Adult and Pediatric Hemoconcentrators Market- Insights
A hemoconcentrator is a device used for removal of fluid during cardio bypass surgery. Hemoconcentrators are introduced in extracorpeal circuit where it controls hemodilution, maintains hematocrit levels, and reduces the need for additional blood products during and after surgery. Hemoconcentrators are widely used during cardiac bypass surgery and has become the ideal method for controlling hemodilution during cardiopulmonary surgery by surgeons and perfusionists.
High prevalence of cardiovascular diseases is expected to lead to high demand for hemoconcentrators and thus drive the adult and pediatric hemoconcentrators market growth
Hemoconcentrators are widely used devices during cardio bypass surgery. High prevalence of cardiovascular diseases is expected to be a major factor propelling demand for hemoconcentrator. According to the data published by World Health Organization (WHO) in 2017, cardiovascular diseases is the leading cause of death globally. Annually, more people die from cardiovascular diseases than from any other cause.
According to the data published by World Health Organization (WHO) in 2018, an estimated around 17.7 million people died from cardiovascular diseases in 2015, representing 31% of all global deaths. Such high prevalence of cardiovascular diseases is expected to lead to high demand for hemoconcentrators and drive global adult and pediatric hemoconcentrators market growth over the forecast period.
Key players in the market include Terumo Corporation, LivaNova Plc., Medtronic Plc., etc. All these key players manufacture and market their own novel hemoconcentrators developed from different materials with different advantages. For instance, in 2011 Minntech Corporation (a Cantel Medical Corporation company) introduced The Hemocor HPH Hemoconcentrator made with Eastman Chemical Company’s Tritan Copolyester. Tritan is a new-generation copolyester that offers the benefits of toughness, chemical resistance, and color stability after sterilization for renal medical device housings.
The global adult and pediatric hemoconcentrators market size was valued at US$ 10.7 Mn in 2017, and is expected to witness a CAGR of 3.3% during the forecast period (2018 – 2026).
North America is expected to hold dominant position in the market, owing to frequent approvals of new adult and pediatric hemoconcentrators by regulatory bodies
North America is expected to hold dominant position in global adult and pediatric hemoconcentrators market over the forecast period, owing to high prevalence of cardiovascular diseases in the U.S. and rising healthcare awareness in region.
For instance, according to the data published by American Heart Association in 2018, around 92.1 million adults in the U.S. are suffering from some form of cardiovascular disease or the after-effects of stroke. Cardiovascular diseases, listed as the underlying cause of death, accounts for around 836,546 deaths in the U.S.
Figure 1. Global Adult and Pediatric Hemoconcentrators Market Share (%) Analysis, By End User, 2018, 2026
Source: Coherent Market Insights Analysis (2019)
Figure 2. Global Adult and Pediatric Hemoconcentrators Market Share (%) Analysis, By Region, 2026
Source: Coherent Market Insights Analysis (2019)
The U.S. Food and Drug Administration (FDA) regulates and grants approval to hemoconcentrator and the U.S. FDA also recalls products in case of any problem in device. For instance, in 2015, the U.S. Food and Drug Administration recalled Terumo Custom Cardiovascular Procedure Kit X-Coated Adult Pak. The custom cardiovascular procedure kits contain recalled component, Medivators HPH700, the high performance hemoconcentrators.
Furthermore, key players in the market are involved in strategic merger and acquisition activities in order to strengthen their position in the market and to gain higher market share in global adult and pediatric hemoconcentrators market. For instance, in 2015, Italy-based Sorin S.p.A—a manufacturer of hemoconcentrators with presence in France, Italy, Japan, and Texas—merged with U.S.-based company, Cyberonics, Inc., to form a company named LivaNova, Plc. With this, the merged company is expected to strengthen and expand its presence in the global market.
Key players operating in the global adult and pediatric hemoconcentrators market include Medivators Inc., Terumo Corporation, LivaNova, PLC, Maquet (a Getinge Group company), Medica S.p.A, and others.
Hemoconcentrators are medical devices used by healthcare professionals or perfusionist (health care professional who operates heart-lung bypass equipment), to concentrate red blood cells and remove excess fluid from the bloodstream during surgery. During surgery, the entire blood volume of the patient passes through the hemoconcentrator.
Hemoconcentrators is gaining significant traction in cardio bypass surgery, as it reduces the need for homologous blood and blood products by providing patients with their own concentrated whole blood. It maintains the desired hematocrit level for oxygen transport to tissues; it decreases the risk of post-operative bleeding through the retention of platelets and plasma coagulation proteins; it maintains oncotic pressure by retaining plasma proteins while quickly and gently removing excess plasma water; and minimizes the need for diuretic use, which may be contraindicated for some patients.
Hemoconcentrators are widely used as gold standard for removal of fluid during cardio bypass surgery. Cardiovascular diseases are the most common and life threatening diseases.
For instance, according to the data published by Centers of Disease Control and Prevention (CDC), heart diseases are the leading cause of death in the U.S. Annually around 630,000 people in the U.S. die from heart diseases, which is around 1 in every 4 deaths. According to the same source in the U.S., one patient suffers from heart attack in every 40 seconds. Each minute, more than one person in the U.S. dies from heart disease.
Such high prevalence of cardiovascular diseases in key regions such as North America and Asia-Pacific is expected to be a major factor propelling demand for hemoconcentrators and drive global adult and pediatric hemoconcentrators market growth over the forecast period.
Furthermore, key players in the market are adopting strategic partnership and collaboration activities for expanding its presence in the market. For instance, in 2016, MEDIVATORS Inc. (a Cantel Medical Corporation company), a manufacturer of Hemocor HPH family hemoconcentrators expanded its direct sales operations in Canada by acquiring endoscope reprocessing business assets from its Canadian distributor, Vantage Endoscopy, Inc., a subsidiary of Diploma Canada Holdings Ltd.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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