Cardiopulmonary diseases include a wide range of medical conditions which affect the heart and lungs. Cardiopulmonary devices include heart-lung machines (HLM), percutaneous ventricular assist devices (PVAD), extracorporeal membrane oxygenation (ECMO) and Autotransfusion (ATS). These devices find usage in cardiac surgeries, pulmonary surgeries, congenital defects, cardiopulmonary bypass procedures, cardiogenic shock/respiratory failure, joint replacement surgeries, aneurysm surgeries, transplants, and other indications.
Impact of Covid-19 Virus on the Global Cardiopulmonary Devices Market
During 2020-2021, most of the patients infected with the Covid-19 virus showcased moderate symptoms and recovered quickly. However, some patients developed severe respiratory failure and required intensive care unit (ICU) admission and mechanical ventilation. To treat and save the lives of these severe Covid-19 patients, ECMO emerged as a promising treatment option. The ECMO machine supports both the heart and lungs and stabilizes patients to allow their bodies more time to fight the virus.
Growing awareness about ECMO, HLM & other cardiopulmonary devices and the implementation of new ECMO centers during the COVID-19 pandemic further boosted the growth of the global cardiopulmonary devices market.
Regulatory Policies in Leading Markets Fuels the Cardiopulmonary Devices Market
To fight the Covid-19 pandemic and to offer cardiopulmonary and circulatory support products and therapies that may benefit Covid-19 virus-infected patients, in April 2020 the FDA permitted manufacturers of cardiopulmonary bypass devices to modify the product indications for use to include ECMO therapy for greater than six hours, without prior submission of a premarket notification to FDA. The favourable regulatory policy change resulted in increased sales of cardiopulmonary and advanced circulatory support products.
Organic and Inorganic Growth Strategies Adopted by Market Players to Establish Their Foothold in Cardiopulmonary Devices Market
The global cardiopulmonary devices market is marked by the presence of both established and new players. Players operating in the market have adopted both organic and inorganic growth strategies such as acquisitions, and new product launches to garner higher market share. For instance,
â€¢ In February 2022, Getinge acquired 100% of the equity interest in Talis Clinical LLC, a US-based leading innovator of High Acuity cloud-based software solutions. Talis Clinicalâ€™s offer is designed to support and document care throughout the general and cardiac perioperative care process, but also through labor and delivery episodes and critical care support including ECMO Therapy.
â€¢ In October 2021, MicroPort acquired 100% of the equity held by existing shareholders of Hemovent GmbH. Hemovent specializes in the development of ground-breaking Extracorporeal Life Support (ECLS) systems.
The global cardiopulmonary devices market is set to grow at a decent rate in the upcoming years due to growing cases of cardiopulmonary cases, technological advancements in cardiopulmonary devices, rising number of orthopaedic & transplant procedures, and rising aging population.
Competitive Landscape Analysis: Cardiopulmonary Devices Market
The global cardiopulmonary devices market is marked by the presence of key market players such as LivaNova, Getinge, Terumo, Medtronic, Abbott, Abiomed, Haemonetics, Fresenius, among others.
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