Latest News- Heart-Lung Machines Market: Hospitals is expected to lead the End-user segment during 2024-2028
The Heart-Lung Machines Market is being driven by Increased medical tourism in Asia
The Heart-Lung Machines Market is expected to grow at a CAGR of 3.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 168.1 million. Portable heart-lung machines offer several advantages over conventional models, including reduced size and weight for easier maneuverability in operating rooms. However, these benefits come with a higher price tag. To mitigate the financial burden on hospitals, vendors have developed portable heart-lung machines with rechargeable batteries, enabling transportation throughout the facility. These devices are essential for providing extracorporeal circulation to critically ill patients during emergencies, whether in an ambulatory setting or in the operating room. Notable vendors, such as MAQUET, a subsidiary of Getinge Group, have introduced compact and efficient portable heart-lung machines, like the CARDIOHELP System, which has gained significant traction in European markets like Germany and the UK.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on End-user (Hospitals, ASCs) Application (Heart surgery, Heart failure, Lung surgery) Geography (North America, Europe, Asia, Rest of World (ROW)).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Heart-Lung Machines Market Research Report
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Heart-Lung Machines Market: This market encompasses advanced Cardiopulmonary bypass machines, utilized in cardiac surgeries for patients with cardiovascular diseases undergoing open-heart surgery. With an aging population, the demand for these medical equipment is escalating. They function by oxygenating blood and removing carbon dioxide during surgeries, including organ transplants and lung surgeries. Miniaturized and portable systems offer convenience, while biocompatibility and maintenance are crucial considerations. Cardiovascular disorders like coronary artery disease necessitate advanced heart-lung machines for effective blood flow, oxygenation, and circulation. These devices employ pumps and oxygenators, and their monitoring systems ensure precise double roller pump functioning.
The Heart-Lung Machines Market is a significant segment of the global healthcare equipment industry, specifically within the cardiovascular disease sector. This market encompasses cardiopulmonary bypass machines, which are essential for performing open-heart surgeries and organ transplants. As the global population ages, the demand for cardiac surgeries is projected to increase, leading to a growing market for heart-lung machines. Technavio, a leading technology research and consulting firm, classifies this market as part of the broader healthcare equipment market, which includes manufacturers of capital equipment, instruments, implants, accessories, and consumables used in various therapy areas. The global healthcare equipment market size is determined by the combined revenue generated from the sales of these products. Key applications for heart-lung machines include cardiovascular diseases and organ transplants, making this market a vital component of the healthcare industry's ongoing efforts to improve patient outcomes.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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