Extracorporeal Membrane Oxygenation Market Forecast by 2031
The extracorporeal membrane oxygenation market size is projected to reach US$ 0.74 billion by 2031 from US$ 0.58 billion in 2023. The market is expected to register a CAGR of 3.10% during 2023–2031. Surging product developments and approvals will likely remain a key trend in the market.
Extracorporeal Membrane Oxygenation Market Analysis
In 2020, there were 89.1 million cases of ischemic stroke and 68.2 million cases of stroke worldwide. In North America, there are more cases of cardiovascular disease. Globally, heart diseases are becoming more prevalent, with developed nations seeing a sharp rise in their incidence. Changes in lifestyle and other health issues are contributing to an increase in the incidences. The market is expected to grow due to new product releases, technological advancements, and the prevalence of a large population at risk for cardiovascular illnesses. Players like Terumo Group, Medtronic Plc, MicroPort Scientific Corporation, LivaNova Plc, Nioro Medical Corporation, Getinge AB, Braile Biomedica, Fresenius Medical Care AG & Co KGaA, Abiomed Inc., and others make up the majority of the extracorporeal membrane oxygenation (ECMO) market.
Extracorporeal Membrane Oxygenation Market Overview
Respiratory failure may result from airflow obstruction brought on by chronic obstructive pulmonary disease (COPD). It is among the severe illnesses that kill millions of people worldwide. The World Health Organization (WHO) reports that 3.23 million people worldwide died from COPD in 2019, making it the third most common cause of death in 2022. Roughly 90% of deaths from COPD take place in low- and middle-income nations. In 2020, COPD ranked as the sixth most common cause of death in the United States, according to the Centers for Disease Control and Prevention (CDC). Therefore, the market for ECMOs is growing due to the rising prevalence of respiratory failures and cardiovascular diseases.
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Extracorporeal Membrane Oxygenation Market: Strategic Insights
Market Size Value in US$ 546.73 Million in 2021 Market Size Value by US$ 677.64 Million by 2028 Growth rate CAGR of 3.1% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Extracorporeal Membrane Oxygenation Market: Strategic Insights
| Market Size Value in | US$ 546.73 Million in 2021 |
| Market Size Value by | US$ 677.64 Million by 2028 |
| Growth rate | CAGR of 3.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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Extracorporeal Membrane Oxygenation Market Drivers and Opportunities
Growing Adoption of ECMO in Lung Transplantation Procedures Favors the Market Growth
For patients with end-stage lung diseases like cystic fibrosis, idiopathic pulmonary fibrosis (IPF), and COPD, lung transplantation is a life-saving treatment option that can enhance quality of life. ECMO is a flexible instrument utilized during the preoperative, intraoperative, and postoperative stages of lung transplantation. It serves as a transitional period for patients receiving lung transplants. As a result, the use of ECMO in lung transplantation is expanding quickly to treat patients whose lung disease poses a serious threat to their lives. The Scientific Registry of Transplant Recipients (SRTR) reports that approximately 4,600 lung transplants are carried out annually worldwide, with North America accounting for 55% of those procedures. The same source states that in the US, 3,243 patients were added to the waiting list, and approximately 2,759 patients received lung transplants. Following a lung transplant, the most common cause of death is primary graft dysfunction (PGD).
Thus, PGD following lung transplantation is treated penultimately with ECMO. The overall incidence of PGD, according to the National Library of Medicine (NLM) in 2022, is 30%. Risk factors for this condition include organ acquisition, preservation methods, intraoperative organ implantation and reperfusion, and preoperative donor lung ischemia. As a result, there is an increasing need for ECMO equipment to treat PGD patients.
Increasing Survival Rates with ECMO Creates Significant Opportunities in the Market
Since ECMO treatments have encouraged survival rates, the use of ECMO for treating respiratory failure has increased recently. In 2021, a study by BioMed Central reported that patients with COVID-19 who experienced respiratory failure and received veno-venous extracorporeal membrane oxygenation (V-V ECMO) had a 60% survival rate. Furthermore, because it improves patient survival rates, ECMO is advised for patients with acute respiratory distress syndrome (ADRS), primary graft dysfunction following lung transplantation, and lung trauma. Additionally, ECMO improves the survival rate of patients whose post-cardiac arrest regimen is impacted. A radical change in the adoption of Westernized lifestyles causes several cardiac conditions. This prompts the major players to make significant R&D investments, which enhances the effectiveness of ECMO treatment and raises the survival rate. As a result, more market opportunities are anticipated during the forecast period due to the increasing survival rate of using ECMO in various treatments.
Extracorporeal Membrane Oxygenation Market Report Segmentation Analysis
Key segments that contributed to the derivation of the extracorporeal membrane oxygenation market analysis are modality, application, and age group.
- Based on modality, the extracorporeal membrane oxygenation market is segmented into venoarterial extracorporeal membrane oxygenation, venovenous extracorporeal membrane oxygenation, and arteriovenous extracorporeal membrane oxygenation. The venoarterial extracorporeal membrane oxygenation segment held the most significant market share in 2023.
- By application, the market is categorized into respiratory and cardiology. The respiratory segment held the largest share of the market in 2023.
- By age group, the market is segmented into adults, pediatrics, and neonates. The adults segment held a significant share of the market in 2023.
Extracorporeal Membrane Oxygenation Market Share Analysis by Geography
The geographic scope of the extracorporeal membrane oxygenation market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The North America extracorporeal membrane oxygenation market is segmented into the US, Canada, and Mexico. The presence of essential market players and a growing number of product launches and approvals are vital factors responsible for market growth in the region. Also, the increasing prevalence of cardiovascular diseases and respiratory diseases is likely to favor market growth
Extracorporeal Membrane Oxygenation Market Report Scope
Extracorporeal Membrane Oxygenation Market News and Recent Developments
The extracorporeal membrane oxygenation market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the extracorporeal membrane oxygenation market are listed below:
- LivaNova P.L.C., a market-leading medical technology and innovation company, announced it received 510(k) clearance for extracorporeal membrane oxygenation (ECMO) from the US Food and Drug Administration (FDA) for LifeSPARC, the Company’s next-generation Advanced Circulatory Support (ACS) pump and controller system. LivaNova leveraged existing real-world evidence inclusive of data collected during the COVID-19 pandemic to receive this new indication. (Source: LivaNova PLC, Press Release, November 2022)
- Inspira Technologies OXY BHN Ltd. introduces the "Liby™" System, an advanced form of life support better known by the medical industry as extracorporeal membrane oxygenation (ECMO), used to treat patients with life-threatening heart and lung failure. (Source: Inspira Technologies, Press Release, July 2022)
Extracorporeal Membrane Oxygenation Market Report Coverage and Deliverables
The “Extracorporeal Membrane Oxygenation Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Extracorporeal membrane oxygenation market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Extracorporeal membrane oxygenation market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Extracorporeal membrane oxygenation market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the extracorporeal membrane oxygenation market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Modality, Application, and Age Group
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The market is expected to register a CAGR of 3.10% during 2023–2031.
Terumo Group, Medtronic Plc, Braile Biomedica, LivaNova Plc, Nipro Medical Corporation, MicroPort Scientific Corporation, Eurosets S.R.L., Getinge AB, Fresenius Medical Care AG & Co KGaA
Surging product developments and approvals will likely remain a key trend in the market.
Key factors driving the market are the increasing prevalence of cardiovascular diseases and respiratory failures and the growing adoption of ECMO in lung transplantation procedures.
North America dominated the extracorporeal membrane oxygenation market in 2023
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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