Artificial Kidneys is fastest growing segment fueling the growth of Oxygenators Market

 

The global Oxygenators Market is estimated to be valued at US$ 250.9 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Oxygenators, also known as membrane oxygenators or cardiopulmonary bypass units, are medical devices used during open-heart surgeries to oxygenate blood and to remove carbon dioxide from blood when the heart isn't pumping normally. Oxygenators use a semi-permeable membrane that allows gases like oxygen and carbon dioxide to pass through but not blood cells and plasma.

Market key trends:
One of the key trends in the oxygenators market is the increasing adoption of miniaturized oxygenators. Miniaturized oxygenators are gaining traction due to their benefits over conventional oxygenators such as less blood usage, minimal hemolysis, less post-operative complications, and shorter intensive care unit stays. Moreover, miniaturized oxygenators effectively oxygenate and remove carbon dioxide from a patient's blood flow during low cardiac output states like cardiogenic shock. Their small priming volume is clinically significant in pediatric patients as well as for minimally invasive cardiac surgery in adults. Various companies are focused on developing advanced miniaturized oxygenators to expand their product portfolios.
Segment Analysis
The global oxygenators market is segmented into ventricular assist devices, extracorporeal membrane oxygenation systems, intra-aortic balloon pumps, and total artificial heart. Among these, the ventricular assist devices segment dominates the market and accounted for the largest market share in 2022. Ventricular assist devices are preferred over other devices as they help sustain life in severely failing hearts. Their high demand in bridging patients to transplantation and as destination therapy options have contributed to the segment's large share in the oxygenators market.

Key Takeaways
The global oxygenators market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing prevalence of cardiovascular diseases.

Regional analysis
North America dominated the global oxygenators market in 2022 and is expected to continue its dominance over the forecast period. This is attributed to the rising prevalence of cardiovascular diseases such as heart failure in the region. Asia Pacific is expected to witness the fastest growth during the forecast period owing to growing healthcare expenditure, increasing medical tourism, rising geriatric population, and improved access to healthcare in emerging countries of the region.

Key players
Key players operating in the oxygenators market are Owgels Group, Braile Biomedica, Terumo Corporation, Nipro Corporation, Medtronic PLC, Getinge AB, EUROSETS SRL, Chalice Medical Ltd., Gen World Medical Devices, MC3 Cardiopulmonary, LivaNova PLC, MicroPort Scientific Corporation, Senko Medical Instrument Mfg Co. Ltd (MERA), and Xenios AG (Fresenius Medical Company), among others. Braile Biomedica and Terumo Corporation captured a significant market share in 2022 owing to their widespread product portfolios and strong geographical presence across the globe.

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