World Oxygenators Market Growth, Trends, and Forecast Report 2020-2025 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 21, 2020--
The “Oxygenators Market - Growth, Trends, and Forecast (2020 - 2025)” report has been added to ResearchAndMarkets.com’s offering.
The oxygenators market studied was anticipated to grow with a CAGR of nearly 7.8% during the forecast period.
The major factors driving the growth of the market are the global prevalence of various coronary heart diseases and strokes due to changing lifestyles leading to a rise in surgical interventions, favorable reimbursement initiatives, and rapid growth of the geriatric population.
For instance, according to the Global Health And Wellness Report published in 2018, nearly 40% of the adult population in the United States were diagnosed with a cardiovascular condition, which directly resulted in higher demand for coronary artery bypass procedures leading to rising focus on oxygenators for efficient treatments fueling the growth of the market throughout the forecast period.
Key Market Trends
The Membrane Oxygenators Segment is Expected to Hold the Largest Market Share in the Oxygenators Market
The membrane oxygenators segment is expected to witness the largest market share in the oxygenators market during the forecast period due to their rising adoption in the CABG procedures, extracorporeal circulation for cardiopulmonary support in various surgical procedures along with heart-lung machines due to advantages such as reduction of the damage of tissues and thrombosis compared to bubble oxygenators. Also, their rapid deployability, effective gas exchange in a relatively small membrane surface area, enhanced blood flows, less hemolysis, and less post-operative bleeding further boost the growth of the segment.
Based on the application, the respiratory segment is expected to hold a major market share during the forecast period. This can be attributed to the rise in the prevalence of chronic obstructive pulmonary disease (COPD) and the increase in cardiopulmonary diseases.
North America Dominates the Market and it is Expected to do the Same in the Forecast Period
North America is expected to dominate the overall oxygenators market throughout the forecast period. The major factors attributing to the growth are rise in the global prevalence of multiple cardiovascular indications like CAD, ischemic strokes and atrial fibrillation along with acute respiratory disorders such as acute respiratory distress syndrome (ARDS) due to rise in chronic diseases such as diabetes & obesity necessitating the cardiopulmonary bypass procedures and thus, rise in demand for oxygenators.
For instance, according to Journal of American Medical Association report - 2018, about 93.3 million adults over the age of 20 in the United States were obese which is the major cause for coronary heart disease which directly drives the growth of the market in the region contributing to the outstanding share of revenue propelling the global oxygenators market. Furthermore, favorable reimbursement policies, approvals by the Food and Drug Administration (FDA), and availability of healthcare infrastructure in the region are expected to fuel the market during the forecast period.
The oxygenators market is moderately competitive and consists of several major players. Few of the key players are launching new products with advanced technologies to compete with the existing products while others are acquiring and partnering with the other companies trending in the market. For instance, in January 2019, Terumo launched its smallest, lowest prime volume, adult oxygenator, the Capiox NX19 Oxygenator.
The new oxygenator uses innovative UltraPrime technology that improves patient care during cardiopulmonary bypass procedures, which contributed to the company’s growth in the cardiovascular surgery technologies market, which is expected to impel the global oxygenator market growth throughout the forecast period.
Some of the companies which are currently dominating the market are Medtronic PLC, Terumo Medical Corporation, Getinge AB, EUROSETS SRL, and Livanova PLC.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Global Prevalence of Cardiopulmonary Disorders, such as Strokes and Hypertrophic Cardiomyopathy Leading to Death
4.2.2 Increasing Geriatric Population and Rise in Global Healthcare Expenditure along with Growth in Disposable Income
4.2.3 Availability of Technologically Advanced Products and Reimbursement Policies
4.3 Market Restraints
4.3.1 Adoption of Minimally Invasive Procedures, like Percutaneous Coronary Interventions and Risks Associated with Oxygenation Systems
4.3.2 Stringent FDA Regulations for Class II Category Devices which should Comply to the Performance Standards
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Bubble Oxygenator
5.1.2 Membrane Oxygenator
5.2.3 Extracorporeal Cardiopulmonary Resuscitation (ECPR)
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Chalice Medical Ltd
6.1.2 EUROSETS SRL
6.1.3 Getinge AB
6.1.4 Livanova PLC
6.1.5 Medtronic PLC
6.1.6 Microport Scientific Corporation
6.1.7 Nipro Medical Corporation
6.1.8 Terumo Medical Corporation
6.1.9 Braile Biomedica
6.1.10 Xenios AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/5wlj60
View source version on businesswire.com:https://www.businesswire.com/news/home/20201221005336/en/
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INDUSTRY KEYWORD: MEDICAL DEVICES HEALTH
SOURCE: Research and Markets
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PUB: 12/21/2020 05:54 AM/DISC: 12/21/2020 05:54 AM