Los Angeles, January 3, 2020 - QY Research has added a new report in its repository titled, “Global Oxygenator Market Insights, Forecast to 2025,” for the forecasted period of 7-years, i.e. between 2018 and 2025. According to this report the global Oxygenator market was valued at US$ 209.0 Mn in 2018 and it is predicted to grow at US$ 329.1 Mn by the end of 2025. The global Oxygenator market is projected to exhibit a healthy CAGR of 6.6% during the projected period. Wide applications of Oxygenators to provide respiratory support and its extensive usage in cardiovascular surgeries is likely to propel the growth of the market.
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Global Oxygenator Market - Major Growth Boosters
● Rising cardiovascular diseases and the increasing application of oxygenator as a substitute for lungs in surgical procedures is driving the demand for the global oxygenator in the health-care sector
● The neonatal care also has largescale usage of the oxygenators in case of respiratory failure
● The aging population and rising orthopedic and cardiac issues is likely to propel the growth of the market
Respiratory Support – Augmenting the Growth of the Application Segment
The Application segment is segregated into Extra Corporeal Cardiopulmonary Resuscitation, Cardiac, Respiratory, and Others. Patients suffering from a variety of respiratory failures and lung diseases need a respiratory support system. Other conditions such as patients who fail to respond to ventilation and antibiotic management also need respiratory support. This is likely to foster the growth of the respiratory segment. The type segment of the market is segmented into ECMO Oxygenator and General Oxygenator.
Well Developed Healthcare System – A Supporting Growth Factor for the Market in North America
● North America – Technological advancement, developed healthcare infrastructure, and favorable reimbursement policies are expected to foster the growth of the regional market
● Asia-Pacific - High demand for advanced infrastructure in healthcare, increasing cardiovascular diseases resulting in demand for surgical interventions, and growing number of patients needing respiratory support is likely to fuel the growth of the market in the region
Innovation & Improvement in Patient-care – A Competitive Business Tactic
The leading companies of the market are involved in offering product development and innovation to provide quality treatment and healthcare to patients. The industry is competitive in nature and new participants are expected to increase the competition in future.
For instance, in 2019, Terumo Cardiovascular Group, a company providing cardiovascular surgery technologies announced the launch of its smallest full-size adult oxygenator – the Capiox® NX19. It has major applications for patient care in cardiopulmonary bypass surgery.
In another instance, in 2017, the Medos Company successfully tested the leakage of hydrogen peroxide through the heat exchange membrane of the oxygenator hilite. The company offers a wide range of high-performance oxygenators.
Some of the key players studied in the report are Terumo, Medtronic, EUROSETS S.r.l, Sorin Group, Medos, Chalice Medical Ltd, Nipro Medical, Maquet, Xijian Medical, WEGO, Kewei, and Xijian Medical.
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