Global Cardiopulmonary Devices Market Overview
The global cardiopulmonary devices market, valued at $2.8 billion in 2021, is projected to grow at a CAGR of 5% through 2026. Growth is primarily driven by the rising geriatric population, increasing incidence of cardiopulmonary diseases, higher demand for these devices during and after the Covid-19 pandemic, and expansion of ECMO centers worldwide. Additionally, greater awareness of cardiopulmonary technologies and a surge in complex cardiac surgeries are accelerating market growth. However, the limited availability of trained perfusionists, particularly in developed regions such as the U.S., remains a key challenge.
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Overview of Cardiopulmonary Devices and Applications
Cardiopulmonary diseases encompass a wide range of conditions affecting both the heart and lungs. Cardiopulmonary devices include heart-lung machines (HLM), percutaneous ventricular assist devices (PVAD), extracorporeal membrane oxygenation (ECMO), and autotransfusion systems (ATS). These technologies are utilized in cardiac and pulmonary surgeries, congenital defect repairs, cardiopulmonary bypass operations, cardiogenic shock management, respiratory failure cases, joint replacement surgeries, aneurysm and transplant procedures, and several other clinical settings.
Favorable Impact of Covid-19 on Market Growth
Although the Covid-19 pandemic disrupted many healthcare sectors, it had a positive impact on the cardiopulmonary devices market. As the virus caused severe respiratory failure in certain patients, the demand for ECMO systems surged, as these devices provided critical life support for both the heart and lungs. The widespread use of ECMO during the pandemic led to heightened awareness, increased installations of new ECMO centers, and significant market expansion.
Supportive Regulatory Policies Accelerating Adoption
Regulatory bodies played a crucial role in fostering market growth during the pandemic. In April 2020, the U.S. FDA allowed manufacturers of cardiopulmonary bypass systems to extend indications for use to include ECMO therapy beyond six hours without prior premarket notification. This regulatory flexibility boosted sales and expanded access to advanced cardiopulmonary support systems. According to the Director of Mechanical Circulatory Support & ECMO at a leading U.S. hospital, ECMO proved to be a lifesaving technology for hundreds of Covid-19 patients.
Technological Advancements Driving Innovation
The cardiopulmonary devices market continues to evolve with constant technological innovation. In April 2022, LivaNova launched the Essenz™ Patient Monitor, a next-generation monitoring system designed to enhance clinical precision and efficiency during cardiopulmonary bypass procedures. Similarly, in January 2021, Eurosets introduced the ECMOlife system for extracorporeal life support, expanding its portfolio for treating patients requiring temporary cardiac or respiratory support.
Strategic Developments Strengthening Market Presence
The competitive landscape is characterized by continuous mergers, acquisitions, and product launches aimed at enhancing market share and product portfolios. In February 2022, Getinge acquired Talis Clinical LLC, strengthening its position in critical care and ECMO therapy software solutions. In October 2021, MicroPort acquired Hemovent GmbH, known for its innovative extracorporeal life support systems. Additionally, in April 2020, Abiomed expanded its offerings by acquiring Breethe, a developer of portable ECMO systems, complementing its Impella heart pump technology.
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Future Outlook and Competitive Landscape
The cardiopulmonary devices market is set for sustained growth driven by increasing cardiovascular and respiratory disease cases, technological advancements, and the aging global population. Key players dominating the market include LivaNova, Getinge, Terumo, Medtronic, Abbott, Abiomed, Haemonetics, and Fresenius. These companies continue to invest in innovation and strategic collaborations to meet the growing global demand for advanced cardiopulmonary solutions.
About Medi-Tech Insights
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.
