Oxygenators MarketSize and Trends

Overview:

The global oxygenators market was valued at US$ 239.0 Mn in 2022 and is forecast to reach a value of US$ 364.0 Mn by 2030 at a CAGR of 5.5% between 2023 and 2030. The global oxygenators market is experiencing strong growth due to the rise in prevalence of cardiovascular diseases and growing geriatric population across the globe. Moreover, rise in adoption/demand for oxygenators and the outbreak of COVID-19 (pandemic) is expected to propel growth of the market. However, factors such as rise in adoption of minimally invasive procedures and stringent rules or regulations are expected to hamper the growth of the global oxygenators market.

Market Trends:

Increase in demand for membrane oxygenators is a recent trend

The demand for membrane oxygenators has increased due to their increasing adoption in coronary artery bypass graft surgery (CABG) and extracorporeal circulation for cardiopulmonary support in various surgical procedures, along with heart-lung machines, due to various advantages such as reduction of the damage of tissues and thrombosis compared to bubble oxygenators. This trend is expected continue over the forecast period, driving the market growth.

Increase in research and development is another trend

Continued research and development of the oxygenator will hopefully allow for improved cardiac surgical outcomes. Improvement of these oxygenators will also provide practitioners the ability to progress their perfusion technique. Moreover, players in the market are engaged in many research and development activities, as well as they are focusing on developing/launching technologically advanced products and technologies in the market. This trend is also expected continue during the forecast period, driving the growth of the market.