Adult And Pediatric Hemoconcentrators Market size is predicted to display robust growth during the forecast timeframe of 2023-2032. Perfusionists and surgeons are opting for hemoconcentrators to conduct cardiopulmonary surgeries to maintain higher hematocrit levels and reduce the need for additional blood products. The global burden of heart diseases is rising at a significant rate every year. According to the WHO, cardiovascular diseases (CVDs) are the leading cause of death across the world, claiming nearly 17.9 million lives every year. This factor will fuel the usage of hemoconcentrators during bypass surgeries.
Hemoconcentrators are used by surgeons to remove fluids while carrying out cardio bypass surgery and lower the risk of edema, organ dysfunction, and protein concentration. Many companies are launching innovative versions of these devices to enhance the quality of patient care, thereby improving their demand among end-users in the healthcare sector.
The incidence of cardiovascular diseases is high in low-income countries due to lack of access to vital cardiac care solutions. This has prompted governments to intensify their focus on formulating initiatives and programs that offer cost-effective and high-quality cardiac care to patients from low-income groups. For example, in February 2021, the Government of Maharashtra, India launched the ST-Elevation Myocardial Infarction (STEMI) Maharashtra program that uses Artificial Intelligence (AI) to allow rapid diagnosis of various heart ailments and reduce the mortality rate associated with them.
This will accelerate the deployment of hemoconcentrators to increase the survival rate of patients undergoing heart surgery. The percentage of children being diagnosed with congenital heart ailments is on the rise, and the pool of elderly population is expanding as well, further boosting adult and pediatric hemoconcentrators market progress.
However, growing tensions between Russia and Ukraine have adversely affected market trends as heart surgeries were put on hold during this period. Since most of the healthcare resources were dedicated to treating injured civilians and military personnel, it restricted patients’ access to basic medical facilities. This factor had a negative impact on the demand for adult and pediatric hemoconcentrators.
Based on type, the adult hemoconcentrator segment is expected to capture a considerable share of adult and pediatric hemoconcentrators industry by 2032. One of the major factors bolstering the product adoption is the rising cases of obesity among older adults living in rural areas, as obesity can heighten the risk of heart failure. According to the annual report by the Trust for America’s Health (TFAH), in 2022, 19 states in the U.S. saw their obesity rates surpass 35%. This aspect will spur the usage of adult hemoconcentrators to carry out cardiac surgery in obese patients, further bolstering the market expansion.
With regards to end-use, global adult and pediatric hemoconcentrators market is segmented into hospitals, ambulatory surgical centers, and others. The industry size from the ambulatory surgical center (ASC) segment is set to exhibit a strong CAGR over the analysis timeframe. These centers offer a wide range of benefits to patients undergoing heart surgery, such as superior surgical treatment and reduced surgical site infections. The network of ASCs is also growing to accommodate the rising patient footfall to treat cardiovascular ailments. For instance, in April 2021, the first super-hybrid ambulatory surgical center was opened in Southern California to offer comprehensive outpatient vascular surgical services. These developments will positively impact the industry outlook.
Asia Pacific adult and pediatric hemoconcentrators market revenue is likely to witness a notable hike by 2032. This can be attributed to factors, such as surging healthcare expenditure, increasing per capita income, and high incidence of CVDs in the region. As per the Global Burden of Disease’s data, in 2021, CVDs accounted for nearly 24.8% of all deaths in India. These factors, as well as notable improvements in coronary artery bypass grafting procedures, will boost the deployment of hemoconcentrator devices over the coming years.
Prominent companies operating in adult and pediatric hemoconcentrators market include Terumo Cardiovascular Systems, Medtronic, Andocor, MAQUET (Getinge), Nipro, Sorin, and Medivators (Cantel Medical Corporation), among others. These firms are focusing on different strategies, such as mergers, new product launches, partnerships, and acquisitions to expand their business operations.