Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Cardiopulmonary Bypass Equipment - Global Market Insights, Competitive Landscape, and Market Forecast - 2028" report has been added to ResearchAndMarkets.com's offering.
The global cardiopulmonary bypass equipment market is projected to grow at a steady Compound Annual Growth Rate (CAGR) of 4.14% from 2023 to 2028, reaching USD 516.82 million by the end of the forecast period.
The demand for cardiopulmonary bypass equipment is being driven by factors such as the increasing prevalence of cardiovascular diseases, a rising geriatric population, and technological advancements in the field.
Cardiovascular diseases, including atrial fibrillation, atrial flutter, and supraventricular tachycardia, are on the rise, leading to a greater need for cardiopulmonary bypass (CPB) equipment to support cardiac surgeries. The aging population is growing at an alarming rate, with the elderly population expected to double by 2050, resulting in a higher risk of cardiovascular diseases and a greater demand for cardiac surgeries.
Companies are investing in research and development to create more efficient and user-friendly products. For example, Abiomed received FDA clearance for its compact cardiopulmonary bypass system, Breethe OXY-1, in 2020. These advancements are expected to drive market growth.
Key Market Segments
The cardiopulmonary bypass equipment market is segmented based on product type, application, end-user, and geography:
Product Types:
- Heart-Lung Machines
- Oxygenators
- Autotransfusion Systems
- Others
Applications:
- Cardiovascular
- Respiratory
- Hemodialysis
- Others
End-Users:
- Hospitals
- Specialty Clinics
- Dialysis Centers
- Ambulatory Surgery Centers
Regions:
- North America
- Europe
- Asia-Pacific
- Rest of the World
Market Drivers
The market is being driven by several factors, including the increasing prevalence of cardiovascular diseases, the aging population, and ongoing technological advancements. The World Health Organization reports that approximately 17.9 million people die from cardiovascular diseases each year, making it a significant global health concern. This trend is expected to continue, with an estimated 23.6 million deaths due to cardiovascular disorders expected by 2030.
Regional Dominance
North America is expected to dominate the cardiopulmonary bypass equipment market, driven by a growing population with cardiovascular and other chronic diseases, lifestyle changes, and a significant number of product development activities in the region. For example, in March 2023, the US FDA granted clearance to LivaNova's Essenz heart-lung machine for use in cardiopulmonary bypass procedures.
Key Players
Key players in the global cardiopulmonary bypass equipment market include Medtronic PLC, LivaNova PLC, MAQUET Holding B.V. & Co. KG., Terumo Corporation, Braile Biomedica Ltda, Tianjin Medical, Senko Medical Instrument Manufacturing Co. Ltd., and others.
Recent Developments
Recent developments in the cardiopulmonary bypass equipment market include FDA breakthrough designation for Abiomed's Impella ECP expandable percutaneous heart pump, FDA clearance for LivaNova's B-Capta system integrated into the S5 heart-lung machine, and FDA clearance for Abiomed's all-in-one compact extracorporeal membrane oxygenation (ECMO) cardiopulmonary bypass system, Breethe OXY-1.
Key Takeaways
Key takeaways from the market study include market size analysis, top key developments, key players dominating the market, and opportunities for growth in the cardiopulmonary bypass equipment market.
Target Audience
The report is beneficial for cardiopulmonary bypass equipment providers, research organizations, government and corporate offices, start-up companies, distributors and traders, and various end-users interested in the latest technological developments in the market.
For more information about this report visit https://www.researchandmarkets.com/r/jwki3y
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