USD 239.10 million
Global Oxygenator Market Size, Share, Growth Analysis, By By Type(General Oxygenator, and ECMO Oxygenator), By By Application(Respiratory, Cardiac) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2729 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
63 |
Figures:
80
Global Oxygenator Market Insights
Global Oxygenator Market Market size was valued at USD 239.10 million in 2022 and is poised to grow from USD 252.25 million in 2023 to USD 387.13 million by 2031, at a CAGR of 5.50% during the forecast period (2024-2031).
The global oxygenator market is a critical component of the healthcare industry, primarily serving patients undergoing surgeries requiring cardiopulmonary bypass and extracorporeal membrane oxygenation (ECMO). This market overview provides insights into the key trends and factors shaping the industry. Oxygenators are medical devices designed to oxygenate and remove carbon dioxide from a patient's blood during surgical procedures or when a patient's lungs or heart are not functioning adequately. They are essential for open-heart surgeries, lung transplants, and the treatment of severe respiratory conditions.
One of the primary drivers of the global oxygenator market is the increasing prevalence of cardiovascular diseases and respiratory disorders. As the global population ages and unhealthy lifestyles become more common, the demand for cardiac surgeries and ECMO procedures rises, leading to a growing need for oxygenators. Technological advancements have significantly improved the efficiency and safety of oxygenators. Miniaturization, biocompatible materials, and improved membrane technology have enhanced their performance while reducing the risk of complications. Additionally, the COVID-19 pandemic brought renewed attention to ECMO as a treatment option for severe respiratory distress, further boosting the market.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
ECMO Oxygenator
Fastest Growth
ECMO Oxygenator
Growth Rate
5.50% CAGR
Global Oxygenator Market ($ Bn)
Country Share North America for Region (%)
Global Oxygenator Market By Type ($ Bn)
Global Oxygenator Market By Type(%)
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Global Oxygenator Market Segmental Analysis
The global oxygenator market is segmented on the basis of type, application and region. By type, the market is segmented into General Oxygenator, ECMO Oxygenator. By application, the market is segmented into respiratory, cardiac, extracorporeal cardiopulmonary resuscitation (ECPR), and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Type
In the global oxygenator market, ECMO oxygenators are increasingly dominating the global market. These devices play a critical role in extracorporeal life support systems, assisting patients with severe cardiac or respiratory failure. The dominant position of ECMO oxygenators is attributed to several factors. First, the rising prevalence of heart and lung-related diseases is driving the demand for advanced life support systems. Second, technological advancements in ECMO oxygenators, such as improved membrane materials and enhanced biocompatibility, have increased their effectiveness and safety. Lastly, the COVID-19 pandemic highlighted the importance of ECMO oxygenators in treating severe respiratory distress, further boosting their adoption.
On the other hand, the general oxygenator segment is experiencing rapid growth. General oxygenators are commonly used in cardiac surgery to temporarily replace the function of the heart and lungs during procedures like open-heart surgery. The growth in this segment is fueled by an aging population, increasing prevalence of cardiac diseases, and a growing number of cardiovascular surgeries worldwide. As healthcare infrastructure expands in developing regions, the demand for general oxygenators is expected to rise. Additionally, advancements in general oxygenator design, such as improved oxygenation efficiency and reduced blood trauma, are enhancing their appeal to healthcare providers.
Analysis By Application
In the global oxygenator market, the respiratory application segment is the dominant. Respiratory oxygenators are widely used in critical care settings, including intensive care units (ICUs), during surgeries, and in emergency medical situations. They are essential for providing life-sustaining oxygenation to patients with compromised respiratory function due to conditions such as acute respiratory distress syndrome (ARDS), pneumonia, or post-surgical recovery. The prevalence of respiratory diseases, coupled with the aging population, has contributed to the dominance of this segment. With the increasing demand for advanced respiratory support systems, respiratory oxygenators continue to be a crucial component in modern healthcare.
On the other hand, the fastest-growing segment in the global oxygenator market is Extracorporeal Cardiopulmonary Resuscitation (ECPR) application segment. ECPR involves the use of oxygenators and extracorporeal membrane oxygenation (ECMO) technology to provide cardiopulmonary support to patients in cardiac arrest or cardiogenic shock. This application has gained traction due to its effectiveness in improving survival rates for patients with severe cardiac and respiratory failure. The growth of ECPR is driven by advancements in technology, increased awareness among healthcare professionals, and the expanding use of ECMO as a rescue therapy in critical care settings. The ability of ECPR to offer extended support to patients in life-threatening situations has positioned it as a rapidly growing segment within the oxygenator market.
