The global cardiopulmonary bypass equipment market size was valued at US$ 111.33 million in 2017, and is expected to witness a CAGR of 1.2% over the forecast period (2018 – 2026).
The increase in the prevalence of cardiovascular diseases like atrial fibrillation, atrial flutter and supraventricular tachycardia, decrease in heart muscle elasticity, decrease in heart output, aging population are the driving factors for the growth of cardiopulmonary bypass equipment market
For instance, According to the American Heart Association, in 2013, cardiovascular disease is the foremost global cause of deaths among the population, accounting for about 17.3 million deaths per year. According to the same report, the number of deaths is expected to rise to around 23.6 million by 2030.
Increasing adoption of unhealthy dietary habits, lack of proper exercise, increasing stress, and sedentary lifestyles are increasing occurrences of heart-related diseases, especially heart failures. This in turn is increasing demand for cardiopulmonary bypass equipment, thus expected to boost market growth over the forecast period.
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Increasing number of organ transplant surgeries is expected to drive growth of the market over the forecast period. For instance, according to Organ and Tissue Authority of Australian Government, the number of surgeries performed for organ transplant in 2017 were around1, 469. Moreover, around 1,400 Australians are waiting for organ transplant.
However, recall of the components of cardiopulmonary bypass equipment may hinder the growth of the market during the forecast period. For instance, in October 2012, US FDA terminated the Maquet HL Console for Heart Lung Machine HL20 for its device design. As Maquet HL 20 Twin Pump Modules may unintentionally increase speeds for a 1.5-2 second period of time before returning to its original speed.
Cardiopulmonary Bypass Equipment Market – Regional Analysis
Regional segmentation of the global cardiopulmonary bypass equipment market by Coherent Market Insights comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold a dominant position in global cardiopulmonary bypass equipment market over the forecast period, due to increasing prevalence of cardiovascular diseases in the region. According to the American Heart Association (AHA), 2017, about 92.1 million adults in the U.S. are suffering from some form of cardiovascular disease or the after-effects of stroke. AHA also stated in its report, that direct and indirect costs of cardiovascular diseases and stroke are estimated to account for US$ 316 billion, including health expenditures and lost productivity.
Asia Pacific is expected to witness fastest growth in the global cardiopulmonary bypass equipment market due to increasing patient pool and growing medical tourism for various surgeries in the region. For instance, according to Directorate-General of Commercial Intelligence and Statistics of India, in 2015 – 2016, hospitals in India recorded 460,000 international patients.
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