19 Apr 2021
Posted in Medical Devices
Australia’s extracorporeal membrane oxygenation devices market to grow at 6% over next five years, forecasts GlobalData
The extracorporeal membrane oxygenation (ECMO) devices market in Australia grew by 25% between 2019 and 2020 and is expected to grow at a compound annual growth rate (CAGR) of about 6% between 2021 and 2025, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Extracorporeal Membrane Oxygenation (ECMO) Devices (Cardiovascular Devices) Global Market Analysis and Forecast model (Covid 19 market impact)’ reveals that Getinge USA Inc was the leading player in the Australian ECMO devices market in 2020, followed by Terumo Corp. Together these two companies accounted for around 80% of the total market in 2020.
Tanisha Verma, Medical Devices Analyst at GlobalData, comments: “Increase in the number of patients with severe COVID-19 infection has resulted in increased incidence of acute respiratory distress syndrome (ARDS), and this is majorly driving the ECMO devices market in Australia. Increasing awareness and prevalence of heart and lung diseases are the other factors contributing to the market growth.”
ECMO remains reserved for patients requiring critical interventional therapy due to the inability to oxygenate the blood, maintain adequate tissue perfusion with oxygenated blood, or both. Due to the risks associated with ECMO procedures, its usage for non-critical patients remains unlikely.
Ms Verma concludes: “ECMO devices are playing a major role in treating high risk COVID-19 infected patients. However, factors such as high cost, lack of sufficient trained staff, complications such as blood clots, limb ischemia and difficulty in mitigating bleeding disorders during ECMO procedures need to be addressed to increase the market penetration of these devices in future.”