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Cardiopulmonary Bypass Accessory Equipment Global Market Observe Highest Growth of $20.28 Billion with an Excellent CAGR of 6.8% by 2028 | Abbott, Medtronic, Fresenius Medical Care, Terumo Corporation
Cardiopulmonary Bypass Accessory Equipment Market
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According to The Business Research Company's, The cardiopulmonary bypass accessory equipment market size has grown strongly in recent years. It will grow from $14.63 billion in 2023 to $15.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to increasing awareness of cardiovascular disease, growing specialized cardiothoracic surgery programs, increasing number of organ transplant survivors, rising cases of cardiac illnesses, and a growing aging population.
The cardiopulmonary bypass accessory equipment market size is expected to see strong growth in the next few years. It will grow to $20.28 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to the rising prevalence of cardiovascular disease, growing prevalence of acute respiratory failure, expanding and modernizing healthcare facilities, increasing funding and investments, and increasing medical tourism. Major trends in the forecast period include integration with digital health technologies, miniaturization and portable devices, biocompatible and advanced materials, integration of artificial intelligence, and a surge in product development activities.
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Market Drivers and Trends:
The growing prevalence of acute respiratory failure is expected to propel the growth of the cardiopulmonary bypass accessory equipment market. Acute respiratory failure occurs when the respiratory system fails in one or both of its gas exchange activities, such as oxygenation and carbon dioxide removal. Acute respiratory failure is rising due to several factors, including the aging population, infectious diseases, and medical procedures. Cardiopulmonary bypass equipment responds to the demand for advanced respiratory support by providing comprehensive oxygenation and ventilation management in ICUs and hospitals, effectively maintaining complex situations of respiratory distress. For instance, in April 2024, according to the Australian Bureau of Statistics, an Australian-based government agency, there were 361 deaths due to respiratory syncytial virus (RSV) in 2023, up from 241 in 2022. Therefore, the growing prevalence of acute respiratory failure is driving the growth of the cardiopulmonary bypass accessory equipment market.
Major companies operating in the cardiopulmonary bypass accessory equipment market are developing advanced perfusion systems to ensure safe and effective cardiopulmonary bypass procedures through advanced features and better clinical workflows. The perfusion system comprises a next-generation heart-lung machine (HLM) and precise sensing technology for data-driven decision-making for safe cardiopulmonary bypass (CPB) management. For instance, in March 2023, LiveNova PLC, a UK-based company that develops devices used for cardiac surgery, launched the Essenz Heart-Lung Machine (HLM) and Essenz Patient Monitor, which together form the Essenz Perfusion System. Essenz's heart-lung machine system, based on LivaNova's proven S5 HLM, enhances clinical workflows and patient care quality. The device has several elements that prevent air bubbles and other possible emboli from entering the patient's bloodstream, lowering the risk of stroke and other problems. It features intra-operative quality indicator thresholds and goal-directed perfusion (GDP) modules to provide personalized patient care strategies.
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Major Key Players of the Market:
Abbott, Medtronic, Fresenius Medical Care, Terumo Corporation, Edwards Lifesciences Corporation, B. Braun Medical, NIPRO, Getinge AB, ABIOMED, LivaNova Inc., MicroPort Scientific Corporation, Nonin, Spectrum Medical, Braile Biomédica, Mercury Medical, EUROSETS, Chalice Medical Ltd., Surge Cardiovascular, Andocor, Senko Medical Instrument Mfg. Co. Ltd.
Cardiopulmonary Bypass Accessory Equipment Market 2024 Key Insights:
• The cardiopulmonary bypass accessory equipment market size is expected to see strong growth in the next few years. It will grow to $20.28 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Rising Acute Respiratory Failure Rates Fuel The Cardiopulmonary Bypass Accessory Equipment Market Growth
• Advanced Cardiopulmonary Bypass Systems Enhancing Surgical Safety And Efficiency
• North America was the largest region in the cardiopulmonary bypass accessory equipment market in 2023
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