Oxygenators Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 269.22 Million |
| Market Size (2029) | USD 350.20 Million |
| CAGR (2024 - 2029) | 5.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Oxygenators Market Analysis
The Oxygenators Market size is estimated at USD 269.22 million in 2024, and is expected to reach USD 350.20 million by 2029, at a CAGR of 5.40% during the forecast period (2024-2029).
The oxygenators market is witnessing robust growth. Driven by technological advancements, a surge in cardiovascular diseases, and a growing demand for accessible critical care, these devices, essential for oxygenating blood externally, play a pivotal role in surgeries and emergency medical care.
Innovative services are making oxygenation products more accessible. The Australian government's October 2024 Kids ECMO Referral Service (KERS) launch is a prime example. Operated by the Sydney Children's Hospitals Network, KERS is designed to offer critical ECMO care to pediatric patients during transport. This initiative not only boosts patient outcomes but also underscores how new services can elevate the demand for oxygenators, especially in specialized healthcare environments.
Market players are adopting strategic measures to cater to the surging consumer demands. A focal point is the development of systems integrated with oxygenators. Highlighting this trend, LixaNova's April 2024 launch of the Essenz Perfusion System emphasizes the industry's shift towards integrated cardiac care solutions. This system is tailored for both adult and pediatric open-heart surgery patients and amalgamates vital components, thus aiding in boosting surgical efficiency and safety. Such comprehensive systems highlight the evolving sophistication of medical devices in the oxygenators market.
Heart disease prevalence significantly drives the oxygenators market. A January 2024 report from the British Heart Foundation highlights that approximately 620 million individuals worldwide, mainly in Asia, are afflicted with heart and circulatory diseases. This underscores a growing patient demographic needing oxygenation, amplifying the demand for cutting-edge technologies. With a global emphasis on cardiac care, the oxygenators market is poised for notable expansion.
Consequently, the oxygenators market is on an upward trajectory, fueled by product innovations, emerging healthcare services, and the pressing need to address cardiovascular diseases. As the healthcare landscape shifts, the market is primed for growth, offering improved solutions for both patients and providers. However, challenges persist with the high cost of products and risks associated with oxygenation systems, which have somewhat restrained growth.
Oxygenators Market Trends
Membrane Oxygenators Segment is Expected to Hold the Largest Market Share Over the Forecast Period
The membrane oxygenators segment is expanding significantly in the market. These oxygenators are pivotal in critical care, providing essential support to patients facing severe respiratory and cardiac challenges. As healthcare systems adapt to rising patient needs, advancements in membrane technology and strategic moves by leading players are propelling this segment to dominate the oxygenators market.
Cutting-edge technologies are transforming membrane oxygenators, enhancing both their effectiveness and user-friendliness. Medtronic's launch of the VitalFlow ECMO System in September 2024 was a significant milestone. The VitalFlow system boasts a large, intuitive touch screen that centralizes real-time performance data, offers configurability, and is designed for long-term performance, all while incorporating the proven Medtronic Nautilus ECMO oxygenator design. Additionally, Medtronic's acquisition of MC3 Cardiopulmonary in March 2024 brought forth the innovative VitalFlow technology, underscoring the industry's pivot toward solutions that prioritize patient outcomes and operational efficiency. The integration of Medtronic and MC3 Cardiopulmonary has produced seven new ECMO products in just eight years, indicating a promising trajectory for innovation in this field.
Clinical successes across various markets further bolster the credibility of membrane oxygenators. For instance, in July 2023, Magassist Co. Ltd. unveiled promising results from its clinical trial for its ECMO system, Breathmo, in China. Targeting patients with severe heart or lung failures, the clinical trial affirmed Breathme's dual capability in providing pulmonary and cardiac support. Such endorsements validate the devices and boost their adoption in medical settings.
