Extracorporeal Membrane Oxygenation (ECMO) System Market: Trends, Growth, and Projections 2024-2031

Market Size

The Extracorporeal Membrane Oxygenation System Market was valued at US$ 538.93 million in 2023 and is projected to reach US$ 708.44 million by 2031, growing at a Compound Annual Growth Rate (CAGR) of 3.26% during the forecast period from 2024 to 2031.

An Extracorporeal Membrane Oxygenation System (ECMO), a type of life support machine, is utilized for the treatment of various heart and lung diseases. The primary function of an ECMO system is to supply sufficient oxygen to the body when the heart and lungs are unable to function properly. This machine is used globally for the treatment of lung cancer and chronic disorders.

For More Insights Request Free Sample: https://www.datamintelligence.com/download-sample/extracorporeal-membrane-oxygenation-system-market

Market Dynamics

The global Extracorporeal Membrane Oxygenation System Market is primarily driven by the increasing prevalence of lung cancer, the growing geriatric population, and advancements in ECMO technology.

The market's growth is further propelled by rising technological advancements and the launch of innovative products. Various factors such as these advancements, the increasing elderly population, and improvements in ECMO technology are expected to be key drivers for the ECMO system market. The growth of the market can also be attributed to the increasing number of ECMO centers, conferences, and training programs aimed at raising awareness about this technology.

Moreover, the availability of technologically advanced devices from key players is anticipated to play a crucial role in the market's growth. The market is further boosted by increasing government funding and healthcare expenditure for treating chronic diseases. For instance, in the European Union, the direct cost of COPD accounts for around 6% of total health expenditure, making up nearly 56% of the total cost of respiratory diseases.

Another driving factor for the market is the high adoption rate of ECMO techniques for lung transplantation. Thus, the increasing awareness about extracorporeal membrane oxygenation techniques among patients and hospitals is expected to provide better opportunities for market players in the future. The market's growth is also contributed to by various novel product launches.

For example, in January 2021, Eurosets, a developer and manufacturer of advanced medical devices, announced the commercial release (outside of the USA) of its ECMOlife system for extracorporeal life support. This device has been clinically evaluated and has supported critically ill patients for around 400 days, with the longest individual treatment lasting 27 days.

View Full Report: https://www.datamintelligence.com/research-report/extracorporeal-membrane-oxygenation-system-market

Market Segmentation

By Modality Type
Veno-venous (VV)
Veno-arterial (VA)
Arterio-venous (AV)

By Type
ECMO Machines
Software

By Component
Pump
Oxygenator
Controller
Cannula
Accessories
By Age Group
Neonatal
Pediatrics
Adult

By Application
Respiratory
Cardiac
Extracorporeal Cardiopulmonary Resuscitation (ECPR)

Market Key Players
Major players are MAQUET Holding B. V. & Co. KG, Medtronic plc, LivaNova PLC., XENIOS AG, Terumo Corporation, MicroPort Scientific Corporation, NIPRO Corporation, OriGen Biomedical Inc, Fresenius Medical care AG & Co. KGaA and EUROSETS S.r.l.

Trending Reports

ExtraCorporeal Membrane Oxygenation Market - https://www.datamintelligence.com/research-report/extracorporeal-membrane-oxygenation-market

Extracorporeal Membrane Oxygenation Machine Market - https://www.datamintelligence.com/research-report/extracorporeal-membrane-oxygenation-machine-market

Extracorporeal Shock Wave Therapy Device Market - https://www.datamintelligence.com/research-report/extracorporeal-shock-wave-therapy-device-market

Contact Us:
Company Name: DataM Intelligence
Email: info@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com

About DataM Intelligence:
DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.

Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.

This release was published on openPR.