Global Extracorporeal Membrane Oxygenation Market Report and Forecast 2024-2032

Global Extracorporeal Membrane Oxygenation Market Outlook

The global Extracorporeal Membrane Oxygenation market attained a value of USD 241.67 million in 2023, driven by the increasing prevalence of respiratory and cardiac diseases across the globe. The market size is anticipated to grow at a CAGR of 4.8% during the forecast period of 2024-2032 to achieve a value of USD 368.53 million by 2032.

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Pumps Segment to Account for a Significant Market Share of the Global Extracorporeal Membrane Oxygenation Industry

Based on component, the pumps segment is predicted to hold a significant market share in the extracorporeal membrane oxygenation industry. The pumps are an essential element in the ECMO machine that helps pump the blood from the patient's body to the machine and then back. The increased implementation of ECMO machines with the increasing patient population globally is driving the demand for pumps. Moreover, in terms of application, the respiratory segment is estimated to observe a significant growth as a result of the increasing respiratory diseases, especially among the geriatric population, and the rising levels of air pollution in the world. These factors are expected to contribute to the overall market growth in the forecast period.

North America to Occupy a Substantial Market Share in the Global Extracorporeal Membrane Oxygenation Industry

North America is estimated to hold a substantial share of the extracorporeal membrane oxygenation industry in the forecast period. This growth can be attributed to the presence of leading manufacturers of ECMO machines in the region. In addition, the growing geriatric population, susceptible to most cardiopulmonary diseases, is leading to increased investments in ECMO technology by the government and the manufacturers in the region. Furthermore, according to the World Population Report issued by the UN in 2019, the population ageing phenomenon is increasingly being observed worldwide. In North America, particularly, the ratio is expected to rise from 30 persons aged above 65 per 100 people in 2019 to 49 people aged above 65 per 100 people in 2050.

Extracorporeal Membrane Oxygenation: Market Segmentation

Extracorporeal membrane oxygenation (ECMO) refers to a life support machine. It is utilised by patients with severe illnesses that render their heart and lungs unable to function properly. ECMO replaces the functions of the heart and lungs in order to provide oxygen to the patient’s body and help them pump enough blood. The machine is linked to the patient's body with the help of plastic cannulas that pumps blood from the patient's body to an artificial lung, which adds oxygen to it and removes the carbon dioxide, after which the blood is sent back to the patient's body via another pump with the same pressure as the heart. Patients of all ages utilise ECMO during instances of heart and respiratory failure and in the process of cardiopulmonary resuscitation.

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By component, the market is divided into:

• Pumps
• Oxygenator
• Controllers
• Cannula
• Accessories

On the basis of modality, the market can be segmented into:

• Veno-Arterial
• Veno-Venous 
• Arterio- Venous

Based on patient type, the industry can be categorised into:

• Neonates 
• Paediatric
• Adult

On the basis of application, the market can be distributed into:

• Respiratory
• Cardiac
• Extracorporeal Cardiopulmonary Resuscitation (ECPR)

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Heightened Prevalence of Cardiovascular Illnesses and the Rampant Spread of the Covid-19 Infection to Drive the Global Extracorporeal Membrane Oxygenation Industry

According to the WHO, cardiovascular diseases are a leading cause of death globally, with around 17.9 million casualties every year. In addition, most cardiovascular diseases are accompanied by pulmonary ailments such as chronic obstructive pulmonary disease (COPD) and emphysema, among others. In this regard, ECMO machines are widely utilised during the treatment and rehabilitation of patients. Moreover, due to the rampant spread of the Covid-19 virus worldwide, the demand for ECMO machines has increased significantly. These machines are essential in the treatment of patients with severe Covid-19 infection, as their weakened immunity and long-term symptoms make them susceptible to organ failure. These factors are estimated to positively impact the market growth in the forecast period.

Key Industry Players in the Global Extracorporeal Membrane Oxygenation Market

The report gives a detailed analysis of the following key players in the global extracorporeal membrane oxygenation market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Medtronic PLC
• LivaNova PLC
• Terumo Corporation
• MicroPort Scientific Corporation
• Getinge AB 
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

Key Highlights of the Report