According to a research 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 projected to record 4.81% CAGR over the forecast period 2019-2028.
 

Report findings state that widespread penetration of ECMO technology due to its broadening application scope along with technological advancements are spurring the market growth. Besides, rising prevalence of chronic ailments such as cardiovascular and respiratory diseases, and awareness initiatives undertaken by governments and other authorities are fostering global extra corporeal membrane oxygenation (ECMO) system market development.
 

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Availability of alternative techniques like vaccinations and anti-inflammatory therapy for the treatment of cardiopulmonary and respiratory diseases, in consort with the elevated costs of ECMO systems are likely to restrain market growth in the ensuing years. Moreover, lack of skilled professionals and high risks associated with ECMO procedures are expected to pose a challenge for the market expansion.
 

Based on application ambit, global extra corporeal membrane oxygenation (ECMO) system market is arrayed into respiratory and cardiac. By modality, the industry segmentation comprises veno-arterial, veno-venous and other modalities.
 

Considering the geographical outlook, North America industry is slated to register a remarkable growth rate during the forecast period. This is attributed to the rising burden of cardiovascular diseases caused by prevalence of high blood pressure, obesity, type-2 diabetes and unhealthy lifestyle, especially in the U.S.
 

For the record, in 2016, Centers for Disease Control and Prevention (CDC), reported that cardiovascular disease was the leading cause of death in the U.S., indicating an increased demand for extracorporeal membrane oxygenation (ECMO) systems in North America.
 

Key contenders in global extra corporeal membrane oxygenation (ECMO) system market space are OriGen Biomedical Inc., Nipro Corp., Getinge AB, Medtronic plc, Xenios AG (Fresenius SE & Co. KGaA), Spectrum Medical, Eurosets S.r.l, ALung Technologies Inc., Abbott Laboratories, Elsius Biomedical Inc., Terumo Medical Corp., MicroPort Scientific Corp, LivaNova plc, and Hemovent GmbH.