Europe Extracorporeal Membrane Oxygenation Machine Market

Europe Extracorporeal Membrane Oxygenation Machine Market Size & Growth (2023 to 2028):

According to the report, the Europe ECMO Machine Market size is forecasted to grow USD 90.81 Million by 2028 from USD 73.26 Million in 2023, registering a CAGR of 4.39% between 2023 to 2028. 

Extracorporeal membrane oxygenation machines are medical devices that provide extracorporeal life support to patients with cardiac and respiratory problems who cannot gas exchange or carry out adequate perfusion to sustain their lives. Because their organs cannot work as they should, this procedure allows patients to stay alive for longer.

The market is predicted to grow due to favorable reimbursement conditions, increased lung cancer incidence, and the availability of a significant number of ECMO centers. In addition, the market is expected to expand due to the rising number of people suffering from respiratory disorders such as pulmonary hypertension, respiratory failure, respiratory distress syndrome, meconium aspiration syndrome, and cardiovascular illnesses.

According to Eurostat data, around 61 percent of women and 45 percent of men in Estonia died in 2014 due to cardiovascular disorders. According to the Luce Report on Lung Cancer 2016, almost 312,000 persons in Europe have been diagnosed with lung cancer. According to the European Cardiovascular Disorders Statistics, 85 million persons and above in Europe suffered from cardiovascular diseases in 2015.

The stringent medical device approval regulations are limiting the growth. In addition, the ECMO equipment market faces obstacles such as a scarcity of experienced specialists and expensive therapy costs. For efficient market penetration, we must overcome a few hurdles. There are minimal difficulties associated with these devices due to a lack of qualified labor. However, the usage of these machines increases the risk of respiratory infections, which is one of the major concerns of the market. 

This research report on the Europe Extracorporeal Membrane Oxygenation Machine Market has been segmented and sub-segmented into the following categories

By Modality:

• Veno-Arterial (VA)
• Veno-Venous (VV)
• Arterio-Venous (AV)

By Application:

• Respiratory
• Cardiac
• Extracorporeal Cardiopulmonary Resuscitation (ECPR)

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, the Europe has the world's second-largest market share. The Extracorporeal membrane oxygenation (ECMO) machine market growth is expected to be driven by an increase in the frequency of cardiovascular disorders, increasing healthcare expenditure, and favorable reimbursement policies. United Kingdom, Poland, Germany, Belgium, Italy, France, Russia, and the rest of Europe contribute to European regional market growth. 

The UK ECMO Market dominates the global market in the region. The presence of well-established healthcare infrastructure, an increase in chronic diseases such as cardiac and respiratory diseases resulting from lifestyle changes and diet habits, and key players' participation with various tactics contribute to the regional market growth. For example, coronary heart disease claimed the lives of 66,341 people in the United Kingdom. ECMO can be used to control the death rate. As a result, there is room for market expansion in the United Kingdom.

Because of the expanding aging population, the UK is following Germany in leading the industry; important players are developing new products and collaborating strategically to establish the market in this region. In addition, the European government has taken several steps to boost the demand for extracorporeal membrane oxygenation machines.

Increase in the frequency of cardiovascular disorders and a large number of ECMO centers. According to the most available WHO data, coronary heart disease fatalities accounted for 16.54 percent of all deaths in Belgium in 2018. In addition, according to the Belgian Society for Extracorporeal Technology, the Coronavirus has boosted the use of venovenous ECMO. It is due to the virus's propensity for affecting lung function.

KEY MARKET PLAYERS:

Prominent Companies dominating the Europe Extracorporeal Membrane Oxygenation Machine Market Profiled in the Report are Getinge Group, Medtronic plc, LivaNova PLC, XENIOS AG, Terumo Corporation, MicroPort Scientific Corporation, NIPRO Corporation, OriGen Biomedical Inc., ALung Technologies Inc., and EUROSETS S.r.l.