IMARC Group’s latest report, titled “Artificial Heart-Lung Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the market size reached US$ 281.4 Million in 2018. An artificial heart-lung machine (HLM), also known as a cardiopulmonary bypass pump, refers to an apparatus that performs the function of both the heart and lungs during open-heart surgery or a transplant. It ensures that the blood receives oxygen and removes carbon dioxide before the blood is pumped back into the body. It keeps the patient alive during heart transplants and has formed the basis of the medical support given to premature babies and those with respiratory or cardiac problems for extended periods. Some of the main components of an HLM include pump, heat exchanger, oxygenator, filter, temperature regulator and connecting tube.
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Global Artificial Heart-Lung Machine Market Trends:
According to the 2016 estimates of the World Health Organization (WHO), approximately 17.9 million people die from cardiovascular diseases (CVDs) per year, representing 31% of all the global deaths. The high prevalence of CVDs, along with improved access to healthcare facilities, has led to a consequent rise in the number of open-heart surgeries or coronary interventions performed worldwide, which in turn has increased the demand for HLMs. Apart from this, the leading firms are engaged in continuous innovation with global research and development (R&D) centers for introducing better technologies to improve patient heart conditions. For instance, LivaNova, a global medical technology company, has designed machines ranging from small, compact HLMs equipped with three roller pumps to full-featured systems with seven roller pumps and the full range of control and monitoring functions. As a result of these factors, the market value is projected to reach US$ 410.7 Million by 2024, registering a CAGR of 6.5% during 2019-2024.
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- Based on the type, the market has been segmented into single and double roller pumps.
- The market has been segregated on the basis of the application into cardiac surgeries, lung surgeries, acute respiratory failure treatment and others.
- On the basis of the end user, ambulatory surgical centers represent the leading segment, accounting for the majority of the global market share. Ambulatory surgical centers are followed by hospitals and clinics.
- Region-wise, North America enjoys the leading position in the market. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being Medtronic Inc., Sorin Group, MAQUET GmbH & Co KG, Terumo Corporation, C.R. Bard Inc., Tianjin Welcome Medical Equipment Co., Ltd., Edwards Lifesciences, Jarvik Heart Inc., Braile Biomedica and SynCardia Systems, LLC.
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Global Artificial Heart-Lung Machine Market Report and Forecast 2019-2024: https://www.imarcgroup.com/artificial-heart-lung-machine-market
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