(I-BusinessNews.Com, March 17, 2021 ) According to the market research report ECMO machine market for the forecast period of 2016 to 2021. This market is expected to reach USD 305.3 Million by 2021 from USD 247.2 Million in 2016, at a CAGR of 4.3%.
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A number of key players are competing against each other to expand their existing customer base. Getinge Group (Sweden), Medtronic plc (Ireland), and LivaNova PLC (U.K.) are the top three players of the extracorporeal membrane oxygenation (ECMO) machine market.
Getinge Group is the largest player in the global ECMO Machine Market. The company offers its ECMO products under its Maquet brand. The firm develops and commercializes ECMO products and is one of the leading manufacturers of heart-lung machines, oxygenators, pumps, catheters, cannulae, and other accessories. The company’s business segments include Medical Systems, Extended Care, and Infection Control. The Medical Systems segment offers a wide range of ECMO devices. The company also develops innovative products such as CARDIOHELP system which is a portable heart-lung support system in the market. Moreover, in September 2015, the company partnered with iMDsoft GmbH (Germany) to offer clinical information systems to reduce the documentation process time of heart-lung machines, blood/gas monitors, and heater-cooler units. The firm also remains committed to investing ~4.2% of its revenue in R&D activities; in 2015, the company invested USD 150 million on R&D. The company has succeeded in creating a strong foothold owing to its long-term presence in the market, a wide geographic presence, strong sales force, and innovative product offerings.
Medtronic plc (Ireland) is the second-largest player in the global market. The company develops, manufactures, and supplies a broad range of ECMO machines. The company produces and markets oxygenation systems, centrifugal pumps, cannulae, and tubing packs. The company offers its ECMO products through the cardiac and vascular group. The company practices globalization strategy by offering solutions tailored to market needs and expanding access to emerging markets. The company focuses on the rapid and cost-effective delivery of its products to a diverse group of customers. In December 2014, Medtronic launched its Affinity Fusion Oxygenator System in Taiwan, China. Similarly, in November 2015, the company launched its Affinity CP Centrifugal Blood Pump in the Brazilian market. Medtronic has gained a major share in the market on account of its widespread geographical presence, and focus on R&D activities.
The other players of the ECMO Machine Market are XENIOS AG (Germany), Terumo Corporation (Japan), MicroPort Scientific Corporation (China), NIPRO Corporation (Japan), OriGen Biomedical, Inc. (U.S.), ALung Technologies, Inc. (Germany), and EUROSETS S.r.l. (Italy).
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On the basis of region, the ECMO Machine Market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America accounted for the largest share of the market, followed by Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific market is projected to grow at the highest CAGR and serve as a revenue pocket for companies offering ECMO systems.
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