Oxygenators Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Oxygenators Market Analysis
The oxygenators market is expected to register a CAGR of 5.4% during the forecast period 2022-2027.
To cope with the current COVID-19 situation, companies are increasing the production of oxygenators globally to support the adoption of ECMO procedures for the treatment of COVID-19 patients. There has been a huge increase in the demand for oxygenators in ICU units. In addition, these devices have the most significant aspects of critical care in surgical procedures and the management of COVID-19 patients; therefore, market players are launching products associated with oxygenators. COVID-19 also impacted the production of oxygenator products in 2020. Furthermore, the delay of elective procedures due to COVID-19-related measures adversely affected medical devices such as oxygenators, especially in the first half of 2020.
The major factors driving the growth of the market are 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. For instance, according to the World Health Organization, nearly 17.9 million people died from cardiovascular diseases in 2019, representing 32% of all global deaths, which directly resulted in higher demand for coronary artery bypass procedures, leading to a rising focus on oxygenators for efficient treatments, fueling the growth of the market throughout the forecast period.
Moreover, there is a rising burden of cardiovascular diseases across the world, and they are the leading causes 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.
However, the adoption of minimally invasive procedures, like percutaneous coronary interventions, risks associated with oxygenation systems, and stringent US FDA regulations for Class II category devices, which should comply with the performance standards, are acting as barriers to the overall market growth.
Oxygenators Market Trends
This section covers the major market trends shaping the Oxygenators Market according to our research experts:
The Membrane Oxygenators Segment is Expected to Hold the Largest Market Share
The membrane oxygenators segment is expected to witness the largest market share during the forecast period due to their rising adoption in CABG procedures and extracorporeal circulation for cardiopulmonary support in various surgical procedures, along with heart-lung machines, due to advantages such as reduction of the damage of tissues and thrombosis compared to bubble oxygenators. Also, their rapid deployability, effective gas exchange in a relatively small membrane surface area, enhanced blood flows, less hemolysis, and less post-operative bleeding further boost the growth of the segment.
Based on application, the respiratory segment is expected to hold a major market share during the forecast period. This can be attributed to the rise in the prevalence of chronic obstructive pulmonary disease (COPD) and cardiopulmonary diseases.
Moreover, in April 2020, an Indian firm, Genrich Membranes, which is being funded by the Department of Science and Technology (DST), India, developed membrane oxygenator equipment for the treatment of COVID-19 patients. Hence, companies are working on manufacturing oxygenators as the surgeries that were put on hold during the initial days are now resuming, and thus, the demand for these devices is rising.
North America is Expected to Dominate the Market Over the Forecast Period
The United States has been the most affected country across the world, as the non-emergent surgical procedures were put on hold, due to which the demand for these devices will decrease. However, the surgical procedures are resuming now with proper regulating guidelines, which will further increase the demand for these oxygenators, and the market growth will gradually rise.
North America is expected to dominate the overall oxygenators market throughout the forecast period. The major factors attributing to the growth are rise in the global prevalence of multiple cardiovascular indications like CAD, ischemic strokes, and atrial fibrillation, along with acute respiratory disorders such as acute respiratory distress syndrome (ARDS), due to a rise in chronic diseases, such as diabetes and obesity, necessitating the cardiopulmonary bypass procedures and thus, rise in demand for oxygenators. For instance, according to the Center for Disease Control and Prevention, 2021, heart disease accounts for one in four deaths in the United States. Coronary heart disease is the leading cause of deaths attributable to cardiovascular disease in the United States causing 360,900 deaths, followed by stroke (805,000). This scenario is leading to a higher demand for better treatment with efficient medication, which is driving the market in the United States.
Furthermore, favorable reimbursement policies, approvals by the Food and Drug Administration (FDA), and availability of healthcare infrastructure in the region are expected to fuel the market during the forecast period.
Oxygenators Industry Overview
The oxygenators market is moderately competitive and consists of several major players. Few of the key players are launching new products with advanced technologies to compete with the existing products, while others are acquiring and partnering with other companies trending in the market. Some of the companies currently dominating the market are Medtronic PLC, Terumo Medical Corporation, Getinge AB, EUROSETS SRL, and Livanova PLC.
Oxygenators Market Leaders
-
Medtronic plc
-
EUROSETS
-
Getinge AB
-
Livanova Plc
-
Terumo Medical Corporation
*Disclaimer: Major Players sorted in no particular order
Oxygenators Market News
- In January 2021, Eurosets launched its new product, the ECMOlifesystem for Extra Corporeal Life Support (ECLS).
