May 29, 2024

The Rising Incidence Of Cardiovascular Diseases Is Driving The Cardiopulmonary Bypass Equipment Market

Cardiopulmonary bypass equipment, also known as an artificial heart-lung machine or heart-lung machine, is used during complicated open-heart surgeries like coronary artery bypass or heart transplants. It temporarily takes over the function of the heart and lungs and allows the surgical team uninterrupted access to the heart during surgery. The equipment draws blood from the venous system, oxygenates it and pumps it through an artificial lung back into the arterial system, maintaining circulation and oxygen delivery throughout the patient’s body during the period of cardiac arrest while the heart is being operated on. With the increasing prevalence of cardiovascular diseases globally due to lifestyle changes and aging populations, the demand for cardiopulmonary bypass equipment is on the rise.

The global Cardiopulmonary Bypass Equipment Market is estimated to be valued at US$ 138.26 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Technological Advancements – Manufacturers are increasingly focusing on developing innovative cardiopulmonary bypass equipment with advanced features to provide enhanced safety and efficiency during complex cardiac surgeries. Some key areas witnessing technological innovations include development of miniaturized compact cardiopulmonary bypass equipment with improved portability, self-contained systems requiring fewer personnel to operate, and equipment integrated with advanced monitoring and alert systems.

Porter’s Analysis

Threat of new entrants: Low as the cardiopulmonary bypass equipment market requires high capital investment and established distribution channels.

Bargaining power of buyers: Moderate as there are numerous established players offering similar products in the market.

Bargaining power of suppliers: Low due to presence of many raw material suppliers for cardiopulmonary bypass equipment.

Threat of new substitutes: Low as there are limited substitutes available for cardiopulmonary bypass equipment used in cardiac surgeries.

Competitive rivalry: High due to presence of numerous national and international players competing on basis of product quality, price and innovation.

Key Takeaways

The Global Cardiopulmonary Bypass Equipment Market Growth is expected to witness high. The global Cardiopulmonary Bypass Equipment Market is estimated to be valued at US$ 138.26 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

Regional analysis comprises Asia Pacific region is expected to dominate the market during the forecast period due to rising aging population, cardiovascular diseases and obesity in the region.

Key players operating in the Cardiopulmonary Bypass Equipment market are Dow, Henkel, BASF, Nordson, LORD Corporation, H.B. Fuller, Siltech Corporation, Qualcomm, Broadcom, Skyworks Solutions, Qorvo. The major players are focusing on new product launches and strategic collaborations to strengthen their market position.

The Cardiopulmonary Bypass Equipment market is segmented into heart-lung machines, oxygenators, pumps, cannula, and accessories. The oxygenator segment is expected to hold major market share during the forecast period due to repeated use of oxygenators in cardiac bypass surgeries.

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