Cardiopulmonary products restore the functions of the heart and lungs. The global cardiopulmonary products market is primarily driven by the increasing geriatric population and the rising prevalence of cardiovascular diseases. According to the Centers for Disease Control and Prevention (CDC), coronary heart disease accounts for 370,000 deaths in the U.S. each year. Lifestyle habits such as smoking, rising incidence of obesity, and dietary irregularities are responsible for the growth in prevalence of cardiovascular disease globally. Moreover, there has been an unprecedented growth in the global geriatric population.

Cardiopulmonary products Market – Competitive Landscape

The global cardiopulmonary products market comprises large and mid-size vendors. Key players in this market include Medtronic Plc, Smiths Medical, MAQUET Holding B.V. & Co. KG, Terumo Corporation, LivaNova PLC, MEDIVATORS Inc., Braile Biomédica, Palex Medical SA, and others. These players participate in various cardiac conferences which offer them exposure and provide a platform to understand the market and showcase their products at the international level. Companies are also focused on expanding their presence in developing and underdeveloped countries through collaboration with various suppliers.

  • In November 2016, Schiller AG introduced 2nd generation of its most successful ECG device, AT-1 G2. The device incorporates new interpretation algorithm and enables easy patient data entry.
  • In September 2016, the company introduced the PHYSIOGARD Touch 7, a monitor for emergency services (out of hospital), designed to withstand the most demanding environments. The device possesses four leads as standard capabilities, which are SpO2, temperature, ECG, and non-invasive blood pressure.
  • In 2016, Abbott announced the acquisition of St Jude medical, thereby strengthening its position in the cardiovascular market.In October 2017, Abbott received FDA approval of the world’s first and only smartphone compatible ICM Confirm Rx for identifying cardiac arrhythmia in the U.S. In May 2018, Abbott received its first CE clearance across 10 countries in Europe for first use of Confirm Rx with myMerlin app. 

Identify the key factors that will drive your company’s growth, Request a brochure of this report here 

Medtronic plc. 

Medtronic is a prime medical technology, services, and solutions company. Its product portfolio caters to the cardiovascular, diabetes, cardiac rhythm, ENT, digestive & gastrointestinal, neurological, orthopedic, and other segments. The company’s strength lies in developing technologies with an aim to mitigate pain, improve health, and extend the quality of life of patients. The company is an industry leader that offers value-based health care services in order to drive growth globally. Medtronic operates in 160 countries through 370 locations worldwide. It offers its innovative solutions to hospitals, clinics, third-party health care providers, distributors, and government health care organization and group purchasing organizations.

Smiths Medical

Founded in 1940, Smiths Medical, a subsidiary of the Smiths Group plc, is headquartered in the U.S. unlike its parent company, which is based in U.K. Smiths Medical is involved in the manufacturing and marketing of world class medical devices, equipment and consumables. The company offers its products for hospitals, home care, and emergency as well as specific environments. Its products are utilized during surgery, intensive care, critical care, and post-operative care in a series of infusion therapies.

Rise in Global Geriatric Population Likely to Trigger Demand for Cardiopulmonary Products Market 

According to the World Health Organization (WHO), people above the age of 65 years form the fastest growing population segment globally. The percentage of the world's population above 60 years of age is projected to double from 11% to 22% between 2000 and 2050. The global geriatric population is expected to grow at the fastest rate in developed countries such as the U.K., U.S., Brazil, Japan and China, South Korea and Thailand are expected to have a large geriatric population in a short span of time in the near future. This demographic shift toward geriatric population would result in a higher burden of cardiopulmonary diseases.

Expanding operations in future? To get the perfect launch ask for a custom report here

Rise in Healthcare Expenditure in Emerging Countries will drive the Cardiopulmonary Products Market

Cardiovascular disease is among the top five causes of death in Asia and is characterized by large unmet needs that provide ample growth opportunities for the players in the region. Expanding health care infrastructure, rising disposable income, and large obese and geriatric populations are some of the factors that are expected to play a key role in making Asia Pacific the most attractive market for manufacturers operating in the region. China and India are the major markets in Asia Pacific that offer large opportunities for the cardiopulmonary products market.  The cardiopulmonary products market in Asia Pacific is projected to expand at the highest CAGR compared to other regions. Economic development in India, China, Brazil, Mexico, and other countries in Asia and Latin America has increased the disposable income of people, thereby enhancing their purchasing power. Factors such as development of health care infrastructure, expanding number of private and public hospitals, and increasing government initiatives to improve access to health care would contribute to the growth of the cardiopulmonary products market in these regions. China’s health care expenditure was USD 357 million in 2011 and is expected to reach USD 1,000 million by 2020.

According to the WHO, around 80% of the total number of cardiovascular deaths take place in developing countries every year. Moreover, according to the National Informatics Center (NIC), cardiovascular diseases remain highly under-diagnosed and is a less treated condition in countries such as India. Hence, the unmet medical needs of the population in emerging economies is projected to contribute to the growth of the global cardiopulmonary products market.

Cardiopulmonary Products Market – Segmentation

On the basis of product type, the cardiopulmonary products market is segmented into:

  • Oxygenators
  • Cardioplegia delivery systems
  • Heart lung equipment
  • Arterial filters
  • Centrifugal blood pumps and flow probes
  • Heat exchangers
  • Hemoconcentrators
  • Cannulae
  • Biocompatible surfaces monitoring and data management systems

Based on end-user, the cardiopulmonary products market is classified into:

  • Hospitals
  • Ambulatory surgical centers
  • Others 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Cardiopulmonary Products Market

Pre Book