- In February 2020, Chalice Medical Ltd filed a premarket notification with the United States FDA for Paragon Adult Maxi Pmp Oxygenator.
Oxygenators Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Rise in Global Prevalence of Cardiopulmonary Disorders
- 4.2.2 Increasing Geriatric Population, Rise in Global Healthcare Expenditure, and Growth in Disposable Income
- 4.2.3 Availability of Technologically Advanced Products and Reimbursement Policies
-
4.3 Market Restraints
- 4.3.1 Adoption of Minimally Invasive Procedures and Risks Associated with Oxygenation Systems
- 4.3.2 Stringent FDA Regulations
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
-
5.1 Product Type
- 5.1.1 Bubble Oxygenator
- 5.1.2 Membrane Oxygenator
-
5.2 Application
- 5.2.1 Respiratory
- 5.2.2 Cardiac
- 5.2.3 Extracorporeal Cardiopulmonary Resuscitation (ECPR)
-
5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle-East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle-East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
-
6.1 Company Profiles
- 6.1.1 Chalice Medical Ltd
- 6.1.2 EUROSETS SRL
- 6.1.3 Getinge AB
- 6.1.4 Livanova PLC
- 6.1.5 Medtronic PLC
- 6.1.6 Microport Scientific Corporation
- 6.1.7 Nipro Medical Corporation
- 6.1.8 Terumo Medical Corporation
- 6.1.9 Braile Biomedica
- 6.1.10 Xenios AG
- 6.1.11 MC3 Cardiopulmonary
- 6.1.12 Gen World Medical Devices
- 6.1.13 Senko Medical Instrument Mfg Co. Ltd (MERA)
- 6.1.14 Owgels Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityOxygenators Industry Segmentation
An oxygenator is an essential medical device routinely used along with a heart-lung machine to facilitate the exchange of gases as a substitute for lungs during surgical procedures that may necessitate the interruption or cessation of blood flow in the body, heart, lungs, or blood vessels, like aorta, pulmonary artery, or vena cava. These devices are majorly used in cardiopulmonary surgeries and coronary artery bypass grafting (CABG) procedures. The increased adoption of oxygenators due to the availability of products specific to infants and adults may contribute to the growth of the market during the forecast period. The oxygenators market is segmented by product type (bubble oxygenator and membrane oxygenator), application (respiratory, cardiac, and extracorporeal cardiopulmonary resuscitation [ECPR]), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the market size and forecasts in value (USD million) for the above segments.
| Product Type | Bubble Oxygenator | |
| Membrane Oxygenator | ||
| Application | Respiratory | |
| Cardiac | ||
| Extracorporeal Cardiopulmonary Resuscitation (ECPR) | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Oxygenators Market Research FAQs
What is the current Oxygenators Market size?
The Oxygenators Market is projected to register a CAGR of 5.40% during the forecast period (2024-2029)
Who are the key players in Oxygenators Market?
Medtronic plc, EUROSETS, Getinge AB, Livanova Plc and Terumo Medical Corporation are the major companies operating in the Oxygenators Market.
Which is the fastest growing region in Oxygenators Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Oxygenators Market?
In 2024, the North America accounts for the largest market share in Oxygenators Market.
What years does this Oxygenators Market cover?
The report covers the Oxygenators Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Oxygenators Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Oxygenators Industry Report
The Global Oxygenator Manufacturers market is segmented by product type, including bubble oxygenators and membrane oxygenators, as well as by application, covering respiratory, cardiac, and extracorporeal cardiopulmonary resuscitation (ECPR). The report offers a comprehensive market analysis, providing insights into market trends, market growth, and market segmentation across various regions such as North America, Europe, Asia-Pacific, Middle-East and Africa, and South America. The market share and market size are presented in terms of USD million for the respective segments.
The industry report includes an industry overview and a detailed industry analysis, highlighting key industry statistics and industry trends. The report also features a market forecast, offering a market outlook and market predictions up to the forecast period. The industry research provides valuable industry information and industry sales data, which are essential for understanding the market dynamics and growth rate.
Furthermore, the report includes an industry outlook and market review, examining the market leaders and their market value. The report example and report PDF are available for download, providing a detailed market overview and market data. This industry research is crucial for research companies looking to gain insights into the oxygenator market. The report also highlights the market segmentation and market value, offering a comprehensive market forecast and industry reports.
