Cardiopulmonary Oxygenator Market is expected to reach US$ 904.15 million by 2028

Membrane Oxygenator Segment to Hold Largest Market Share During 2022–2028

According to our new research study on "Cardiopulmonary Oxygenator Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, Type, Age Group, and End Use," the cardiopulmonary oxygenator market size is expected to grow from US$ 716.21 million in 2022 to US$ 904.15 million by 2028; it is estimated to record a CAGR of 4.0% from 2022 to 2028. The report highlights the trends and drivers prevailing in the market. A rise in the prevalence of cardiopulmonary disorders and an increase in surgical procedures with a surge in the geriatric population are among the factors propelling the cardiopulmonary oxygenator market growth.

Based on the product, the cardiopulmonary oxygenator market is bifurcated into membrane oxygenators and bubble oxygenators. The membrane oxygenator segment held the larger market share in 2022 and is anticipated to register a higher CAGR during the forecast period. Based on application, the cardiopulmonary oxygenator market is bifurcated into cardiac and respiratory. The cardiac segment is further segmented into acute myocardial infarction, myocarditis, post-transplant complications, decompensated cardiomyopathy, and others. The respiratory segment is fragmented into respiratory failure, acute respiratory distress syndrome, pulmonary embolism, pneumonia, and covid-19. The cardiac segment held a larger market share in 2022 and is expected to register a higher CAGR during the forecast period. Based on type, the cardiopulmonary oxygenator market is bifurcated into reusable oxygenators and disposable oxygenators The reusable oxygenator segment held a larger market share in 2022 and is expected to register a higher CAGR during the forecast period. Based on age group, the cardiopulmonary oxygenator market is categorized into adults, pediatrics, and neonates. The adults segment is expected to hold the largest market share and is anticipated to register the highest CAGR during forecast period. Based on end use, the cardiopulmonary oxygenator market is divided into hospitals and clinics, ambulatory surgical centers, and others. The hospital and clinics segment hold the largest market share and anticipated to register the highest CAGR during forecast period. Based on geography, the cardiopulmonary oxygenator market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, the Netherlands, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, Thailand, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Cardiopulmonary Oxygenator Market, by Application (%)

Rise in Incidence of Cardiopulmonary Diseases Fuels Cardiopulmonary Oxygenator Market Growth

Cardiopulmonary disorders mainly affect the lungs and heart of people. These conditions are categorized as cardiovascular diseases and chronic obstructive pulmonary disease (COPD). Cardiovascular diseases include coronary artery diseases, blood vessel diseases, heart arrhythmia problems, and heart defects, which affect the heart and blood vessels. Further, COPDs are diagnosed with emphysema and chronic bronchitis.

According to the American Lung Association, COPD is the leading cause of death in the US, and more than 12 million Americans were diagnosed with these diseases in 2022. As per the same source, ~8.5 million adults globally were diagnosed with COPD from 2019 to 2020. According to the World Health Organization (WHO), COPD was the third prominent cause of death worldwide in 2021. The high mortality rate of COPD is associated with acute exacerbations that lead to the failure of patients’ respiratory muscles, resulting in the loss of their ability to breathe independently; thus, the patients die from systemic infection and asphyxia. Further, according to the Burden of Obstructive Lung Disease (BOLD) report, 2020, mortality due to COPD is projected to rise across the globe over the next 40 years, reaching 5.4 million deaths annually by 2060. Oxygenator devices can be used to manage COPD attacks. Thus, with the growing incidence of COPD, the demand for cardiopulmonary oxygenators is also on the rise.

According to the Global Health Data Exchange 2019, 64.37 million people suffered from heart failure in 2019. The primary risk factors of CVDs include family history, ethnicity, and age; other risk factors include tobacco consumption, hypertension, obesity, high cholesterol, physical inactivity, and diabetes. The WHO estimates 17.9 million lives are lost due to CVDs annually. To prevent patients’ death, oxygenator devices can be a major assistance to doctors. In the case of heart failure, the oxygen level in the blood is maintained with the help of an external device, as the heart cannot maintain proper oxygen levels. Oxygenator devices are used to manage heart failure patients.

Thus, the increasing prevalence of cardiopulmonary diseases such as cardiovascular disorders and COPDs boosts the cardiopulmonary oxygenators demand.

Impact of the COVID-19 Pandemic on the Cardiopulmonary Oxygenator Market

Several countries across the world witnessed a huge challenge due to the onset of the COVID-19 outbreak. Considering the economic operations and geographic conditions, the outbreak adversely affected medical tourism and medical equipment, laser system, and accessory manufacturing. It also led to a shortage of healthcare infrastructure in low-income countries. According to WHO, due to the rapidly changing risk of the COVID-19 outbreak in countries and constantly controlling outbreak trends, additional health measures significantly interfered with international travel and trade. The COVID-19 pandemic created a seismic shift in living standards on a global level. China faced various issues due to the pandemic such as disruption in the supply chain, drop in product sales in all industries, and a rise in health concerns within the production units and other public places. However, the demand for cardiopulmonary oxygenators has increased significantly on the global level for the treatment of critical patients with low oxygen levels. Thus, the market has a positive impact on the COVID-19 pandemic.

Several players in the cardiopulmonary oxygenator market, including Getinge AB, LivaNova Plc, Medtronic Plc, Terumo Corp, Eurosets SRL, Nipro Medical Corp, Fresenius Medical Care AG & Co. KGaA, MicroPort Scientific Corp, Braile Biomédica Industry, Commerce and Representations Ltd, and Chalice Medical Ltd., are engaged in addressing the growing cardiopulmonary oxygenators demand.  

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com