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.
Key Insights & Findings:
- 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
Read 102 page market research 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“, by Grand View Research
Leading market participants operating in this industry are focusing on developing technologically advanced membrane oxygenators. For instance, in January 2019, 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.
Grand View Research has segmented the global membrane oxygenators market based on type, application, age group, and region:
- Membrane Oxygenator Type Outlook (Revenue, USD Million, 2016 – 2028)
- Hollow Fiber
- Flat Sheet
- Membrane Oxygenator Application Outlook (Revenue, USD Million, 2016 – 2028)
- Respiratory failure
- Pulmonary embolism
- Acute respiratory distress syndrome
- Acute myocardial infarction
- Post-transplant complications
- Decompensated cardiomyopathy
- Cardiogenic shock
- Membrane Oxygenator Age Group Outlook (Revenue, USD Million, 2016 – 2028)
- Membrane Oxygenator Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- North America
List of Key Players of Membrane Oxygenators Market
- Fresenius SE & Co KGaA
- Getinge AB
- Terumo Medical Corporation
- MicroPort Scientific Corporation
- Nipro Medical Corporation.
Browse through Grand View Research’s coverage of the Global Medical Devices Industry:
- India Membrane Bioreactor Market– The India membrane bioreactor market size was valued at USD 90.1 million in 2018 and is estimated to expand at a CAGR of 5.79% from 2019 to 2025
- Membrane Bioreactor Market– The global membrane bioreactor market size was valued at USD 1.81 billion in 2016. The market is expected to show significant growth over the forecast period owing to rising concerns for the wastewater treatment.
- Extracorporeal Membrane Oxygenation Machine Market– The global extracorporeal membrane oxygenation machine market size was valued at USD 202.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2028.