Extracorporeal Membrane Oxygenation Market regional outlook, competitive strategies and forecasts to 2025
Growing cases of respiratory disorders will drive the demand for extracorporeal membrane oxygenation market worldwide. Non-communicable diseases like cardiovascular disorders are some of the main reasons behind the rising cases of mortality. As per the WHO, chronic obstructive pulmonary disorders affect nearly 200 million people.
Increasing awareness regarding cardiovascular and respiratory diseases among people along with the growing demand to adopt advanced treatment procedures are some of the main factors supporting the market growth. Heavy investments made by public organizations to treat chronic diseases will also steer the demand for extracorporeal membrane.
For example, in the European Union, the cost of COPD is approximately 6% of the total health expenditure, accounting for 55% of the total cost of respiratory diseases. Another major factor supporting the developments in the market is the high adoption rate of the extracorporeal membrane oxygenation (ECMO) technique for lung transplantation. Hence, the growing awareness regarding the ECMO technique among patients in the hospital will offer the industry players a better opportunity in the coming times.
Reports estimate that the global extracorporeal membrane oxygenation market size could cross USD 370 million in terms of total valuation through 2025. Mentioned below are some of the factors likely to drive the industry trends in the near future.
Extensive adoption of veno-venous ECMO procedures
In the year 2018, the veno-venous ECMO segment was responsible for more than USD 105 million in terms of valuation. Growing cases of acute respiratory disorders will support the demand for veno venous modality as it provides complete respiratory support, fewer complications like reduced bleeding, and a low recirculation rate. Veno-venous technique has also shown positive outcomes in the treatment of the H1N1 epidemic and has gained popularity among the healthcare facilities.
To access sample pages of this report titled, “Extracorporeal Membrane Oxygenation Market Size By Modality (Venoarterial, Veno-venous, Arteriov0enous), By Application (Cardiac, Respiratory, Extracorporeal Cardiopulmonary Resuscitation), By Patient Population (Infant, Pediatric, Adult), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
Increasing cases of respiratory disorders
In the year 2018, the use of ECMO in respiratory diseases held a substantially wide market share with a value of nearly USD 175 million. As per the WHO, asthma claims over 1,80,000 deaths each year. The major share of this segment is attributed to the growing incidences of pulmonary diseases, respiratory failure, and lung cancer.
High incidences of lung diseases among adults
There is a considerable increase in the number of adults suffering from respiratory conditions especially in the developing countries which will act as a major factor supporting the segmental growth. Tuberculosis is one of the major causes of death among adults. As per WHO, the mortality rate is 10 times higher in people aged 60 and above than in people between the age of 15 to 59. The growing cases of acute respiratory disorder along with the rise in the geriatric population will play an integral role in supporting the extracorporeal membrane oxygenation market outlook.
U.K. to emerge as a notable healthcare market
Regionally speaking, U.K. extracorporeal membrane oxygenation market has gained widespread traction due to the increasing cases of respiratory disorders among the people in the region. In the year 2018, the UK product market was valued at more than USD 150 million. The economic burden of all the lung condition is nearly USD 12 billion each year in the U.K. The evident increase in respiratory disorders along with the adequate awareness among the people regarding the ECMO procedure will favor the regional market.
COVID-19 and extracorporeal membrane oxygenation process
The coronavirus infection largely affects the respiratory system of a person. Patients who are critically ill due to the infection are often treated with the help of extracorporeal membrane oxygenation as it allows the organs of the patients who are sick to rest and recover. As per the Extracorporeal Life Support Organization, the technique could save nearly half of the seriously ill COVID-19 patients for whom ventilation is insufficient to sustain the blood oxygen levels.
Some of the leading extracorporeal membrane oxygenation companies that are offering advanced treatment solutions include Abbott, Terumo, Alung Technologies, Medtronic, and Getinge, to name a few.
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