The global hemoconcentrators market is projected to exhibit a steady growth owing to the increasing demand for improved healthcare solutions for patients with cardiovascular diseases.
Shift towards technological advanced methods for accurate health analysis is driving the growth in the hemoconcentrators market
The global hemoconcentrators market is projected to exhibit a steady growth owing to the increasing demand for improved healthcare solutions for patients with cardiovascular diseases. As per a study by Fact.MR, the hemoconcentrators market is estimated to gain from rising cases of cardiovascular diseases, requiring bypass or other cardio surgery as suitable treatment option. .
Hemoconcentrators have increasingly become the preferred method to control hemodilution during numerous cardiopulmonary surgeries by pefusionists or surgeons throughout the world. It is also rising in demand as it is used to reduce the need for added blood products during and after bypass along with maintaining higher haematocrit levels.
The global market is expected to witness steady recovery and favourable growth during the forecast period owing to advancement in the medical devices industry. It is used as an essential tool for any cardio surgery to remove fluid and prevent blood coagulation.
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Rise of geriatric population is resulting in increased cardiovascular diseases. According to the World Health Organization (WHO), cardiovascular diseases are among the leading causes of deaths across the world. In 2012, approximately 17.5 million people died of cardiovascular diseases. Out of them, 6.7 million were due to stroke and 7.4 million were from coronary heart diseases. The elevating number of people with cardiovascular diseases will augment the demand for hemoconcentrators in the global market.
“Hemoconcentrator’s ability to maintain desired level of oxygen transport to tissues is expected to boost its demand in the global market. In the near future, the market will witness entry of new players, which will significantly aid the expansion,” says Fact.MR analyst.
Key Takeaways
- North America is likely to dominate the global hemoconcentrators market as this region showcases higher adoption of technologically enhanced instruments, advanced healthcare infrastructure, and increased cell-based research activities.
- Europe will emerge as a lucrative market as it has increasing geriatric population and significant healthcare investments. Demand in Germany, the U.K., and other countries will increase in response to the surging incidence of cardiovascular ailments.
- Asia Pacific has lucrative opportunities. According to the Organization for Economic Co-operation and Development (OECD), cardiovascular diseases are among the leading cause of death in this region. Demand will be particularly high in China, Japan, and India among other countries.
- Latin America and Middle East & Africa are expected to witness steady growth as there is a rise in adoption of analytical instruments and development of biotechnology industry.
Key Drivers
- Advancement in healthcare technology has led to higher demand for hemoconcentrators as they help in blood dilution and minimize diuretic use.
- A hemoconcentrator is widely adopted because it aids in reducing post-operative bleeding risk through retention of plasma and platelets coagulation protein along with maintaining oncotic pressure.
- It is known to be easily controlled and does not cause unreasonable loss of potassium.
- Rise in investment in fluid management is expected to boost the demand for hemoconcentrators in the global market.
Key Restraints
- Complications related to usage of hemoconcentrators is expected to bring hindrance in the market growth.
- The global hemoconcentrators market will be affected due to lack of expertise about the tool.
- Product recalls will likely restrict the industry growth. For instance, in 2015, the U.S. FDA recalled Terumo Company’s Custom Cardiovascular Procedure Kit X-Coated Adult Pak.
Competitive Landscape
Key players in the hemoconcentrators market include Medtronic PLC, MAQUET Holding B.V. & Co. KG., Sorin Group, Nipro, Andocor N.V., LivaNova plc, Cantel Medical Corporation, Medivators, Terumo Cardiovascular Systems, and Medica s.p.a. The key players operating in the global hemoconcentrators market are investing in innovative technologies to deliver the unmet needs of consumers. Players are also adopting numerous strategies such as mergers and acquisitions to have an edge over their competitors.
- Medivators, a leading global company offers a wide range of paediatric hemoconcentrators owing to supportive healthcare infrastructure that fosters existing player’s growth.
- In 2017, Medivators announced its expansion in Australia of direct sales operation to strengthen its commercial platform.
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More Insights on the Hemoconcentrator Market
Fact.MR offers unbiased analysis of the hemoconcentrators market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (adult hemoconcentrators and paediatric hemoconcentrators), application (cancer, renal diseases, gastrointestinal diseases, infectious diseases, and other diseases), end-user (hospitals, ambulatory surgical centres, and others), and region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa).
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