The “Extracorporeal Membrane Oxygenation Market“ is projected to reach US$ 677.64 million by 2028 from US$ 546.73 million in 2021; it is estimated to grow at a CAGR of 3.1% during 2022-2028.
The report highlights the key factors driving the market and prominent players with their developments. The growth of the extracorporeal membrane oxygenation market is primarily attributed to the rising prevalence of cardiovascular diseases and respiratory failures and the growing adoption of extracorporeal membrane oxygenation in lung transplantation procedures. However, complications associated with extracorporeal membrane oxygenation hinder the growth of the market.
Companies Profiled in this report includes:
- Terumo Group
- Medtronic Plc
- MicroPort Scientific Corporation
- LivaNova Plc
- Nipro Medical Corporation
- Eurosets S.R.L.
- Getinge AB
- Braile Biomedica
- Fresenius Medical Care AG & Co KGaA
- ABIOMED Inc
Rising Prevalence of Cardiovascular Diseases and Respiratory Failures Drives extracorporeal membrane oxygenation Market Growth
Extracorporeal membrane oxygenation (extracorporeal membrane oxygenation) is a heart-lungs bypass machine. extracorporeal membrane oxygenation equipment is used in the treatment of cardiovascular diseases and respiratory failures. Millions of deaths due to cardiovascular diseases (CVDs) are recorded every year across the world. CVDs majorly cause mortality and morbidity in Europe, accounting for 45% of deaths in the region and 37% in the European Union (EU). As per the study ‘Global Burden of Disease Study 2019,’ CVDs were among the leading causes of death in Asia in 2019, causing 10.8 million fatalities (35% of the total fatalities). According to the 2022 Heart Disease & Stroke Statistical Update Fact Sheet, Global Burden of Disease, an estimated 119.1 million patients died of CVDs across the world in 2020. It also stated that the global prevalence of stroke and ischemic stroke in 2020 was 89.1 million and 68.2 million, respectively. High instances of CVDs are observed in North America.