The Extracorporeal Membrane Oxygenation Device Market is expected to grow by leaps and bounds in the forecast period. Nanotechnology’s medical application is on the anvil. As such, nanomedicine is an outcome of the technology operating at the molecular, atomic, or supramolecular scale. The broad application areas of nanomedicine include sensing, imaging, diagnosis, and delivery via medical devices. This would certainly keep the healthcare vertical upgraded continuously.
Extracorporeal membrane oxygenation is used to describe the long term extracorporeal support that focuses on the function of oxygenation. Extracorporeal membrane oxygenation device is used also used in cardiac surgery as postoperative support. Researcher has also developed advanced extracorporeal membrane oxygenation device which is referred as extracorporeal life support. (ECLS). Extracorporeal membrane oxygenation device is a combined system of one membrane oxygenator, oxygen blender, cannula, post membrane pressure monitor, heat exchanger, venous reservoir and centrifugal pump.
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According to medical professionals, extracorporeal membrane oxygenation is the best technique of transferring patients with severe ARDS. Most of the medical profession advice that extracorporeal membrane oxygenation device should be used for diagnosis during cardiac surgery.
Though extracorporeal membrane oxygenation is a bit risky therapy, therefore it should be performed under experience medical professional. These devices are also used for infant child who is awaiting for heart or lungs transfer. Extracorporeal membrane oxygenation device provide infant child sufficient oxygen which allowing time for the lungs and heart to rest or heal.
The primary factors driving the growth of extracorporeal membrane oxygenation devices market are increasing prevalence of respiratory failure and chronic obstructive pulmonary disorder (COPD) and pulmonary diseases. Substantial increase in a number of cardiac surgeries is also responsible for the growth of extracorporeal membrane oxygenation devices market.
Beside that technological advancement and rising awareness among physician and patient about extracorporeal membrane oxygenation devices has also boosted the growth of this market. Increase adoption of extracorporeal membrane oxygenation devices in hospitals and clinics has propelled the growth of this market.
High risk associated with the use of extracorporeal membrane oxygenation devices may hamper the growth of this market over the forecast period. Despite this, high cost of devices, risk of complication during ECMO treatment, and presence of conventional techniques are some of the hindering factors. Lack of availability of skilled profession in low economic countries will restrain the growth of extracorporeal membrane oxygenation devices market.
The global market of extracorporeal membrane oxygenation devices is segmented on the basis of modality, application and geographical region.
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The global market for extracorporeal membrane oxygenation devices is expected to show substantial growth over the forecast period due to increase the prevalence of COPD and heart-related diseases. The extracorporeal membrane oxygenation devices market can be classified on the basis of modality, application, and region.
Based on modality, extracorporeal membrane oxygenation devices market can be classified as Veno Artrial (VA), Veno Venous (VV), Artrio Venous (AV). Veno Artrial segment by modality is expected to have maximum market share interim of value over the forecast period.
On the basis of application extracorporeal membrane oxygenation devices market can be classified as respiratory, cardiac and extra-corporeal cardiopulmonary resuscitation (ECPR). The respiratory segment is expected to grow at maximum pace over the forecast period among all other application for extracorporeal membrane oxygenation devices market.
On the basis of and user extracorporeal membrane oxygenation devices market is classified as hospitals, clinics, and ambulatory surgical centers. Among all end user, hospitals segment is expected to gain maximum market share in term of revenue over the forecast period.
On the basis of regional presence, global extracorporeal membrane oxygenation devices market is segmented into five key regions viz. North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. North America is expected to dominate the market in term of revenue due to favorable reimbursement scenario in this region.
Extracorporeal membrane oxygenation devices market is then followed by Europe and Asia- Pacific. Europe is expected to show high growth rate owing to technological advancement and high prevalence of COPD patient. In Asia-Pacific region, India and China are the major markets for extracorporeal membrane oxygenation devices market.
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Some of the key player for extracorporeal membrane oxygenation devices market are Maquet Holding B.V. & CO. KG., Medtronics, Sorin Group, Terumo Medical Corporation, Nipro Medical Corporation, Medos Medizintechnik AG, MicroPort Scientific Corporation. Major player in this market is focusing on merger and acquisition to expand their product portfolio and geographic reach.
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