Oxygenators Market to Grow at an Impressive CAGR During the Forecast Period
Surge in demand for minimally invasive procedure to drive the
growth of Global Oxygenators Market in the forecast period, 2022-2026.
According
to TechSci Research report, “Global Oxygenators Market By Product Type (Bubble
Oxygenator v/s Membrane Oxygenator), By Type (Adult Oxygenators v/s Pediatric
Oxygenators), By Application (Respiratory, Cardiac, COVID-19, Others), By End
User (Hospitals & Clinics, Ambulatory Care Centers, Others), By Region,
Competition Forecast & Opportunities, 2026”,
the global oxygenators market is expected to show an impressive growth in the
upcoming five years. The market growth can be attributed to the global
prevalence of various coronary heart diseases and strokes due to changing
lifestyles, leading to a rise in surgical interventions, favorable
reimbursement initiatives, and rapid growth of the geriatric population. Moreover,
there is a rising burden of cardiovascular diseases across the world, which is the
leading cause of death. As per the 2020 statistics provided by the World Health
Organization (WHO), ischemic heart disease is responsible for 16% of the
world’s total deaths. As per the same source, an estimate of 8.9 million deaths
were reported for ischemic heart disease in 2019. The rising prevalence of
cardiovascular diseases is driving cardiopulmonary surgeries and coronary
artery bypass grafting (CABG), which may increase the demand for oxygenators.
Oxygenators
are medical devices that are responsible for exchanging oxygen and carbon
dioxide while the patient is undergoing a surgical procedure in case the
procedure requires termination or suspension of blood flow to a vital blood
vessel or organ in the body. Oxygenators are primarily used in cardiopulmonary
surgeries and are used in concurrence with a heart-lung machine. They are also
used by nurses in neonatal intensive care for extracorporeal membrane
oxygenation and in case of respiratory failure. The enhanced oxygenators are
designed in a manner that strives to maximize the amount of oxygen, carbon
dioxide, and other gases that can be transferred at a given blood flow rate to
make gas transport and regulation easy during a surgical procedure. Increasing
cardiovascular diseases require extensive and elaborative treatment that
requires the oxygenators during the treatment, thus the market is anticipated
to grow in the upcoming years.
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The global oxygenators market is segmented by product
type, type, application, end user, regional distribution,
and competitive landscape. Based on type, the market is further bifurcated into
adult oxygenators and pediatric oxygenators. Adult oxygenators are expected to hold
the largest market share on the account of increased number of adult and
geriatric population that is more prone to cardiovascular diseases.
Based
on application the market is further fragmented into respiratory, cardiac,
COVID-19, and others. Cases of COVID-9 are increasing worldwide. Announced as a
pandemic by World Health Organization in March 2020, the virus is still
spreading in various countries with variant strains of the virus. The treatment
for the patients requires oxygenators thus the application segment is anticipated
to hold the largest market share in the next five years. Also, cardiovascular
diseases are rapidly increasing in the world and the surge in the number of
patients is driving the growth of the market in the next five years.
Some
of the major competitors in the market are Abbott Laboratories, F. Hoffmann-La
Roche Ltd., Thermo Fisher Scientific, Inc., Siemens Healthcare GmbH, Bio-Rad
Laboratories, Inc., Koninklijke Philips N.V., Toshiba Corporation, Agilent
Technologies, Inc., Illumina, Inc., Merck KGaA, Danaher Corporation, bioMérieux
SA, Beckman Coulters Inc., Quidel Corporation, DiaSorin S.p.A., among others.
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“North America is a promising region for
the growth of the market. The region has proven its dominance in the historical
years, and with the rising prevalence of favorable reimbursement
policies and well-developed hospital infrastructure, there is expected to be a
boost in the market growth in the region. First polymethyl pentene (PMP) hollow
fiber oxygenator was approved by the US Food and Drug Administration (FDA) in
2008 to be used for extracorporeal support in the US. The market in Asia
Pacific is expected to expand at a rapid CAGR during the forecast period owing
to technological advancements, a large patient pool, and rise in adoption of
surgical intervention to manage the cardiovascular disease burden,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based Global
management consulting firm. “Global Oxygenators
Market By Product Type (Bubble Oxygenator v/s Membrane Oxygenator), By Type
(Adult Oxygenators v/s Pediatric Oxygenators), By Application (Respiratory,
Cardiac, COVID-19, Others), By End User (Hospitals & Clinics, Ambulatory
Care Centers, Others), By Region, Competition Forecast & Opportunities,
2026”, has evaluated the future
growth potential of global oxygenators market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
global oxygenators market.
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