by Cardiopulmonary bypass equipment is used during open-heart surgeries to temporarily take over the function of the heart and lungs and pump oxygenated blood throughout the body. The equipment is crucial during complex cardiac procedures as it allows surgeons to operate on a still heart. Cardiopulmonary bypass equipment provides blood circulation and oxygenation and removes carbon dioxide from the blood during surgery, decreasing workload on heart and allowing surgeons to repair or replace valves, arteries, or other structures in the stopped heart. The global cardiopulmonary bypass equipment market is estimated to be valued at US$ 2.8 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of cardiovascular diseases has been a key factor driving the growth of the cardiopulmonary bypass equipment market. According to WHO, cardiovascular diseases account for over 17 million deaths worldwide every year, with rising risk factors such as obesity and smoking significantly contributing to the growing burden of these diseases. Growing geriatric population is another important aspect augmenting the demand for cardiopulmonary bypass equipment as aging significantly increases the risks of various heart conditions that often require open-heart surgeries. Technological advancements introducing miniaturized cardiopulmonary bypass equipment have also expanded the scope of heart surgeries and simplified procedures, further propelling the market growth.
Segment Analysis
The global cardiopulmonary bypass equipment market is dominated by the heart-lung machines segment. Heart-lung machines, also known as cardiopulmonary bypass machines, are essential medical devices used in almost all open-heart surgeries to temporarily take over the function of the heart and lungs during cardiac surgery. They allow surgeons to operate on a still heart by rerouting the patient’s blood circulation and oxygenating the blood outside the body. Due to their ubiquity and necessity in cardiac surgeries involving the heart, heart-lung machines account for over 60% of the global cardiopulmonary bypass equipment market.
Key Takeaways
The Global Cardiopulmonary Bypass Equipment Market Demand is expected to witness high growth over the forecast period of 2023 to 2028.
Regional analysis: North America currently dominates the global cardiopulmonary bypass equipment market owing to the high prevalence of cardiovascular diseases and growing geriatric population in the region. Furthermore, presence of advanced healthcare infrastructure and widespread medical insurance have enabled high penetration of cardiac surgeries using cardiopulmonary bypass equipment in the region. Asia Pacific is expected to be the fastest growing market during the forecast period given rising healthcare investments, westernization of lifestyles impacting diseases, and rapidly growing healthcare industry in countries such as China and India.
Key players operating in the cardiopulmonary bypass equipment market are Sorin Group, MAQUET Holding B.V. & Co. KG., Braile Biomedica, Terumo Corporation, Medtronic, and Tianjin Medical. Sorin Group and MAQUET Holding are currently the dominant players due to their portfolio of heart-lung machines and leading brand presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
