Cardiopulmonary Bypass Equipment Market Driven By Growing...

Cardiopulmonary Bypass Equipment Market Driven By Growing Cardiovascular Disease Prevalence

Veröffentlicht 2024-02-19 11:50:07

The global Cardiopulmonary Bypass Equipment market is expected to witness steady growth due to growing prevalence of cardiovascular diseases and increasing demand for advanced open-heart surgeries. Cardiopulmonary bypass equipment which includes oxygenators, pumps, cannulae and tubing are an integral part of open-heart and other complex cardiac surgeries. They help maintain the circulation of blood and oxygenate blood during these procedures. Technological innovations have led to improved biocompatibility and less invasive options. For example, miniaturized cardiopulmonary bypass units are making surgeries less complex.

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 to 2030.

Key Takeaways
Key players operating in the Cardiopulmonary Bypass Equipment market are Dow, Henkel, BASF, Nordson, LORD Corporation. Growing prevalence of cardiovascular diseases and rising geriatric population are driving the demand for cardiopulmonary bypass equipment globally. In addition, availability of innovative products and focus on emerging markets by key players is expected to boost the cardiopulmonary bypass equipment market during the forecast period.

Key players like Medtronic, Sorin Group, MAQUET Holding, Terumo Corporation, Braile Biomedica are focusing on geographic expansion and new product launches to capitalize on market opportunities. The rising demand, especially in developing regions of Asia Pacific and Latin America will prompt manufacturers to target these emerging economies.

Market drivers
Growing prevalence of cardiovascular diseases is a major factor powering the Cardiopulmonary Bypass Equipment Market Growth According to the World Health Organization, cardiovascular diseases accounted for over 17 million deaths in 2015 and are expected to remain the leading cause of death globally by 2030. Rising obesity rates, unhealthy diets and lack of physical activity are contributing to higher CVD risk in the developing world. With growing access to healthcare and availability of innovative treatment options in these regions, the demand for cardiopulmonary bypass equipment is set to increase notably over the forecast period.

Impact of current geopolitical situation on Cardiopulmonary Bypass Equipment Market growth
The ongoing geopolitical tensions and economic instability across many regions of the world are negatively impacting the growth of the global cardiopulmonary bypass equipment market. Many countries which are major markets for cardiopulmonary devices have seen their currencies depreciate substantially against the US dollar in 2022. This has made imported medical devices and technologies significantly more expensive. At the same time, rising interest rates and high inflation are reducing the discretionary healthcare spending in several economies. Many developing markets which held promise for future Cardiopulmonary bypass equipment sales have also witnessed political turmoil and conflicts this year. To sustain growth in such a volatile environment, market players must diversify their supplier networks, explore local manufacturing/assembly options in key regions, and offer flexible pricing models factoring in currency fluctuations. Regional partnerships and collaboartions can help expand access to critical care therapies while managing costs and risks.

Geographical regions concentration in terms of cardiopulmonary bypass equipment market value
In terms of market value, North America dominates the global cardiopulmonary bypass equipment landscape holding around 35% share as of 2024. This is primarily owing to high adoption rates of advanced medical devices and growing prevalence of cardiovascular disorders in countries like the US and Canada. Similarly, major European economies including Germany, UK, France contribute over 30% share with universal healthcare coverage and strong reimbursement support boosting product affordability. On the other hand, Asia Pacific region is estimated to account for 20-22% market share but offers highest growth potential. Rapid economic development, rising medical tourism, increasing investments in healthcare infrastructure and growing medical needs of burgeoning middle class are fueling demand across Asia Pacific nations. Countries like China, Japan, India stand out as emerging high value markets with low penetration of cardiopulmonary bypass devices currently, offering opportunities for manufacturers.

Fastest growing region for cardiopulmonary bypass equipment market
Among all regions, Asia Pacific is poised to witness fastest growth in the cardiopulmonary bypass equipment market during the forecast years of 2024 to 2030. This can be attributed to rising expenditure on healthcare quality improvement programs by APAC governments. Simultaneously, growing incidence of lifestyle disorders like coronary heart disease, expanding pool of elderly population, increasing medical awareness combined with rapid strides made in surgical specialities are deepening cardiopulmonary disease management needs across populous APAC nations. With many regional nations aiming to provide universal access to critical care, cardiopulmonary bypass equipment sales are likely to scale new peaks, especially in India and China markets which accommodate over one-third of world's population. To leverage the opportunities, global industry players as well as local startups need to optimize localized manufacturing and supply chains, launch affordable product lines tailored to Asia's needs.