Heart-lung machines market size to grow by USD 195.04 million from 2022 to 2027; Growth driven by increased medical tourism in Asia - Technavio

NEW YORK, May 3, 2023 /PRNewswire/ -- The heart-lung machines market size is set to grow by USD 195.04 million between 2022 and 2027 and register a CAGR of 3.89%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. View a Sample Report

The increased medical tourism in Asia, the increase in the number of ASCs, and awareness initiatives by organizations will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Heart-lung Machines Market 2023-2027: Segmentation

• End-user 
• Hospitals
• ASCs
• Application 
• Heart Surgery
• Heart Failure
• Lung Surgery
• Geography 
• North America
• Europe
• Asia
• Rest Of World (ROW)

By end-users, the market growth in the hospitals segment will be significant over the forecast period. Hospitals engage closely with many suppliers and procure medical products and consumables in bulk at low prices. Factors such as increasing patient pool, rising healthcare expenditure, the use of advanced and sophisticated equipment, and the availability of skilled healthcare professionals are some of the major factors driving the growth of the segment. The increasing number of hospitals is another major factor driving the growth of the segment.

North America will account for 36% of the market growth during the forecast period. The growth of the regional market can be attributed to factors such as the rising incidences and prevalence of CVDs, the rise in the number of surgical procedures for CVDs, and increasing healthcare expenditure. In addition, technological advances, the expansion of the geriatric population, and the strong presence of prominent vendors drive the growth of the heart-lung machines market in North America.

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Heart-lung Machines Market 2023-2027: Vendor Analysis and Scope

The global heart-lung machines market is fragmented, with the presence of several players. Prominent vendors hold the major market revenue. These vendors are focused on R&D activities to develop advanced, innovative products, and strengthen their product portfolios. Global vendors have already established a strong foothold in diversified geographies across the world with their comprehensive range of products. Key vendors are trying to establish a strong customer base by selling and distributing their products around the world through several online and direct retail channels to remain competitive and gain significant market revenue. They compete in the market in terms of brand, quality, and unique features. Some of the key vendors covered in the report include:

• Braile Biomedica - The company offers heart-lung machines such as Centripump Centrifugal Pump Module and Sapphire Centriflux Centrifugal Pump.
• Edwards Lifesciences Corp. - The company offers heart-lung machines such as 120404FFP, 120807FP, and 120403FP.
• ELITE LIFECARE - The company offers heart-lung machines such as Cardioplegia Delivery System and Membrane Oxygenator.
• Eurosets Srl - The company offers heart-lung machines such as KOMPASS, SVR2000, and HORIZON.
• Fresenius Medical Care AG and Co. KGaA
• Getinge AB
• Heart Care India Co.
• Hemovent GmbH
• Jarvik Heart Inc.
• Koninklijke Philips NV
• LivaNova Plc
• Medtronic Plc
• Nipro Corp.
• Palex Medical SA
• RAUMEDIC AG

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The report also covers the following areas:

• Heart-Lung Machines Market Size
• Heart-Lung Machines Market Trends
• Heart-Lung Machines Market Analysis

Heart-lung Machines Market 2023-2027: Market Dynamics

• Driver – The market is driven by increased medical tourism in Asia. The increase in healthcare expenditure, rising number of hospitals, availability of skilled medical professionals, and low cost of healthcare services are attracting a significant number of people from overseas to travel to Asian countries. Treatment procedures in these countries cost less than in developed countries such as the UK, the US, and Canada. For instance, the cost of CABG surgery ranges between USD 50,000 and USD 75,000 in the US, whereas the same surgery, including direct and indirect medical expenses, can cost around USD 10,000 in India. Such factors have led many people to travel to Asian countries for treating medical conditions, which is expected to drive the market growth over the forecast period.
• Trend – The advent of portable heart-lung machines is identified as the key trend in the market. Unlike conventional heart-lung machines, portable heart-lung machines are compact and occupy less space. Portable heart-lung machines can operate on a rechargeable battery and can be transported to any part of the hospital. They help healthcare professionals to provide extracorporeal circulation to patients who are in a critical stage during an emergency, either in an ambulatory setting or in operating rooms. The growing popularity of portable heart-lung machines has encouraged vendors to focus on innovation to integrate advanced features. This trend will positively influence the growth of the market during the forecast period.
• Challenge – Complications associated with CABG surgeries will challenge the market growth. In coronary artery bypass graft (CABG) surgery, the heart-lung machine is used for blood transportation as the physician stops the heart. When the blood passes through PVC tubes, it gets in contact with artificial compounds. This could result in post-surgical complications such as infection, arrhythmia, kidney stress, and the release of cytokines, causing irritation and inflammation. In some cases, patients who undergo heart bypass surgery might experience long-term memory loss and cognitive problems, which are considered the after-effects of using heart-lung machines. Such complications will hinder the adoption of heart-lung machines, thereby negatively affecting market growth.

