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Posted by smithmorgan on September 10, 2024 at 9:22am 0 Comments 0 Likes
Posted by smithmorgan on September 10, 2024 at 9:21am 0 Comments 0 Likes
Posted by smithmorgan on September 10, 2024 at 9:20am 0 Comments 0 Likes
Posted by smithmorgan on September 10, 2024 at 9:20am 0 Comments 0 Likes
The major factors driving the growth of the ECMO machine market are the growing geriatric population and the subsequent increase in disease prevalence and favorable government regulations, investments, and initiatives. The advantages of ECMO machines have played a key part in their adoption; their speed and accuracy, as well as quick processing times. This has pushed companies to focus on product development and innovation. However, factors such as declining reimbursements, lack of infrastructure (particularly in developing and underdeveloped countries), and the potential risks are expected to hinder the growth of this market.
Rapid growth in the global geriatric population is an important cause for the rising incidence of target diseases. According to the United Nations (UN), in 2019, there were approximately 703 million people aged 65 or older globally, and this population segment is projected to reach 1.5 billion by 2050. With the rapid growth in the geriatric population globally, the prevalence of age-associated diseases such as cardiovascular diseases, cancer, arthritis, and dementia is expected to increase as well. These diseases call for early diagnosis and improved diagnostic imaging capabilities, thereby promoting the adoption of ECMO machines among end users.
On the basis of applications, the Extracorporeal Membrane Oxygenation Machine Market is segmented into respiratory, cardiac and ECPR applications. The respiratory segment is expected to dominate this market during the forecast period. Growth in this market can be attributed to the increasing prevalence of target diseases, high demand for early diagnosis and diagnostic imaging, and technological advancements in the ECMO machine market. Moreover, the rising prevalence of lung diseases like tuberculosis, thoracic malignancies, osteoporosis, fractures, and CVDs increases the demand for medical imaging for diagnosis.
On the basis of modality, the Extracorporeal Membrane Oxygenation Machine Market is segmented into veno-arterio, veno-venous and arterio-venous. The arterio-venous segment accounted for the larger market share. The advantages associated with this segment, such as effective dynamic range, better medical evaluation, are contributing to the growth of this technology segment.
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