The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The Europe, MEA, and CIS extracorporeal membrane oxygenation (ECMO) machine market size is anticipated to reach USD 122.14 million by 2026, according to a new report by Grand View Research, Inc. It is expected to exhibit a CAGR of 4.5% over the forecast period. Key factors contributing to the growth include increasing prevalence of respiratory failure and cardiopulmonary diseases and growing awareness regarding the benefits associated with the usage of ECMO machine. Moreover, rise in the number of patients suffering from Chronic Obstructive Pulmonary Disease (COPD) is anticipated to create demand for ECMO treatment.
High adoption of these devices can be attributed to introduction of innovative products and approval by regulatory bodies. In August 2017, the Ministry of Health (MoH) announced the launch of ECMO services in Asir region. This service was made available at three MoH’s healthcare centers located in Jeddah, Riyadh, and Dammam. Increased adoption of ECMO machines in hospitals and medical centers is anticipated to propel growth of Europe, MEA, and CIS extracorporeal membrane oxygenation machine market during the forecast period. According to Cincinnati Children’s Hospital Medical Center, survival rate without and with ECMO is about 20% and 60%, respectively. ECMO also helps in ventilation, oxygenation, and cardiac output. Such advantages provided have increased the adoption of these systems in hospitals, which in turn is projected to boost the Europe, MEA, and CIS ECMO machine market in the next few years.
Further Key findings from the study suggest:
- Middle East and Africa hold significant potential for ECMO machines owing to the increasing prevalence of cardiac and respiratory diseases
- Veno-arterial is expected to witness the fastest CAGR of 4.9% over the forecast period, driven by the increasing application in patients suffering from cardiovascular collapse
- Increasing number of government funding programs to reduce burden of cardiopulmonary diseases is anticipated to facilitate market growth
- Respiratory segmented led with a market share of over 40% in 2018, attributed to the increasing number of patients suffering from respiratory conditions
- Veno-arterial segment led the extracorporeal membrane oxygenation market in 2018 and is expected to register a CAGR 4.9% over the forecast period. Due to technological advancements, VA-ECMO is used to treat patients suffering from pulmonary embolism and pulmonary hypertension, especially in the case of acute decompensation
- Growing number of intensive care units in Saudi Arabia, Turkey, Kuwait, and other countries is likely to boost market growth during the forecast period