The global heart lung machine market is estimated to expand at a CAGR of 6.9% during the forecast period from 2021 to 2031, according to analysts at Transparency Market Research (TMR).
Hectic lifestyles, unhealthy eating habits, and disrupted sleep cycle among people from all across the globe are several important factors increasing the possibilities of heart complications. Moreover, stressed lifestyle and obesity are some of the key factors that are expected to boost the sales of heart lung machines, thus assisting the global heart lung machine market to reach the valuation of US$ 0.7 Bn by 2031.
Heart Lung Machine Market: Key Findings
Older persons are at a higher risk of acquiring different health issues, including heart-related disorders. Hence, increase in the number of elderly population around the world is creating lucrative avenues in the market. Moreover, surge in instances of elderly population suffering organ failure is resulting in the rise in demand for implant surgeries.
Heart lung machines are offer several advantages such as high level of efficiency, safe nature, and user-friendliness. Hence, due to its rising demand, companies operating in the global heart lung machine market are increasing their production capabilities.
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Notable increase in awareness on different types of surgeries such as heart transplant procedures and open-heart surgeries among people around the world is supporting the expansion of the global heart lung machine market. Moreover, the market is driven by advancing healthcare infrastructure and growing focus of government authorities on improving the health of regional populace.
Heart Lung Machine Market: Growth Boosters
Rise in different health issues such as lung diseases and cardiovascular disorders is propelling the demand for heart lung machines
Increase in the number of respiratory failure treatment, heart implants, and different surgical procedures is fueling sales prospects in the global heart lung machine market
Heart Lung Machine Market: Regional Analysis
The heart lung machine market is witnessing substantial growth opportunities in North America owing to rising prevalence of cardiovascular diseases among the regional population
The Asia Pacific heart lung machine market is expected to expand at a CAGR of 7.3% during the forecast period, owing to increase in cases of cardiac disorders and elderly population. Furthermore, surge in the adoption of heart lung machines in many developing nations, including China and India is fueling regional market expansion.
Heart Lung Machine Market: Competition Landscape
Market players are increasing their investments in R&D projects in order to launch next-gen products. The strategy is helping them to gain competitive edge over competitors.
Many companies are focused on the approval of products that can help in complicated pediatric and adult cardiopulmonary bypass surgeries
Several enterprises are collaborating with government and healthcare organizations to promote the use of advanced devices for performing surgeries
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