According to the business intelligence report titled ‘GLOBAL Extra Corporeal Membrane Oxygenation (Ecmo) System Market 2019-2028’, available with Market Study Report, global extra corporeal membrane oxygenation (ECMO) system market is anticipated to exhibit a compound annual growth rate of 4.81% during the analysis timeframe of 2019-2028.
 

As per the report findings, growing prevalence of chronic ailments such as cardiovascular disease and respiratory disorders coupled with favorable government initiatives aimed at creating awareness regarding ECMO technology are bolstering global extra corporeal membrane oxygenation system market growth.
 

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Ongoing technological advancements, strategic alliances such as acquisitions & mergers, and innovative product launches by market majors are adding substantial traction to the industry expansion. Furthermore, widespread applications of ECMO technology across several industry verticals is stimulating the demand for the systems.
 

On the contrary, high costs associated with the systems, availability of alternative techniques for treating respiratory and cardiopulmonary diseases, and lack of skilled laborers will continue to restrain global extra corporeal membrane oxygenation system market expansion. 
 

Regionally speaking, North America is expected to emerge as a lucrative growth avenue for global extra corporeal membrane oxygenation system industry through 2028, on account of adoption of sedentary and unhealthy lifestyles and rising prevalence of chronic ailments, primarily type-2 diabetes, cardiovascular diseases, and obesity.
 

Elaborating on competitive landscape, Terumo Medical Corp, Eurosets, MicroPort Scientific Corp, Medtronic plc, Xenios AG, Abbott Laboratories LivaNova plc, Elsius Biomedical Inc, ALung Technologies Inc, Nipro Corp, Spectrum Medical Inc, OriGen Biomedical Inc, Getinge AB, and Hemovent GmbH are the top organizations influencing worldwide extra corporeal membrane oxygenation system market trends.