The global cardiopulmonary products market size was estimated to be USD 472.50 million in 2023 and is expected to reach at USD 884.92 million by 2033 with a CAGR of 5.87% during the forecast period 2024-2034. Rising prevalence of cardiovascular & pulmonary disorders, increasing technological advancements, growing launch of cardiopulmonary products, surge in demand for coronary artery treatment, rising focus on development of cutting-edge technologies, increase in transplant procedures, growing demand for effective cardiac surgery devices, and surge in approval of cardiopulmonary devices by regulatory bodies are some of the key factors boosting the market growth.
Surge in approval of cardiopulmonary devices by regulatory bodies is predicted to boost the market growth during the forecast period. Cardiopulmonary devices now offer a wider range of indications and are being developed using cutting-edge technology. Due to this, a greater proportion of patients are now being treated using cardiopulmonary devices. For instance, in March 2023 LivaNova PLC, a prominent player in the medical technology and innovation sector, has received FDA 510(k) approval for its Essenz Heart-Lung Machine (HLM). Additionally, Health Canada and the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) have recently granted approval for the Essenz HLM.
By product, heart-lung machines (HLM) was the highest revenue-grossing segment in the global cardiopulmonary products market in 2023 owing to increasing technological advancements, growing launch of heart-lung machine products. Additionally, Extracorporeal membrane oxygenation (ECMO) is predicted to grow at fastest CAGR during the forecast period owing to the growing technological advancements and surge in new product launches. For instance, in July 2022, The Liby System, also known as Extracorporeal Membrane Oxygenation (ECMO), is a cutting-edge life support system developed by Inspira Technologies OXY B.H.N. Ltd. This system is employed to address severe heart and lung failure in patients facing life-threatening conditions. The Liby System, developed by Inspira Technologies, represents a next-generation ECMO system, offering potential advantages that may enhance both usability and patient care.
By indication, cardiac surgeries was the highest revenue-grossing segment in the global cardiopulmonary products market in 2023 owing to surge in prevalence of heart surgeries in hospitals, rising demand for cutting-edge technology, increasing prevalence of cardiac disorders, and growing initiatives by major market players. For instance, in September 2022, GE Healthcare has unveiled the Optima IGS 320, an AI-powered Cath lab that is the first of its kind to be manufactured in India. This development aims to enhance cardiac care in the country and is the result of a new factory launched by Wipro GE Healthcare in Bengaluru, as part of the production linked incentive (PLI) scheme. The Cath lab utilizes GE's proprietary auto right technology. Additionally, Pulmonary surgeries is predicted to grow at fastest CAGR during the forecast period owing to the growing number of pulmonary surgeries, surge in transplant procedures, and increasing new product launch for diagnosing & treating cardiopulmonary disorders.
By end-user, hospitals was the highest revenue-grossing segment in the global cardiopulmonary products market in 2023 owing to growing number of cardiac surgeries performed within hospitals, rising improvement in quality of treatment & surgeries, and increasing funding by leading market players. For instance, in May 2023, Magenta Medical, an Israeli company specializing in the development of the smallest heart pump globally, has successfully secured $55 million in funding. The investment was spearheaded by OrbiMed and joined by New Enterprise Associates, Pitango, and Alive Israel HeathTech Fund. These extra funds will primarily support the MedTech company's efforts to obtain FDA clearance for their flagship product, Elevate, a percutaneous left ventricular assist device. Additionally, Ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to the rising adoption of advanced technologies and surge in prevalence of cardiac disorders.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing prevalence of cardiovascular disorders, increasing demand for organ transplantation, rising launch of new products. For instance, in April 2023, Abbott has obtained two more FDA clearances for its highly advanced life support system. The CentriMag Blood Pump, which is used in conjunction with the CentriMag System, has now been granted certification for extended use in adults when Extracorporeal Membrane Oxygenation (ECMO) is vital to preserving the lives of individuals with heart and lung dysfunction. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of cardiovascular disorders, surge in medical tourism, growing technological advancements, increasing mergers & acquisitions within market players, and rising launch of advanced s. For instance, in July 2023, Heartnet India, a startup headquartered in Bengaluru, has introduced Asaan, an innovative telecardiology product. This IoT-based solution is set to revolutionize cardiac healthcare in India by enabling doctors to conduct cardiac health assessments in their clinics using technology and expert guidance.
Surge in approval of cardiopulmonary devices by regulatory bodies is predicted to boost the market growth during the forecast period. Cardiopulmonary devices now offer a wider range of indications and are being developed using cutting-edge technology. Due to this, a greater proportion of patients are now being treated using cardiopulmonary devices. For instance, in March 2023 LivaNova PLC, a prominent player in the medical technology and innovation sector, has received FDA 510(k) approval for its Essenz Heart-Lung Machine (HLM). Additionally, Health Canada and the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) have recently granted approval for the Essenz HLM.
