients while at home. Coronavirus affects the level of oxygen in the body, and thus, there is an increased demand for the pulse oximeter market.

Triton Market Research
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This release was published on openPR.

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