Extracorporeal Membrane Oxygenation Market - By Modality (Venoarterial, Veno-venous, Arteriovenous), By Application (Cardiac, Respiratory, Extracorporeal Cardiopulmonary Resuscitation), By Patient Population (Infant, Pediatric, Adult) & Global Forecast, 2

Extracorporeal Membrane Oxygenation Market - By Modality (Venoarterial, Veno-venous, Arteriovenous), By Application (Cardiac, Respiratory, Extracorporeal Cardiopulmonary Resuscitation), By Patient Population (Infant, Pediatric, Adult) & Global Forecast, 2023 - 2032

The global extracorporeal membrane oxygenation (ECMO) market is speculated to grow significantly through 2032 owing to increasing government initiatives as well as programs in Europe.

The prevalence of respiratory and cardiovascular illnesses has increased dramatically throughout the European region in recent years, and this trend is expected to continue over the forecast time. An increase in CVD cases has led to introduction of government measures and implementation of different programs in the area to raise public awareness. Government funding for infrastructure development in emerging nations would help make expensive machines more accessible, which will boost industry revenue growth.

For instance, in January 2021, Braile Biomedica, in collaboration with the Eldorado Institute and Embrapii, introduced the SOLIS System, a nationwide product against COVID-19. Extracorporeal membrane oxygenation (ECMO), a type of extracorporeal breathing, makes up the system. The corporation has benefited from such product introductions in securing its market position.

The ECMO market has been divided in terms of approach, type, patient population, and region.

Based on approach, the veno-venous (VV) segment held more than $180 million in 2022. The veno-venous ECMO device increases blood flow and oxygen levels while reducing cardiac effort and supporting hemodynamics. There will likely be a rise in demand for veno-venous ECMO through the forecast years due to the growing burden of cardiopulmonary diseases.

With respect to type, the respiratory segment is poised to grow at more than 3% CAGR from 2023 to 2032. A significant factor in the segment's growth is the risk of respiratory failure among individuals with different respiratory illnesses. Besides, the expanding geriatric population that is vulnerable to respiratory ailments, would further complement the growing market landscape.

In terms of the patient population, the adult segment is projected to foresee positive market expansion through the forecast years. The need for ECMO treatments will be driven by the growing elderly population base and the rise in the number of people with infectious and chronic diseases. Moreover, advancements in ECMO technology for treating adults is likely to contribute to the industry expansion.

From the regional front, the Latin America extracorporeal membrane oxygenation (ECMO) market is estimated to grow at more than 4% CAGR from 2023 to 2032. The expansion is fueled by the burgeoning use of cutting-edge ECMO technology in healthcare settings in LATAM nations along with the region's rising respiratory and cardiac disease rates. Additionally, the regional expansion will also benefit from the increased ECMO device demand in the COVID-19-affected nations.