The size of the North America Extracorporeal Membrane Oxygenation Machine Market is expected to grow at a 4.12% CAGR from 2023 to 2028. It is projected that the North-America market was valued at USD 102.03 million in 2023 and is anticipated to reach USD 124.86 million by 2028.
Y-O-Y growth in the incidence of the diseases due to respiratory infections, smoking, and air pollution is majorly accelerating the North American ECMO market. For instance, MC3 Cardiopulmonary received US FDA acceptance for Crescent jugular dual lemen catheter in the United States for Extracorporeal Membrane Oxygenation. Growing adoption of advanced technical products and changes in lifestyle habits resulting in chronic diseases like cardiac and respiratory diseases escalating the need for ECMO in the region. An increasing number of innovations and advanced technologies in these ECMO machines and a rise in awareness in people relevant to widespread application areas giving output for massive demand among the hospitals. Increasing healthcare expenditure by government organizations to enhance healthcare services fueling the growth of ECMO in the market. Medical expenses related to cardiovascular diseases are projected to reach $960 billion by 2030, from $320 billion in 2011.
Adverse effects that may occur during the time of the treatment due to technical failure causing infections and bleeding are likely to restrain the ECMO market growth during the analysis period. Also, the high cost of the treatment and the therapies associated with ECMO and scarcity of expert professionals impedes the market.
This research report on the North America Extracorporeal Membrane Oxygenation Machine Market has been segmented and sub-segmented into the following categories:
Regional Analysis:
North America held the largest share in the global ECMO market in 2019. The favorable reimbursement scenario, rising incidence of lung cancer, and the presence of a large number of ECMO centers in the U.S. are expected to boost the market for ECMO systems in North America.
North America in this market is dominating globally over the period. The growth of the market in this region is attributed due to the growing number of cardiovascular and respiratory diseases and the surging number of ECMO centers. United States is projected to bolster the ECMO market in the region. Acceptable reimbursement policies like Medicare and Medicaid reimburse for the patients going through the extracorporeal membrane oxygenation process are projected to foster market growth during the review period. Growing occurrences of health conditions like swine flu lead to the adoption of ECMO machines in hospitals and clinics. Canada is anticipated to have notable growth after the US in the ECMO market during the period. The market in this region is caused by a firmly established healthcare infrastructure and the appearance of a considerable number of extracorporeal life support organizations.
Promising Companies leading the North America 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.
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