Boston Scientific Corporation, Medtronic and Abbott are Dominating in the Global Cardiopulmonary Bypass Accessory Equipment Market in 2021

Global Cardiopulmonary Bypass Accessory Equipment Market is expected to grow with the CAGR of 5.8% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below:

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Global cardiopulmonary bypass accessory equipment market is a highly consolidated market. The market has witnessed increased strategic developments owing to favourable market scenario.    

The major players dealing in global cardiopulmonary bypass accessory equipment market are introducing strong range of products along with launching new products and adopting strategic initiative such as acquisition and agreement into the market. This has helped the companies to maximize the sales with enhanced product portfolio. For instance, in October 2020, Medtronic announced its partnership with The Foundry to develop innovative mitral valve repair technology. This will help the company to get benefit from The Foundry’s track of innovation in the field of transcatheter mitral valve repair and replacement.

Boston Scientific Corporation is the dominating player in global cardiopulmonary bypass accessory equipment market. The other key players existing in the cardiopulmonary bypass accessory equipment market includes Medtronic, LivaNova PLC, Braile Biomedica, MERA, Technowood International Pte. Ltd., Narang Medical Limited, EUROSETS, Teleflex Incorporated, Getinge AB, Terumo Corporation, Surge Cardiovascular, Abbott, Edwards Lifesciences Corporation, SCHNELL MEDICAL CORP., NIPRO, XENIOS AG (a subsidiary of Fresenius Medical Care AG & Co. KGaA), Advin Health Care, APC Cardiovascular Ltd, MicroPort Scientific Corporation, Alung Technologies, Inc., Berlin Heart, Jarvik Heart, Inc., ABIOMED among others.

Cardiopulmonary Bypass Accessory Equipment Market Boston Scientific Corporation

Boston Scientific Corporation is headquartered in Massachusetts, U.S. and was founded in 1979. The company is engaged in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. The company deals in several business segments such as medical surgical (MedSurg), rhythm and neuro and cardiovascular in which the medical surgical (MedSurg) is the market focused segment. The company also provides various products under categories such as electrophysiology, female pelvic medicine, gastroenterology, gastrointestinal surgery, interventional cardiology, interventional radiology, neurology surgery, orthopedic surgery, pain medicine, pulmonology, urology and vascular surgery among which pulmonology is the market focused category. The company is engaged in developing cardiopulmonary bypass accessory equipment and has taken initiatives to expand its product portfolio.

For instance,

  • In January 2021, Boston Scientific Corporation announced that it has entered into an agreement to acquire Preventice Solutions, Inc. The acquisition will help the company to expand its cardiac portfolio.

The company has wide presence in Americas, Europe, Middle East and Africa and Asia-Pacific. The company also has several subsidiaries such as Guidant (U.S.), Vertiflex (U.S.), American Medical Systems, Inc. (U.S.), Augmenix Inc. (U.S.), Symetis SA (Switzerland) among others.

Medtronic

Medtronic is headquartered in Minnesota, U.S. and was founded in 1949. The company is engaged in the development, manufacture, distribution and sale of medical devices and services. The company deals in several business segments such as cardiac and vascular group, minimally invasive therapies group, restorative therapies group and diabetes group in which the cardiac and vascular group is the market focused segment. The company also provides various products under categories such as advanced surgical technologies, cardiac rhythm, cardiovascular, diabetes, digestive & gastrointestinal, ear, nose & throat, general surgery, gynaecology, neurology, oral & maxillofacial, patient monitoring, renal care, respiratory, spinal & orthopaedic, surgical navigation & imaging, urological, product manual, product performance and advisories among which cardiovascular is the market focused category. The company has initiated many strategic initiatives to expand its market.

For instance,

  • In May 2020, Medtronic announced that it has received FDA approval for cardiopulmonary technologies to be temporarily used in the U.S. for ECMO therapy greater than six hours only for public health emergencies such as COVID-19. The FDA allows limited modifications to cardiopulmonary devise without prior submission of premarket notification. This will help the company to meet the demand in the market.

The company has wide presence across Americas, Europe, Middle East and Africa and Asia-Pacific. The company also has various subsidiary companies such as Medtronic of Canada Ltd. (Canada), Mazor Robotics (Israel), HeartWare International Inc. (U.S.), Titan Spine, Inc. (U.S.), Given Imaging (Israel) among others.

Abbott

Abbott is headquartered in Illinois, U.S. and was founded in 1888. The company focuses on manufacturing of devices in order to manage chronic pain and diabetes among others. The company deals in several business segments such as established pharmaceutical products, nutritionals, diagnostics, medical devices and other in which the medical devices is the market focused segment. The company also provides various products under categories such as cardiovascular, diabetes care, diagnostics, neuromodulation, nutrition and medicines among which cardiovascular is the market focused category. The company is engaged in developing cardiopulmonary bypass accessory equipment and has taken initiatives to expand its product portfolio.

For instance,

  • In April 2021, Abbott announced that it has received CE mark for TriClip Trans catheter tricuspid valve repair system in Europe to treat tricuspid regurgitation. This will help the company in diversifying its business.

The company has wide presence across Americas, Europe, Asia-Pacific, Oceania and Middle East and Africa. The company has various subsidiary companies such as Abbott Cardiovascular Systems Inc. (U.S.), Abbott Nutrition Manufacturing Inc. (U.S.), Abbott Laboratories Pacific Ltd. (U.S.), Abbott Resources Inc. (U.S.) and PDD II, LLC (U.S.) among others.