Extracorporeal Membrane Oxygenation Machine Market: Rising Awareness about the Benefits to Drive the Market’s Growth
A recent report on extracorporeal membrane oxygenation machine market is published by Transparency Market Research. The market features a fragmented competitive landscape because of the presence of several notable and well-established companies. There are multiple small and medium sized companies that are now gaining entry in the global market. It is projected that the established players in the global extracorporeal membrane oxygenation machine market would resist in the emergence of these new players in order to maintain their brand position in the market. These leading companies are expected to focus on aggressive business strategies such as mergers, joint ventures, and acquisitions in order to stay ahead of the competitive curve. Moreover, they are also expected to pay more attention to the development of new and innovative products in order to stay relative in the market.
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Product Development is Key for Revenue Generation
There are a few barriers for the entry of a new company entering in the global extracorporeal membrane oxygenation machine market. However, huge initial investment and high levels of skill set are mandatory to sustain in the global market in the long term. In recent years, several new and innovative products have been introduced by these leading companies and is expected to be the go to strategy for their growth and development. Since these innovative and new technologies are being increasingly adopted by the end-users, the market players are projected to enjoy considerable profits with the help of high-tech product lines. Acquiring smaller and emerging players is key for this strategic approach. Some of the leading companies operating in the global extracorporeal membrane oxygenation machine market include names such as MicroPot Scientific Corporation, Medtronic Plc., LivaNova Plc., and Getinge AB among others.
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With such aggressive business strategies adopted by the global extracorporeal membrane oxygenation machine market players, it is inevitable that the market will experience a high growth. According to the TMR report, the extracorporeal membrane oxygenation machine market will exhibit an impressive CAGR of 5.40% for the given period of forecast of 2017 to 2025. Initially, the global market was valued at US$307.00 mn in 2016. With this rate of growth, the global market is expected to jump to a valuation of US$487.40 mn by the end of 2025.
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Increasing Adoption of New Tech to Push North America Market Growth
In terms of geographical segmentation, the global extracorporeal membrane oxygenation machine market is expected to be led by the North America region. With the availability of highly developed healthcare infrastructure and increasing acceptance of new technology, the extracorporeal membrane oxygenation machine market will thrive more in the North America region.
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