At 3.6% CAGR, the Europe Cardiopulmonary Oxygenator Market is projected to be worth US$ 265.89 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the Europe Cardiopulmonary Oxygenator market was valued at US$ 215.48 million in 2022 and is expected to reach US$ 265.89 million by 2028, registering a CAGR of 3.6% from 2022 to 2028. Increasing Surgical Procedures with Surging in Aging Population and Rise in Incidence of Cardiopulmonary Diseases are the critical factors attributed to the Europe Cardiopulmonary Oxygenator market expansion.                    

Surgical procedures are necessary for managing health conditions such as cardiovascular diseases and lung disorders. In some medical cases, no alternative works without surgery. Per an article published in the National Center for Biotechnology Information (NCBI) in 2020, ~310 million major surgical operations are carried out each year worldwide, of which 20 million are performed in Europe. The high demand for cardiovascular surgeries can be attributed to the increase in the incidence of cardiovascular diseases in the aging population. Further, lung transplantation may be the only helpful treatment option for patients experiencing serious lung damage and non-resolving COVID-19-associated respiratory failure. Thus, with the growing number of cardiovascular and lung transplant surgeries, the demand for cardiopulmonary oxygenators is also on the rise in the region.

According to the WHO, the percentage of people aged 60 and above is estimated to reach 22% by 2050 from 12% in 2015. Cardiovascular diseases continue to be the leading cause of death among adults over the age of 65. Aging can cause changes in the heart and blood vessels, increasing the risk of developing these diseases. Therefore, the prevalence of cardiovascular diseases among geriatric populations is contributing to the growth of the cardiopulmonary oxygenators market.

On the contrary, Lack of Skilled Professionals hurdles the growth of Europe Cardiopulmonary Oxygenator market.

Based on product, the Europe Cardiopulmonary Oxygenator market is segmented into membrane oxygenator and bubble oxygenator. The membrane oxygenator segment held 91.9% market share in 2022, amassing US$ 197.92 million. It is projected to garner US$ 245.78 million by 2028 to expand at 3.7% CAGR during 2022–2028.

Based on application, the Europe Cardiopulmonary Oxygenator market is segmented into cardiac and respiratory. The cardiac segment held 67.9% market share in 2022, amassing US$ 146.22 million. It is projected to garner US$ 187.26 million by 2028 to expand at 4.2% CAGR during 2022–2028.

Based on type, the Europe Cardiopulmonary Oxygenator market is segmented into reusable cardiopulmonary oxygenators and disposable cardiopulmonary oxygenators. The reusable cardiopulmonary oxygenators segment held 91.5% market share in 2022, amassing US$ 197.11 million. It is projected to garner US$ 244.29 million by 2028 to expand at 3.6% CAGR during 2022–2028.

Based on Age Group, the Europe Cardiopulmonary Oxygenator market is segmented into adults, pediatric, and neonates. The adults segment held 71.9% market share in 2022, amassing US$ 154.89 million. It is projected to garner US$ 192.94 million by 2028 to expand at 3.7% CAGR during 2022–2028.

Based on end use, the Europe Cardiopulmonary Oxygenator market is segmented into hospitals and clinics, ambulatory surgical centers, and others. The hospitals and clinics segment held 79.8% share in North America Cardiopulmonary Oxygenator market in 2022, amassing US$ 171.87 million. It is projected to garner US$ 214.02 million by 2028 to expand at 3.7% CAGR during 2022–2028.

Based on country, the Europe Cardiopulmonary Oxygenator market has been categorized into Germany, the UK, France, Italy, Spain, and the Rest of Europe.  Our regional analysis states that Germany captured 27.8% market share in 2022. It was assessed at US$ 59.95 million in 2022 and is likely to hit US$ 75.20 million by 2028, exhibiting a CAGR of 3.8% during the forecast period.     

Key players dominating the Europe Cardiopulmonary Oxygenator market are Getinge AB; LivaNova Plc; Medtronic Plc; Terumo Corp; Eurosets SRL ; Microport Scientific Corp ; Chalice Medical Ltd; and Fresenius Medical Care AG & Co KGaA among others.   

• In Nov 2022, LivaNova Receives 510(k) Clearance for ECMO from FDA for LifeSPARC, the Next-generation Advanced Circulatory Support System .
• In May 2021, Medtronic recalls oxygenator used for cardiopulmonary bypass among kids.

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