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North America ECMO Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Modality (Venoarterial ECMO, Venovenous ECMO, and Arteriovenous ECMO), Application (Respiratory and Cardiology), and Age Group (Adults, Pediatrics, and Neonates)
Market Report I 2023-01-24 I 115 Pages I The Insight Partners
The North America ECMO market is expected to grow from US$ 227.85 million in 2022 to US$ 277.36 million by 2028. It is estimated to record a CAGR of 3.3% from 2022 to 2028.
Surging Product Developments and Approvals to Drive North America ECMO Market Growth in Future
Advancements in medical technology and innovations and an increase in investments in R&D by manufacturers have resulted in the launch of various medical devices, including ECMO. Market players are involved in various product development activities. In October 2020, FDA granted 510(k) clearance to Abiomed's ECMO system called Abiomed Breethe OXY-1 System. It can be used for treating patients suffering from COVID-19 and cardiogenic shock. The system provides cardiopulmonary bypass support for patients whose lungs cannot provide sufficient end organ oxygenation. Similarly, in April 2020, Getinge received a temporary expansion of the availability of devices used for ECMO therapy in the US. As per this extension, Cardiohelp and HLS Advanced Sets can be used for >6 hours for COVID-19 patients with respiratory/cardiopulmonary support. Further, in February 2020, FDA cleared Novalung, a heart and lung support system used to treat acute respiratory and cardiopulmonary failure. Novalung is the first extracorporeal membrane oxygenation system to be cleared for more than six hours of use as extracorporeal life support. Many product approvals and developments in the ECMO market are enabling healthcare professionals to provide improved services. These developments help system manufacturers meet the rising demand for technically advanced systems that can efficiently treat patients suffering from cardiac and respiratory failure conditions. Thus, growing product development and approvals of ECMO products are expected to drive the growth of the North America ECMO market during the forecast period.
North America ECMO Market Overview
The North America is the largest market for ECMO. The US, Canada, and Mexico are main contributors to the regional market. The US dominated the North America ECMO market in 2022. According to the US Centers for Medicare & Medicaid Services, the national healthcare expenditure in the US increased by 9.7% in 2019 to reach US$ 4.1 trillion in 2020. Furthermore, national health spending is expected to grow at a 5.4% annual rate from 2019 to 2028, and it is expected to reach US$ 6.2 trillion by 2028. The rising healthcare expenditure is estimated to increase the adoption of various equipment for patient care, which would fuel the demand for ECMO in the country during the forecast period. The prevalence of cardiovascular diseases in the US is much higher, as more than 50% population is suffering from different types of cardiovascular disease. According to the Centers for Disease Control and Prevention (CDC), every year, more than 0.6 million people die due to cardiovascular disease; this nearly accounts for one in every four deaths. The primary cause of cardiovascular disease among people is hypertension, obesity, and diabetes. According to the American Heart Association, in January 2019, it was reported that over 130 million or 45.1% of people are likely to have some form of cardiovascular disease by 2035. Thus, the growing prevalence of cardiovascular diseases is expected to propel the demand for ECMO in the coming years.
North America ECMO Market Revenue and Forecast to 2028 (US$ Million)
North America ECMO Market Segmentation
The North America ECMO market is segmented on the basis of modality, application, age group, and country.
Based on modality, the North America ECMO market is segmented into venoarterial ECMO, venovenous ECMO, and arteriovenous ECMO. The venoarterial ECMO segment held the largest market share in 2022.
Based on application, the North America ECMO market is bifurcated into respiratory and cardiology. The respiratory segment held a larger market share in 2022.
Based on age group, the North America ECMO market is segmented into adults, pediatrics, and neonates. The adults segment held the largest market share in 2022.
Based on country, the North America ECMO market is segmented into the US, Canada, and Mexico. The US dominated the market in 2022.
