The Cardiopulmonary Bypass Equipment Market is estimated to be valued at US$ 120.01 Mn in 2023 and is expected to exhibit a CAGR of 1.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Cardiopulmonary bypass equipment is used during open heart surgery to temporarily take over the function of the heart and lungs and maintain the circulation of blood and oxygen in the body. They include oxygenators, pumps, cannulae, and accessories and are used during cardiac surgeries like coronary artery bypass grafting and heart transplant surgeries. Growing incidence of cardiovascular diseases and rising number of surgical procedures are major factors driving demand for cardiopulmonary bypass equipment.

Market key trends:
Increased incidence of cardiovascular diseases such as Coronary Artery Disease (CAD) and Congestive Heart Failure (CHF) is a major factor driving growth of the cardiopulmonary bypass equipment market. According to the Centers for Disease Control and Prevention, over 655,000 Americans die from heart diseases each year accounting for 1 in every 4 deaths in the US. This growing burden of cardiovascular diseases is increasing the number of surgical procedures performed, thus fueling demand for cardiopulmonary bypass equipment. Technological advancements are also playing a key role in aiding market growth. Manufacturers are increasingly focusing on developing innovative and user-friendly cardiopulmonary bypass equipment to overcome limitations of conventional systems and enable efficient surgical procedures.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the market requires huge capital investments and regulatory approvals. However, established players provide support in terms of installed base and brand equity.

Bargaining power of buyers: The bargaining power of buyers is high as the products are differentiated and buyers can switch between suppliers easily for desired features.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as the production of medical equipment requires expertise and technology. However, suppliers operate in a highly competitive environment.

Threat of new substitutes: The threat of substitutes is low as advanced cardiopulmonary bypass equipment has limited alternatives for cardiac and pulmonary surgeries.

Competitive rivalry: High due to the presence of global and regional players offering innovative products.

SWOT Analysis
Strength: The market is supported by the increasing prevalence of cardiac and pulmonary diseases globally. Technological advancements are enabling minimally invasive procedures.

Weakness: High costs associated with care raise the overall treatment expenditure. Product recalls hamper brand image.

Opportunity: Emerging economies provide growth prospects owing to rising healthcare expenditures. Development of portable CPB systems expands application areas.

Threats: Stringent regulatory approvals and quality standards delay product launches. Economy downturns reduce discretionary spends.

Key Takeaways
The Global Cardiopulmonary Bypass Equipment Market Size is expected to witness high growth, exhibiting CAGR of 1.7% over the forecast period, due to increasing cardiac disease burden worldwide. According to WHO, cardiovascular diseases (CVDs) account for over 17.9 Mn deaths globally each year. Growth in the aging population prone to such conditions will propel the demand for CPB devices.

Regional analysis - North America dominates the cardiopulmonary bypass equipment market currently, owing to the strong healthcare infrastructure and high patient awareness. However, Asia Pacific is projected to grow at the fastest pace during the forecast period with increasing medical tourism and investments by industry players in developing markets like China and India.

Key players operating in the cardiopulmonary bypass equipment market are Medtronic Plc, LivaNova PLC, MAQUET Holding B.V. & Co. KG., Terumo Corporation, Braile Biomedica, and Tianjin Medical. These established brands focus on new product launches and geographical expansion strategies to strengthen their market position.

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