The Global Cardiopulmonary Bypass Equipment Market, by Product Type (Single Roller Pump and Double Roller Pump), by End User (Hospitals and Ambulatory Surgical Centers) was valued at US$ 111.33 million in 2017, and is projected to exhibit a CAGR of 1.2% over the forecast period (2018 - 2026) as highlighted in a new report published by Coherent Market Insights.
The cardiopulmonary bypass equipment helps sustain a patient undergoing open-heart surgery procedures, providing blood oxygenation and circulation to the brain and major organs while the patient's heart and lungs are temporarily bypassed.
Increasing incidence of cardiovascular and respiratory disorders are the major factor driving growth of the cardiopulmonary bypass equipment market. For instance, According to World Health Organization (WHO), around 17.7 million people died from cardiovascular disease in 2015, representing 31% of total global deaths.
Moreover, according to European Respiratory Society, Chronic Obstructive Pulmonary Disease (COPD) affects more than 200 million people and is the fourth leading cause of death in the world. Furthermore, according to European Heart Network, cardiovascular disease causes 3.9 million deaths every year in Europe and over 1.8 million in European Union, accounting of 45% and 37% of all deaths. Thus expected to propel the growth of the cardiopulmonary bypass equipment market
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The industry players are adopting the strategy of collaboration focusing on development of new products. For instance, in 2018, Medtronic Plc. collaborated with the Sayler Biomedical LLC, for the development of their product Century heart Lung machine. The collaboration has made the Medtronic’s product available for customers globally. Century heart lung machine has features, such as compact and sturdy design, easy to use components and affordable price. This is expected to strengthen customer base and widen the product portfolio of Medtronic.
Furthermore, in 2015, Sorin Group launched its latest generation of heating and cooling systems, FlexTherm at European Congress on Extracorporeal Circulation Technology (FECECT) 2015.
FlexTherm is an automatically integrated perfusion management system equipped with three water tanks, each with a different temperature setting, allocated to three independent water circuits thus, operator’s time, reduces hospital costs and resource utilization additionally, it minimizes the risk of errors and provides reminders on how to conduct disinfection for the safety of the patients
Key Takeaways of the Cardiopulmonary Bypass Equipment Market:
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