Global Oxygenator Market By Type, 2022 (%)
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Global Oxygenator Market Regional Insights
The global oxygenator market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America, particularly the United States, plays a dominant role in the global oxygenator market. This dominance can be attributed to several factors, including a well-established healthcare infrastructure, high healthcare expenditure, and a large aging population. Moreover, North America has a robust research and development ecosystem, leading to constant technological advancements and innovations in medical devices like oxygenators. The region also has a high prevalence of cardiovascular diseases and respiratory disorders, which necessitate the use of oxygenators during surgical procedures or as a part of life support systems.
As for the fastest growing segment, Asia-Pacific region, including countries like China, India, and Japan, is one of the fastest-growing markets for oxygenators. The growth in this region is driven by several factors, including the rising healthcare awareness, increasing healthcare investments, and a growing elderly population with chronic diseases. Additionally, improving economic conditions and healthcare infrastructure development in emerging economies have boosted the demand for advanced medical devices like oxygenators. The Asia-Pacific region is also witnessing a surge in medical tourism, leading to increased demand for medical equipment, including oxygenators, for various surgical and treatment procedures.
Global Oxygenator Market By Geography, 2024-2031
- Largest
- Fastest
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Global Oxygenator Market Dynamics
Drivers
Increasing Prevalence of Respiratory Diseases:
- The rising incidence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD), pneumonia, and acute respiratory distress syndrome (ARDS), is a significant driver of the oxygenator market. These conditions often require oxygen therapy, and oxygenators play a crucial role in delivering oxygen to patients, thereby boosting the demand for oxygenator devices.
Aging Population:
- The global population is aging, leading to a higher prevalence of age-related conditions and diseases. Elderly individuals are more prone to respiratory problems and may require oxygen therapy. As the elderly population continues to grow, the demand for oxygenators and related respiratory support devices is expected to increase, driving market growth.
Restraints
High Cost of Oxygenator Devices:
- Oxygenator devices can be expensive, especially the advanced models that come with additional features and technology. The high cost of these devices can be a significant restraint for both healthcare facilities and patients. This cost barrier can limit adoption rates, particularly in low-income regions or healthcare systems with budget constraints.
Stringent Regulatory Requirements:
- The oxygenator market is subject to strict regulatory standards and requirements to ensure the safety and efficacy of these medical devices. Complying with these regulations can be time-consuming and costly for manufacturers. Additionally, changes in regulatory requirements can lead to delays in product approvals and market entry, which can hinder market growth.
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Global Oxygenator Market Competitive Landscape
The global oxygenator market is highly competitive, with several key players vying for market share. This segment of the medical devices industry provides critical equipment for extracorporeal membrane oxygenation (ECMO) procedures and cardiopulmonary bypass surgeries. Major companies such as Medtronic plc, Terumo Corporation, LivaNova PLC, Getinge AB, and MicroPort Scientific Corporation dominate the market. These players have established themselves through extensive product portfolios, technological advancements, and global distribution networks. Innovation is a key driver in this competitive landscape. Companies are continually investing in research and development to create advanced oxygenator systems that offer improved performance, reduced risk of complications, and enhanced patient outcomes. They also focus on strategic collaborations, partnerships, and acquisitions to expand their market presence and product offerings. Regional players and emerging market entrants often target niche segments or focus on cost-effective solutions to gain a foothold in the market. However, stringent regulatory requirements and the need for quality assurance act as barriers to entry for new players. Overall, the global oxygenator market's competitive landscape is characterized by a mix of established giants, innovative startups, and regional players, with competition driven by innovation, product differentiation, and strategic partnerships.
