MARKET SIZE FOR ECMO MACHINES
Are you looking to acquire ECMO Machines for your healthcare organization? Searching for a suitable market information for ECMO Machines? Information related to demand and supply of ECMO Machines. In this article, Hospaccx Healthcare Consultancy has mapped all the information related to ECMO Machines.
INTRODUCTION
Extracorporeal membrane oxygenation (ECMO) is a life support machine. People who need ECMO have a severe and life-threatening illness that stops their heart or lungs from working properly. For example, ECMO is used during life-threatening conditions such as severe lung damage from infection, or shock after a massive heart attack.
The ECMO machine replaces the function of the heart and lungs. It pumps and oxygenates a patient’s blood outside the body, allowing the heart and lungs to rest. When connected to an ECMO, blood flows through tubing to an artificial lung in the machine that adds oxygen and takes out carbon dioxide; then the blood is warmed to body temperature and pumped back into the body. People who need support from an ECMO machine are cared for in a hospital’s intensive care unit (ICU). Smaller portable ECMO device can carried by one person and can be transported in an ambulance or helicopter, making it possible to provide ECMO relief in emergency cases. Typically, people are supported by an ECMO machine for few hours to days but depending on the condition may also require it for a few weeks.
When is ECMO used?
- For patients recovering from heart failure, or lung failure or heart surgery.
- As a bridge option to further treatment, when doctors want to assess the state of other organs such as the kidneys or brain before performing heart or lung surgery.
- For support during high-risk procedures in the cardiac catheterization lab.
- As a bridge to a heart assist device, such as left ventricular assist device (LVAD).
- As a bridge for patients awaiting lung transplant. The ECMO helps keep tissues well oxygenated, which makes the patient a better candidate for transplant.
Why is ECMO used?
ECMO is used to help people whose:
- Lungs cannot provide enough oxygen to the body even when given extra oxygen
- Lungs cannot get rid of carbon dioxide even with help from a mechanical ventilator
- The heart cannot pump enough blood to the body ECMO may also be used to support people with heart or lung disease that cannot be cured while they wait for an organ transplant (e.g. new heart and/or lungs)
FACTORS PROPELLING THE MARKET SIZE OF ECMO MACHINES
- An increasing number of hospitals offering extracorporeal membrane oxygenation (ECMO) machine services and a rising number of awareness programs are some of the other factors boosting the market growth.
- Increasing awareness about extracorporeal membrane oxygenation procedures and ongoing technological advancements are further propelling the market.
- The increasing adoption rate of extracorporeal membrane oxygenation machines is catalysing technological advancements in these systems. The latest advancement includes oxygenators, hollow pumps, and heparin-coated cannula used for various applications in surgeries.
- Recently developed ECMO machines are smaller in size, thus increasing their portability and applications.
- Increasing the geriatric population, coupled with the growing incidence of coronary heart disease, is boosting the adoption of ECMO machines.
GLOBAL MARKET DYNAMICS
The global extracorporeal membrane oxygenation machine market size is expected to reach USD 394.9 million by 2027, registering a CAGR of 4.5% over the forecast period 2020 – 2027. The market is primarily driven by increasing incidence of cardiopulmonary and respiratory diseases and technological advancement in the field of extracorporeal membrane oxygenation (ECMO) procedures.
The growth of this market can also be attributed to government support for quality healthcare, high purchasing power parity of patients, and the increasing prevalence of diseases such as chronic obstructive pulmonary disease (COPD).
ASIA PACIFIC MARKET
The Asia Pacific market for extracorporeal membrane oxygenation machines is expected to witness the fastest growth during the forecast period. One of the key factors driving this market is:
- Increase in healthcare expenditure by government and private agencies in order to improve healthcare facilities.
- Economic development in countries such as Japan, India, and China, coupled with rising government initiatives related to the development of healthcare infrastructure and reimbursement policies, is further expected to augment the ECMO machines market.
According to WHO, chronic obstructive pulmonary disease (COPD) caused about 3 million deaths (5%) of the total deaths in 2015.
Tobacco smoking is considered a major factor contributing to the rising prevalence of COPD, along with air pollution and asthma. COPD is expected to increase in the coming years due to increasing tobacco consumption.
In the Asia-Pacific countries, various conferences are being organized to create awareness of advancements and the emerging usage of ECMO systems. Conferences establish a platform for the exchange of new advancements occurring in the field of ECMO systems. They also offer players the opportunity to showcase their products and communicate with stakeholders, while helping scientists and researchers to exchange experiences and build research relations.
LEADING MARKET PLAYERS
- Medtronic plc
- Sorin Group
- Terumo Cardiovascular Systems Corporation
- MAQUET Holding B.V. & Co. KG
- Medos Medizintechnik AG
- Nipro Medical Corporation
- Microport Scientific Corporation
Most of the leading players in the market are pursuing the strategies of approvals, product launches, agreements & partnerships, expansions, and other strategies (rebranding, acquisition, website launch, product development, and market deployment) to stay ahead of the competition.
MARKET SEGMENTATION
On the basis of component, the market for ECMO machines has been segmented into:
- cannula
- oxygenators
- pumps
- controllers, and accessories.
Based on application, the market for extracorporeal membrane oxygenation machines has been segmented into:
- Respiratory
- Cardiac
- Extracorporeal cardiopulmonary resuscitation (ECPR)
Based on modality, the global extracorporeal membrane oxygenation (ECMO) machine market has been segmented into:
- veno-arterial
- veno-venous
- arterio-venous
IMPACT COVID-19 ON ECMO MACHINES MARKET
The sudden outbreak of COVID-19 has reported a significant inclination in the Extracorporeal Membrane Oxygenation worldwide market growth. As COVID-19 can trigger acute respiratory failure and/or acute cardiopulmonary failure, the FDA has stated the new policy for the treatment of COVID-19 patients that allows extracorporeal oxygenation for more than six hours. With the scarcity of ventilators and the ascending number of cases, increased need for ECMO is emerging as to be indispensable to ensure the survival of critically ill patients.
CONCLUSION
The increasing survival rate of cardiac and respiratory patients undergoing ECMO machine-supported surgery is also driving the ECMO machine market. The application of extracorporeal membrane oxygenation machine in procedures has increased over the years. This machine was traditionally used in cases of circulatory or respiratory failure. However, its applications have expanded to be used as rescue therapy for post-organ transplantation and sepsis and in cases of heart failure.
The use of extracorporeal membrane oxygenation machines has been rising gradually worldwide owing to its benefits such as acting as an artificial lung for patients and growing awareness about its use. Moreover, increasing healthcare expenditure by government and private agencies in order to improve healthcare facilities are fuelling the market for extracorporeal membrane oxygenation machines.
If you need any support regarding procurement, purchasing, investing in ECMO Machines for your healthcare organization, you can contact us: Hospaccx healthcare business consulting Pvt. Ltd on you can visit our website https://hospaccxconsulting.com/
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