Cardiopulmonary Bypass Equipment Market - Global Size, Share, Trends, Growth and Forecast Year ( 2023 – 2032 )
Cardiopulmonary Bypass Equipment
Cardiopulmonary bypass (CPB) equipment is a medical technology used to support the heart and lungs during cardiac surgery. It involves the use of a machine to circulate blood and oxygen to the body while the heart is stopped or not functioning properly.
Cardiopulmonary Bypass Equipment Market
The market size for Cardiopulmonary Bypass Equipment Market was USD 118.0 million in the year 2022. It is expected that the market size for Cardiopulmonary Bypass Equipment will increase by approximately USD 139.7 million by 2032 as the market for Cardiopulmonary Bypass Equipment Market is continuously growing at a compound annual growth rate (CAGR) of 1.7% during the forecast period 2023-2032. The global market for CPB equipment is expected to grow in the coming years due to an increasing prevalence of cardiovascular disease, an aging population, and advances in surgical techniques.
Cardiopulmonary Bypass Equipment Market Report Scope
USD 118.0 million
USD 139.7 million
1.7% from 2023 to 2032
Cardiopulmonary Bypass Equipment Market Key Drivers
There are various factors which help in the growth of the Cardiopulmonary Bypass Equipment Market. They are as follows:
- Increasing prevalence of cardiovascular diseases: Due to the aging population and poor lifestyle, there is an increase in the prevalence of cardiovascular diseases, which leads to driving demand for CPB equipment.
- Advances in surgical techniques: New technologies have been introduced for cardiovascular surgery, which leads to driving demand for CPB equipment.
- Aging population: The aging population is suffering more from cardiovascular diseases, leading to an increase in market demand for CPB equipment.
- Government initiatives and healthcare reform: Government is several initiatives to improve healthcare, which will drive demand for CPB equipment.
- Economic growth: Economic growth in developing countries will lead to improved healthcare services, which will increase the demand for CPB equipment.
Cardiopulmonary Bypass Equipment Market Challenges
There are many challenges which are faced by Cardiopulmonary Bypass Equipment Market. They are listed below:
- High cost: The equipment is expensive, which can be a barrier for patients and healthcare providers.
- Reimbursement issues: In some regions, the use of CPB equipment cannot be fully reimbursed, which can be a barrier to adoption.
- Competition from alternative technologies: Alternative technologies, such as minimally invasive techniques are cost-efficient and potentially, can be a barrier for the CPB market.
- Regulatory hurdles: There are several regulations in this industry as the process is lengthy and costly, which can be a barrier for new companies to enter the market.
- Limited availability in certain regions: There is limited availability for CPB equipment in some due to a lack of infrastructure or trained personnel, which can be challenging for patients to travel long distances to receive care.
Cardiopulmonary Bypass Equipment Market Regional Synopsis
- North America: It is a significant market with a high prevalence of cardiovascular disease and a well-established healthcare infrastructure in the region.
- Europe: It is an important market with a large and aging population and a high demand for advanced medical technologies.
- Asia Pacific: It is expected that the region will have significant growth in the coming years due to economic growth and increasing healthcare spending.
- Latin America: It is a growing market with an increasing demand for advanced medical technologies and economic growth.
- Middle East and Africa: The market is expected to grow, although it is currently small as compared to other regions.
Cardiopulmonary Bypass Equipment Market Segmentation
The Cardiopulmonary Bypass Equipment Market is segmented into various categories which are listed below:
By type of equipment:
- Heart-lung machines
- Perfusion sets
- Ambulatory surgical center
- Research laboratories
By product application:
- Coronary artery bypass surgery
- Valve surgery
- Heart transplantation surgery
By price range:
- Low-end segments
By distribution channel:
- Direct sales
- Online sales
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Cardiopulmonary Bypass Equipment Market Key Players
- Sorin Group