Heart-lung machines market size to grow by USD 195.04 million

The heart-lung machines market size is set to grow by USD 195.04 million between 2022 and 2027 and register a CAGR of 3.89%, according to Technavio’s latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment.

The increased medical tourism in Asia, the increase in the number of ASCs, and awareness initiatives by organizations will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Heart-lung machines market 2023-2027: Segmentation

• End-user
  • Hospitals
  • ASCs
• Application
  • Heart Surgery
  • Heart Failure
  • Lung Surgery
• Geography
  • North America
  • Europe
  • Asia<
  • Rest Of World (ROW)

By end-users, the market growth in the hospitals segment will be significant over the forecast period. Hospitals engage closely with many suppliers and procure medical products and consumables in bulk at low prices. Factors such as increasing patient pool, rising healthcare expenditure, the use of advanced and sophisticated equipment, and the availability of skilled healthcare professionals are some of the major factors driving the growth of the segment. The increasing number of hospitals is another major factor driving the growth of the segment.

North America will account for 36% of the market growth during the forecast period. The growth of the regional market can be attributed to factors such as the rising incidences and prevalence of CVDs, the rise in the number of surgical procedures for CVDs, and increasing healthcare expenditure. In addition, technological advances, the expansion of the geriatric population, and the strong presence of prominent vendors drive the growth of the heart-lung machines market in North America.

Heart-lung machines market 2023-2027: Vendor analysis and scope
The global heart-lung machines market is fragmented, with the presence of several players. Prominent vendors hold the major market revenue. These vendors are focused on R&D activities to develop advanced, innovative products, and strengthen their product portfolios. Global vendors have already established a strong foothold in diversified geographies across the world with their comprehensive range of products. Key vendors are trying to establish a strong customer base by selling and distributing their products around the world through several online and direct retail channels to remain competitive and gain significant market revenue. They compete in the market in terms of brand, quality, and unique features. Some of the key vendors covered in the report include:

• Braile Biomedica – The company offers heart-lung machines such as Centripump Centrifugal Pump Module and Sapphire Centriflux Centrifugal Pump.
• Edwards Lifesciences Corp. – The company offers heart-lung machines such as 120404FFP, 120807FP, and 120403FP.
• ELITE LIFECARE – The company offers heart-lung machines such as Cardioplegia Delivery System and Membrane Oxygenator.
• Eurosets Srl – The company offers heart-lung machines such as KOMPASS, SVR2000, and HORIZON.
• Fresenius Medical Care AG and Co. KGaA
• Getinge AB
• Heart Care India Co.
• Hemovent GmbH
• Jarvik Heart Inc.
• Koninklijke Philips NV
• LivaNova Plc
• Medtronic Plc
• Nipro Corp.
• Palex Medical SA
• RAUMEDIC AG

Heart-lung machines market 2023-2027: Market dynamics

• Driver – The market is driven by increased medical tourism in Asia. The increase in healthcare expenditure, rising number of hospitals, availability of skilled medical professionals, and low cost of healthcare services are attracting a significant number of people from overseas to travel to Asian countries. Treatment procedures in these countries cost less than in developed countries such as the UK, the US, and Canada. For instance, the cost of CABG surgery ranges between USD 50,000 and USD 75,000 in the US, whereas the same surgery, including direct and indirect medical expenses, can cost around USD 10,000 in India. Such factors have led many people to travel to Asian countries for treating medical conditions, which is expected to drive the market growth over the forecast period.
• Trend – The advent of portable heart-lung machines is identified as the key trend in the market. Unlike conventional heart-lung machines, portable heart-lung machines are compact and occupy less space. Portable heart-lung machines can operate on a rechargeable battery and can be transported to any part of the hospital. They help healthcare professionals to provide extracorporeal circulation to patients who are in a critical stage during an emergency, either in an ambulatory setting or in operating rooms. The growing popularity of portable heart-lung machines has encouraged vendors to focus on innovation to integrate advanced features. This trend will positively influence the growth of the market during the forecast period.
• Challenge – Complications associated with CABG surgeries will challenge the market growth. In coronary artery bypass graft (CABG) surgery, the heart-lung machine is used for blood transportation as the physician stops the heart. When the blood passes through PVC tubes, it gets in contact with artificial compounds. This could result in post-surgical complications such as infection, arrhythmia, kidney stress, and the release of cytokines, causing irritation and inflammation. In some cases, patients who undergo heart bypass surgery might experience long-term memory loss and cognitive problems, which are considered the after-effects of using heart-lung machines. Such complications will hinder the adoption of heart-lung machines, thereby negatively affecting market growth.

Technavio