IMARC Group has recently released a new research study “Oxygenators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global oxygenators market size reached US$ 244.2 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 348.4 Million by 2028, exhibiting a growth rate (CAGR) of 5.9%during 2023-2028.
In order to exchange oxygen and carbon dioxide from the patient’s blood during operations, oxygenators are examples of medical equipment that is frequently utilised in medical settings. Both membrane oxygenators and bubble oxygenators can be used to classify them. These oxygenators are used along with heart-lung machines to help with gas exchange during operations where the blood flow is stopped or interrupted. Even respiratory, pulmonary, and cardiopulmonary diseases can be managed with their help. Because of this, oxygenators are widely used in hospitals, clinics, and other healthcare facilities all over the world.
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The market for oxygenators is primarily being driven by the rising prevalence of several coronary, cardiovascular, and orthopaedic disorders among the general population as a result of sedentary lifestyles, bad eating habits, cigarette and alcohol use, etc. In keeping with this, the market is also growing as a result of the growing elderly population, which is extremely susceptible to developing chronic diseases. Aside from this, other important growth-promoting elements include the rising investments made by governments worldwide to support healthcare digitalization, ongoing product innovation, and sophisticated infrastructure setup.
Moreover, the elevating mergers and acquisitions (M&As) activities among key market players to innovate state-of-the-art medical devices and the introduction of several favorable healthcare reimbursement initiatives are further stimulating the global market.In addition to this, the rising usage of the equipment in numerous critical surgeries, such as cardiopulmonary bypass grafts (CABG) and coronary artery bypass grafts (CABG) and the shifting preferences toward membrane oxygenator variants for the treatment of neonates and pediatric patients are expected to propel the oxygenators market over the forecasted period.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Braile Biomédica, Chalice Medical Ltd, Eurosets S.r.l., Getinge AB, Livanova Plc, Medtronic plc, MicroPort, Nipro Corporation, Senko Medical Instrument Mfg. Co. Ltd., Terumo Medical Corporation (Terumo Corporation) and Xenios AG (Fresenius Medical Care AG & Co. KGaA).
The report has been segmented the market into following categories:
Breakup by Type:
- Membrane Oxygenator
- Bubble Oxygenator
Breakup by Age Group:
Breakup by Application:
- Extracorporeal Cardiopulmonary
- Resuscitation (ECPR)
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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