February 24, 2024

Telemedicine Is Fastest Growing Segment Fueling The Growth Of Cardiopulmonary Bypass Equipment Market

Market Overview:

Cardiopulmonary bypass equipment are medical devices used during cardiac surgery to temporarily take over the function of the heart and lungs by circulating blood throughout the body and allowing the heart to be stopped. The equipment consists of pumps, oxygenator and computer-based monitoring system.

Market key trends:

 The modern cardiopulmonary bypass equipment come integrated with wireless monitoring technology that allows remote monitoring of equipment parameters, patient vitals and video consultation during surgery. This enables involvement of additional experts, especially in emergencies, reducing complications and improving outcomes. With growing telehealth applications, this segment is expected to drive the future growth of cardiopulmonary bypass equipment market during the forecast period.

Segment Analysis

The global cardiopulmonary bypass equipment market is segmented based on product, application, and end user. By product, the market is divided into heart-lung machines, oxygenators, pumps, cannulae, and accessories. Among these, the heart-lung machines segment currently dominates the market due to the high demand for reliable cardiopulmonary bypass equipment during complex cardiac surgeries. Heart-lung machines help maintain and support the circulatory and respiratory functions during open heart surgeries.

The global Cardiopulmonary Bypass Equipment Market Demand is estimated to be valued at US$ 120.01 Mn 2023 and is expected to exhibit a CAGR of 1.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Key Takeaways

Market size: The global cardiopulmonary bypass equipment market is expected to witness high growth, exhibiting CAGR of 1.7% over the forecast period, due to increasing prevalence of cardiovascular diseases along with the rising number of complex cardiac surgeries being performed worldwide.

Regional analysis: North America currently dominates the market due to the availability of advanced healthcare technology and facilities in the region. However, Asia Pacific is expected to grow at the fastest rate during the forecast period driven by rapidly increasing healthcare spending and demand for quality medical treatments in emerging countries such as China and India.

Key players: Key players operating in the cardiopulmonary bypass equipment market are Medtronic Plc, LivaNova PLC, MAQUET Holding B.V. & Co. KG., Terumo Corporation, Braile Biomedica, and Tianjin Medical. Medtronic and LivaNova hold a major share of the market due to their diverse product portfolio and strong global presence.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it