Top Player’s Company Profile
- Medtronic (USA)
- Sorin Group (Italy)
- Armstrong Medical (UK)
- Sarstedt AG & Co. (Germany)
- O-Two Medical Technologies Inc. (Canada)
- EWM AG (Germany)
- Life Support Systems (USA)
- Terumo Corporation (Japan)
- HUM Gesellschaft für Homecare und Medizintechnik mbH (Germany)
- Oxyplus Technologies (France)
- Teleflex Incorporated (USA)
- Maquet Holding B.V. & Co. KG (Germany)
- Rontis Medical (Greece)
- Armstrong Medical Industries, Inc. (USA)
- Smiths Medical (USA)
- Hitec Medical Co., Ltd. (China)
- Getinge AB (Sweden)
- Xenia S.r.l. (Italy)
- Nipro Corporation (Japan)
- W. L. Gore & Associates, Inc. (USA)
- XENIOS AG (Germany)
- LivaNova PLC (UK)
- Edwards Lifesciences Corporation (USA)
- MicroPort Scientific Corporation (China)
- Advancing Life (USA)
Recent Developments
- In June 2023: Asahi Kasei Medical Corp. announced the launch of its new high-performance oxygenator, the Hi-Lumix OX-1000. The OX-1000 is designed to provide patients with more efficient and effective oxygen delivery, and it is expected to be especially beneficial for patients with complex medical needs.
- In July 2023: Medtronic plc received FDA approval for its new oxygenator, the Prismaflex Elite. The Prismaflex Elite is a miniaturized oxygenator that is designed to be used in small, portable devices, such as portable ECMO machines. This makes it a potential game-changer for the treatment of critically ill patients outside of the hospital setting.
- In August 2023: Xenogenics Corp. announced the launch of its new oxygenator, the XenoOxy 2.0. The XenoOxy 2.0 is a bioengineered oxygenator that is made from xenogeneic tissue. This makes it a potential alternative to traditional oxygenators, which can be associated with a number of complications.
Global Oxygenator Key Market Trends
- Technological Advancements: The oxygenator market has been witnessing significant technological advancements. Manufacturers have been investing in research and development to improve the efficiency and performance of oxygenators used in various medical applications, particularly in cardiopulmonary bypass procedures and extracorporeal membrane oxygenation (ECMO). These advancements often include the development of smaller, more portable oxygenators, which can make it easier to manage patients in different healthcare settings.
- Growing Demand for ECMO: Extracorporeal membrane oxygenation (ECMO) is a life-saving technique that provides prolonged cardiac and respiratory support to patients with severe heart or lung failure. The demand for ECMO machines and oxygenators has been on the rise, especially in critical care settings and for patients with severe respiratory conditions. The COVID-19 pandemic further underscored the importance of ECMO in treating patients with acute respiratory distress syndrome (ARDS). This trend is likely to continue as healthcare systems enhance their capabilities to manage critical patients.
Global Oxygenator Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global oxygenator market analysis, the market is an essential component of the healthcare industry, providing critical support in various medical procedures, particularly during surgeries requiring cardiopulmonary bypass. This analysis provides a succinct overview of key trends and factors influencing the market. The primary driver of the oxygenator market is the increasing prevalence of cardiovascular diseases and the growing number of cardiac surgeries. As the global population ages and lifestyles contribute to heart-related conditions, the demand for oxygenators for use in open-heart surgeries and extracorporeal membrane oxygenation (ECMO) procedures continues to rise. Technological advancements in oxygenator design and materials have improved their efficiency and safety. Miniaturization and biocompatible coatings have made oxygenators more versatile and reduced the risk of adverse reactions during prolonged use. These innovations enhance patient outcomes and expand the potential applications of oxygenators. Furthermore, the COVID-19 pandemic has spotlighted the significance of oxygenators in treating severe respiratory distress cases. ECMO therapy, which employs oxygenators, gained prominence in managing critically ill COVID-19 patients with respiratory failure, contributing to market growth. Despite these drivers, challenges such as high costs associated with oxygenator devices and limited accessibility in developing regions can hinder market expansion. Additionally, the market may face supply chain disruptions and regulatory complexities. In conclusion, the global oxygenator market is expected to experience steady growth due to the increasing prevalence of cardiac diseases, technological advancements, and the expanding application of oxygenators in critical care settings. As healthcare systems strive to enhance patient outcomes, the demand for efficient and advanced oxygenation solutions is likely to remain robust.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 239.10 million |
| Market size value in 2031 | USD 387.13 million |
| Growth Rate | 5.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Oxygenator Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Oxygenator Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Oxygenator Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Oxygenator Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Oxygenator Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Oxygenator Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Oxygenator Market Report Snapshots
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