A study by Triton Market Research with the title ‘Global Extra Corporeal Membrane Oxygenation (ECMO) System Market,’ covers the Global Analysis and Forecast for 2019-2028 by Application (Extracorporeal Cardiopulmonary Resuscitation, Cardiac, Respiratory), by Modality (Veno-arterial, Veno-venous, Other Modalities), and by Geographical Region (Asia-Pacific, Latin America, North America, Middle East and Africa, Europe).
An extra corporeal membrane oxygenation (ECMO) system uses an extracorporeal technique to provide respiratory support to patients having heart and lung-related health issues. It removes carbon dioxide and infuses oxygen into the blood. It also provides hemodynamic support.
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As per the report, the global extra corporeal membrane oxygenation (ECMO) system market will be valued at $447.55 million by the year 2028, exhibiting a CAGR of 4.81% in the projected period between 2019 and 2028.
The growing prevalence of chronic disorders, like respiratory diseases and cardiovascular diseases, is primarily driving the growth of the extra corporeal membrane oxygenation (ECMO) system market. This is fueling the need for diagnosis and the treatment of such chronic disorders. This is expected to boost the demand for extracorporeal membrane oxygenation systems, and thereby drive the global market. However, the existence of other alternatives for the treatment of respiratory and cardiopulmonary diseases like anti-inflammatory therapy and vaccination are hampering the market growth.
The extra corporeal membrane oxygenation (ECMO) system market is segmented into application and modality. The first segment, application, is trifurcated into extracorporeal cardiopulmonary resuscitation, cardiac and respiratory. The second segment, modality, includes veno-arterial, veno-venous and other modalities.
The Asia-Pacific is anticipated to be the fastest-growing region in the global extra corporeal membrane oxygenation (ECMO) system market during the projected period. The large patient population and growing healthcare expenditure in China, India and Japan, are primarily driving the regional market growth. The increasing number of cases and ECMO centers, along with the cost-effectiveness of the technology, is the driver of the market. The increasing use of ECMO equipment and a better understanding of the technology are increasing the survival rate in patients with acute respiratory failure. Therefore, the rising prevalence of chronic respiratory diseases and cardiovascular diseases are likely to augment the ECMO system market in Japan.
Spectrum Medical, MicroPort Scientific Corporation, Getinge AB, OriGen Biomedical Inc, Elsius Biomedical Inc, Medtronic Plc, Eurosets, Nipro Corporation, Hemovent GmbH, Terumo Medical Corporation, Xenios AG (Fresenius SE & Co KGaA), Abbott Laboratories, ALung Technologies Inc and LivaNova Plc are some of the major companies in the extra corporeal membrane oxygenation (ECMO) system market.
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Question & Answer: Extra Corporeal Membrane Oxygenation (ECMO) System Market
Question 1: Which factors are primarily driving the growth of the extra corporeal membrane oxygenation (ECMO) system market?
Answer: The growing prevalence of chronic disorders, like respiratory diseases and cardiovascular diseases, is primarily driving the growth of the extra corporeal membrane oxygenation (ECMO) system market. This is fueling the need for diagnosis and the treatment of such chronic disorders. This is expected to boost the demand for extracorporeal membrane oxygenation systems, and thereby drive the global market.
Question 2: What factors are hampering the growth of the global extra corporeal membrane oxygenation (ECMO) system market?
Answer: The existence of other alternatives for the treatment of respiratory and cardiopulmonary diseases like anti-inflammatory therapy and vaccination are hampering the global extra corporeal membrane oxygenation (ECMO) system market growth.
Question 3: How is Asia-Pacific influencing the extra corporeal membrane oxygenation (ECMO) system market outlook?
Answer: The Asia-Pacific is anticipated to be the fastest-growing region in the global extra corporeal membrane oxygenation (ECMO) system market during the projected period. The large patient population and growing healthcare expenditure in China, India and Japan, are primarily driving the regional market growth. The increasing number of cases and ECMO centers, along with the cost-effectiveness of the technology, is the driver of the market. The increasing use of ECMO equipment and a better understanding of the technology are increasing the survival rate in patients with acute respiratory failure. Therefore, the rising prevalence of chronic respiratory diseases and cardiovascular diseases are likely to augment the ECMO system market in Japan.
Question 4: Which are some of the major companies in the extra corporeal membrane oxygenation (ECMO) system market?
Answer: Spectrum Medical, MicroPort Scientific Corporation, Getinge AB, OriGen Biomedical Inc, Elsius Biomedical Inc, Medtronic Plc, Eurosets, Nipro Corporation, Hemovent GmbH, Terumo Medical Corporation, Xenios AG (Fresenius SE & Co KGaA), Abbott Laboratories, ALung Technologies Inc and LivaNova Plc are some of the major companies in the extra corporeal membrane oxygenation (ECMO) system market.
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