Global Cardiopulmonary Devices Market is set to witness a 5% growth by 2026 - Key Market Players are LivaNova, Getinge, Terumo, Medtronic, Abbott, Abiomed, Haemonetics, Fresenius

Cardiopulmonary diseases include a range of medical conditions which affect the heart and lungs. Cardiopulmonary devices include Eart-Lung Machines (HLM), Percutaneous Ventricular Assist Devices (PVAD), Extracorporeal Membrane Oxygenation (ECMO) & Autotransfusion (ATS). These devices find their applications in cardiac surgeries, pulmonary surgeries, congenital defects, cardiopulmonary bypass procedures, cardiogenic shock/respiratory failure, joint replacement surgeries, aneurysm surgeries, transplants, and other indications.

Impact of Covid-19 Pandemic on the Cardiopulmonary Devices Market

During 2020-2021, most of the patients infected with the Covid-19 virus had showcased moderate symptoms and recovered quickly. However, some patients developed severe respiratory failure and required intensive care unit (ICU) admission and mechanical ventilation. To treat and save the lives of these Covid-19 patients, ECMO emerged as a promising treatment option. The ECMO machine supports both the heart and lungs and stabilizes patients to allow their bodies more time to fight the virus.

Increasing awareness on ECMO, HLM & other cardiopulmonary devices and the implementation of new ECMO centers during the COVID-19 pandemic further boosted the growth of the cardiopulmonary devices market.

Favourable Regulatory Policies in Major Regions Boosted the Cardiopulmonary Devices Market Demand

To fight the Covid-19 pandemic and to offer cardiopulmonary and advanced circulatory support products and therapies that may benefit Covid-19 virus-infected patients, in April 2020 the FDA permitted manufacturers of cardiopulmonary bypass devices to modify the product indications for use to include ECMO therapy for greater than six hours, without prior submission of a premarket notification to FDA. The favourable regulatory policy change resulted in increased sales of cardiopulmonary and advanced circulatory support products.

"ECMO has emerged as a game-changer for Covid-19 patients. It has proven to be a life saver. More than 200 patients at our hospital who have been on ECMO longer than 24 hours have recovered."-Director, Mechanical Circulatory Support & ECMO, Leading Hospital, United States

Competitive Landscape Analysis: Cardiopulmonary Devices Market

The cardiopulmonary devices market is marked by the presence of established market players such as LivaNova, Getinge, Terumo, Medtronic, Abbott, Abiomed, Haemonetics, Fresenius, among others.

Growth Strategies Adopted by Leading Market Players to Establish Their Foothold in Cardiopulmonary Devices Market

The global cardiopulmonary devices market is marked by the presence of both established and new industry players. Players operating in the global market have adopted both organic and inorganic growth strategies such as acquisitions, and new product launches to garner a higher market share.

For instance,
• In February 2022, Getinge acquired 100% of the equity interest in Talis Clinical LLC, a US-based leading innovator of High Acuity cloud-based software solutions.
• In October 2021, MicroPort acquired 100% of the equity held by existing shareholders of Hemovent GmbH. Hemovent specializes in the development of ground-breaking Extracorporeal Life Support (ECLS) systems.

The cardiopulmonary devices market is projected to grow at a decent rate in the upcoming years due to the rising cases of cardiopulmonary cases, technological advancements in cardiopulmonary devices, growing number of orthopaedic & transplant procedures, and an increasing aging population.

Get Detailed Insights on Cardiopulmonary Devices Market with TOC & Sample Report @ https://meditechinsights.com/cardiopulmonary-devices-market/

Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
https://meditechinsights.com/

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.