by Cardiopulmonary bypass equipment, also known as heart-lung machines, are devices used to oxygenate and circulate blood throughout the body during certain types of open-heart surgery. These machines temporarily take over the functions of the heart and lungs, allowing surgeons to operate on a still heart. They are indispensable for complex cardiac surgical procedures like coronary artery bypass graft surgery and heart valve replacements. The global cardiopulmonary bypass equipment market is driven by the increasing prevalence of cardiovascular diseases worldwide along with the rising number of cardiac surgeries. The increasing adoption of minimally invasive cardiac surgeries is also fueling demand for advanced cardiopulmonary bypass equipment.
The global Cardiopulmonary Bypass Equipment Market is estimated to be valued at US$ 138.26 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing number of cardiac surgeries across the globe is a major trend driving the cardiopulmonary bypass equipment market. According to estimates by The Society of Thoracic Surgeons, more than 200,000 coronary artery bypass grafting surgeries are performed annually in the United States. The increasing prevalence of coronary artery disease, valvular heart disease, and congenital heart defects is resulting in rising cardiac surgical volumes worldwide. Advanced cardiopulmonary bypass equipment with improved features assist surgeons in performing complex cardiac surgeries effectively and minimizing procedural risks and complications. This is expected to bolster the demand for cardiopulmonary bypass equipment over the forecast period.
SWOT Analysis
Strength: Cardiopulmonary bypass equipment has advanced features to precisely monitor blood pressure, oxygen levels, blood flow etc. during surgery which enhances patient safety.
Weakness: High costs associated with cardiopulmonary bypass equipment and procedures limit their access in cost-sensitive markets.
Opportunity: Growing incidence of cardiovascular diseases and increasing number of complex cardiac surgeries across the world present an opportunity for market growth.
Threats: Alternatives like minimally invasive surgeries pose competition to conventional cardiopulmonary bypass surgeries.
Key Takeaways
The Global Cardiopulmonary Bypass Equipment Market Demand is expected to witness high. The global Cardiopulmonary Bypass Equipment Market is estimated to be valued at US$ 138.26 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.
Regional analysis comprises North America currently dominates the market and is expected to continue dominating the market during the forecast period. Growing prevalence of cardiovascular diseases and rising number of complex cardiac surgeries in the region support market growth.
Key players operating in the cardiopulmonary bypass equipment market are Dow, Henkel, BASF, Nordson, LORD Corporation and H.B. Fuller. These players are focusing on new product launches and mergers & acquisitions to strengthen their market position. For instance, in 2019, Dow acquired LORD Corporation to enhance its portfolio of adhesives technologies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
