REPORT OVERVIEW
-
Request a Free Sample to learn more about this report
The global cardiopulmonary bypass equipment market size was in USD 421 million 2021. As per our research, the market is expected to reach USD 810.9 million by 2028, exhibiting a CAGR of 9.7% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
The equipment stands as a crucial medical innovation utilized in cardiac surgeries to temporarily assume the responsibilities of the heart and lungs. This enables the surgical team to work on a motionless and blood-free surgical site. Such equipment comes into play when a patient's heart requires a temporary halt or reduction in its activity, allowing intricate procedures that would be unfeasible during the heart's normal beating rhythm.
COVID-19 Impact: Innovation and Adaptation among Population to Fuel Market Growth
The COVID-19 pandemic triggered heightened attention toward innovation and adaptation within the medical sector. Manufacturers of this equipment delved into novel technologies and approaches to elevate the safety and effectiveness of their offerings. The pandemic spurred manufacturers of c equipment to intensify their focus on research and development. Globally, numerous hospitals rescheduled elective surgeries to make room for COVID-19 patients and mitigate the spread of the virus. As a result, there was a decrease in the number of cardiac surgeries, directly impacting the need for it.
LATEST TRENDS
"Minimally Invasive Approaches, and Integration of Advanced Monitoring to Drive Market Growth "
Minimally Invasive Approaches within the cardiopulmonary bypass equipment market signify a noteworthy trend in cardiac surgeries. These techniques involve conducting surgical procedures through smaller incisions or ports, often aided by specialized instruments and technologies. The primary objective is to mitigate patient body trauma, minimize post-operative discomfort, expedite recovery periods, and amplify overall patient outcomes. In contrast to conventional open-heart surgeries that entail substantial incisions for heart access, minimally invasive methods employ diminutive incisions or keyhole openings. This approach diminishes trauma to adjacent tissues, yielding less pronounced scars. Moreover, the integration of robotic systems facilitates surgeons in executing intricate procedures with heightened precision through these limited incisions. These robotic systems offer an extended range of motion and dexterity, surpassing what human hands can achieve independently. The integration of advanced monitoring systems with the equipment was on the rise, enabling the real-time monitoring of essential parameters throughout surgical procedures. These monitoring systems offered instant insights into the patient's status, furnishing surgeons with immediate information to enhance surgical outcomes.
SEGMENTATION
-
Request a Free Sample to learn more about this report
- By Type
Based on type the market is classified as single roller pump cardiopulmonary bypass equipment, and double roller pump cardiopulmonary bypass equipment.
- By Application
Based on application the market is classified as cardiac surgery, lung transplant operation, acute respiratory failure treatment, and others.
DRIVING FACTORS
"Prevalence of Cardiovascular Diseases to Increase the Market Demand"
The cardiopulmonary bypass equipment market growth is notably driven by the prevalent incidence of cardiovascular diseases, which directly correlates with the demand for cardiac surgeries and related the equipment. The substantial global disease burden is largely linked to cardiovascular issues like coronary artery disease, heart failure, and valvular disorders, all of which frequently necessitate surgical interventions. This highlights the pivotal role of the equipment in meeting the escalating demands of this expanding market.
"Aging Population to Stimulate Market Progress"
The aging demographic stands as a notable driving force within the cardiopulmonary bypass equipment market, primarily owing to its impact on the frequency of cardiovascular diseases and the subsequent need for cardiac surgical procedures. With advancing age, the susceptibility to conditions like coronary artery disease, valvular heart disease, and arrhythmias rises significantly. These ailments frequently necessitate interventions and surgeries targeting the heart, in the equipment assumes a pivotal function.
RESTRAINING FACTORS
"High Costs to Damage Market Growth "
The considerable expenses linked to the equipment constitute a notable impediment to the market's expansion. These expenditures span across multiple phases, including equipment conception, fabrication, implementation, and upkeep. The creation of sophisticated equipment necessitates a substantial outlay in research and development. Engineers, scientists, and medical professionals collaborate to engineer equipment adhering to safety norms, incorporating enhanced features, and mitigating potential surgical risks.
REGIONAL INSIGHTS
-
Request a Free Sample to learn more about this report
"North America is a robust healthcare infrastructure is evident to Drive Market Share"
North America enhancing the comprehension of the market dynamics is greatly enriched through the exploration of regional viewpoints. Within this specific region, a robust healthcare infrastructure and a substantial prevalence of cardiovascular diseases establish a clear presence. The incorporation of state-of-the-art technologies, coupled with favorable reimbursement policies, cultivates the adoption of advanced equipment, consequently contributing to the expansion of cardiopulmonary bypass equipment market share. However, it's important to acknowledge that challenges like meticulous cost assessments and regulatory mandates persist as pivotal factors requiring attention.
KEY INDUSTRY PLAYERS
"Multitude of companies that played a pivotal role in availability of the Product Propel the Market Growth"
These major industry participants play a critical role in driving innovation, progress, and the widespread availability of this equipment. Their significant contributions shape the market's direction and propel advancements in the realm of cardiac surgery. One example is a renowned international medical technology corporation that provides an array of these equipment and associated solutions, with a primary focus on improving patient results in cardiac surgical procedures.
List of Market Players Profiled
- Sorin (Europe)
- MAQUET (Europe)
- Medtronic (Europe)
REPORT COVERAGE
The future demand for the cardiopulmonary bypass equipment market is covered in this study. The Research report includes the Impact of Innovation and Adaptation due to the COVID-19 Impact. The report covers the latest trends in Minimally Invasive Approaches. The paper includes a segmentation of the market. The research paper includes the driving factors that are Prevalence of Cardiovascular Diseases to Fuel Market Growth. The report also covers information on Regional Insights where the region which has emerged leading market for cardiopulmonary bypass equipment.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 421 Million in 2021 |
Market Size Value By |
US$ 810.9 Million by 2028 |
Growth Rate |
CAGR of 9.7% from 2021 to 2028 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the global cardiopulmonary bypass equipment market expected to touch by 2028?
The global cardiopulmonary bypass equipment market size is expected to reach USD 810.9 million by 2028.
-
What CAGR is the global cardiopulmonary bypass equipment market expected to exhibit by 2028?
The global cardiopulmonary bypass equipment market is expected to exhibit a CAGR of 9.7% by 2028.
-
Which are the driving factors of the Cardiopulmonary Bypass Equipment market?
The driving factors of the Cardiopulmonary Bypass Equipment market are Prevalence of Cardiovascular Diseases and Aging Population.
-
Which are the key players or most dominating companies functioning in the Cardiopulmonary Bypass Equipment market?
Sorin, MAQUET, and Medtronic are the key players or most dominating companies functioning in the Cardiopulmonary Bypass Equipment market.