by The cardiopulmonary bypass equipment market comprises equipment that performs the function of an artificial heart-lung machine during various cardiovascular/thoracic surgical procedures. Cardiopulmonary bypass equipment involves components such as oxygenators, pumps, tubing sets, and accessories that divert blood from the upper part of the body to an artificial heart-lung machine and pump oxygenated blood back to the tissues during surgery. Rising prevalence of cardiovascular diseases (CVDs), increasing number of cardiology surgeries, and technological advancements in cardiopulmonary bypass equipment are some of the key factors driving the growth of this market.
The Global cardiopulmonary bypass equipment market is estimated to be valued at US$ 138.26 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024-2030.
Key Takeaways
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.
Some of the key opportunities in the cardiopulmonary bypass equipment market include growing demand for minimally invasive cardiac surgeries and development of bioengineered organs. The cardiopulmonary bypass equipment market players are focused on developing integrated and easy-to-use cardiopulmonary bypass equipment for minimally invasive cardiac procedures.
Globally, rising healthcare expenditure, increasing adoption of advanced medical technologies, and growing medical tourism in developing nations are fueling the expansion of the cardiopulmonary bypass equipment market. The market players are enhancing their regional presence through mergers and acquisitions to leverage growth opportunities in developing nations.
Market Drivers
The rising prevalence of cardiovascular diseases worldwide is a major factor driving the growth of the Cardiopulmonary Bypass Equipment Market Growth. CVDs such as coronary artery diseases, heart failure, cardiomyopathies are among the leading causes of death globally. For instance, according to American Heart Association (AHA), cardiovascular diseases account for over 17 million deaths annually across the globe. This increasing disease burden has augmented the demand for cardiology interventions and cardiopulmonary bypass equipment. Technological advancements in cardiopulmonary bypass equipment enabled minimally invasive and simplified cardiovascular procedures. Introduction of advanced equipment with minimal invasiveness and simplified design is fueling the adoption of cardiopulmonary bypass equipment globally.
PEST Analysis
Political: Governments across various countries are supporting investments into healthcare infrastructure and funding for new medical developments. This is positively impacting investments in cardiopulmonary bypass equipment manufacturing.
Economic: With overall economic growth, more healthcare budgets are available for upgrading cardiac care facilities with latest equipment. Demand is increasing from developing nations.
Social: Rising lifestyle diseases, growing geriatric population and increasing complexity of cardiac cases is driving the need for advanced cardiopulmonary bypass equipment in surgical procedures.
Technological: Manufacturers are developing innovative portable and miniaturized cardiopulmonary bypass equipment with advanced functionality. New materials and digital technologies allow for improved safety, reliability and cost-effectiveness.
The regions where the cardiopulmonary bypass equipment market is concentrated in terms of value are North America and Western Europe. Both regions have sophisticated healthcare infrastructure and high purchasing power. A majority of key players are also headquartered here.
The Asia Pacific region is growing the fastest for the cardiopulmonary bypass equipment market. With rising incomes, more people now have access to non-emergency cardiac surgeries. Countries like China, India and Japan are seeing heavy demand as their populations age and suffer from heart diseases. Governments are allocating increased funds for modernizing hospitals. Manufacturers are also expanding into these emerging markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
