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Extra corporeal membrane oxygenation market is for the patient that are suffering from both the heart failure and lung failure which acts as a cardiac and respiratory support. An ECMO machine works as a bypass for the heart and lungs which purifies the blood outside the human body. The global extra corporeal membrane oxygenation market is expected to register a CAGR of 3.6% during the forecast period, 2018 to 2023. North America dominates the market due to the favorable reimbursement scenario and rising incidence of lung cancer in that region.
Increasing incidences of cardiac disorders
Cardiovascular disease are the important cause of the death globally and many people die annually from the cardiovascular diseases than any other cause. According to the WHO 17.7 million people died from the cardiovascular disease which is around 31% of all global deaths and 7.4 million were due to coronary heart disease. These cardiovascular disease are rising due to the unhealthy diet, physical inactivity, tobacco use and excess use of alcohol.
In addition, technological advancement, rising incidence of the chronic obtrusive pulmonary disease COPD and increasing number of the cardiac surgeries are fuelling the growth of Global ECMO System Market.
Risk Associated with ECMO Treatment
The ECMO procedure is used to assist the transition from the cardiopulmonary bypass ventilation after heart surgery. There are many risks associated with ECMO machine which are bleeding with the skull and the risk of bleeding is increased if a surgical operation is required as the part of the treatment. Stroke, arteries or veins are being damaged during the ECMO procedure and infection.
In addition, high cost of the ECMO procedure restrict it to be available to some patient which can afford it and presence of alternative techniques other than ECMO are hindering the growth of Global ECMO system Market.
North America to Dominate the Market
The Global ECMO System market is segmented by application of ECMO in various filed such as Cardiac, Respiratory and Extracorporeal Cardiopulmonary Resuscitation. Further, it is also segmented by the type of modality such as VenoArterial, VenoVenous and ArterioVenous. By geography it is segmented into North America, Europe, AsiaPacific, the Middle East and Africa and South America. North America dominates the market due to the favorable reimbursement scenario and rising incidence of lung cancer in that region.
Key Developments in the Market
October, 2017: LivaNova Receives FDA Approvals for SenTiva Device and NextGeneration Vagus Nerve Stimulation VNS Therapy Programming System for Treatment of Epilepsy.
July, 2017: Castor Branched Aortic StentGraft System receives approval from China Food and Drug Administration CFDA on 11 July 2017.
Key Players: MEDTRONIC, INC., NIPRO, TERUMO CARDIOVASCULAR SYSTEM CORPORATION, ALUNG TECHNOLOGIES INC, LIVANOVA PLC and MICROPORT SCIENTIFIC CORPORATION
Reasons to purchase this report
Current and future Global ECMO System Market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter's five forces analysis
The treatment type that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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