According to a new report published by Allied Market Research, titled, ” Extracorporeal Membrane Oxygenation Market: Global Opportunity Analysis and Industry Forecast, 2020-2027″. The global market size of Extracorporeal Membrane Oxygenation is $XX million in 2019 with XX CAGR, and it is expected to reach $XX million by the end of 2027 with a CAGR of XX% from 2020 to 2027.
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Some of the key players operating in the market are Getinge Group, Medtronic PLC, LivaNova PLC, XENIOS AG, NIPRO Corporation, OriGen Biomedical Inc., ALung Technologies Inc., Microsoft Scientific Corporation, Medos Medizintechnik AG and EUROSETS S.r.l.
COVID – 19 scenario analysis:
- The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
- Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
- Over 4 million people affected globally, with 300 thousand losing their lives due to novel coronavirus
- Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
- Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to extracorporeal membrane oxygenation has been reduced and this segment have to face negligence subsequently causing negative impact on extracorporeal membrane oxygenation market
- However, WHO guidelines suggest providing ECMO support to patients with acute respiratory distress syndrome (ARDS) related to coronavirus disease
- ECMO preparedness amidst COVID-19 pandemic is important to control high transmission rate of the virus and reduce respiratory-related mortality
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increasing number of patients suffering from cardiopulmonary disease and respiratory failure is one of the prime factors driving the ECMO market. According to the American health agency CDC, a patient dies every 37 seconds from cardiovascular disease in the U.S. In addition to this, in 2018, chronic obstructive pulmonary disease (COPD) was one of the leading causes of death in the U.S.
Federal Agency of Health Research and Quality stated that in 2014, 6,890 extracorporeal membrane oxygenation procedures were performed in U.S. As per the Extracorporeal Life Support Organization, there is rise in the number of hospitals adopting and providing ECMO services, and has reached 264 in 2019 compared from 108 in 2008. Thus, the rising adoption of ECMO machines by the hospitals and ongoing technological advancements are the driving factors for ECMO market.
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Key benefits of the report:
- This study presents the analytical depiction of the global extracorporeal membrane oxygenation industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global extracorporeal membrane oxygenation market share.
- The current market is quantitatively analysed from 2020 to 2027 to highlight the global extracorporeal membrane oxygenation market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the extracorporeal membrane oxygenation market.
- The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in coming years.