increasing incidence of respiratory and heart failure is driving the Oxygenators Market
Technavio analyzes that the Oxygenators Market is expected to grow at a CAGR of 6.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 100.3 million.There are various factors that contribute to the growth of the market. The global Oxygenators Market is experiencing significant growth due to the rising prevalence of respiratory and heart diseases. These conditions often require the use of oxygenators to aid in the delivery of oxygen to the body. As the population ages and lifestyle-related diseases become more common, the demand for oxygenators is expected to increase substantially. The market is also driven by advancements in technology, leading to the development of more efficient and effective oxygenators.
The membrane oxygenator segment dominated the global oxygenators market in 2023, accounting for the largest market share. Membrane oxygenators are essential medical devices used to infuse oxygen and eliminate carbon dioxide from a patient's bloodstream, particularly during cardiac surgery or extracorporeal membrane oxygenation (ECMO). ECMO is a widely accepted life-support procedure for patients at risk of cardiac and respiratory failure. Key features of membrane oxygenators include quick recharge time, high energy density, extended warranty, total wattage, and watt-hours. They come with transfer switches for seamless power source transitions, energy storage, and rechargeable batteries. These devices offer starting and running wattages suitable for various medical applications, ensuring optimal patient care.
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Oxygenators Market Segmentation
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The Oxygenators Market encompasses various applications including gas generators, electric vehicles (EVs), battery-powered lawn mowers, and household appliances. Electric vehicles and appliances require supplemental batteries, charged through plug-in solar panels, to operate emissions-free and quietly. Oxygenators offer different battery chemistries such as Lithium-ion, Semisolid state, and Lead-acid, varying in power capacity, watt-hours, recharge time, energy density, and warranty. Charging appliances come with features like Bluetooth apps, pure sine-wave inverters, USB ports, expansion batteries, and different wattages (total, running, starting) in watts and watt-hours.
The Oxygenators Market is a significant segment of the global healthcare equipment industry, according to Technavio's market research. This market encompasses gas generators, EV batteries, battery-powered lawn mowers, battery cores, household appliances, electronics, supplemental batteries, plug-in solar panels, and other emissions-free, quiet operation products. Technavio positions this market within the larger global healthcare equipment market, which includes manufacturers of capital equipment, instruments, implants, accessories, and consumables used for disease diagnosis, monitoring, and treatment. The healthcare equipment market size is determined by the combined revenue generated by these manufacturers across various therapy areas. The Oxygenators Market specifically focuses on products that facilitate the delivery of oxygen to patients or power oxygen-dependent devices, contributing to the overall growth and innovation in the healthcare sector.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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