New York, According to a new market research report published by Global Insight Services “Extracorporeal Membrane Oxygenation (ECMO) Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Extracorporeal Membrane Oxygenation (ECMO) is a life support technique that provides prolonged cardiac and respiratory support to patients whose hearts and lungs are unable to function adequately on their own. ECMO is typically used as a last resort for patients who are critically ill and have failed to respond to conventional medical treatment. ECMO is a complex procedure that requires the expertise of a multidisciplinary team of doctors, nurses, and other health care professionals. ECMO is associated with a number of risks, including bleeding, infection, and blood clots. However, when used as a last resort for patients with failing hearts and lungs, ECMO can be lifesaving.
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Key Trends
The key trends in ECMO technology are miniaturization, portability, and automation.
Miniaturization: ECMO technology is becoming increasingly miniaturized, making it more portable and easier to use. This trend is driven by advances in engineering and manufacturing, as well as the increasing demand for ECMO in resource-limited settings.
Portability: ECMO technology is becoming increasingly portable, making it more accessible to patients in remote and resource-limited settings. This trend is driven by the miniaturization of ECMO technology, as well as advances in transportation and logistics.
Automation: ECMO technology is becoming increasingly automated, making it easier to use and more reliable. This trend is driven by advances in engineering and manufacturing, as well as the increasing demand for ECMO in resource-limited settings.
Key Drivers
There are several key drivers of the Extracorporeal Membrane Oxygenation (ECMO) market. First, the number of patients suffering from respiratory failure or cardiac failure has been increasing in recent years. This is due to the aging population and the increasing prevalence of chronic diseases such as obesity and diabetes. As a result, there is a growing demand for ECMO therapy.
Second, the development of new and improved ECMO devices has made the therapy more effective and safer. This has led to a increase in the number of hospitals and clinics offering ECMO therapy.
Third, the rising cost of healthcare is another key driver of the ECMO market. The high cost of ECMO therapy is a major barrier to its widespread adoption. However, the cost of ECMO devices and the cost of ECMO therapy have been decreasing in recent years. This is expected to continue in the future, making ECMO more affordable.
Fourth, the increasing awareness of ECMO therapy is another driver of the market. In the past, ECMO was not well known and was used only in a few cases. However, the increasing number of media reports and scientific publications about ECMO therapy has raised awareness of the therapy and its potential benefits.
Market Segments
The Extracorporeal Membrane Oxygenation (ECMO) Market is segmented by component, modality, patient type, and region. By component, the market is divided into pumps, oxygenator, controllers, cannula, and accessories. Based on modality, it is bifurcated into Veno-Arterial, Veno-Venous, and Arterio-Venous. On the basis of patient type, it is classified into neonates, pediatric, and adult. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Extracorporeal Membrane Oxygenation (ECMO) Market includes players such as Medtronic plc, Sorin Group, Terumo Cardiovascular Systems Corporation, MAQUET Holding B.V. & Co. KG, Medos Medizintechnik AG, Nipro Medical Corporation, Microport Scientific Corporation, Braile Biomedica, Edwards Lifesciences Corporation and Abiomed.
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Reasons to buy Extracorporeal Membrane Oxygenation (ECMO) Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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