The rise in the prevalence of cardiovascular disease and the growing geriatric population are some factors driving the growth of the oxygenator market

HYDERABAD, TELANGANA, INDIA, February 10, 2023/EINPresswire.com/ -- The Oxygenator Market size in 2019 is estimated to be $146 million, growing at a CAGR of 5.3% during the forecast period 2020-2025. Oxygenators are medical devices that are often used in the medical environment. They are used in surgical procedures that have the ability to exchange oxygen and carbon dioxide while the patient is undergoing surgical procedures. An oxygenator is typically utilized by a perfusionist during cardiac surgery and is capable of exchanging oxygen and carbon dioxide in the blood of patients. The rise in the prevalence of cardiovascular disease and changing lifestyles are the major factors driving the growth of the market. Moreover, the growing geriatric population and rising adoption of surgical procedures further enhance the overall market demand for Oxygenators during the forecast period 2020-2025.

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Key Takeaways

1. In 2019, North America dominates the oxygenator market owing to improved patient safety and awareness among patients about health.

2. The rise in the prevalence of cardiovascular disease, changing lifestyle,4. and technological advancement is driving the market growth of oxygenators.

3. Detailed analysis of the Strength, Weaknesses, and opportunities of the prominent players operating in the market will be provided in the oxygenator market report.

4. The high cost of devices and rising complications arising from direct contact with blood are challenging the growth of the market.

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Segment Analysis

1. Based on the Product, the oxygenator market is segmented into bubble oxygenators and membrane oxygenators. The membrane oxygenator is forecast to be the fastest-growing segment and is estimated to grow at a CAGR of 4.9% during the forecast period 2020-2025. This is mainly owing to less hemolysis, less blood trauma, and less bleeding. Moreover, reducing the damage and thrombosis of patients that are contributing to the growth of this segment.

2. Based on the end-user, the oxygenator market is segmented into hospitals, clinics, and ambulatory surgical centers. In 2019, hospitals held the largest share of the oxygenator market. Growing demand for efficient and effective surgery with shorter recovery time and reduced hospital stay are key factors driving the growth of this segment.

3. North America dominated the oxygenator market share accounting for 32% of the market in 2019. This is mainly owing to improved patient safety and awareness among patients about health. According to U.S. Food and Drug Administration, more than 300,000 patients suffer from acute cardiac or respiratory disease. North America launches a new TandemLung Oxygenator and pond pump oxygenator that is approved by the FDA for the protection of patients from the negative effects of respiratory function.

Competitive landscape:

The top 5 players in the Oxygenator industry are:

1. LivaNova PLC
2. Medtronic
3. EUROSETS
4. Chalice Medical Ltd
5. MAQUET Holding B.V. & Co. KG.

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