Dublin, May 26, 2023 (GLOBE NEWSWIRE) -- The "Cardiopulmonary Oxygenator Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Application, Type, Age Group, and End Use" report has been added to ResearchAndMarkets.com's offering.
The global cardiopulmonary oxygenator market is expected to grow from US$ 716.21 million in 2022 to US$ 904.15 million by 2028; it is anticipated to record a CAGR of 4.0% from 2022 to 2028.
The oxygenator removes carbon dioxide and adds oxygen to the blood that is pumped into the arterial system. The blood pumped back into the patient's arteries is sufficient to maintain life at even the most distant parts of the body as well as in the organs. Cardiopulmonary bypass (CPB) procedures require a blood-gas exchanger (oxygenator) to temporarily replace the respiratory function of the lungs.
In the past, the majority of CPB procedures have been carried out with bubble oxygenators which affect gas exchange by the dispersion of bubbles into the blood. Membrane oxygenators, on the other hand, utilize a hydrophobic gas-permeable membrane between the blood and gas phases. Bubble oxygenators are being superseded by membrane types for CPB due to improvements in membrane technology and mass transfer efficiency.
Increasing Surgical Procedures with Surging in Aging Population Provides Major Factor Driving the Cardiopulmonary Oxygenator Market.
Surgical procedures are necessary for managing health conditions such as cardiovascular diseases and lung disorders. In some medical cases, no alternative works without surgery. Per an article published in the National Center for Biotechnology Information (NCBI) in 2020, ~310 million major surgical operations are carried out each year worldwide, of which 50-60 million are performed in the US and 20 million are performed in Europe. Cardiovascular surgeries account for more than 16% of the total surgeries worldwide, followed by respiratory surgeries with a 3% share of the total.
The high demand for cardiovascular surgeries can be attributed to the increase in the incidence of cardiovascular diseases in the aging population. Further, lung transplantation may be the only helpful treatment option for patients experiencing serious lung damage and non-resolving COVID-19-associated respiratory failure. Thus, with the growing number of cardiovascular and lung transplant surgeries, the demand for cardiopulmonary oxygenators is also on the rise in the world.
According to the Global Ageing 2019 survey, the global population of people aged 65 and above totaled 703 million in 2019. Furthermore, this population is expected to double to 1.5 billion by 2050.
According to the WHO, the percentage of people aged 60 and above is estimated to reach 22% by 2050 from 12% in 2015. Cardiovascular diseases continue to be the leading cause of death among adults over the age of 65. Aging can cause changes in the heart and blood vessels, increasing the risk of developing these diseases. Therefore, the prevalence of cardiovascular diseases among geriatric populations is contributing to the cardiopulmonary oxygenator market growth.
Asia Pacific holds a substantial share of the cardiopulmonary oxygenator market. China held the largest market share in 2021, and India is expected to register a significant CAGR in the market during the forecast period. According to the Global Burden of Diseases Study, in 2019, out of the total 18.6 million CVD deaths worldwide, 58% of them occurred in Asia.
As the continent with the largest population and the greatest diversity of cultures, ethnicities, socioeconomic status, and healthcare systems, Asia faces many challenges in CVD prevention and treatment. The growth of the cardiopulmonary oxygenator market is mainly attributed to the increasing prevalence of atrial fibrillation (AF) in China, the growing burden of various other heart diseases, and the rising geriatric population across the region.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 236 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $716.21 million |
| Forecasted Market Value (USD) by 2028 | $904.15 million |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Rise in Incidence of Cardiopulmonary Diseases
- Increasing Surgical Procedures with Surging in Aging Population
Restraints
- Lack of Skilled Professionals
Opportunities
- Increasing Usage of Cardiopulmonary Oxygenators in Pediatric and Neonatal Patients
Future Trends
- Use of Portable Extracorporeal Membrane Oxygenation in Lung Transplant Procedures
Companies Mentioned
- Getinge AB
- LivaNova Plc
- Medtronic Plc
- Terumo Corp
- Eurosets SRL
- Nipro Medical Corp
- Fresenius Medical Care AG & Co. KGaA
- MicroPort Scientific Corp
- Braile Biomedica Industry, Commerce and Representations Ltd
- Chalice Medical Ltd.
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