Artificial Lung Market Size, Current Trends And Forecast To 2033

"The new report published by The Business Research Company, titled ""Artificial Lung Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the artificial lung market size has grown rapidly in recent years. It will grow from $2.06 billion in 2023 to $2.31 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The artificial lung market size is expected to see rapid growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%.

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The Rising Prevalence Of Respiratory Diseases Fuels Artificial Lung Market
The increasing prevalence of respiratory diseases is expected to propel the growth of the artificial lung market going forward. The prevalence of respiratory diseases is increasing due to a combination of factors, including rising air pollution, climate change, and lifestyle changes, leading to a significant burden on public health. Artificial lungs are used in respiratory diseases to provide oxygenation and remove carbon dioxide from the blood, supporting or replacing impaired lung function. For instance, in June 2024, according to the Australian Institute of Health and Welfare, an Australia-based health and welfare agency, approximately 8.5 million people in Australia, or 34% of the population, were estimated to have chronic respiratory conditions. This includes an estimated 2.8 million people, or 11% of the population, living with asthma, and 638,000 people, or 2.5% of the population, living with chronic obstructive pulmonary disease (COPD). Therefore, the increasing prevalence of respiratory diseases is driving the growth of the artificial lung market.

Advanced Respiratory Support Systems Enhanced The Artificial Lung Market
Major companies operating in the artificial lung market are developing innovative solutions, such as respiratory support systems, to enhance patient care and outcomes. Respiratory support systems are medical devices that assist or maintain a patient's breathing. For instance, in December 2021, ALung Technologies Inc., a US-based provider of medical products, received US Food and Drug Administration approval for the Hemolung Respiratory Support System, an artificial lung device. It is the first and only extracorporeal carbon dioxide removal (ECCO2R) device indicated for respiratory support that provides extracorporeal CO2 removal from the patient's blood for up to 5 days in adults with acute, reversible respiratory failure when ventilation of CO2 cannot be adequately or safely achieved using other available treatment options and continued clinical deterioration is expected.

The artificial lung market covered in this report is segmented -

1) By Product Type: Single Roller Pump Heart Lung Machines, Double Roller Pump Heart Lungs Machines, Bubble Artificial Lung, Membrane Artificial Lung
2) By Application: Cardiac Surgery, Lung Transplant Operation, Acute Respiratory Failure Treatment, Other Applications
3) By End-Users: Hospital, Emergency Center, Other End-users

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Major companies operating in the artificial lung market are Terumo Corporation, Getinge AB, Abiomed Inc., MicroPort Scientific Corp., Charles Stark Laboratory Inc., TransMedics Group Inc., Braile Biomédica Ltd., Xenios AG, MC3 Cardiopulmonary Inc., Lung Biotechnology PBC, Breethe Inc., Levitronix LLC, Medos Medizintechnik AG, ALung Technologies Inc., McGowan Institute for Regenerative Medicine, Hemovent GmbH, Novalung GmbH, Haemair Ltd., MedArray Inc., Vivonics Inc., Extracorporeal Life Support (ECLS) Lab

Contents of the report:
1. Executive Summary
2. Artificial Lung Market Report Structure
3. Artificial Lung Market Trends And Strategies
4. Artificial Lung Market - Macro Economic Scenario
5. Artificial Lung Market Size And Growth
…..
27. Artificial Lung Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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