by The cardiopulmonary bypass equipment market comprises a variety of medical devices used for performing surgical procedures related to cardiac and pulmonary conditions. Cardiopulmonary bypass systems, also known as heart-lung machines, are used during open-heart surgeries to temporarily take over the function of heart and lungs and pump oxygenated blood throughout the body while the heart is being operated upon. It includes oxygenators, pumps, cannulae, peripheral vascular cannulae, and heart-lung machines.
The global market has witnessed significant growth due to the rising incidence of cardiovascular diseases worldwide. According to the World Health Organization, cardiovascular diseases are the leading cause of deaths globally, taking an estimate of over 17.9 million lives each year. The growing geriatric population base which is more susceptible to such conditions coupled with theadoption of sedentary lifestyles has further increased the burden of these diseases. The increasing access and availability of advanced medical technologies along with the rising healthcare expenditures in developing nations has also propelled the demand for cardiopulmonary bypass equipment over the years.
The global Cardiopulmonary Bypass Equipment Market is estimated to be valued at US$ 120.01 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the key trends prevailing in the cardiopulmonary bypass equipment market is the emergence of miniaturized cardiopulmonary bypass systems. With continuous technological advancements, manufacturers are developing compact cardiac surgery technologies with miniaturized circuits, pumps, cannulas and oxygenators that take up lesser space. This facilitates less invasive surgeries procedures with reduced complications. For instance, Medtronic offers Archimedes, the world’s smallest portable heart-lung bypass system. Its miniature parts including a hollow fiber oxygenator and centrifugal pump help perform coronary artery bypass grafting through small chest incisions.
The easier handling and portability of miniaturized systems are increasing their adoption worldwide. Another notable trend includes the emergence of personalized cardiopulmonary bypass. Researchers are working on devising patient-specific cardiopulmonary bypass technologies with customized components tailored as per the physiology, surgical requirements and health of each individual. This is expected to improve clinical outcomes through precise flow rates and enhanced comfort and safety during surgeries in the upcoming years.
Porter’s Analysis
Threat of new entrants: Low. High capital requirement and scale economies make it difficult for new players to enter the market.
Bargaining power of buyers: Moderate. Large healthcare providers can negotiate on price and quality of products However lack of substitutes provide some pricing power to incumbents.
Bargaining power of suppliers: Low. The market has several component suppliers with no single supplier dominance.
Threat of new substitutes: Low. No substitute expected for cardiopulmonary bypass equipments used in open-heart surgeries.
Competitive rivalry: High. The market is dominated by few big players and competition based on product features and pricing.
Key Takeaways
Global Cardiopulmonary Bypass Equipment Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Cardiopulmonary Bypass Equipment Market is estimated to be valued at US$ 120.01 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
Regional analysis: North America accounted for the largest share of the cardiopulmonary bypass equipment market in 2024 primarily due to the increasing per capita healthcare expenditure and growing number of cardiac patients in the region. Europe is poised to grow at a high CAGR during the forecast period due to increasing demand for advanced medical devices for surgeries in countries like Germany, U.K and France.
Key players: Key players operating in the Cardiopulmonary Bypass Equipment Market are Dow, Henkel, BASF, Nordson, LORD Corporation. Cardiopulmonary bypass equipment manufacturers are focusing on innovations to develop portable and mobile cardiopulmonary bypass systems.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
