DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Extracorporeal Membrane Oxygenation Machine Market by Modality, Application and Region - Analysis & Forecasts to 2021" report to their offering.
The extracorporeal membrane oxygenation (ECMO) machine market is poised to reach USD 305.3 million by 2021 from USD 247.2 million in 2016, at a CAGR of 4.3%.
Factors such as growing cardiovascular and respiratory diseases, rising adoption of ECMO as a bridge to lung transplantation, growing number of ECMO centers, conferences and training programs to increase awareness, and technological advancements have led to the growth of the market.
On the basis of modality, the market is segmented into venoarterial (VA), venovenous (VV), and arteriovenous (AV). The venovenous (VV) segment is expected to account for the largest share of the market in 2016. The large share of this segment is mainly attributed to the high incidence of respiratory failure, rising lung transplants, and technological advancements. The arteriovenous (AV) segment is projected to grow at the highest CAGR in the forecast period.
Based on application, the respiratory segment is expected to account for the largest share of the market, in 2016. The large share of this segment is mainly attributed to factors such as rising incidence of respiratory failure, lung cancer, growing lung transplants, and increasing adoption of ECMO systems.
North America is expected to account for the largest share of the global market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The large share of the North American region can be attributed to the favorable reimbursement scenario, the rising incidence of lung cancer, and the presence of a large number of ECMO centers in the U.S.
The Asia-Pacific region is expected to witness the highest growth rate in the forecast period, mainly due to the favorable reimbursement scenario in Japan, the rising cardiovascular diseases in China, the growing application and adoption of ECMO in India, and the rising cardiopulmonary disorders in Australia.
- Increasing Prevalence of Cardiovascular and Respiratory Diseases
- Growing Adoption of ECMO in Lung Transplantation Procedures
- Growth in the Number of ECMO Centers
- Technological Advancements in ECMO Machine
- Complications Associated With ECMO
- High Cost of ECMO Procedures
- Increasing Survival Rates With ECMO
- Lack of Skilled Professionals
- Alung Technologies, Inc.
- Eurosets S.R.L.
- Getinge Group
- Livanova PLC
- Medtronic PLC
- Microport Scientific Corporation
- Nipro Corporation
- Origen Biomedical, Inc.
- Terumo Corporation
- Xenios AG (Acquired By Fresenius Medical Care AG & Co. KGaA)
For more information about this report visit http://www.researchandmarkets.com/research/7f5smv/extracorporeal