Membrane Oxygenators Market Size & Growth Analysis to 2030

The global membrane oxygenators market size is expected to grow at a significant CAGR of around 2% during the forecast period 2021 to 2027 and was valued at USD 120 million in 2020. The increasing incidence of respiratory and cardiovascular diseases around the world is a primary factor to drive the market growth. As per the latest information shared by World Health Organization (WHO), 16% of deaths are recorded due to ischemic heart diseases in 2020.

Furthermore, the increasing incidence of coronary heart diseases due to changing lifestyles and the growth in the geriatric population is expected to boost the market growth over the forecast period. Moreover, the increasing awareness programs and technological advancement are further expected to drive the market. In addition, the membrane oxygenators were widely used in COVID 19 cases in the first two waves around the world.

Market Drivers:

Increasing Prevalence of Respiratory and Cardiovascular Diseases: The rising prevalence of respiratory and cardiovascular diseases, such as chronic obstructive pulmonary disease (COPD), heart failure, and acute respiratory distress syndrome (ARDS), drives the demand for membrane oxygenators. These devices are used in extracorporeal membrane oxygenation (ECMO) procedures to provide oxygenation and remove carbon dioxide from the blood in patients with severe respiratory or cardiac failure.

Advancements in Membrane Oxygenation Technology: Technological advancements have led to the development of advanced membrane oxygenators with improved efficiency, biocompatibility, and durability. These advancements include the use of innovative materials, improved gas exchange membranes, enhanced blood flow dynamics, and miniaturization of devices. The continuous development of membrane oxygenation technology drives market growth.

Increasing Number of Cardiac Surgeries: The growing number of cardiac surgeries, including coronary artery bypass grafting (CABG), valve repair or replacement, and heart transplant procedures, contributes to the demand for membrane oxygenators. These devices are used during cardiopulmonary bypass (CPB) procedures to temporarily take over the function of the heart and lungs, providing oxygenation and circulation support.

Growing Aging Population: The global aging population is more susceptible to respiratory and cardiovascular diseases, requiring advanced medical interventions and support systems. As the elderly population increases, the demand for membrane oxygenators is expected to rise to cater to their healthcare needs.

Rising Demand for Minimally Invasive Procedures: There is a growing preference for minimally invasive procedures in healthcare due to their benefits, such as reduced trauma, faster recovery, and shorter hospital stays. Membrane oxygenators are used in minimally invasive cardiac surgeries and ECMO procedures, enabling the provision of life-sustaining respiratory and circulatory support with less invasive approaches.

Technological Convergence: Membrane oxygenators are often integrated into larger medical devices and systems, such as heart-lung machines and ECMO systems. The convergence of technologies, such as medical device integration, improved monitoring capabilities, and data analytics, enhances the overall performance and functionality of membrane oxygenators, driving market growth.

Increasing Adoption of ECMO Therapy: Extracorporeal membrane oxygenation (ECMO) therapy is being increasingly used in critical care settings for patients with severe respiratory or cardiac failure. Membrane oxygenators are an essential component of ECMO systems, providing oxygenation and carbon dioxide removal outside the body. The growing adoption of ECMO therapy contributes to the demand for membrane oxygenators.

Rising Healthcare Expenditure: Increasing healthcare expenditure, both in developed and developing countries, supports the adoption of advanced medical technologies. Governments, private healthcare providers, and insurance companies allocate resources to improve critical care capabilities, including the availability of membrane oxygenators.

Improving Patient Outcomes: Membrane oxygenators play a crucial role in improving patient outcomes in critical care situations. They provide temporary life-sustaining support to patients with severe respiratory or cardiac failure, allowing time for the lungs or heart to recover or enabling them to undergo necessary interventions. The focus on improving patient outcomes drives the demand for membrane oxygenators.

Regulatory Support and Standards: Regulatory bodies and organizations provide guidelines and standards for the safety and efficacy of medical devices, including membrane oxygenators. Compliance with these regulations and standards is essential for the commercialization and use of membrane oxygenators. Regulatory support and adherence to standards drive market growth by ensuring the quality and safety of these devices.

Market Outlook:

Market Insights:

The global membrane oxygenators market is bifurcated into type, age group, application, and geography. On the basis of type, the market is further segmented into hollow fiber and flat sheet membrane oxygenators. The hollow fiber membrane oxygenators segment dominated the global market in 2020 and accounted to hold the largest market share around two-third of the market in terms of revenue.

On the basis of application, the global membrane oxygenators market is segmented into respiratory, cardiac, and ECPR. The respiratory segment dominated the market in 2020 and accounted to hold a major market share of over half of the market by revenue. The increasing prevalence of reparatory diseases is a key factor to drive the segment growth. Asthma cases are increasing globally which is another major factor to propel the segment growth. According to the latest citing by CDC, over 19 million adults are suffering from asthma in the United States.

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The membrane oxygenators comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The membrane oxygenators market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Type:

• Hollow Fiber Membrane Oxygenators
• Flat Sheet Membrane Oxygenators

By Age Group:

• Neonates
• Pediatrics
• Adults

By Application:

• Respiratory
• Cardiac
• ECPR

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, North America dominated the global membrane oxygenators market in 2020 and accounted to hold a major market share of over 40% of the market in terms of revenue. The availability of well structured healthcare infrastructure is a major factor to drive the market growth in the region. Furthermore, the rising awareness regarding oxygenators, and government funding is expected to propel the market in North America.  On the other hand, the Asia Pacific is expected to gorw at the fastest growth rate over the forecast period due to the increasing incidence of chronic diseases and rising adoption of membrane oxygenators.

Market Competition Assessment:

Some of the major players operating in the global membrane oxygenators market are Medtronic, Getinge AB, Fresenius SE & Co KGaA, MicroPort Scientific Corporation, and Terumo Medical Corporation. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Medtronic
• Getinge AB
• Fresenius SE & Co KGaA
• MicroPort Scientific Corporation
• Terumo Medical Corporation
• Nipro Medical Corporation
• Cytosorbents Corporation
• LivaNova PLC

Key Questions Answered by Membrane Oxygenators Market Report

• Global membrane oxygenators market forecasts from 2021-2027
• Regional membrane oxygenators market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Membrane oxygenators submarket forecasts from 2021-2027 covering the market by type, by age group, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to membrane oxygenators market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level membrane oxygenators markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the membrane oxygenators market