Cardiopulmonary Bypass Pumps Market Size is expected to observe promising growth between 2022 to 2028 due to the growing threat of cardiovascular and respiratory diseases worldwide. The expanding elderly population base and rising adoption of unhealthy lifestyles have led to escalated health care expenditure.
Cardiopulmonary bypass pumps are largely used by perfusionists for bypassing the heart as well as lungs in open-heart surgeries. The fast-growing technical advancements and surging count of surgical procedures will stimulate the market development.
However, the higher product costs, adverse health effects of bypass procedures along with the presence of strict regulations will hamper the market evolution to some extent.
With regards to product, the market share from roller cardiopulmonary bypass pumps market will expand owing to their advantages, such as lower costs, simplicity, ease, and reliability of flow calculation, and increased resistance without reducing flow. These pumps are designed with microprocessors for allowing blood to flow based on roller-head speed as well as the tubing diameter of the circuit. Furthermore, the rising adoption in cardiopulmonary bypass procedures is another major contributor to the market progression.
On the basis of application, the cardiopulmonary bypass pumps market is bifurcated into lung transplant operation, acute respiratory failure treatment, cardiac surgery, and others. Out of these, the industry size from the lung transplantation segment will expand with growing burden of primary or secondary pulmonary hypertension. The pumps have been witnessing increasing penetration in en-bloc double-lung transplantation. The growing number of lung transplantation procedures will also result in burgeoning market growth.
Based on end-use, the demand for cardiopulmonary bypass pumps in hospitals is set to show notable proceeds up to 2028 due to the presence of advanced facilities. Modern cardiopulmonary bypass machines are increasingly used in hospitals as they are equipped with systems for continuously monitoring the line or circuit pressure, temperature, as well as blood parameters, and safety features. The growing number of cardiovascular procedures performed will also add a strong impetus to the product penetration.
In terms of regional landscape, North America is likely to emerge as a profitable ground for cardiopulmonary bypass pumps owing to the strong presence of favorable reimbursement policies. The fast-growing patient pool and higher prevalence of cardiovascular diseases have made way for the escalating health care expenditure to offer effective disease treatment and management. According to the CDC (Centers of Disease Control and Prevention), around 659,000 people in the U.S. die from heart disease per year. The rising number of research activities and technological enhancements on account of the increasing instances of venture capital investments will drive the market expansion in the region.
The cardiopulmonary bypass pumps market amalgamates the presence of major participants, such as Olympus Corporation, LivaNova, Terumo Corporation, Medtronic, Maquet (Getinge), and BraileBiomedica.
Strategic growth and marketing drives, such as partnerships, acquisitions, and investments, together with novel product developments and innovations, are largely emphasized by these firms to attain competitive advantages while reinforcing their global presence.
For instance, in August 2020, Japan-based Terumo Corporation’s subsidiary, Terumo Cardiovascular, joined forces with CytoSorbents Corporation, a leading medical device supplier, for selling CytoSorb, an extracorporeal cytokine adsorber in ten U.S. hotspot states under emergency use authorization for COVID-19.
The COVID-19 pandemic brought a massive turmoil in the global economy on account of the nationwide lockdowns and social distancing norms mainly in the first two quarters of 2020. However, the adoption of cardiopulmonary bypass pumps significantly jetted amid the crisis with the growing regulatory support for the introduction of new products. For instance, the U.S. FDA granted 510(k) clearance for Abiomed’s cardiopulmonary bypass support system that has uses in the treatment of infected individuals.
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