by Cardiopulmonary bypass equipment is used to oxygenate and circulate blood outside the body during major cardiac surgeries and heart transplant procedures. This equipment includes heart-lung machines, oxygenators, pumps, total artificial hearts, and accessories. These devices ensure adequate oxygenated blood supply to vital organs during operations, minimizing risk to the patient’s life. The rising prevalence of cardiovascular diseases and increasing demand for minimally invasive procedures have propelled the need for advanced cardiopulmonary bypass equipment.
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:
Minimally invasive heart surgeries have witnessed significant rise in recent years due to advantages such as reduced hospital stay, lower risk of infections, shorter recovery time, and lesser pain when compared to conventional open-heart surgeries. Advanced cardiopulmonary bypass equipment integrated with innovative technologies helps surgeons perform minimally invasive procedures efficiently. This has propelled manufacturers to develop portable, miniaturized bypass machines optimized for surgeries through smaller incisions or body openings. Increasing adoption of such equipment for minimally invasive cardiac surgeries is a major trend fueling growth of the cardiopulmonary bypass equipment market.
SWOT Analysis
Strength: Cardiopulmonary bypass equipment is essential for open-heart surgeries. Rising number of cardiovascular diseases and surgical procedures drive the market.
Weakness: High costs associated with cardiopulmonary bypass surgeries limits market growth. Requirement of skilled professionals also poses operational challenges.
Opportunity: Emerging economies provide lucrative opportunities due to increasing healthcare expenditure and large patient bases. Technological advancements will further augment the market size.
Threats: Stringent regulatory frameworks can delay product approvals. Supply chain disruptions amid pandemic are also a concern.
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.
North America dominates the global market currently due to high prevalence of cardiac disorders and presence of major players. The region’s market is projected to hold around 30% value share by 2030. Rising disease burden in Asia Pacific offers attractive opportunities to key players. The Asia Pacific market is estimated to expand at a CAGR above 6.5% during the forecast timeline.
Key players operating in the cardiopulmonary bypass equipment market include Dow, Henkel, BASF, Nordson, LORD Corporation, H.B. Fuller, Siltech Corporation, Qualcomm, Broadcom, Skyworks Solutions, and Qorvo. These market players are focusing on new product launches, partnerships and acquisitions to strengthen their global presence. For instance, Nordson Corporation acquired Venata LLC in 2022 to expand site infrastructure inspection capabilities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Priya Pandey
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement. LinkedIn Profile
