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Artificial Heart-Lung Machine Market to Witness Exponential Growth by 2020
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Artificial heart-lung machine refers to a medical device that is used for temporarily diverting the flow of blood, oxygenating it and pumping the oxygenated blood into the body. An artificial heart-lung machine comprises of a pump and an oxygenator for performing its function. Artificial heart-lung machine is especially used during open heart surgery. The global artificial heart-lung machine market is growing at a significant rate due to increasing number of cardiovascular surgeries and technological advancements in the field. In addition, growing awareness in the field and government initiatives in improving the healthcare facilities are helping in increasing the global market for the artificial heart-lung machine market.
North America dominates the global market for artificial heart-lung machine due to high prevalence of heart problems and aging population in the region. In addition, technological advancement in the field is driving the artificial heart-lung machine market in North America. Asia, followed by Europe, is expected to show high growth rate in next few years in global artificial heart-lung machine market.
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China and India are expected to be the fastest growing artificial heart-lung machine markets in Asian region. Some of the key driving forces for artificial heart-lung machine market in emerging countries are increasing large pool of patients in these regions. In addition, rising government funding and growing awareness in the field is driving the artificial heart-lung machine market in these regions.
Some of the major factors driving global artificial heart-lung machine market are increasing prevalence for heart diseases, rising awareness about the different cardiovascular devices available and growing government initiatives in the field. In addition, technological advancements and improvement in the healthcare facilities are driving the artificial heart-lung machine market. However, less lifecycle of the product is restraining the global artificial heart-lung machine market. In addition, lack of skilled medical professional for properly operating the device is restraining the global artificial heart-lung machine market.
Growing demographics and economies in the developing countries hold a great potential for growth of artificial heart-lung machine market. In addition, innovation of artificial heart-lung machines with improved features and lifecycle are expected to offer good opportunities for artificial heart-lung machine market. One of the latest trends that have been observed in the artificial heart-lung machine market includes the companies involved in R&D of new products with improved features.
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Some of the major companies dealing in artificial heart-lung machine market are Medtronic Inc., Sorin Group and MAQUET GmbH & Co. KG. Some other companies having significant presence in artificial heart-lung machine market are Terumo Corporation, C. R. Bard Inc. and Edwards Lifesciences.
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