PUBLISHER: Grand View Research | PRODUCT CODE: 1474874
PUBLISHER: Grand View Research | PRODUCT CODE: 1474874
The global extracorporeal membrane oxygenation cannula market size is anticipated to reach USD 43.8 million by 2030, registering a CAGR of 4.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing prevalence of respiratory & cardiac disorders is the major factor contributing to market growth. For instance, in November 2023, the National Health Commission in China noted a rise in respiratory illnesses, attributing it to the relaxation of COVID-19 measures and the presence of familiar pathogens like influenza, mycoplasma pneumonia, respiratory syncytial virus (RSV), and SARS-CoV-2. The global healthcare landscape is significantly influenced by the expanding elderly population, leading to a surge in age-related ailments, such as heart and lung diseases.
The World Health Organization (WHO) predicted that by 2030, one in every six people worldwide will be aged 60 years or older, with the population in this age group projected to increase from 1 billion in 2020 to 1.4 billion. Conditions, such as congestive heart failure, chronic obstructive pulmonary disease (COPD), and pulmonary fibrosis, frequently culminate in respiratory or cardiac failure, often necessitating advanced life support interventions like ECMO therapy. As such, the prevalence of these conditions underscores the importance of enhancing healthcare infrastructure and services to cater to the evolving needs of aging populations globally. Moreover, ECMO is utilized in instances of cardiac or respiratory failure when conventional interventions like Cardiopulmonary Resuscitation (CPR) have not yielded success.
Its utilization spans a spectrum of medical scenarios, encompassing Extracorporeal CO2 Removal (ECCO2R), pediatric and neonatal care, acting as a conduit to recovery or transplantation, facilitating in-hospital transport, managing cardiac arrest, and addressing both cardiac and respiratory failure. Furthermore, there has been a growing acceptance of ECMO for in-hospital transport within critical care environments. As per an article published by the National Institute of Health (NIH) in August 2023, adults suffering from obesity may find extracorporeal membrane oxygenation (ECMO), an advanced form of respiratory support, beneficial during intensive care for respiratory failure. Hence, the growing applications of ECMO are expected to contribute to market growth.