Global Heart Lung Machine Market is anticipated to witness exponential growth in the forecast period. Heart lung machine is also known as “Cardiopulmonary Bypass Machine” or “Pump-Oxygenator” or “Perfusion Pump”. A mechanical device temporarily takes over the functions of the heart and lungs. It is used as an aid in some surgery, particularly for cardiovascular surgery. It plays significant role during artificial heart, organ transplant, and in open-heart surgery.
The factors that propel the growth of the market include rising number of heart issues and the other cardiovascular diseases, government initiatives in improving the healthcare services, technological development, occupying less space in the operating room as compared to the conventional machine and growing consciousness.
On the other hand, there are factors that may hamper the growth of the market including small lifecycle of the product and lack of skilled medical expert. Globally, market is anticipated to grow at a CAGR of 6.13% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
A new trend that is helping to boost the growth of market is development of modular heart-lung machines. Hospitals and ASCs (Ambulatory Surgical Centers) choose modular heart-lung machines, as they are cost-effective, user-friendly, and safe, and involve properties such as rechargeable batteries, thereby offering flexibility to doctors. Manufacturers such as Terumo Medical, LivaNova, and MAQUET have developed next-generation modular heart-machines, that could be monitored and controlled through a single control panel.
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The market may be explored by type, application, end user, and geography. The market could be explored based on type as Double Roller Pump Heart Lung Machine and Single Roller Pump Heart Lung Machine. The key applications that could be explored in the market include Acute Respiratory Failure Treatment, Cardiac Surgery, Lung Transplant Operation, and Others.
Based on end users, the market could be span Ambulatory service center (ASCs) and Hospitals. The “Ambulatory Surgical Centers (ASCs)” segment led the heart lung machine market in 2016 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of market include cost efficient and requires less duration for treatment.
North America accounted for the major share of the market in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include the high occurrence of heart problems and aged population in the region, surge in the number of ASCs in the US, and technological development in the field. North America is followed by Asia-Pacific and European region.
Some of the key players that fuel the growth of the heart lung machine market comprise Sorin Group, MAQUET, Medtronic, LivaNova, Edwards Lifesciences, Terumo Corporation, Braile Biomedica, SynCardia, Tianjin Medical, and Jarvik Heart. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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