The market for cardiopulmonary devices is expected to grow due to a number of factors, including an aging population, an increase in the prevalence of cardiopulmonary diseases, a rise in demand for these devices as a result of COVID-19, an increase in the number of ECMO centers, growing awareness of the devices, and an increase in the number of complex cardiac surgeries. But the lack of perfusionists in rich nations like the USA is probably going to impede the market’s expansion.
Cardiopulmonary diseases include a range of conditions that affect the heart and lungs. Cardiopulmonary devices include heart-lung machines (HLM), percutaneous ventricular assist devices (PVAD), extracorporeal membrane oxygenation (ECMO) & Autotransfusion (ATS). These devices find usage in cardiac surgeries, pulmonary surgeries, congenital defects, cardiopulmonary bypass procedures, cardiogenic shock/respiratory failure, joint replacement surgeries, aneurysm surgeries, transplants, and other indications.
Get A Sample PDF : https://meditechinsights.com/cardiopulmonary-devices-market/request-sample/
Favourable Impact of Covid-19 on the Cardiopulmonary Devices Market
Throughout 2020 and 2021, the Covid-19 virus spread rapidly and relentlessly across the globe and adversely impacted a multitude of industries worldwide. With lockdowns implemented, social distancing mandated, and widespread apprehension – Covid-19 adversely impacted health services internationally. However, the virus favorably impacted the cardiopulmonary devices market.
During 2020-2021, most of the patients infected with the Covid-19 virus showcased moderate symptoms and recovered quickly. However, some patients developed severe respiratory failure and required intensive care unit (ICU) admission and mechanical ventilation. To treat and save the lives of these severe Covid-19 patients, ECMO emerged as a promising treatment option. The ECMO machine supports both the heart and lungs and stabilizes patients to allow their bodies more time to fight the virus.
Growing awareness about ECMO, HLM & other cardiopulmonary devices and the implementation of new ECMO centers during the COVID-19 pandemic further boosted the global cardiopulmonary devices market.
Favorable Regulatory Policies in Key Markets Boosted the Cardiopulmonary Devices Market
To fight the Covid-19 pandemic and to offer cardiopulmonary and advanced circulatory support products and therapies that may benefit Covid-19 virus-infected patients, in April 2020 the FDA permitted manufacturers of cardiopulmonary bypass devices to modify the product indications for use to include ECMO therapy for greater than six hours, without prior submission of a premarket notification to FDA. The favorable regulatory policy change resulted in increased sales of cardiopulmonary and advanced circulatory support products.
“ECMO has emerged as a game-changer for Covid-19 patients. It has proven to be a life saver. More than 200 patients at our hospital who have been on ECMO longer than 24 hours have recovered.” – Director, Mechanical Circulatory Support & ECMO, Leading Hospital, United States
Technological Advancements Drives the Cardiopulmonary Devices Market
The global cardiopulmonary devices market is a technology-driven market and is marked by constant product enhancements/innovations. For instance,
- In April, 2022, LivaNova initiates the targeted commercial launch of the Essenz™ Patient Monitor for cardiopulmonary bypass procedures. The transformative monitoring system uses a patient-tailored approach to improve clinical efficiency and quality of patient care during cardiopulmonary bypass (CPB) procedures.
- In January 2021, Eurosets announced the full commercial release (out of USA) of its novel ECMOlife system for ExtraCorporeal Life Support (ECLS). ECMOlife expands Eurosets’ portfolio to provide temporary support to patients in different therapeutic areas, including ExtraCorporeal Membrane Oxygenation (ECMO) and Mechanical Circulatory Support (MCS).
Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold
The cardiopulmonary devices market is marked by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as acquisitions, and new product launches to garner market share. For instance,
- In February 2022, Getinge acquired 100% of the equity interest in Talis Clinical LLC, a US-based leading innovator of High Acuity cloud-based software solutions. Talis Clinical’s offer is designed to support and document care throughout the general and cardiac perioperative care process, but also through labor and delivery episodes and critical care support including ECMO Therapy.
- In October 2021, MicroPort acquired 100% of the equity held by existing shareholders of Hemovent GmbH. Hemovent specializes in the development of ground-breaking Extracorporeal Life Support (ECLS) systems.
- In April 2020, Abiomed, manufacturer of the Impella heart pump, acquired Breethe, developer of a novel extracorporeal membrane oxygenation (ECMO) system. The acquisition complements and expands Abiomed’s product portfolio to more comprehensively serve the needs of patients whose lungs can no longer provide sufficient oxygenation, including patients suffering from cardiogenic shock or respiratory failure such as due to ARDS, H1N1, SARS, or COVID-19.
The cardiopulmonary devices market is expected to continue to grow in the coming years due to growing cases of cardiopulmonary cases, technological advancements in cardiopulmonary devices, rising number of orthopedic & transplant procedures, and rising aging populations.
Competitive Landscape Analysis: Cardiopulmonary Devices Market
The global cardiopulmonary devices market is marked by the presence of leading players such as LivaNova, Getinge, Terumo, Medtronic, Abbott, Abiomed, Haemonetics, Fresenius, among others.
Check out our other Press releases:
