Report : North America ECMO Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Modality (Venoarterial ECMO, Venovenous ECMO, and Arteriovenous ECMO), Application (Respiratory and Cardiology), and Age Group (Adults, Pediatrics, and Neonates)
At 3.3% CAGR, the North America ECMO Market is speculated to be worth US$ 277.36 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America ECMO market was valued at US$ 227.85 million in 2022 and is expected to reach US$ 277.36 million by 2028, registering a CAGR of 3.3% from 2022 to 2028. Rising prevalence of cardiovascular diseases and respiratory failures and surging product developments and approvals are the critical factors attributed to the North America ECMO market expansion.
Extracorporeal membrane oxygenation (ECMO) is a heart–lungs bypass machine. ECMO equipment is used in the treatment of cardiovascular diseases and respiratory failures. Millions of deaths due to cardiovascular diseases (CVDs) are recorded every year across the region. High instances of CVDs are observed in North America. As per the National Center for Chronic Disease Prevention and Health Promotion, Division for Heart Disease and Stroke Prevention, ~697,000 people succumbed to heart disease in the US. According to the American Heart Association, over 130 million people in the US (45.1% of total population) are likely to get affected by some form of cardiovascular disease by 2035. Further, according to the National Library of Medicine, in 2022, about 400,000 coronary artery bypass grafting (CABG) surgeries are performed every year. Chronic obstructive pulmonary disease (COPD) causes obstruction in the airflow from the lungs, which can lead to respiratory failure. It is one of the life-threatening illnesses that cause millions of deaths across the region. According to World Health Organization (WHO), in 2022, COPD was the third leading cause of death. About 90% of COPD deaths occur in low- and middle-income countries. Therefore, the growing prevalence of cardiovascular diseases and respiratory failures drives the growth of the North America ECMO market.
On the contrary, complications associated with ECMO hurdles the growth of North America ECMO market.
Based on modality, the North America ECMO market is segmented into venoarterial ECMO, venovenous ECMO, and arteriovenous ECMO. The venoarterial ECMO segment held 43.1% market share in 2022, amassing US$ 98.19 million. It is projected to garner US$ 124.01 million by 2028 to expand at 4.0% CAGR during 2022–2028.
Based on application, the North America ECMO market is bifurcated into respiratory and cardiology. The respiratory segment held 57.2% market share in 2022, amassing US$ 130.25 million. It is projected to garner US$ 154.92 million by 2028 to expand at 2.9% CAGR during 2022–2028.
Based on age group, the North America ECMO market is segmented into adults, pediatrics, and neonates. The adults segment held 40.6% market share in 2022, amassing US$ 92.55 million. It is projected to garner US$ 116.58 million by 2028 to expand at 3.9% CAGR during 2022–2028.
Based on country, the North America ECMO market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 66.5% market share in 2022. It was assessed at US$ 151.41 million in 2022 and is likely to hit US$ 187.91 million by 2028, exhibiting a CAGR of 3.7% during the forecast period.
Key players dominating the North America ECMO market are ABIOMED Inc, Braile Biomedica, Eurosets S.R.L., Fresenius Medical Care AG & Co KGaA, Getinge AB, LivaNova Plc, Medtronic Plc, MicroPort Scientific Corporation, Nipro Medical Corporation, and Terumo Group, among others.
- In May 2022, LivaNova PLC Acquired ALung Technologies, Inc. ALung Technologies, Inc., is a provider of low-flow extracorporeal carbon dioxide removal technologies for treating patients with acute respiratory failure.
- In April 2020, Abiomed acquired Breethe, developer of a novel extracorporeal membrane oxygenation (ECMO) system. With the acquisition of Cardiopulmonary Support Technology (ECMO), the company expanded its product portfolio.
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: email@example.com