ABIOMED Inc, Braile Biomedica, Eurosets S.R.L., Fresenius Medical Care AG & Co KGaA, Getinge AB, LivaNova Plc, Medtronic Plc, MicroPort Scientific Corporation, Nipro Medical Corporation, and Terumo Group are among the leading companies operating in the North America ECMO market.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America ECMO Market - By Modality
1.3.2 North America ECMO Market - By Application
1.3.3 North America ECMO Market - By Age Group
1.3.4 North America ECMO Market - By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America ECMO Market - Market Landscape
4.1 Overview
4.2 North America PEST Analysis
4.3 Experts Opinion
5. North America ECMO Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Prevalence of Cardiovascular Diseases and Respiratory Failures
5.1.2 Growing Adoption of ECMO in Lung Transplantation Procedures
5.2 Market Restraints
5.2.1 Complications Associated with ECMO
5.3 Market Opportunities
5.3.1 Increasing Survival Rates with ECMO
5.4 Future Trends
5.4.1 Surging Product Developments and Approvals
5.5 Impact Analysis
6. ECMO Market - North America Analysis
6.1 North America ECMO Market Revenue Forecast & Analysis
7. North America ECMO Market Analysis - By Modality
7.1 Overview
7.2 North America ECMO Market Share by Modality 2021 & 2028 (%)
7.3 Venoarterial ECMO
7.3.1 Overview
7.3.2 Venoarterial ECMO: ECMO Market Revenue and Forecast to 2028 (US$ Million)
7.4 Venovenous ECMO
7.4.1 Overview
7.4.2 Venovenous ECMO: ECMO Market Revenue and Forecast to 2028 (US$ Million)
7.5 Arteriovenous ECMO
7.5.1 Overview
7.5.2 Arteriovenous ECMO: ECMO Market Revenue and Forecast to 2028 (US$ Million)
8. North America ECMO Market Analysis - By Application
8.1 Overview
8.2 North America ECMO Market, By Application 2021 & 2028 (%)
8.3 Cardiology
8.3.1 Overview
8.3.2 Cardiology Market Revenue and Forecast to 2028 (US$ Mn)
8.4 Respiratory
8.4.1 Overview
8.4.2 Respiratory Market Revenue and Forecast to 2028 (US$ Mn)
9. North America ECMO Market Analysis - By Age Group
9.1 Overview
9.2 North America ECMO Market, By Age Group 2021 & 2028 (%)
9.3 Neonates
9.3.1 Overview
9.3.2 Neonates Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Pediatrics
9.4.1 Overview
9.4.2 Pediatrics Market Revenue and Forecast to 2028 (US$ Mn)
9.5 Adults
9.5.1 Overview
9.5.2 Adults Market Revenue and Forecast to 2028 (US$ Mn)
10. North America ECMO Market - Country Analysis
10.1 Overview
10.1.2 North America: ECMO Market, by Country, 2021 & 2028 (%)
10.1.2.1 US: ECMO Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.1.1 Overview
10.1.2.1.2 US: ECMO Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.1.3 US: ECMO Market, by Modality, 2020-2028 (US$ Million)
10.1.2.1.4 US: ECMO Market, by Application, 2020-2028 (US$ Million)
10.1.2.1.5 US: ECMO Market, by Age Group, 2020-2028 (US$ Million)
10.1.2.2 Canada: ECMO Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.2.1 Overview
10.1.2.2.2 Canada: ECMO Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.2.3 Canada: ECMO Market, by Modality, 2020-2028 (US$ Million)
10.1.2.2.4 Canada: ECMO Market, by Application, 2020-2028 (US$ Million)
10.1.2.2.5 Canada: ECMO Market, by Age Group, 2020-2028 (US$ Million)
10.1.2.3 Mexico: ECMO Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.3.1 Overview
10.1.2.3.2 Mexico: ECMO Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.3.3 Mexico: ECMO Market, by Modality, 2020-2028 (US$ Million)
10.1.2.3.4 Mexico: ECMO Market, by Application, 2020-2028 (US$ Million)
10.1.2.3.5 Mexico: ECMO Market, by Age Group, 2020-2028 (US$ Million)
11. Industry Landscape
11.1 Overview
11.2 Inorganic Growth Strategies
11.2.1 Overview
11.3 Organic Growth Strategies
11.3.1 Overview
12. Company Profiles
12.1 Terumo Group
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Medtronic Plc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 MicroPort Scientific Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 LivaNova Plc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Nipro Medical Corporation
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Eurosets S.R.L.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Getinge AB
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Braile Biomedica
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Fresenius Medical Care AG & Co KGaA
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 ABIOMED Inc
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. North America ECMO Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. US ECMO Market, by Modality - Revenue and Forecast to 2028 (US$ Million)
Table 3. US ECMO Market, by Application- Revenue and Forecast to 2028 (US$ Million)
Table 4. US ECMO Market, by Age Group- Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada ECMO Market, by Modality - Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada ECMO Market, by Application- Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada ECMO Market, by Age Group- Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico ECMO Market, by Modality - Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico ECMO Market, by Application- Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico ECMO Market, by Age Group- Revenue and Forecast to 2028 (US$ Million)
Table 11. Recent Inorganic Growth Strategies
Table 12. Recent Organic Growth Strategies
Table 13. Glossary of Terms
LIST OF FIGURES
Figure 1. North America ECMO Market Segmentation
Figure 2. North America ECMO Market, By Country
Figure 3. North America ECMO Market Overview
Figure 4. North America ECMO Market, By Modality
Figure 5. North America ECMO Market, By Country
Figure 7. North America: PEST Analysis
Figure 8. Experts Opinion
Figure 9. Impact Analysis: North America ECMO Market
Figure 10. North America ECMO Market - Revenue Forecast and Analysis
Figure 11. North America ECMO Market Share by Modality 2021 & 2028 (%)
Figure 12. Venoarterial ECMO: North America ECMO Market Revenue and Forecast To 2028 (US$ Million)
Figure 13. Venovenous ECMO: North America ECMO Market Revenue and Forecast To 2028 (US$ Million)
Figure 14. Arteriovenous ECMO: North America ECMO Market Revenue and Forecast To 2028 (US$ Million)
Figure 15. North America ECMO Market, by Application 2021 & 2028 (%)
Figure 16. Cardiology : North America ECMO Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 17. Respiratory : North America ECMO Market Revenue and Forecasts To 2028 (US$ MN)
Figure 18. North America ECMO Market, by Age Group 2021 & 2028 (%)
Figure 19. Neonates : North America ECMO Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 20. Pediatrics : North America ECMO Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 21. Adults : North America ECMO Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 22. North America: ECMO Market, by Key Country - Revenue (2021) (US$ Million)
Figure 23. North America: ECMO Market, by Country, 2021 & 2028 (%)
Figure 24. US: ECMO Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. Canada: ECMO Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Mexico: ECMO Market - Revenue and Forecast to 2028 (US$ Million)
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