Extracorporeal Membrane Oxygenation (ECMO) Machine Market to Grow at of 4.3% to 2021
The extracorporeal membrane oxygenation (ECMO) machine market is poised to reach USD 305.3 million by 2021 from USD 247.2 million in 2016, at a CAGR of 4.3% while the respiratory segment is expected to account for the largest share of the market.
Pune, India – February 28, 2017 /MarketersMedia/ —
Factors such as growing cardiovascular and respiratory diseases, rising adoption of ECMO as a bridge to lung transplantation, growing number of ECMO centers, conferences and training programs to increase awareness, and technological advancements have led to the growth of the market.
On the basis of modality, the market is segmented into venoarterial (VA), venovenous (VV), and arterio venous (AV). The venovenous (VV) segment is expected to account for the largest share of the market in 2016. The large share of this segment is mainly attributed to the high incidence of respiratory failure, rising lung transplants, and technological advancements. The arteriovenous (AV) segment is projected to grow at the highest CAGR in the forecast period.
Complete report on global IR spectroscopy market spread across 129 pages, profiling 10 companies and supported with 78 tables and 31 figures is now available at http://www.rnrmarketresearch.com/extracorporeal-membrane-oxygenation-ecmo-systems-market-by-modality-veno-arterial-va-veno-venous-vv-arterio-venous-av-by-application-respiratory-cardiac-ecpr-by-geography-global-forecast-to-2020-market-report.html .
Based on application, the respiratory segment is expected to account for the largest share of the market, in 2016. The large share of this segment is mainly attributed to factors such as rising incidence of respiratory failure, lung cancer, growing lung transplants, and increasing adoption of ECMO systems.
North America is expected to account for the largest share of the global market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World (RoW).The large share of the North American region can be attributed to the favorable reimbursement scenario, the rising incidence of lung cancer, and the presence of a large number of ECMO centers in the U.S.
The Asia-Pacific region is expected to witness the highest growth rate in the forecast period, mainly due to the favorable reimbursement scenario in Japan, the rising cardiovascular diseases in China, the growing application and adoption of ECMO in India, and the rising cardiopulmonary disorders in Australia.
The key players of the extracorporeal membrane oxygenation machine market were Getinge Group (Sweden), Medtronic plc (Ireland), and LivaNova PLC (U.K.). These companies together contributed ~68.8% of the global market in 2015. The other players of the market are XENIOS AG (Germany), Terumo Corporation (Japan), MicroPort Scientific Corporation (China), NIPRO Corporation (Japan), OriGen Biomedical, Inc. (U.S.), ALung Technologies, Inc. (Germany), and EUROSETS S.r.l. (Italy). Order a copy of Extracorporeal Membrane Oxygenation Machine Market by Modality (Veno-Arterial (VA), Veno-Venous (VV), Arterio-Venous (AV)), Application (Respiratory, Cardiac, Extracorporeal Cardiopulmonary Resuscitation (ECPR)), and Region – Analysis & Forecasts to 2021 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=444047 .
The market witnesses high competitive intensity, as there are several big and small firms with similar product offerings. These companies adopt various strategies (approvals, product launches, agreements & partnerships, expansions, rebranding, acquisitions, website launches, product deployments, and market development) to increase their market shares and establish a stronger foothold in the global market.
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