Recognizing the rising demand for ECMO technology, efforts are underway to introduce ECMO programs in areas with limited access. A case in point is UT Health East Texas, which rolled out its ECMO program in October 2024, marking it as the region's inaugural provider of this critical treatment. This initiative alleviates the previous challenge where patients had to journey to far-off hospitals for ECMO care. UT Health East Texas's dedication, evident in its investments in equipment, staff training, and a collaborative approach with multidisciplinary physicians, mirrors a broader movement to enhance ECMO services. Such expansions are poised to boost the demand for membrane oxygenators.
With technological advancements, encouraging clinical results, and broader access to critical care, the membrane oxygenators segment is on track to dominate the oxygenators market. Innovations like Medtronic's VitalFlow ECMO System and the establishment of ECMO programs in previously underserved areas highlight the segment's growth potential. Given the rising incidence of cardiovascular and respiratory ailments and healthcare's commitment to advanced technologies, the membrane oxygenators segment is primed for success, significantly contributing to global patient care and outcomes.
North America is Expected to Hold Major Market Share Over the Forecast Period
Driven by technological advancements, a rising prevalence of respiratory and cardiovascular diseases, and an increasing demand for homecare respiratory solutions, the North American oxygenators market is poised for significant growth. With healthcare providers and manufacturers continuously enhancing their offerings, North America is set to dominate the market share throughout the forecast period.
Technological innovations are central to the expansion of the North American oxygenators market. In April 2023, Abbott secured two FDA clearances for its CentriMag life-support system. This approval permits extended use of its blood pump for adults on extracorporeal membrane oxygenation (ECMO). Such endorsements highlight the increasing acknowledgment of the necessity for prolonged life-support solutions, granting physicians essential time to evaluate and decide on patient care. These regulatory milestones pave the way for innovative products, broadening treatment avenues for patients facing severe cardiovascular challenges.
Despite the positive market outlook, challenges such as supply shortages are impacting growth. In October 2023, the FDA highlighted this concern by adding oxygenators to its medical device shortages list. Such gaps in availability can jeopardize timely treatment for patients urgently needing oxygenation, casting a shadow on the market's advancements. To sustain growth momentum, manufacturers and healthcare providers must tackle these supply chain challenges, ensuring a steady availability of oxygenators.
While the North American oxygenators market is set to retain a dominant share, driven by innovation, regulatory backing, and a rising disease prevalence, addressing challenges like the inherent risks associated with oxygenation systems is imperative. As the healthcare landscape shifts, North America stands as a pivotal player in the global oxygenators arena, ready to lead in both innovation and accessibility.
Oxygenators Industry Overview
The oxygenators market is semi-consolidated and consists of several major players. Few of the key players are launching new products with advanced technologies to compete with the existing products, while others are acquiring and partnering with other companies trending in the market. Some of the companies dominating the market are EUROSETS SRL, Getinge AB, Livanova PLC., Medtronic, and Terumo Medical Corporation.
Oxygenators Market Leaders
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EUROSETS
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Getinge AB
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Livanova Plc
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Medtronic
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Terumo Medical Corporation
*Disclaimer: Major Players sorted in no particular order
Oxygenators Market News
- October 2024: Chalice Medical, Inc. reported that Maimonides Medical Center in Brooklyn, New York, was one of the first hospitals in the United States to implement the cutting-edge CMO8 oxygenator.
- September 2024: Inspira Technologies OXY B.H.N. Ltd. secured a U.S. Patent for its innovative VORTX orbiting blood oxygenation delivery system. Designed to oxygenate blood without using fiber membranes, the VORTX system promises to revolutionize the medical field by potentially minimizing blood damage and associated costs.
