Oxygenators Market Overview
The oxygenators market is poised to grow at a CAGR of 5.4% during the forecast period (2021-2026) and is likely to reach USD 297 million by 2026. 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. As per the 2020 statistics provided by the World Health Organization (WHO), ischemic heart disease is responsible for 16% of the world’s total deaths. The rising prevalence of cardiovascular diseases is driving cardiopulmonary surgeries and coronary artery bypass grafting (CABG), which may increase the demand for oxygenators.
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Oxygenators Market – Geographical Overview
North America is expected to dominate the oxygenators market over the forecast period
The United States has been the most affected country across the world, as the non-emergent surgical procedures were put on hold, due to which the demand for these devices will decrease. However, the surgical procedures are resuming now with proper regulating guidelines, which will further increase the demand for these oxygenators, and the market growth will gradually rise. 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 a rise in chronic diseases, such as diabetes and obesity, necessitating the cardiopulmonary bypass procedures and thus, rise in demand for oxygenators.
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Key Highlights of the Oxygenators Market
- 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 other companies trending in the market. Some of the companies currently dominating the market are Medtronic PLC, Terumo Medical Corporation, Getinge AB, EUROSETS SRL, and Livanova PLC.
- The membrane oxygenators segment is expected to witness the largest market share during the forecast period due to their rising adoption in CABG procedures and 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.
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List of Key Players in the Oxygenators Market
- Chalice Medical Ltd
- EUROSETS SRL
- Getinge AB
- Livanova PLC
- Medtronic PLC
- Microport Scientific Corporation
- Nipro Medical Corporation
- Terumo Medical Corporation
- Braile Biomedica
- Xenios AG
- MC3 Cardiopulmonary
- Gen World Medical Devices
- Senko Medical Instrument Mfg Co. Ltd (MERA)
- Owgels Group
*List Not Exhaustive
Mordor Intelligence has segmented the global oxygenators market on the basis of product, application, and geography:
- Product (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Bubble Oxygenator
- Membrane Oxygenator
- Application (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Respiratory
- Cardiac
- Extracorporeal Cardiopulmonary Resuscitation (ECPR)
- Geography (Market Size & Forecast based on Revenue (USD million), 2018-2026)
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Middle-East and Africa
- GCC
- South Africa
- Rest of Middle-East and Africa
- South America
- Brazil
- Argentina
- Rest of South America
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