As Per the report, the Latin America Extracorporeal Membrane Oxygenation Machine Market Size is valued at USD 50.61 million in 2022 and is predicted to reach USD 63.19 million by 2027, projected to reach at a CAGR of 4.54% during the forecast period 2022 to 2027.
The market is growing due to an increase in the number of cases of cardiovascular and respiratory diseases. Increased use of extracorporeal membrane oxygenation as a bridge to lung transplantation and increased the number of extracorporeal membrane oxygenation facilities, conferences, and training programs to raise awareness to contribute to market growth.
Factors such as the rise in the senior population and the number of people suffering from the diseases in populated countries are expected to fuel market growth.
Increase in the consumption of an unhealthy lifestyle and the resulting development of lifestyle disorders is expected to increase the incidence rate of COPD. Identified risk factors fuel the market's expansion, such as the rising tobacco consumption tendency among men and women.
Emerging economies appeal to investors compared to developed nations because of their fragmented healthcare business and large operating margins. In addition, manufacturing medical devices in underdeveloped countries lower the overall production cost, lowering the product's price without compromising quality.
However, lack of skilled doctors and high therapy costs are restraining the extracorporeal membrane oxygenation devices market. Therefore, a few obstacles must be overcome to penetrate the market effectively. One of the challenging problems associated with using these machines is the increased risk of respiratory infections.
This research report on the Latin America Extracorporeal Membrane Oxygenation Machine Market has been segmented and sub-segmented into the following categories
By Modality:
By Application:
By Country:
Geographically, the Latin America market for extracorporeal membrane oxygenation machines is growing at a steady pace. It is estimated to grow at the fastest CAGR during the forecast period. The Latin America extracorporeal membrane oxygenation machine market includes countries such as Mexico, Brazil, Argentina, Chile, and the rest of Latin America.
Brazil extracorporeal membrane oxygenation machines market is the region's leader in the extracorporeal membrane oxygenation machines market. It is a life-sustaining device used in critically ill patients suffering from pulmonary, cardiac, and cardiac failure. Countries like Brazil, Mexico, and the rest of Latin America help keep the extracorporeal membrane oxygenation system in check throughout the region.
On the other hand, Mexico extracorporeal membrane oxygenation machines market is anticipated to witness a considerable share in extracorporeal membrane oxygenation machines. According to the World Health Organization (WHO), ischemic heart disease caused roughly 85,961 deaths in Mexico. In addition, the first successful bilateral lung transplant using extracorporeal membrane oxygenation systems was performed in Mexico in 2017.
KEY MARKET PLAYERS
Noteworthy Companies dominating the Latin America Extracorporeal Membrane Oxygenation Machine Market Profiled in the Report are Getinge Group, Medtronic plc, LivaNova PLC, XENIOS AG, Terumo Corporation, MicroPort Scientific Corporation, NIPRO Corporation, OriGen Biomedical Inc., ALung Technologies Inc. and EUROSETS S.r.l.
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