Oxygenators Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Global Prevalence of Cardiopulmonary Disorders
4.2.2 Increasing Geriatric Population
4.2.3 Availability of Technologically Advanced Products and Reimbursement Policies
4.3 Market Restraints
4.3.1 Adoption of Minimally Invasive Procedures and Risks Associated with Oxygenation Systems
4.3.2 Stringent FDA Regulations
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Product Type
5.1.1 Bubble Oxygenator
5.1.2 Membrane Oxygenator
5.2 By Application
5.2.1 Respiratory
5.2.2 Cardiac
5.2.3 Extracorporeal Cardiopulmonary Resuscitation (ECPR)
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Braile Biomedica
6.1.2 Chalice Medical Ltd
6.1.3 EUROSETS SRL
6.1.4 Gen World Medical Devices
6.1.5 Getinge AB
6.1.6 Livanova PLC
6.1.7 Medtronic
6.1.8 Microport Scientific Corporation
6.1.9 Nipro Medical Corporation
6.1.10 Owgels Group
6.1.11 Senko Medical Instrument Mfg Co. Ltd (MERA)
6.1.12 Terumo Medical Corporation
6.1.13 Xenios AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Oxygenators Industry Segmentation
An oxygenator is an essential medical device routinely used along with a heart-lung machine to facilitate the exchange of gases as a substitute for lungs during surgical procedures that may necessitate the interruption or cessation of blood flow in the body, heart, lungs, or blood vessels, like aorta, pulmonary artery, or vena cava. These devices are majorly used in cardiopulmonary surgeries and coronary artery bypass grafting (CABG) procedures.
The oxygenators market is segmented by product type, application, and geography. By product type, the market is segmented into bubble oxygenators and membrane oxygenators. By application, the market is segmented into respiratory, cardiac, and extracorporeal cardiopulmonary resuscitation [ECPR]. By geography, the market is segmented by North America, Europe, Asia-Pacific, Middle-East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the market size and forecasts in value (USD) for the above segments.
| By Product Type | |
| Bubble Oxygenator | |
| Membrane Oxygenator |
| By Application | |
| Respiratory | |
| Cardiac | |
| Extracorporeal Cardiopulmonary Resuscitation (ECPR) |
| Geography | ||||||||
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Oxygenators Market Research FAQs
How big is the Oxygenators Market?
The Oxygenators Market size is expected to reach USD 269.22 million in 2024 and grow at a CAGR of 5.40% to reach USD 350.20 million by 2029.
What is the current Oxygenators Market size?
In 2024, the Oxygenators Market size is expected to reach USD 269.22 million.
Who are the key players in Oxygenators Market?
EUROSETS, Getinge AB, Livanova Plc, Medtronic and Terumo Medical Corporation are the major companies operating in the Oxygenators Market.
Which is the fastest growing region in Oxygenators Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Oxygenators Market?
In 2024, the North America accounts for the largest market share in Oxygenators Market.
What years does this Oxygenators Market cover, and what was the market size in 2023?
In 2023, the Oxygenators Market size was estimated at USD 254.68 million. The report covers the Oxygenators Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Oxygenators Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Oxygenators Industry Report
The Global Oxygenator Manufacturers market is segmented by product type, including bubble oxygenators and membrane oxygenators, as well as by application, covering respiratory, cardiac, and extracorporeal cardiopulmonary resuscitation (ECPR). The report offers a comprehensive market analysis, providing insights into market trends, market growth, and market segmentation across various regions such as North America, Europe, Asia-Pacific, Middle-East and Africa, and South America. The market share and market size are presented in terms of USD million for the respective segments.
The industry report includes an industry overview and a detailed industry analysis, highlighting key industry statistics and industry trends. The report also features a market forecast, offering a market outlook and market predictions up to the forecast period. The industry research provides valuable industry information and industry sales data, which are essential for understanding the market dynamics and growth rate.
Furthermore, the report includes an industry outlook and market review, examining the market leaders and their market value. The report example and report PDF are available for download, providing a detailed market overview and market data. This industry research is crucial for research companies looking to gain insights into the oxygenator market. The report also highlights the market segmentation and market value, offering a comprehensive market forecast and industry reports.
