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The oxygenators market share is expected to increase by USD 114.29 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.93%.
This oxygenators market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers oxygenator market segmentation by product (membrane oxygenator and bubble oxygenator) and geography (North America, Europe, Asia, and the Rest of the World (ROW)). The oxygenators market report also offers information on several market vendors, including Armstrong Medical Ltd., Braile Biomedica, CytoSorbents Corp., Eurosets Srl, Fresenius SE & Co. KGaA, Gen World Medical Devices, Getinge AB, Guangdong Ougelsi Technology Co., Ltd., LivaNova Plc, MC3 Cardiopulmonary, Medtronic Plc, MicroPort Scientific Corp, Nipro Corp., Palex Medical SA, Sechrist Industries Inc., Senko Medical Industry Co., Ltd., Shandong Weigao Group Medical Polymer Co. Ltd., Xenios AG, Chalice Medical Ltd, and Terumo Corp among others.
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The increasing incidence of respiratory and heart failure is notably driving the oxygenators market growth, although factors such as high costs associated with cardiac and respiratory procedures may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the oxygenators industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Oxygenators Market Driver
The increasing incidence of respiratory and heart failure is one of the major drivers impacting the oxygenators market growth. COPD is one of the most common respiratory diseases that affect a huge number of people globally. COPD causes an obstruction of airflow in the lungs. Chronic bronchitis and emphysema are the two most common types of COPD. The growing burden of COPD is associated with increased mortality. Respiratory failure is one of the significant causes of death related to COPD. People suffering from COPD are at the highest risk of sudden respiratory failure. Oxygenators are majorly used as one of the major therapy approaches by healthcare professionals to save the life of these patients. Therefore, the increasing prevalence of chronic respiratory diseases is driving the demand for oxygenators, thereby driving the growth of the global oxygenators market.
Key Oxygenators Market Trend
Increasing healthcare expenditure is one of the major trends influencing the oxygenators market growth. With the increasing prevalence of CVDs and the growing disposable income of people, healthcare expenditure is also rising globally. The growing awareness about the need for the early management of CVDs and the risks of negligence in seeking timely medical help is making people increasingly health-conscious. This, in turn, is leading to an increase in global healthcare expenditure. In most developed countries, healthcare expenditure is high. However, emerging markets such as China, India, and Brazil are witnessing a favorable increase in healthcare spending owing to the rising disposable income of people. According to The World Bank Group, healthcare expenditure in China is expected to grow at an average of 8.4% annually to reach $2,297.3 billion by 2035 from around $508.9 billion in 2014. The increase in healthcare expenditure is expected to drive the growth of the global oxygenators market during the forecast period.
Key Oxygenators Market Challenge
High costs associated with cardiac and respiratory procedures are one of the major challenges impeding the oxygenators market growth. The price of a hospital stay varied greatly, mostly depending on the location and ECMO support indicated (ranging from US$22,305 to US$334,608) in 2019. The extracorporeal cardiopulmonary resuscitation patients in Japan who presented with non-shockable rhythm had the lowest reported expenses, while lung transplant recipients in the US who were receiving ECMO assistance had the highest reported costs. The additional costs of ECMO patients compared with non-ECMO patients varied between US$2,518 and US$200,658. . Additionally, oxygenators are quite complicated technological devices. The shelf life of the oxygenators depends on the proper maintenance of the devices. The increasing need for the maintenance of oxygenators and their accessories creates a burden on hospitals. Therefore, the high cost of medical procedures, the need for maintenance of oxygenation machines, and the cost of the oxygenation procedure may suppress the growth of oxygenators and may hamper the growth of the global oxygenators market to a certain extent during the forecast period.
This oxygenators market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global oxygenators market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the oxygenators market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the oxygenators market encompasses successful business strategies deployed by the key vendors. The oxygenators market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The oxygenators market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the oxygenators market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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37% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for oxygenators market in North America. Market growth in this region will be faster than the growth of the market in other regions.
The growing number of awareness programs regarding the early diagnosis of chronic diseases will facilitate the oxygenators market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 outbreak positively impacted the growth of the oxygenators market in North America during 2020-2021, owing to the increased need for oxygen in patients with COVID-19. Oxygenators were used to support critically ill patients with COVID-19 for whom ventilation is insufficient to sustain blood oxygen levels. The pandemic led to the increased use of oxygenators by numerous healthcare facilities in terms of regular patient monitoring, which has driven the growth of the oxygenators market in North America. The outbreak prompted vendors to develop new business strategies to meet the high demand for oxygenators. Thus, the market in focus is expected to grow at a moderate pace during the forecast period.
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The oxygenators market share growth in the membrane oxygenator segment will be significant during the forecast period. The membrane oxygenator segment was the largest segment of the global oxygenators market in 2021 and is expected to remain the largest market segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the oxygenators market size and actionable market insights on post COVID-19 impact on each segment.
Oxygenators Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.93% |
Market growth 2022-2026 |
$ 114.29 million |
Market structure |
Fragmented |
YoY growth (%) |
6.11 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 37% |
Key consumer countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Armstrong Medical Ltd., Braile Biomedica, CytoSorbents Corp., Eurosets Srl, Fresenius SE & Co. KGaA, Gen World Medical Devices, Getinge AB, Guangdong Ougelsi Technology Co., Ltd., LivaNova Plc, MC3 Cardiopulmonary, Medtronic Plc, MicroPort Scientific Corp, Nipro Corp., Palex Medical SA, Sechrist Industries Inc., Senko Medical Industry Co., Ltd., Shandong Weigao Group Medical Polymer Co. Ltd., Xenios AG, Chalice Medical Ltd, and Terumo Corp |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the 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 Five Forces Analysis
5 Market Segmentation by Product Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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