Richmond, Dec. 15, 2023 (GLOBE NEWSWIRE) -- According to a research report "Centrifugal Blood Pump Market, by Application (Cardiopulmonary Bypass (CPB), Extracorporeal Life Support (ECLS), Ventricular Assist Devices (VADs), Bridge to Recovery, High-Risk Percutaneous Coronary Interventions (PCI), Short-Term Circulatory Support, Minimally Invasive Cardiac Procedures, Pediatric Cardiac Support, Hemodialysis, Blood Salvage and Auto-transfusion, Research & Development and Others), End-user (Hospitals, Specialty Clinics, Ambulatory Surgical Centers and Others) and Region.
Global Centrifugal Blood Pump Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 72.2 Million |
| Market size value in 2030 | USD 99.2 Million |
| CAGR (2023-2030) | 4.64% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Application, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Centrifugal Blood Pump Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
Market Overview
Centrifugal blood pumps are essential in medical contexts, facilitating extracorporeal bypass for cardiopulmonary circulatory support by effectively pumping blood in patients. Also known as cardiotomy suction devices, these pumps play a crucial role in the intensive care management of acute cardiac and respiratory failure. The Global Centrifugal Blood Pump Market is undergoing growth influenced by various dynamic factors. Key drivers include the increasing prevalence of cardiovascular diseases, a growing aging population, and a rising demand for minimally invasive cardiac surgical procedures. These pumps significantly contribute to improving patient outcomes and reducing healthcare costs. However, challenges such as high costs and stringent regulatory requirements may impede market expansion. Opportunities for growth arise from ongoing technological advancements, expansion into emerging markets, and the increasing adoption of telemedicine and remote patient monitoring. With industry leaders like Medtronic, Terumo Corporation, and Abbott Laboratories spearheading innovation, the market is positioned for substantial growth in the constantly evolving landscape of cardiac surgery and medical devices.
Major Vendors In The Global Centrifugal Blood Pump Market:
- MEDTRONIC PLC.
- Abbott
- Terumo Corporation
- Qura S.r.l
- Braile Biomedica Ltd.
- LivaNova, PLC
- XENIOS AG (Fresenius Medical Care Company)
- Getinge AB
- Maquet
- Senko Medical Instrument Mfg. Co., Ltd.
- Braile Biomedica Ltd.
- Eurosets
- Thoratec Corporation
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Increasing prevalence of cardiovascular diseases
The Centrifugal Blood Pump market is witnessing a notable surge in growth, largely propelled by the increasing prevalence of cardiovascular diseases. The escalating incidence of cardiac ailments has heightened the demand for advanced medical interventions, particularly those involving cardiopulmonary circulatory support. Centrifugal blood pumps play a pivotal role in addressing this surge, offering effective extracorporeal bypass solutions for patients with cardiovascular conditions. As these devices become integral in the management of cardiac and respiratory failure, their prominence in the market is further underscored by the rising need for sophisticated technologies to combat the growing burden of cardiovascular diseases worldwide. This trend not only emphasizes the critical role of centrifugal blood pumps in modern healthcare but also underscores their significance in shaping the trajectory of the market amid the escalating challenges posed by cardiovascular health.
Market Dynamics
Drivers:
- Rising demand for blood pumps in organ transplant procedures
- Growing aging population
Opportunities:
- Development of new and advanced centrifugal blood pumps
- Emergence of smart blood pumps
- Increasing use of centrifugal blood pumps in ECMO procedures
Minimally Invasive Cardiac Procedures
The Centrifugal Blood Pumps Market is distinctly focusing on Minimally Invasive Cardiac Procedures, marking a significant trend in medical progress. The growing preference for less invasive approaches in cardiac care is driving an increased demand for technologies that support such procedures. Within this landscape, centrifugal blood pumps play a vital role by providing effective cardiopulmonary circulatory support with minimal invasiveness. As the market addresses the rising need for procedures that minimize trauma and promote patient recovery, the importance of centrifugal blood pumps in facilitating these minimally invasive cardiac interventions becomes more apparent. This shift toward more patient-friendly approaches in cardiovascular care places the Centrifugal Blood Pumps Market at the forefront of innovation in the field of minimally invasive cardiac procedures.
The market for Centrifugal Blood Pump is dominated by North America.
In 2022, North America emerged as the dominant force in the market, claiming the largest share of revenue. Factors such as increased research and development spending, a growing prevalence of cardiovascular disorders, and concerted efforts by key market players to develop advanced centrifugal blood pumps in the U.S. and Canada contributed to North America's substantial market leadership. The region's technologically advanced healthcare infrastructure is expected to facilitate a higher number of treatments, driving an escalated demand for centrifugal pumps. The rising incidence of cardiovascular disorders in both the U.S. and Canada is projected to fuel the need for centrifugal blood pumps in applications such as ECMO, ventricular assistance, and cardiopulmonary bypass.
The Asia Pacific region is expected to experience rapid growth, driven by the expanding geriatric population. Notably, China, with the world's largest and fastest-aging population, is a key contributor to this trend. The demographic shift in China results from decades of declining birth rates juxtaposed with a considerable increase in life expectancy. The aging population in China is poised to present substantial challenges in the years to come. Given that the risk of Cardiovascular Disease (CVD) tends to rise with age, the elderly population is more susceptible to developing cardiac issues, thereby influencing the demand for centrifugal blood pumps in the country.
The Hospitals Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on end-user, the centrifugal blood pump market is segmented into hospitals, specialty clinics, ambulatory surgical centres and others. In 2022, the hospitals segment emerged as the market leader, securing the highest revenue share. The dominance of this segment can be attributed to the presence of state-of-the-art healthcare facilities and a proficient workforce offering extensive and high-quality cardiac treatments. The growth of this segment is further expected to be driven by a rising number of patient admissions to hospitals for cardiac disorders, contributing to an overall expansion of the market.
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