Global Cardiopulmonary Devices Market valued at $2.8 billion in 2021, is expected to witness a growth of 5% by 2026
Cardiopulmonary diseases include a range of medical conditions that affect the heart and lungs. Cardiopulmonary devices include heart-lung machines (HLM), percutaneous ventricular assist devices (PVAD), extracorporeal membrane oxygenation (ECMO) & Autotransfusion (ATS). These devices find usage in cardiac surgeries, pulmonary surgeries, congenital defects, cardiopulmonary bypass procedures, cardiogenic shock/respiratory failure, joint replacement surgeries, aneurysm surgeries, transplants, and other indications.
Impact of Covid-19 Pandemic on the Cardiopulmonary Devices Market
During 2020-2021, most of the patients infected with the Covid-19 virus showcased moderate symptoms and recovered quickly. However, some patients developed severe respiratory failure and required intensive care unit (ICU) admission and mechanical ventilation. To treat and save the lives of these severe Covid-19 patients, ECMO emerged as a promising treatment option. The ECMO machine supports both the heart and lungs and stabilizes patients to allow their bodies more time to fight the virus.
Regulatory
Policies in Major Markets Boosts the Cardiopulmonary
Devices Market
To fight the Covid-19 pandemic and to
offer cardiopulmonary and advanced circulatory support products and therapies
that may benefit Covid-19 virus-infected patients, in April 2020 the FDA permitted
manufacturers of cardiopulmonary bypass devices to modify the product
indications for use to include ECMO therapy for greater than six hours, without
prior submission of a premarket notification to FDA. The favourable regulatory
policy change resulted in increased sales of cardiopulmonary and advanced
circulatory support products.
“ECMO has emerged as a game-changer for Covid-19 patients. It has
proven to be a life saver. More than 200 patients at our hospital who have been
on ECMO longer than 24 hours have recovered.”-Director, Mechanical
Circulatory Support & ECMO, Leading Hospital, United States
Technological Advancements Drives the Cardiopulmonary
Devices Market
The cardiopulmonary devices market
is a technology-driven market and is marked by constant product
enhancements/innovations. For instance,
- In April, 2022, LivaNova initiates the targeted commercial launch of the Essenz™ Patient Monitor for cardiopulmonary bypass procedures. The transformative monitoring system uses a patient-tailored approach to improve clinical efficiency and quality of patient care during cardiopulmonary bypass (CPB) procedures.
Growth Strategies Adopted by Key Players to Establish Their
Foothold in
The global cardiopulmonary devices market is marked by the presence of both established and new players. Players operating in the market have adopted both organic and inorganic growth strategies such as acquisitions, and new product launches to garner higher market share. For instance,
- In February 2022, Getinge acquired 100% of the equity interest in Talis Clinical LLC, a US-based leading innovator of High Acuity cloud-based software solutions. Talis Clinical’s offer is designed to support and document care throughout the general and cardiac perioperative care process, but also through labor and delivery episodes and critical care support including ECMO Therapy.
The cardiopulmonary
devices market is estimated to grow at a decent rate in the upcoming years due
to growing cases of cardiopulmonary cases,
technological advancements in cardiopulmonary devices, rising number of orthopaedic
& transplant procedures, and rising aging population.
Competitive
Landscape Analysis: Cardiopulmonary Devices Market
The cardiopulmonary
devices market is marked by the presence of major market players such as
LivaNova, Getinge, Terumo, Medtronic, Abbott, Abiomed, Haemonetics, Fresenius,
among others.
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