Membrane Oxygenators Market Growth On The Basis Of Type, Application, Region & Forecast To 2028: Grand View Research Inc.

 

San Francisco, 31 October 2023: The Report Membrane Oxygenators Market Size, Share & Trends Analysis Report By Type (Hollow Fiber, Flat Sheet), By Application (Cardiac, Respiratory, ECPR), By Age Group (Neonates, Adults, Pediatrics), By Region, And Segment Forecasts, 2021 - 2028

The global membrane oxygenators market size is expected to reach USD 141.5 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 1.5% from 2021 to 2028. Key factors expected to boost the market include the growing prevalence of respiratory failures and cardiopulmonary diseases. Furthermore, there has been a rise in the number of patients suffering from COVID-19 and chronic obstructive pulmonary disease, which can require membrane oxygenators for treatment, enhancing their adoption. Technological advancements in medical devices are expected to further propel their demand in hospitals.

Leading market participants operating in this industry are focusing on developing technologically advanced membrane oxygenators. For instance, in January 2021, Terumo Medical Corporation launched the smallest, lowest prime volume, full-size adult oxygenator-Capiox NX19-with Ultraprime technology. Significant features of this device are it minimizes inflammatory response and provides higher efficiency microemboli removal. Portable adaptors and compact membrane oxygenators in ECMO circuits have also been developed, which help in the transportation of critically ill patients. The recent developments in medical devices are estimated to drive market growth.

Cardiovascular diseases are among the leading causes of death across the globe. As per the WHO, in 2016, around 17.9 million CVD-related deaths were reported globally. A membrane oxygenator is used to treat patients with cardiac and respiratory diseases. ECMO machine removes carbon dioxide and delivers oxygen in patients when the lungs and heart fail to carry out the process of blood oxygenation. Hence, the rising occurrence of cardiac and respiratory disorders is anticipated to create robust growth opportunities.

The increasing prevalence of respiratory and cardiovascular diseases, growing number of extracorporeal membrane oxygenator centers, rising adoption of membrane oxygenators as a bridge to lung transplantation are some of the major factors augmenting the market growth. In addition, training and conferences programs to increase awareness, technological advancements are anticipated to foster market growth. Membrane oxygenators were actively used in severe COVID-19 cases in the first two waves of the pandemic. The applications of membrane oxygenators are expanding rapidly.

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Membrane oxygenators are useful in providing required oxygen to a patient’s tissues. Some of the heart disorders in which membrane oxygenators are used are acute myocardial infarction, decompensated cardiomyopathy, myocarditis, sepsis, and hypothermia. The growing prevalence of cardiopulmonary disorders is anticipated to drive the demand for membrane oxygenators over the analysis period. According to WHO, about 17.5 million people succumb to cardiovascular diseases globally, which is estimated to be 31% of all deaths. The prime causes of cardiopulmonary diseases include unhealthy diet, physical inactivity, tobacco consumption, and smoking. The increasing number of cardiovascular diseases is expected to drive the demand for membrane oxygenators in pediatric, adult, and geriatric patients.

Membrane Oxygenators Market Report Highlights

• North America accounted for the largest revenue share in 2020 owing to the growing innovation in healthcare technologies, reducing healthcare expenditure, and increasing demand for membrane oxygenator devices in hospitals
• By type, the hollow fiber membrane oxygenator segment accounted for the largest revenue share in 2020, as they offer support after cardiac shock as a fast response system
• By application, the cardiac segment is expected to grow at an exponential rate over the forecast period, due to the increasing incidence of cardiac conditions such as cardiac arrest and myocardial infarction
• The neonates segment held a significant market share in 2020, due to increasing incidence of acute respiratory distress syndrome, congenital diaphragmatic hernia, air leak syndrome, respiratory failure, persistent pulmonary hypertension, and pneumonia
• The key companies focus on new product launches, strategic acquisitions, and mergers to attain a larger market share

Membrane oxygenators are also used in procedures related to pulmonary conditions, such as acute respiratory distress syndrome, COVID-19, pulmonary embolism, and influenza. Respiratory diseases include conditions such as bronchiectasis, hypersensitivity pneumonitis, lung fibrosis, asthma, Chronic Obstructive Pulmonary Disease (COPD), and lung cancer. COPD has been considered the third leading cause of death in the U.S. after cancer and cardiac diseases. According to the America Lung Association, annually, more than 11 million people are diagnosed with COPD in the U.S. Thus, a rising number of respiratory disorders cases is estimated to drive the adoption of membrane oxygenators, impelling the market growth.

Membrane Oxygenators Market Report Scope

Report Attribute	Details
Market size value in 2021	USD 127.5 million
Revenue forecast in 2028	USD 141.5 million
Growth Rate	CAGR of 1.5% from 2021 to 2028
Base year for estimation	2020
Historical data	2016 - 2021
Forecast period	2021 - 2028

Membrane oxygenators are used in treating patients suffering from chronic respiratory and cardiopulmonary diseases. They have wide applications and are used for the treatment of neonates, pediatric patients, and adults. In addition, membrane oxygenators in Extracorporeal Membrane Oxygenation (ECMO) devices provide extracorporeal life support to patients suffering from severe cardiopulmonary disorders. Membrane oxygenator has several advantages over traditional bubble oxygenator. It provides better platelet function, higher platelet numbers, and lower hemolysis as compared to bubble oxygenator perfusion. Thus, the advantages of membrane oxygenators are expected to drive overall market growth. Furthermore, after membrane oxygenator perfusion, considerably shorter bleeding time and the need for fewer transfusions of blood products have been observed.

List of Key Players of Membrane Oxygenators Market

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