By product, heart-lung machines (HLM) was the highest revenue-grossing segment in the global cardiopulmonary products market in 2023 owing to increasing technological advancements, growing launch of heart-lung machine products. Additionally, Extracorporeal membrane oxygenation (ECMO) is predicted to grow at fastest CAGR during the forecast period owing to the growing technological advancements and surge in new product launches. For instance, in July 2022, The Liby System, also known as Extracorporeal Membrane Oxygenation (ECMO), is a cutting-edge life support system developed by Inspira Technologies OXY B.H.N. Ltd. This system is employed to address severe heart and lung failure in patients facing life-threatening conditions. The Liby System, developed by Inspira Technologies, represents a next-generation ECMO system, offering potential advantages that may enhance both usability and patient care.
By indication, cardiac surgeries was the highest revenue-grossing segment in the global cardiopulmonary products market in 2023 owing to surge in prevalence of heart surgeries in hospitals, rising demand for cutting-edge technology, increasing prevalence of cardiac disorders, and growing initiatives by major market players. For instance, in September 2022, GE Healthcare has unveiled the Optima IGS 320, an AI-powered Cath lab that is the first of its kind to be manufactured in India. This development aims to enhance cardiac care in the country and is the result of a new factory launched by Wipro GE Healthcare in Bengaluru, as part of the production linked incentive (PLI) scheme. The Cath lab utilizes GE's proprietary auto right technology. Additionally, Pulmonary surgeries is predicted to grow at fastest CAGR during the forecast period owing to the growing number of pulmonary surgeries, surge in transplant procedures, and increasing new product launch for diagnosing & treating cardiopulmonary disorders.
By end-user, hospitals was the highest revenue-grossing segment in the global cardiopulmonary products market in 2023 owing to growing number of cardiac surgeries performed within hospitals, rising improvement in quality of treatment & surgeries, and increasing funding by leading market players. For instance, in May 2023, Magenta Medical, an Israeli company specializing in the development of the smallest heart pump globally, has successfully secured $55 million in funding. The investment was spearheaded by OrbiMed and joined by New Enterprise Associates, Pitango, and Alive Israel HeathTech Fund. These extra funds will primarily support the MedTech company's efforts to obtain FDA clearance for their flagship product, Elevate, a percutaneous left ventricular assist device. Additionally, Ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to the rising adoption of advanced technologies and surge in prevalence of cardiac disorders.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing prevalence of cardiovascular disorders, increasing demand for organ transplantation, rising launch of new products. For instance, in April 2023, Abbott has obtained two more FDA clearances for its highly advanced life support system. The CentriMag Blood Pump, which is used in conjunction with the CentriMag System, has now been granted certification for extended use in adults when Extracorporeal Membrane Oxygenation (ECMO) is vital to preserving the lives of individuals with heart and lung dysfunction. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of cardiovascular disorders, surge in medical tourism, growing technological advancements, increasing mergers & acquisitions within market players, and rising launch of advanced s. For instance, in July 2023, Heartnet India, a startup headquartered in Bengaluru, has introduced Asaan, an innovative telecardiology product. This IoT-based solution is set to revolutionize cardiac healthcare in India by enabling doctors to conduct cardiac health assessments in their clinics using technology and expert guidance.
Segmentation: Cardiopulmonary Products Market Report 2022 - 2033
Cardiopulmonary Products Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Mn)
- Extracorporeal Membrane Oxygenation (ECMO)
- Heart-Lung Machines (HLM)
- Autotransfusion (ATS)
- Percutaneous Ventricular Assist Devices (PVAD)
Cardiopulmonary Products Market Analysis & Forecast by Indication 2023 - 2034 (Revenue USD Mn)
- Congenital Defects
- Cardiac Surgeries
- Transplants
- Pulmonary Surgeries
- Joint Replacement Surgeries
- Cardiopulmonary Bypass Procedures
- Aneurysm Surgeries
- Cardiogenic Shock/Respiratory Failure
- Others
Cardiopulmonary Products Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Mn)
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
Cardiopulmonary Products Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Mn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Cardiopulmonary Products Market: Product Estimates & Trend Analysis
8. Cardiopulmonary Products Market: Indication Estimates & Trend Analysis
9. Cardiopulmonary Products Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Cardiopulmonary Products Market
12. Europe Global Cardiopulmonary Products Market
13. Asia Pacific Global Cardiopulmonary Products Market
14. Latin America Global Cardiopulmonary Products Market
15. MEA Global Cardiopulmonary Products Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- LivaNova PLC
- Nipro
- Medtronic Plc
- Terumo Corp
- Welch Allyn
- Getinge AB
- Braile Biomedica Ltd
- Fresenius SE & Co. KGaA
- Senko Medical Instrument Manufacturing Co Ltd
- Schiller Americas Inc.
- Technowood Corp
- Abiomed Inc.
- Abbott Laboratories.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 472.5 Million |
| Forecasted Market Value ( USD | $ 884.92 Million |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
