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The heart-lung machines market is estimated to grow by USD 195.04 million at a CAGR of 3.89% between 2022 and 2027.
The expansion of the market relies on multiple elements, encompassing the rising popularity of medical tourism in Asia, a surge in the number of ASCs, and awareness campaigns undertaken by organizations. While there are several factors driving market growth, the occurrence of complications linked to CABG surgeries poses a significant obstacle that could impede market progress. However, advancements in the market, such as the introduction of portable, are anticipated to have a favorable influence on market growth.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased medical tourism in Asia is one of the key factors driving the growth of the global market. The prevalence of CVDs (Cardiovascular diseases) in Asia, owing to changing lifestyles in emerging economies such as China and India, has increased the demand for cardiac surgeries. The rise in healthcare expenditure, a growing number of hospitals, improved infrastructure of healthcare facilities, availability of highly skilled medical professionals, and increasing affordability of overall healthcare services are the major factors attracting people from overseas to travel to Asian countries.
These countries offer advanced treatment procedures at minimal costs in comparison to those in developed countries across North America and Europe. These affordable healthcare services available in Asia attract patients from developed countries such as the UK, Canada, and the US. The cost of various medical and surgical procedures is expensive in developed economies, which will, in turn, fuel the artificial heart lung machine market growth.
The portable heart-lung machine will fuel the market growth. They weigh less and occupy less space in operating rooms, unlike conventional. However, these machines are expensive compared to conventional. To reduce the financial burden on hospitals, companies have developed portable machines that can operate through a rechargeable battery and can be transported to any part of the hospital. These portable machines help physicians provide extracorporeal circulation to patients who are in a critical stage during any emergency period, either in an ambulatory setting or in operating rooms.
Several companies are developing portable; MAQUET (a part of Getinge Group) offers the CARDIOHELP System, one of the smallest portable machines in the world, which was received well in European countries such as Germany and the UK. Hemovent, a German company, offers one of the first smallest self-contained and portable. Such innovations will encourage companies to develop new technologies, which will lead to market growth.
The complications associated with CABG surgeries are a major challenge for the global market growth. During CABG surgery, blood is transported through a heart-lung machine as the physician stops the heart. As the blood goes through PVC tubes, it comes in contact with artificial compounds, which can lead to post-surgery complications such as infection, arrhythmia, kidney stress, and the release of cytokines, causing irritation and inflammation. The tubes that are used for the transportation of blood are rigid, and while transferring blood through the heart-lung machine can rupture cells forming blood clots, which through the oxygenator can enter the body leading to complications.
Because of the complications associated with such surgeries, people can opt for procedures such as minimally invasive bypass surgery, which can affect market growth. Furthermore, most patients who go through heart bypass surgery can experience long-term memory loss and cognitive problems, which are considered the after-effects of using. Such surgeries take a long time, as much as four hours. The long duration can lead to pump head syndrome, which includes temporary memory loss, impaired vision, and slurred speech.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Axiomtek-medical- The company offers CEM313, and PICO512. Also, they focus on designing and manufacturing industrial computers and embedded fields, for health care and medical devices.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the hospital segment will be significant during the forecast period. Diagnosis and monitoring of cardiac events are carried out in outpatient settings in hospitals. The sales will increase slowly in hospitals due to a rise in the number of heart surgeries. Mid-sized hospitals have 200-300 beds and function on a limited budget. Unlike large hospitals, the administration is often decentralized in mid-sized hospitals. The number of mid-sized hospitals is high compared to large hospitals, and they are easily accessible, which will increase sales in mid-sized hospitals. Thus, the increasing number of hospitals may positively impact the growth of the global market during the forecast period.
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The hospitals segment was valued at USD 622.13 million in 2017 and continued to grow by 2021. Large hospitals include multispecialty hospitals and hospital groups, which are usually run by government sponsorship or owned by private entities. These hospitals have a sufficient number of hospital beds and advanced medical infrastructure and offer a large number of in-patient and outpatient services. They procure medical products and consumables in bulk at low prices and engage closely with many suppliers. Increasing patient pool, rising healthcare expenditure, the use of advanced and sophisticated equipment, and the availability of skilled healthcare professionals are the major factors contributing to the growth of the hospital segment in the global market.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Growing incidences and prevalence of CVDs, rise in the number of surgical procedures for CVDs, increasing healthcare expenditure, technological advances, rise in the geriatric population, and the presence of prominent companies drive the growth of the market in North America.
CVDs are one of the most prevalent chronic diseases among people in North America. According to the data published by the Centers for Disease Control and Prevention (CDC) in September 2020, coronary heart disease is the most common type of CVD, which leads to the death of more than 370,000 people each year in the US. Patients with such CVDs are at a high risk of cardiac failure. Hence, the high incidence of such CVD increases the need for surgical procedures as a part of the therapy and drives the demand for advanced equipment in North America.
Moreover, the market is favored by the presence of several global and local companies, which it offers advanced, innovative, and high-quality and related accessories. Hence, the easy availability and their accessories are likely to contribute to the market growth in this region during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The market is crucial for treating cardiovascular diseases (CVD), which affect the heart and lungs. These machines, such as CPB machines, play a vital role in surgeries for conditions like heart attacks and heart vessel disease. Technological advancements have led to innovative products like the Essenz Heart-Lung Machine (HLM) and the Essenz Patient Monitor, which improve healthcare accessibility for patients requiring complex surgeries.
Key components of these machines include oxygenators and monitoring for factors like carbon dioxide levels, crucial for the lungs' respiratory function. Products like the Vitasprings Spiral Diversion Integrated Membrane Oxygenator enhance the efficiency of procedures like coronary artery bypass grafting (CABG) and heart valve surgeries. The market continues to evolve, driven by the need for advanced solutions in cardiovascular care.
Heart-lung Machines Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.89% |
Market growth 2023-2027 |
USD195.04 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.08 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 36% |
Key countries |
US, Germany, France, China, and Japan |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Axiomtek, Braile Biomedica, Edwards Lifesciences Corp., ELITE LIFECARE, Eurosets Srl, Fresenius Medical Care AG and Co. KGaA, Getinge AB, Heart Care India Co., Hemovent GmbH, Jarvik Heart Inc., Koninklijke Philips NV, LivaNova Plc, Medtronic Plc, Nipro Corp., Palex Medical SA, RAUMEDIC AG, Saati SpA, SONOTEC GmbH, SynCardia Systems LLC, and Terumo Group |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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