The Global Cardiopulmonary Bypass Equipment Market Is Estimated To Propelled By Increasing Minimally Invasive Cardiac Procedures
Cardiopulmonary bypass equipment is used during various cardiac procedures to temporarily take over the function of the heart and lungs and pump oxygenated blood throughout the body during surgery. This equipment consists of oxygenators, heart-lung machines, vascular introducers, cannulae, and catheters. The growing incidence of cardiac diseases and rising preference for minimally invasive cardiac procedures are driving the demand for advanced cardiopulmonary bypass equipment.
The global Cardiopulmonary Bypass Equipment Market is estimated to be valued at US$ 120.01 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing number of minimally invasive cardiac procedures is one of the major trends driving the growth of the cardiopulmonary bypass equipment market. Minimally invasive procedures require smaller incisions and cause less pain and trauma to the patient compared to open-heart surgeries. They allow for shorter hospital stays and quicker recovery times. With technological advancements, cardiopulmonary bypass equipment manufacturers are developing miniaturized and sophisticated devices that can be used in minimally invasive cardiac procedures. This is increasing the adoption of minimally invasive techniques among patients and healthcare providers, thereby fueling the demand for cardiopulmonary bypass equipment over the forecast period.
SWOT Analysis
Strength: Cardiopulmonary bypass equipment have high efficiency and easy to use in various cardiac surgeries. They help surgeon to divert blood from heart and lungs during surgery.
Weakness: High installation and maintenance cost of cardiopulmonary bypass equipment limits its adoption in smaller hospitals and clinics. Training is required for efficient use of these complex machines.
Opportunity: Rising prevalence of cardiovascular diseases and growing geriatric population prone to heart conditions creates demand for cardiac surgery and associated equipment. Development of portable cardiopulmonary bypass machines expands scope in emergency cases.
Threats: Stringent regulatory approvals and quality standards delays product launch. Newer minimal invasive surgeries act as alternate to conventional techniques relying on cardiopulmonary bypass equipment.
Key Takeaways
The global cardiopulmonary bypass equipment market share is expected to witness high growth over the forecast period of 2023 to 2030. The global Cardiopulmonary Bypass Equipment Market is estimated to be valued at US$ 120.01 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030.
Regional analysis: North America currently dominates global cardiopulmonary bypass equipment market and is expected to continue its dominance till 2030. Growing incidence of cardiovascular diseases and availability of advanced healthcare infrastructure drives the market in the region. Asia Pacific is fastest growing market owing to rising medical tourism, large patient pool and improving access to healthcare in emerging economies.
Key players operating in the cardiopulmonary bypass equipment market are Carl Zeiss AG, EssilorLuxottica SA, Giorgio Armani S.p.A., Guccio Gucci S.p.A, Loch Effects, LVMH Moët Hennessy Louis Vuitton, Marcolin S.p.A., Prada S.p.A, Randolph Engineering, Inc, and Safilo Group SpA. These companies are focusing on new product launches and geographical expansion to remain competitive and tap emerging opportunities in high growth markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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