Increasing Prevalence of Cardiovascular Diseases Drives the Demand for Cardiopulmonary Bypass Accessory Equipment Market

The growing occurrence of cardiovascular diseases is expected to accelerate the cardiopulmonary bypass accessory equipment market. Cardiovascular disease are the ones which affect the heart, including blood clots, diseased vessels and structural problems. The symptoms of cardiovascular disease can vary depending upon specific requirements, including chest pain, shortness of breath, high blood pressure, nausea and vomiting. The common types of cardiovascular disease include congestive heart failure, coronary heart disease, among others.

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For instance,

according to the Centers for Disease Control and Prevention, heart disease is the important cause of death among people in the United States.

Data Bridge Market Research analyses that the Cardiopulmonary Bypass Accessory Equipment is expected to grow at a CAGR of 5.8% in the forecast period of 2021 to 2028 and is expected to reach USD 13018.76 million by 2020 from USD 21,139.24 million by 2028.

Growing Geriatric Population is expected to drive the market

With the rising geriatric population, pulmonary diseases such as heart problems, cardiac arrest and other age-related diseases are also growing. The elderly population brings a greater chance of health issues. The speedy growth in the geriatric population is more disposed to to various types of respiratory disorders.

The older population is more prone to diseases. Therefore, there is a strong correlation between the age and the increasing cases of cardiac arrest. According to the National Center for Biotechnology Information study, the use of ventilators in ICU more often in the elderly patients (64%) than the younger patients (47%), because of growing anti-aging population is boosting the demand of the market.

Report Scope and Market Segmentation

Segment Analysis:

Global cardiopulmonary bypass accessory equipment market is categorized into six notable segments which are based on the product, operation, application, age, end user and distribution channel.

• On the basis of product, global cardiopulmonary bypass accessory equipment market is segmented into oxygenator, ECMO machine, pumps, cannula, temperature monitors, heat exchanger, filters, tubing clamps, hemoconcentrators, system panel, sensor and accessories, cardioplegia control, reservoir, bubble detector, electronic gas blender, electrical venous occluder, venous line clamp and accessories.

Oxygenator segment is expected to dominate the global cardiopulmonary bypass accessory equipment market

Oxygenator segment is expected to dominate the global cardiopulmonary bypass accessory equipment market with 16.82% market share due to the high prevalence of cardiovascular diseases and growing awareness initiatives by the government.

• On the basis of operation, global cardiopulmonary bypass accessory equipment market is segmented into manually operated, electrically operated and battery operated. Manually operated segment is expected to dominate the global cardiopulmonary bypass accessory equipment market with 72.85% market share due to rising demand in market and its efficacy in its application.
• On the basis of application, global cardiopulmonary bypass accessory equipment market is segmented into cardiac surgery, cardiac surgery oxygenators, acute respiratory failure treatment, lung cancer, transplant operation and others.

Cardiac surgery segment is expected to dominate the global cardiopulmonary bypass accessory equipment market

Cardiac surgery segment is expected to dominate the global cardiopulmonary bypass accessory equipment market with 61.73% market share due to the rising number of cardiac surgeries performed across the globe.

• On the basis of age, global cardiopulmonary bypass accessory equipment market is segmented into adult, geriatric and pediatric. Adult segment is expected to dominate the global cardiopulmonary bypass accessory equipment market with 64.24% market share because due to the rising cardiopulmonary disease prevalence.
• On the basis of end user, global cardiopulmonary bypass accessory equipment market is segmented into hospitals, cardiac centers, research and academic institutions, ambulatory surgical centers and others. Hospitals segment is expected to dominate the global cardiopulmonary bypass accessory equipment market with 61.69% market share due to the growing demand of the products in the market and strategic initiatives taken by manufacturers to expand the market.
• On the basis of distribution channel, global cardiopulmonary bypass accessory equipment market is segmented into direct tender, third party distributor and retail sales. Direct tender segment is expected to dominate the global cardiopulmonary bypass accessory equipment market with 66.76% market share because of large number of players in the market.

Major Players

Data Bridge Market Research recognizes the following companies as the major cardiopulmonary bypass accessory equipment market players in cardiopulmonary bypass accessory equipment market are Medtronic (Ireland), LivaNova PLC (U.K.), Braile Biomedica (Brazil), Technowood International Pte. Ltd. (India), Narang Medical Limited (India), EUROSETS (Germany), Teleflex Incorporated (U.S.), Getinge AB (Sweden), Terumo Corporation (Japan), Abbott (U.S.), Edwards Lifesciences Corporation (U.S.), SCHNELL MEDICAL CORP. (Switzerland), NIPRO (Japan), XENIOS AG (a subsidiary of Fresenius Medical Care AG & Co. KGaA) (Germany), Advin Health Care (India), Boston Scientific Corporation (U.S.), APC Cardiovascular Ltd (U.K.), MicroPort Scientific Corporation (China), Alung Technologies, Inc. (U.S.)

Market Development

• In 2021, ABIOMED announced that it had received FDA premarket approval for Impella RP with Smart Assist, a safe and effective treatment for acute heart failure. This will aid the company's revenue growth.
• In 2021, Braile Biomedica announced that it has launched the SOLIS system, which consists of an Extracorporeal Membrane Oxygenator, to assist patients in the treatment of COVID-19. This will assist the company in increasing its sales in the coming years.
• In 2021, Boston Scientific Corporation announced that it had entered into an agreement to acquire Preventice Solutions, Inc. The acquisition will aid the company's efforts to broaden its cardiac portfolio.

Regional Analysis

Geographically, the countries covered in the cardiopulmonary bypass accessory equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in cardiopulmonary bypass accessory equipment market the forecast period 2021 - 2028

North America is dominating because of the presence of the largest consumer market with rise of cardiovascular diseases, high GDP and increased technological advancements of cardiopulmonary bypass accessory equipment in the region. The United States is expected to dominate the North America cardiopulmonary bypass accessory equipment market due to the presence of the largest consumer market with a high GDP, the rise in cardiovascular diseases, and the presence of a large number of market players.

Europe is estimated to be the fastest-growing region in cardiopulmonary bypass accessory equipment market in the forecast period 2021 - 2028

Germany is expected to dominate in the Europe cardiopulmonary bypass accessory equipment market because of the presence of improved prevalence of various cases of cardiovascular diseases along with the rise in geriatric population in Germany and untapped opportunities.

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