The global extracorporeal membrane oxygenation machine market is projected to generate $834.5 million revenue by 2030, advancing at a CAGR of 5.2% during 2021–2030. The significant growth of the market can be attributed to the rise in the prevalence of cardiopulmonary diseases and respiratory failure, technological advancements in healthcare solutions, and high investment in the healthcare sector by different governments and private organizations.
The respiratory category accounted for the largest revenue share, of around 45%, in 2021 and is further expected to continue the same trend during the forecast period. This is ascribed to the rise in the number of patients suffering from respiratory disorders, high demand for early diagnosis and diagnostic imaging, and technological developments in the field of ECMO machines. Moreover, excessive smoking, high use of tobacco, and high consumption of alcohol lead to respiratory disorders, which further propel the market growth.
The demand for veno-venous ECMO devices is expected to grow at a significant rate in the coming years. This can be ascribed to their function to increase blood flow and oxygen levels while lowering cardiac effort and providing hemodynamic assistance. In addition, the rising burden of cardiopulmonary disorders results in the increasing need for veno-venous ECMO modality, which, in turn, will boost the market in the coming years.
Pumps accounted for a substantial revenue share in 2021 in the market. These pumps, which may be roller, impeller, or centrifugal, serve as the base of ECMO devices. The rise in the market revenue of this category is attributed to the significant use of these pumps in ECMO therapies associated with different applications. Moreover, technological advancements such as the development of hollow pumps and the rise in the prevalence of cardiopulmonary and respiratory diseases drive the extracorporeal membrane oxygenation machine market growth.
Geographically, North America leads the market, and it is further expected to maintain its dominance during the forecast period. This is due to the high prevalence of chronic obstructive pulmonary diseases, the presence of sophisticated healthcare facilities, and favorable reimbursement policies in the region. Moreover, the U.S. contributes the majority of revenue to the regional market, owing to the high adoption rate of ECMO machines in hospitals.
Whereas, the APAC market will register the fastest growth during the forecast period. This can be attributed to the rising healthcare expenditure by governments in order to enhance healthcare infrastructure, the growing geriatric population, the increasing disposable income, and greater affordability for advanced technologies, in the region.
Collaborations, partnerships, acquisitions, product launches, and approvals are the major strategic developments observed in the extracorporeal membrane oxygenation machine market. For instance, in May 2022, LivaNova PLC acquired ALung Technologies Inc., to expand its portfolio within the advanced circulatory support (ACS) space for treating respiratory failure. Moreover, in July 2021, Xenios AG received the approval for Xenios console and two patient kits for ECMO therapy in China from the National Medical Products Administration (NMPA).
Some of the major players in the market are MicroPort Scientific Corporation, Xenios AG, Medtronic plc, Terumo Group, EUROSETS S.R.L., Getinge AB, and Abbott Laboratories.