Cardiac Segment to Lead Cardiopulmonary Oxygenator Market Share During 2022–2028
According to our latest 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 cardiopulmonary oxygenator market growth is likely to surge by 2028, owing to an increase in the prevalence of cardiopulmonary disorders and a rise in surgical procedures.
Increasing Surgical Procedures with Surging in Aging Population
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 across the globe, 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 can 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 oxygenator 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 grow from 12% in 2015 to 22% by 2050. 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 the geriatric population is contributing to the cardiopulmonary oxygenator market growth.
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 among the leading companies operating in the cardiopulmonary oxygenator market.
The report segments the cardiopulmonary oxygenator market as follows:
Based on product, the cardiopulmonary oxygenator market is bifurcated into membrane oxygenator and bubble oxygenator. The membrane oxygenator segment held the larger market share in 2022 and is anticipated to register the higher CAGR during the forecast period. Based on application, the 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 expected to register a higher CAGR during the forecast period. Based on type, the cardiopulmonary oxygenator market is bifurcated into reusable oxygenator and disposable oxygenator 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, cardiopulmonary oxygenator market is categorized into adults, pediatric, and neonates. The Adults segment is expected hold the largest market share and anticipated to register the highest CAGR during forecast period. Based on end use, the cardiopulmonary oxygenator industry 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, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The market in North America is further segmented into the US, Canada, and Mexico. The cardiopulmonary oxygenator market in Europe is subsegmented into France, Germany, the UK, the Netherlands, Italy, and the Rest of Europe. The APAC market is further segmented into China, India, Japan, Australia, Thailand, and the Rest of APAC. The market in the MEA is further segmented into Saudi Arabia, the UAE, South Africa, and the Rest of the MEA. The South & Central America cardiopulmonary oxygenator market is sub segmented into Brazil, Argentina, and the Rest of South & Central America.
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