According to the global oxygenators market report by IMARC Group, the market reached a value of US$ 244.2 Million in 2022, and it is projected to reach a value of US$ 348.4 Million by 2028, exhibiting a CAGR of 5.9% during 2023-2028.
An oxygenator represents a medical device that is routinely used in medical settings to help exchange oxygen and carbon dioxide from the patient blood during surgical procedures. The device is utilized in conjunction with a heart-lung machine to facilitate gas exchange during operations in which the blood flow is interrupted or stopped. In addition, these devices are widely used to manage heart-related disorders, including cardiopulmonary, respiratory, and pulmonary disorders. Consequently, they are extensively adopted in hospitals, clinics, and other healthcare establishments across the globe.
Market Trends & Drivers
The increasing incidences of several coronary, orthopedic, and cardiovascular diseases among the masses, owing to the sedentary lifestyles led by individuals, are among the key factors stimulating the oxygenators market. Moreover, the growing geriatric population, which is susceptible to developing these diseases, is acting as another significant growth-inducing factor. Besides this, the inflating government investments in healthcare digitization, advanced infrastructure setup, and continuous product innovations are positively influencing the global market. Furthermore, the escalating demand for oxygenator devices across healthcare facilities across various countries, owing to improved healthcare settings, is also propelling the market growth.
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Apart from this, the increasing mergers and acquisitions (M&As) between key players to innovate state-of-the-art medical devices, the growing cases of severe COVID-19 across the globe, the launch of favorable healthcare reimbursement initiatives, and extensive R&D activities conducted by key players to introduce advanced medical devices in the market are further fueling the global market. Additionally, the rising usage of these devices in numerous critical surgeries, such as cardiopulmonary bypass grafts (CABG) and coronary artery bypass grafts (CABG), is anticipated to fuel the oxygenators market over the forecasted period.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Braile Biomédica, Chalice Medical Ltd, Eurosets S.r.l., Getinge AB, Livanova Plc, Medtronic plc, MicroPort, Nipro Corporation, Senko Medical Instrument Mfg. Co. Ltd., Terumo Medical Corporation (Terumo Corporation) and Xenios AG (Fresenius Medical Care AG & Co. KGaA).
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- Membrane Oxygenator
- Bubble Oxygenator
Breakup by Age Group:
- Neonates
- Pediatric
- Adults
Breakup by Application:
- Respiratory
- Cardiac
- Extracorporeal Cardiopulmonary
- Resuscitation (ECPR)
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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