Cardiopulmonary Bypass Equipment Market – Insights
Cardiopulmonary bypass equipment is a machine which takes over the function of heart and lungs to maintain the circulation of blood and the oxygen content of the patient's body during coronary bypass heart surgery. This equipment also known as heart lung machine. Cardiopulmonary bypass machine consists of two main components, the pump and the oxygenator which remove oxygen-deprived blood from a patient's body and replace it with oxygen-rich blood through a series of hoses. Surgeons are able to perform coronary artery bypass grafting (CABG), for valve repair or repair of cardiac anomalies, and aortic aneurysm repairs, along with treatment of other cardiac-related diseases.
The global cardiopulmonary bypass equipment market size was valued at US$ 111.33 million in 2017, and is expected to witness a CAGR of 1.2% over the forecast period (2018 – 2026).
Figure 1. Global Cardiopulmonary Bypass Equipment Market Share Analysis (%), By Product Type
Source: Coherent Market Insights Analysis (2018)
Increasing number of cardiovascular disease is expected to drive growth of the cardiopulmonary bypass equipment market
The increase in the prevalence of cardiovascular diseases like atrial fibrillation, atrial flutter and supraventricular tachycardia, decrease in heart muscle elasticity, decrease in heart output, aging population are the driving factors for the growth of cardiopulmonary bypass equipment market
For instance, According to the American Heart Association, in 2013, cardiovascular disease is the foremost global cause of deaths among the population, accounting for about 17.3 million deaths per year. According to the same report, the number of deaths is expected to rise to around 23.6 million by 2030.
Increasing adoption of unhealthy dietary habits, lack of proper exercise, increasing stress, and sedentary lifestyles are increasing occurrences of heart-related diseases, especially heart failures. This in turn is increasing demand for cardiopulmonary bypass equipment, thus expected to boost market growth over the forecast period.
Increasing number of organ transplant surgeries is expected to drive growth of the market over the forecast period. For instance, according to Organ and Tissue Authority of Australian Government, the number of surgeries performed for organ transplant in 2017 were around1, 469. Moreover, around 1,400 Australians are waiting for organ transplant.
However, recall of the components of cardiopulmonary bypass equipment may hinder the growth of the market during the forecast period. For instance, in October 2012, US FDA terminated the Maquet HL Console for Heart Lung Machine HL20 for its device design. As Maquet HL 20 Twin Pump Modules may unintentionally increase speeds for a 1.5-2 second period of time before returning to its original speed.
Cardiopulmonary Bypass Equipment Market - Regional Analysis
Regional segmentation of the global cardiopulmonary bypass equipment market by Coherent Market Insights comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold a dominant position in global cardiopulmonary bypass equipment market over the forecast period, due to increasing prevalence of cardiovascular diseases in the region. According to the American Heart Association (AHA), 2017, about 92.1 million adults in the U.S. are suffering from some form of cardiovascular disease or the after-effects of stroke. AHA also stated in its report, that direct and indirect costs of cardiovascular diseases and stroke are estimated to account for US$ 316 billion, including health expenditures and lost productivity.
Asia Pacific is expected to witness fastest growth in the global cardiopulmonary bypass equipment market due to increasing patient pool and growing medical tourism for various surgeries in the region. For instance, according to Directorate-General of Commercial Intelligence and Statistics of India, in 2015 - 2016, hospitals in India recorded 460,000 international patients.
Emerging economies such as Asia Pacific and Latin America has huge potential for market growth and is likely to be the fastest growing region throughout the forecast period.
Figure 2: Global Cardiopulmonary Bypass Equipment Market Share (%), By Region
Source: Coherent Market Insights Analysis (2018)
Cardiopulmonary Bypass Equipment Market - Competitive Landscape
Manufacturers are engaging on providing innovative products to various hospitals through collaborative relationships with them
In June 2014, Sorin Group celebrates the delivery of its 10,000th heart-lung machine (S5 heart-lung machine) to Brigham and Women’s Hospital, Boston, MA, USA. Thus achieved exciting milestone that reflects the tremendous trust and collaborative partnership with their customers worldwide
Key players operating in the cardiopulmonary bypass equipment market include Medtronic Plc, LivaNova PLC, MAQUET Holding B.V. & Co. KG., Terumo Corporation, Braile Biomedica, and Tianjin Medical
Cardiopulmonary bypass equipment bypass the heart and lungs and in turn circulates oxygenates blood throughout the body. It also maintain perfusion to other body tissues and organs while the surgeon works in a bloodless surgical field. The machine may consist of venous and arterial cannula (tubes), polyvinyl chloride (PVC) or silicone tubing, reservoir (to hold blood), bubbler or membrane oxygenator, cardiotomy (filtered reservoir), heat exchanger(s), arterial line filter, pump(s), flow meter, inline blood gas and electrolyte analyzer, and pressure-monitoring devices.
According to Centers for Disease Control and Prevention (CDC), around 5.7 million individuals in the U.S. suffered from heart failure in 2016. The report suggests that the number of occurrences is likely to increase, with the increase in number of aging of the population in this region.
According to the American Heart Association, around 2,200 people in the U.S. die from cardiovascular disease every day, an average of 1 death per 40 seconds. This staggering number of patients suffering from heart diseases will result in growth in cardiopulmonary bypass equipment market.
However, cardiopulmonary bypass equipment market is expected to grow at very low pace owing to shift in trend towards the adoption of technologically advanced less invasive operating equipment- Off-Pump Coronary Artery Bypass (OPCAB) Beating Heart System which allow the surgeon to bypass a blocked coronary artery of the beating heart in a controlled operative environment. Thus reduce the complications attributed to cardiopulmonary bypass
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 22 market data tables and 19 figures on "Cardiopulmonary Bypass Equipment Market” - Global forecast to 2026”.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.