Market Leader - Extracorporeal Membrane Oxygenation Machine Market
The global ECMO machine market is expected to reach USD 673 million by 2026 from an estimated USD 531 million in 2021, at a CAGR of 4.9% from 2021 to 2026.
An ECMO machine acts as an artificial heart and lung for a patient whose own heart or lungs cannot provide enough blood flow or get enough oxygen into the blood. ECMO is used after other methods of supporting the heart and lungs do not work. The goal of the ECMO is to let the heat and lungs recover while the patient is supported by the ECMO machine. The major factors driving the growth of this market include the increasing geriatric population and growth in disease incidence as well as favorable government regulations, investments, and initiatives. The advantages of ECMO machines have played a key part in their adoption; their speed and accuracy, as well as quick processing times. This has pushed companies to focus on product development and innovation. However, these systems are priced at a premium, which slows their greater adoption.
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The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2018–2020 to expand their global presence and increase their market shares in the ECMO machine market. The key growth strategies adopted by the top players in the market include product launches and approvals, agreements, expansions, and acquisitions. Product approvals and launches were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market. The ECMO machine market is dominated by Fresenius Medicalcare AG & Co. KGAA(Germany), Getinge Group (Sweden), Medtronic plc (US), and Microport (China).
Fresenius Medical Care AG & Co. KgaA is one of the leading providers of ECMO products and services to patients. The company operates through two business divisions- Healthcare Services and Healthcare Products. The Healthcare Products division includes two major segments, namely, Dialysis Products ad Non-Dialysis Products. It focuses on inorganic and organic growth strategies, including new product launches, partnerships, and agreements, to enhance and maintain its position in the market. The company has launched various products in the ECMO machine market in the last three years and is constantly engaged in R&D for product innovation. The company has a wide geographic presence in Europe, Africa, the Middle East, Asia, Australia, and the US, and is constantly engaged in strategic deals and partnerships to promote growth in the market.
Getinge Group’s leading position in the ECMO machine market can be attributed to its robust product portfolio. The firm offers a wide range of products for cardiac assist, cardiac surgery, cardiopulmonary, critical care, vascular systems, surgical workflows, infection control, contamination prevention, post-acute care, sterilization sand life sciences. Getinge Group is an innovation-centric company that launches advanced products to meet consumer requirements. To strengthen its position in the ECMO machine market, the company also focuses on adopting inorganic strategies such as agreements, partnerships, and collaborations. The company primarily operates in the Americas, EMEA and APAC. It also has a strong sales and distribution network that allows the company to market its products across the globe.
Related Reports:
Extracorporeal Membrane Oxygenation Machine Market by Product, Component, Patient Type (Neonates, Pediatrics and Adults), Modality Outlook (Veno-Venous, Veno-Arterio and Arterio-Venous), Applications, and Region - Global Forecast to 2026
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