Mechanical ventilation primarily supports respiratory function, while an IABP provides temporary circulatory support in cardiac failure. ECMO, on the other hand, offers comprehensive cardiopulmonary support and can be tailored to provide respiratory, cardiac, or combined support in critically ill patients with severe respiratory or cardiac failure. Each modality has specific indications, limitations, and risks, and the choice of therapy depends on the underlying pathology, patient characteristics, and available resources.