Latest: Heart Lung Machine Market Size is Expected to Reach US$ 0.7 Billion by 2031, Rising at a Market Growth of 6.9% CAGR During the Forecast Period

WILMINGTON, DE / ACCESSWIRE / June 26, 2023 / The Global Heart Lung Machine Market was valued at US$ 0.3 Bn in 2020 and is projected to expand at a CAGR of 6.9% from 2021 to 2031.

Continuous advancements in cardiopulmonary bypass devices used in cardiothoracic surgery are likely to broaden the market outlook. Medical technology companies in the heart lung machine industry are offering state-of-the-art devices to meet demand for cardiac procedures required to treat complex congenital heart defects.

The systems product type segment accounted for the leading market share in 2020. The segment is anticipated to remain dominant in the next few years. Rise in number of lifesaving heart transplants performed at hospitals is bolstering the utilization of heart lung machines around the globe. As per a statistic revealed by the United Network for Organ Sharing, 3,817 heart transplants were performed across the U.S. in 2021

Request for a Sample PDF Report with Latest Industry Insights:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=84236

Key Findings of Study

• Continuous Technological Advancements in Diagnostics for Heart Diseases and Transplant Procedures: Significant advancements in perfusion technology used in open heart surgery is a key market trend expected to bolster the market growth. Substantial adoption of advanced diagnostic technologies for cardiovascular diseases is likely to drive the market size in the near future. Rise in usage of advanced temperature management strategies used in open heart surgeries, that is hypothermia used in cardiopulmonary bypass, is likely to create significant growth opportunities for companies in the market.
• Rapid Increase in Demand for Open Heart Surgeries: Focus of healthcare providers in addressing the risks of open-heart surgery is likely to strengthen the demand for heart lung machines. Steady improvements in cardiopulmonary bypass machines are anticipated to create new business opportunities for companies in the global heart lung machine market, for instance, recent innovations in cardiopulmonary bypass techniques used for neonatal and infant cardiac surgery. Increase in usage of advanced myocardial protection circuit in aortic valve replacement and mitral valve repair, and development of a new generation of priming solutions for cardiopulmonary bypass circuits are other examples.

Key Growth Drivers of Heart Lung Machine Market

• Significant increase in incidence of respiratory failure and its high prevalence in the elderly population in several countries are expected to drive the global heart lung machine market. The annual incidence of respiratory failure with mechanical ventilation, which is caused by acute respiratory distress syndrome (ARDS), has increased significantly in several countries over the past few years.
• Surge in the number of coronary artery bypass grafting (CABG) procedures being performed in cardiac surgeries is anticipated to drive the global heart lung machine market. Rapid technological advances in open heart surgery, especially developments in robotic cardiac surgery and innovations in cardiopulmonary bypass machines, are likely to augment market growth over the next few years.

Buy this Premium Research Report (208 Pages PDF with Insights, Charts, Tables, and Figures): https://www.transparencymarketresearch.com/checkout.php?rep_id=84236<>

Regional Landscape

• North America accounted for a major share of the global heart lung machine market in 2020. The region is anticipated to retain its dominance in the next few years. Considerable demand for heart lung machines in coronary artery bypass and valve repair or replacement procedures is anticipated to create significant revenue opportunities for companies in North America. Rapid adoption of advanced open heart surgery techniques is anticipated to augment market value in the region in the next few years.
• Significant demand for heart lung machines in lung surgeries in the region can be ascribed to high prevalence of respiratory failure in the U.S. Increase in incidence of acute respiratory distress syndrome (ARDS) is expected to fuel market development in North America.

Competition Landscape

Key players operating in the global heart lung machine market are

• LivaNova Inc.
• Getinge AB
• Terumo Corporation
• Medtronic
• Braile Biomedica
• Elite LifeCare
• Hemovent
• Nipro Corp
• Fresenius SE & Co. KGaA
• Technowood International Pte. Ltd.
• SONOTEC GmbH
• Senko Medical Instrument Mfg. Co., Ltd.

Get Customization on this Report for Specific Research Solutions:
https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=84236

Segmentation

The global heart-lung machine market is segmented based on

Product Type

• Systems
• Roller Pumps
• Centrifugal Pumps
• Components
• Pumps
• Oxygenators
• Heat Exchange Units
• Others

Application

• Open Heart Surgery
• Heart Transplant
• Lung Transplant
• Others

End-user

• Hospitals
• Ambulatory Surgery Centers
• Others

Region

• North America
• Asia Pacific
• Latin America
• Europe
• Middle East & Africa

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com

SOURCE: Transparency Market Research Inc.

ACCESSWIRE

News network reaching more than 1,500 media outlets in 98 countries. The newest, fastest-growing and most disruptive newswire available today.