Heart Lung Machine Market Report Overview
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The global heart lung machine market size is anticipated to be worth USD 289.7 million in 2021 and is projected to touch USD 401.9 million by 2031 with a CAGR of 3.3% during the forecast period.
A tool called a heart lung machine is used during open heart surgery to maintain the patient's body while the heart is halted. The heart-lung machine, sometimes known as the "pump," replaces the function of the patient's heart and lungs during surgery. A number of tubes are used to connect the machine to the patient; these tubes are then taken out once the surgery is over and the patient's heart and lungs are functioning normally.
COVID-19 Impact: Intrinsic COVID-19 Condition Foster Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the heart lung machine experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The coronavirus epidemic has put a lot of strain on the world's healthcare system, but due to the concerted efforts of industry participants and medical professionals, there are significant growth potential for manufacturers of medical equipment. Due to an increase in heart failure cases and cardiac surgeries, the heart lung machine market is expanding. One of the main causes of heart issues, which can require surgery, is an increase in the number of elderly people. Other key factors include excessive stress, bad eating patterns, obesity, and disturbed sleep patterns.
Latest Trends
"Increasing Geriatric Population to Transform Market Outlook"
A larger chance of developing various health problems, particularly heart-related diseases, exists among older people. As a result, the heart lung machine market is seeing profitable opportunities as the global geriatric population grows. In addition, the demand for implant procedures is increasing as more elderly people are experiencing organ failure. Heart-lung machines have a number of benefits, including a high level of effectiveness, safety, and user-friendliness. Companies in the worldwide heart lung machine market are therefore expanding their manufacturing capacities in response to the market's increasing demand.
Heart Lung Machine Market Segmentation
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- By Product Type
Based on materials the zebrafish market is classified into Single Roller Pump Heart Lunch Machine and Double Roller Pump Heart Lung Machine.
- By Application
Based on application the zebrafish market is classified as Cardiac Surgery, Lung Transplant Operation, Acute Respiratory Failure treatment, and Others.
DRIVING FACTORS
"R&D Activities to Boost Market Share "
Globally, the number of open-heart operations, heart transplants, and lung operations has significantly increased in recent years. This is mostly due to a number of environmental and lifestyle modifications that have increased the frequency of cardiovascular illnesses and the occurrence of organ failure. In addition, governments in a number of developing countries are working to enhance patient access to healthcare, which is increasing demand for artificial heart-lung machines. Additionally, industry participants are spending money on R&D projects to update the oxygenator pumps that are currently on the heart lung machine market. These initiatives have resulted in the creation of modular heart-lung devices that are affordable, secure, and easy to operate.
"Increasing Cases of Cardiovascular Diseases to Foster Market Development"
The global market for heart lung machine is driven by the increasing frequency of cardiovascular illnesses. For instance, according to data from the British Heart Foundation, 168,319 deaths in 2020 were attributed to CVD. The prevalence of cardiovascular diseases is increasing due to a number of factors, including the ageing population, rising disposable income, changing lifestyles, smoking, and others. For instance, the world health organization predicted that there would be about 1 billion people aged 60 and over in the world in 2020. The number of elderly people is predicted to reach 2.1 billion by 2050. Additionally, tobacco use causes more than 8 million deaths worldwide each year, of which approximately 7 million are directly related to tobacco use and about 1.2 million occur as a result of secondhand smoke.
RESTRAINING FACTORS
"Certain Limitations to Repel Market Players"
The artificial-heart-lung machine market is likely to rise, but strict restrictions and a lack of qualified healthcare personnel are predicted to impede its development.
Heart Lung Machine Market Regional Insights
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"Technological Advancements to Augment Growth in North America"
North America is the largest market accounting heart lung machine market share globally. anticipated to account for the greatest share. The U.S., Canada, and Mexico make up the North American area. This high level of domination can be due to ongoing technical development, rising demand for minimally invasive procedures, and an increase in the number of heart disease patients.
Due to an increase in cardiac procedures in the region, the European market is anticipated to expand rapidly during the forecast period. Over the next seven years, it is also anticipated that increased prevalence rates and public awareness of lung transplantation will greatly accelerate heart lung machine market growth.
KEY INDUSTRY PLAYERS
"Prominent Manufacturers to Contribute Towards Expansion of Market"
The report is extensive research which presents the historic and futuristic performance of industry with competitive landscape analysis which incorporates prominent key players, and revenue trends of industry. The market for artificial heart-lung machines is expanding on a global scale thanks to the leading players' use of various tactics, including product launches, mergers and acquisitions, partnerships, and collaborations.
List of Market Players Profiled
- LivaNova (Sorin) (U.S.)
- Getinge (Maquet) (Germany)
- Medtronic (Ireland)
- Terumo CV Group (Japan)
- Braile Biomedica (Brazil)
- Tianjin Medical (China)
REPORT COVERAGE
The report anticipates a detailed analysis of the global market size at the regional and national level, the ssegmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Aanalysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 289.7 Million in 2021 |
Market Size Value By |
US$ 401.9 Million by 2031 |
Growth Rate |
CAGR of 3.3% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the heart lung machine market expected to touch by 2031?
The global heart lung machine market is expected to reach USD 401.9 million by 2031.
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What CAGR is the heart lung machine market expected to exhibit by 2031?
The heart lung machine market is expected to exhibit a CAGR of 3.3% by 2031.
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Which are the driving factors of the heart lung machine market?
The increasing cases of cardiovascular diseases and R&D activities are the driving factors of the heart lung machine market.
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Which are the top companies operating in the heart lung machine market?
LivaNova (Sorin), Getinge (Maquet), Medtronic, Terumo CV Group, Braile Biomedica, Tianjin Medical are the companies operating in the heart lung machine market.