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Heart-lung Machines Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist heart-lung machines market growth during the next five years
• Estimation of the heart-lung machines market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the heart-lung machines market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of heart-lung machines market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global heart-lung machines market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global heart-lung machines market 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Hospitals - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Hospitals - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Hospitals - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Hospitals - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)

• 6.4 ASCs - Market size and forecast 2022-2027 
• Exhibit 38: Chart on ASCs - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on ASCs - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on ASCs - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on ASCs - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by End-user 
• Exhibit 42: Market opportunity by End-user ($ million)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 43: Chart on Application - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 45: Chart on Comparison by Application
• Exhibit 46: Data Table on Comparison by Application

• 7.3 Heart surgery - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Heart surgery - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Heart surgery - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Heart surgery - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Heart surgery - Year-over-year growth 2022-2027 (%)

• 7.4 Heart failure - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Heart failure - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Heart failure - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Heart failure - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Heart failure - Year-over-year growth 2022-2027 (%)

• 7.5 Lung surgery - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Lung surgery - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Lung surgery - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Lung surgery - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Lung surgery - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Application 
• Exhibit 59: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 Asia - Market size and forecast 2022-2027 
• Exhibit 73: Chart on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Asia - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Asia - Year-over-year growth 2022-2027 (%)

• 9.6 Rest of World (ROW) - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

• 9.7 US - Market size and forecast 2022-2027 
• Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.8 Germany - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 France - Market size and forecast 2022-2027 
• Exhibit 93: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 Axiomtek
• Exhibit 108: Axiomtek - Overview
• Exhibit 109: Axiomtek - Product / Service
• Exhibit 110: Axiomtek - Key offerings

• 12.4 Braile Biomedica
• Exhibit 111: Braile Biomedica - Overview
• Exhibit 112: Braile Biomedica - Product / Service
• Exhibit 113: Braile Biomedica - Key offerings

• 12.5 Edwards Lifesciences Corp. 
• Exhibit 114: Edwards Lifesciences Corp. - Overview
• Exhibit 115: Edwards Lifesciences Corp. - Business segments
• Exhibit 116: Edwards Lifesciences Corp. - Key offerings
• Exhibit 117: Edwards Lifesciences Corp. - Segment focus

• 12.6 ELITE LIFECARE
• Exhibit 118: ELITE LIFECARE - Overview
• Exhibit 119: ELITE LIFECARE - Product / Service
• Exhibit 120: ELITE LIFECARE - Key offerings

• 12.7 Eurosets Srl
• Exhibit 121: Eurosets Srl - Overview
• Exhibit 122: Eurosets Srl - Product / Service
• Exhibit 123: Eurosets Srl - Key offerings

• 12.8 Fresenius Medical Care AG and Co. KGaA 
• Exhibit 124: Fresenius Medical Care AG and Co. KGaA - Overview
• Exhibit 125: Fresenius Medical Care AG and Co. KGaA - Business segments
• Exhibit 126: Fresenius Medical Care AG and Co. KGaA - Key news
• Exhibit 127: Fresenius Medical Care AG and Co. KGaA - Key offerings
• Exhibit 128: Fresenius Medical Care AG and Co. KGaA - Segment focus

• 12.9 Getinge AB
• Exhibit 129: Getinge AB - Overview
• Exhibit 130: Getinge AB - Business segments
• Exhibit 131: Getinge AB - Key news
• Exhibit 132: Getinge AB - Key offerings
• Exhibit 133: Getinge AB - Segment focus

• 12.10 Heart Care India Co.
• Exhibit 134: Heart Care India Co. - Overview
• Exhibit 135: Heart Care India Co. - Product / Service
• Exhibit 136: Heart Care India Co. - Key offerings

• 12.11 Hemovent GmbH
• Exhibit 137: Hemovent GmbH - Overview
• Exhibit 138: Hemovent GmbH - Product / Service
• Exhibit 139: Hemovent GmbH - Key offerings

• 12.12 Jarvik Heart Inc.
• Exhibit 140: Jarvik Heart Inc. - Overview
• Exhibit 141: Jarvik Heart Inc. - Product / Service
• Exhibit 142: Jarvik Heart Inc. - Key offerings

• 12.13 LivaNova Plc
• Exhibit 143: LivaNova Plc - Overview
• Exhibit 144: LivaNova Plc - Business segments
• Exhibit 145: LivaNova Plc - Key offerings
• Exhibit 146: LivaNova Plc - Segment focus

• 12.14 Medtronic Plc
• Exhibit 147: Medtronic Plc - Overview
• Exhibit 148: Medtronic Plc - Business segments
• Exhibit 149: Medtronic Plc - Key news
• Exhibit 150: Medtronic Plc - Key offerings
• Exhibit 151: Medtronic Plc - Segment focus

• 12.15 Nipro Corp.
• Exhibit 152: Nipro Corp. - Overview
• Exhibit 153: Nipro Corp. - Business segments
• Exhibit 154: Nipro Corp. - Key offerings
• Exhibit 155: Nipro Corp. - Segment focus

• 12.16 SONOTEC GmbH
• Exhibit 156: SONOTEC GmbH - Overview
• Exhibit 157: SONOTEC GmbH - Product / Service
• Exhibit 158: SONOTEC GmbH - Key offerings

• 12.17 Terumo Group
• Exhibit 159: Terumo Group - Overview
• Exhibit 160: Terumo Group - Business segments
• Exhibit 161: Terumo Group - Key news
• Exhibit 162: Terumo Group - Key offerings
• Exhibit 163: Terumo Group - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 164: Inclusions checklist
• Exhibit 165: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 166: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 167: Research methodology
• Exhibit 168: Validation techniques employed for market sizing
• Exhibit 169: Information sources

• 13.5 List of abbreviations 
• Exhibit 170: List of abbreviations

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