Market Overview
- The Global Artificial-Heart Lung Machine Market is expected to grow at a CAGR of 4.3% during the forecasting period (2020-2027).
- An artificial heart-lung machine is used in open-heart surgery to support the proper functioning of the heart and body during the surgery. The heart-lung machine contains a chamber that receives the blood from the body, oxygenates, and transfers the blood to all parts of the body. The machine is connected to the patient with a series of tubes, which is then removed after the completion of the surgery when the heart and lungs resume its normal functions.
Download free sample: https://www.datamintelligence.com/download-sample/artificial-heart-lung-machine-market
Market Dynamics
- The major driving forces are the rising heart disease prevalence, growing geriatric population, and technological advancements.
- The rising heart disease prevalence is expected to boost market growth over the forecast period. For instance, according to the WHO, around 17.9 million people die of cardiovascular diseases, every year, an estimated 31% of all deaths worldwide. Four out of five CVD deaths are due to heart attacks and strokes. According to the World Journal of Cardiovascular Diseases, more than 7 million deaths are due to sudden cardiac arrest across the world each year. Thus, the growing number of heart failures, strokes, heart attacks, and other heart-related illnesses are driving market growth.
- The rising geriatric population is expected to boost market growth. Many nations are facing challenges due to the ongoing and the increasing demographic shift in age among their people. As per the Department of Economic and Social Affairs Population Division of UN, 2017, the world's population of 60 years will double and those of 80 years old will triple in the next 30 years. As per WHO, the number of people age 65 or older is expected to grow to around 1.5 billion in 2050, with most of the increase in the developing countries. Thus, the growing geriatric population, who are more prone to chronic illness like CVDs, are driving the market.
- However, stringent regulations and the shortage of skilled healthcare professionals are expected to hamper the market growth.
- The shortage of skilled healthcare professionals is likely to hinder the market growth. For instance, according to a news published in Science Daily on May 17, 2016, the American Association for Thoracic Surgery has estimated that looking forward to 2035, a growing imbalance is projected between the number of cardiothoracic surgeons required and the number available. Also, they have estimated that cardiothoracic surgeons should increase their caseload by 121 % to meet the demand of rising incidences of cardiovascular disease.
Market Segmentation Analysis
- The global artificial heart-lung machine market can be segmented by application into cardiac surgery, lung transplantation operations, acute respiratory failure treatment, and others.
- By application, cardiac surgery is likely to grow at a rapid CAGR in the forecast period. The increasing number of cardiac surgeries is expected to propel market growth. For instance, according to the Texas Heart Institute, thousands of heart surgeries are performed every day in the US. Even though there is a shortage of donor organs, more than 3,400 people have heart transplants every year. Thus, the increasing number of cardiac surgeries are driving market growth.
- The acute respiratory failure treatment segment is also expected to grow at a high rate, owing to the increasing incidence. For instance, according to the American Thoracic Society, around 360,000 people will have acute respiratory failure each year in the US. Approximately 36 % of these individuals die during a hospital stay. This figure may become higher, depending on the underlying cause. For example, the authors of a study in the European Respiratory Review estimated that people in the hospital with the most severe form of ARDS have a 42 % mortality rate.
Market Geographical Analysis
- Geographically, the global artificial heart-lung machine market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- North America is dominating the global artificial heart-lung machine market in 2018 and is estimated to hold significant market size over the forecast period (2020-2027) owing to the increasing incidences of cardiovascular diseases, rapid technological advances, increasing awareness among the population, and the growing preference for minimally invasive procedures.
- The rising incidences of cardiovascular diseases are expected to drive the market over the forecast period. For instance, according to the American College of Cardiology, cardiovascular disease accounted for 800,000 deaths in the US in 2017 alone. Also, among Americans, an average of one person dies from cardiovascular disease, every 40 seconds. Coronary heart disease accounts for the majority of CVD deaths, followed by stroke and heart failure. CDC has estimated that heart disease is the leading cause of death in the US, and responsible for 1 in 4 deaths every year. Almost 6 million Americans currently have heart failure, a figure which is expected to increase by 46 %, to 8 million, by 2030. Thus, the growing number of cardiovascular diseases is driving the market.
Market Competitive Trends
- The major players operating in the global artificial heart-lung machine market are LivaNova Plc, Terumo Corporation, SynCardia, Medtronic, and MAQUET GmbH & Co. KG (Getinge group).
- The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, which are contributing to the growth of the artificial heart-lung machine market globally. For instance,
- In June 2019, the Getinge group announced a medical device recall of custom tubing kits for heart-lung machines.
View full report: https://www.datamintelligence.com/research-report/artificial-heart-lung-machine-market
Enquiry before buying: https://www.datamintelligence.com/enquiry/artificial-heart-lung-machine-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: [email protected]
Tel: +1 877 441 4866
Website: www.datamintelligence.com
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the artificial heart-lung machine market include Medtronic Inc., Sorin Group, MAQUET GmbH & Co. KG, Terumo Corporation, C. R. Bard Inc., Edwards Lifesciences, Braile Biomedica, Tianjin Medical, SynCardia, Jarvik Heart.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Artificial Heart-Lung Machine Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/artificial-heart-lung-machine-market/download-sampleMarket Dynamics The global artificial heart-lung machine market will grow significantly due to the growing aging population and a growing number of cardiovascular diseases.
Cardiovascular diseases are one of the foremost death cause globally, and treatment is based on surgery, medication, and the installation of healthy habits.
Among the treatments, the surgical one is the most proliferating exponentially over the years.
According to United Stations, there were 703 million persons aged 65 years or over in 2019, forecasted to double to 1.5 billion in 2050.
