According to Inkwood Research, the Global Oxygenators Market is anticipated to register a CAGR of 5.47% in terms of revenue during the forecasting years of 2021-2028.
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Oxygenators are characterized as medical devices typically
used in a medical environment. They have the ability to exchange oxygen and
carbon dioxide while patients undergo surgical procedures, especially in the
case of suspension or termination of blood flow to a crucial organ or blood
vessel.
Rising Incidence
of Cardiopulmonary Disorders
The increasing prevalence of numerous cardiopulmonary
diseases is the key factor fueling the growth of the studied market. These
conditions refer to the extensive range of disorders affecting the heart and
the lungs. The growing incidence of cardiovascular diseases increases
cardiopulmonary surgical procedures as well as coronary artery bypass grafting
(CABG), thereby augmenting the demand for oxygenators. Some of the main types
of cardiopulmonary diseases include chronic obstructive pulmonary disease
(COPD), ischemic stroke, chronic bronchitis, emphysema, congestive heart
failure, cardiomyopathy, and others.
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Respiratory
is the Leading & Dominating Application
The key factor accredited to the growth of the global
oxygenators market is the mounting burden of respiratory diseases worldwide. Furthermore,
the ability of oxygenators to serve as lung substitutes during surgical
procedures and the design to expose the blood to oxygen and remove carbon
dioxide is anticipated to fuel the market growth.
Over 3.8 million individuals in Canada had asthma in 2019, according
to the annual asthma survey report. Hence, on account of the high incidence of
asthma in the country, ECMO can prove effective in terms of providing adequate
gas exchange during acute respiratory failure. Moreover, as per the report
published by the Global Initiative for Chronic Obstructive Lung Disease (COLD)
in 2019, nearly 65 million people were diagnosed with chronic obstructive
pulmonary disease (COPD). Therefore, with the increasing rate of respiratory
conditions, oxygenators are being widely used in medical operations and
utilized in concurrence with a heart-lung machine.
Asia-Pacific
to be the Fastest-Growing Region by 2028
The surging incidence of chronic conditions, such as
cardiopulmonary diseases, excessive consumption of tobacco, and the growing
awareness about oxygenators, has resulted in the increased adoption of
oxygenators across hospitals. In addition, the vast population in the
Asia-Pacific with low per capita income leads to high demand for affordable
treatment options.
Various international firms dominate the global oxygenators
market. Companies also aim to acquire a sustainable competitive edge through
innovation. They invest in projects for expanding clinical applications and
fueling product differentiation, as well. Consequently, this leads to intense
industrial rivalry among players. Getinge AB, Microport Scientific Corporation,
Medtronic PLC, Nipro Corporation, etc., are some of the leading companies
operating in the global oxygenators market.
About Inkwood Research
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relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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