According to the research report titled “Extracorporeal Membrane Oxygenation Market Size By Modality (Venoarterial, Veno-venous, Arteriovenous), By Application (Cardiac, Respiratory, Extracorporeal Cardiopulmonary Resuscitation), By Patient Population (Infant, Pediatric, Adult), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021-2027”, available with MarketStudyReport, extracorporeal membrane oxygenation market is expected to witness rapid growth during the forecast period 2021-2027.
 

As per the findings of the report, rising prevalence of disorders that affect the heart and lungs is expected to drive extracorporeal membrane oxygenation market throughout the projected timeframe.
 

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For the unversed, extracorporeal membrane oxygenation (EMCO) is a life support machine that is used to provide aid to people who have a serious life-threatening condition that attacks their heart or lungs.
 

Elaborating on COVID-19 impact, the pandemic favored the industry growth as global health organizations such as World Health Organization (WHO) encouraged the use of extracorporeal membrane oxygenation (ECMO) in patients with acute respiratory distress syndrome (ARDS), resulting in increased research activities into its efficacy.
 

Further, publication platform Intensive Care Medicine, in 2020, evaluated the effects of ECMO on COVID-19 mortality, revealing that ECMO could help lower mortality rate in coronavirus patients with severe respiratory failure and improve patient outcomes.
 

Based on modality, global extracorporeal membrane oxygenation industry size from veno-venous sub-segment is predicted to increase significantly owing to the benefits to patients who require temporary lung help and cardiopulmonary support.
 

From the application perspective, respiratory sub-segment is estimated to witness significant growth by the end of forecast timeframe on account of proliferating demand for respiratory assistance devices among COVID-19 patients.
 

With respect to patient population, the market is segmented into pediatric, infant, and adult. Out of which, adult sub-segment represented roughly 40% of market revenue in 2020, and it is expected to grow at a robust rate in coming years.
 

Based on regional analysis, North America represented over 60% of worldwide extracorporeal membrane oxygenation market revenue in 2020 and is anticipated to continue serving as lucrative growth avenue due to rise in consumer spending power and high concentration of several ECMO facilities in U.S.
 

Speaking of the competitive landscape, Terumo Corporation, Spectrum Medical, Original Biomedical, Nipro Corporation, MicroPort Scientific Corporation, Medtronic plc, LivaNova plc, Getinge Group, Eurosets Srl are among the major players influencing the industry trends.