ECMO Machine Market Size Projected To Show Strong Growth

The report analyses the ECMO Machine market’s dynamics, which helps in determining the market’s valuation. This analyzes growth drivers, roadblocks, opportunities, and threats. The value of various market segments and sub-segments heavily depends on these variables in the research. The research approach makes use of methodologies like Porter’s Five Forces model to assure accuracy. This aids in seeing potential hazards and avoiding bad financial decisions.

Global ECMO Machine Market is valued at approximately USD 500 million in 2021 and is anticipated to grow with a healthy growth rate of more than 4.9 % over the forecast period 2022-2028. ECMO Machine is a life support machine. People who need ECMO have a severe and life-threatening illness that stops their heart or lungs from working properly. For example, ECMO is used during life-threatening conditions such as severe lung damage from infection or shock after a massive heart attack. Growing adoption of ECMO in lung transplantation procedures, increasing prevalence of cardiovascular and respiratory diseases has led to the adoption of ECMO Machine across the forecast period.

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

For Instance: As per the WHO, An estimated 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. Also, with the increasing survival rates, the adoption & demand for ECMO Machine is likely to increase the market growth during the forecast period. However, high costs impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the Global ECMO Machine Market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading region across the world in terms of market share owing to greater affordability for advanced technologies; the rising prevalence of target diseases; and favorable government initiatives. Whereas, Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2022-2028. Factors such as growing geriatric population, increasing disposable income would create lucrative growth prospects for the ECMO Machine market across Asia Pacific region.

Major market players included in this report are:

ABIOMED

Fresenius Medical care AG & Co.

KGaA (Germany)

Getinge Group (Sweden)

Medtronic plc (US)

Terumo Cardiovascular Systems Corporation

NIPRO CORPORATION

LIVANOVA PLC

EUROSETS S.R.L.

CYTOSORBENTS CORPORATION

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.

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Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:

ECMO Machine

Software

By Component:

Pumps

Oxygenators

Controllers

Cannul

Assessories

By Outlook:

Veno-Venous

Veno-Arterials

Arterio-Venous

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

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Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

The Five Forces analysis examines the following factors:

1. Bargaining power of buyers
2. Bargaining power of suppliers
3. Threat of new entrants
4. Threat of substitutes
5. Threat of rivalry

The PESTLE analysis takes into account the following dimensions:

• Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
• Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
• Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
• Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
• Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
• Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.

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