Oxygenators Market: Insights and Emerging Trends by 2026
, 11 February 2019
-- Oxygenators Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026
Oxygenators are medical devices that are often used in a medical environment. They are used during surgical procedures and have the ability to exchange oxygen and carbon dioxide while the patient is undergoing a surgical procedure in case the procedure requires termination or suspension of blood flow to a vital blood vessel or organ in the body. Oxygenators have the ability to add oxygen and expel waste products such as carbon dioxide outside the body. Oxygenators are primarily used in cardiopulmonary surgeries and are used in concurrence with a heart-lung machine. They are also used by nurses in neonatal intensive care for extracorporeal membrane oxygenation and in case of respiratory failure. The enhanced oxygenators are designed in a manner that strives to maximize the amount of oxygen, carbon dioxide, and other gases that can be transferred at a given blood flow rate to make gas transport and regulation easy during a surgical procedure.
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Rise in prevalence of cardiovascular diseases and changing lifestyles globally are expected to propel the market. There is an increase in awareness regarding health and general well-being and greater adoption of surgical intervention in case of cardiac issues. This is further expected to fuel the market. The ability of oxygenators to serve as a substitute for lungs during a surgical procedure, where they are designed to expose the blood to oxygen and remove carbon dioxide, is further expected to fuel the market. Complications arising from direct contact with blood, blood trauma, infection, and high cost of these devices are expected to impede the global oxygenators market growth through 2026.
The global oxygenators market can be segmented based on product, application, and region. In terms of product, the global oxygenators market can be bifurcated into bubble oxygenators and membrane oxygenators. A bubble oxygenator is a device in which pure oxygen is bubbled through the reservoir of blood. Bubble oxygenators were used earlier and are now being increasingly replaced by membrane oxygenators due to the technological advancements in the devices. Varied materials were tried out in the early designs of gas exchange devices, including ceramics, plastics, rubber, and a number of synthetic products before the making of a membrane oxygenator that completely eliminated direct contact of gas and blood phases. The Membrane oxygenators segment can be further divided into flat sheet membrane oxygenators and hollow fiber membrane oxygenators.
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The membrane oxygenators segment is expected to hold a dominant market share during the forecast period as they cause relatively less hemolysis, less blood trauma, and less post-operative bleeding. Membrane oxygenators have the advantage of reducing the damage and thrombosis that is seen in bubble oxygenators. This is expected to further boost the market. Based on application, the market can be divided into cardiac, respiratory, and extracorporeal cardiopulmonary resuscitation (ECPR). The respiratory segment is expected to hold a major market share during the forecast period. This can be attributed to the rise in prevalence of chronic obstructive pulmonary disease (COPD) and increase in cardio pulmonary diseases.
In terms of region, the global oxygenator market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold a prominent market share during the forecast period. Favorable reimbursement policies and well-developed hospital infrastructure are expected to boost the market growth in the region. The first polymethylpentene (PMP) hollow fiber oxygenator was approved by the Food and Drug Administration (FDA) in 2008 to be used for extracorporeal support in the U.S. The market in Asia Pacific is expected to expand at a rapid CAGR during the forecast period owing to technological advancements, a large patient pool, and rise in adoption of surgical intervention to manage the cardiovascular disease burden.
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Key players operating in the global oxygenators market include LivaNova PLC, Medtronic, EUROSETS, Chalice Medical Ltd, MAQUET Holding B.V. & Co. KG., XENIOS AG, Weigao group, MicroPort Scientific Corporation, and Terumo Medical Corporation.
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Submitted by hawer on Monday, 11 February 2019 at 9:31 PM
Category: Health Care & Medical
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