A new report, titled Global Heart-Lung Machines Market 2016-2020, says the development of modular heart-lung machines is boosting market growth. What’s more, the analysts forecast the global heart-lung machines market to grow at a compound annual growth rate (CAGR) of 3.67% from 2016 to 2020.
According to the report, hospitals and ambulatory surgical centers (ASCs) prefer modular heart-lung machines since they’re user-friendly, cost-effective, and safe, and include features such as rechargeable batteries. Moreover, manufacturers including LivaNova, Terumo Medical, and MAQUET have developed next-generation modular heart-machines, which can be controlled and monitored through a single control panel.
In 2015, the ASCs segment accounted for almost 63% of the overall market space to become the key revenue generator in the global heart-lung machines market. ASCs, which help patients save on the cost and duration of treatment, include advanced operating equipment, surgeons, skilled staff, and operating and recovery rooms—but without the complex administrative procedures that often delay treatment and burden hospitals.
Recently, portable heart-lung machines have been gaining much traction in the market since they weigh less and occupy less space in operating rooms than conventional heart-lung machines; still, they’re quite expensive. To reduce the financial burden on hospitals, vendors have developed portable heart-lung machines that can operate on rechargeable batteries and can be transported to any part of the hospital. Such machines enable physicians to provide extracorporeal circulation to patients who are in the critical stage during any emergency period, either in an ambulatory setting or operating rooms.
The report also found a key growth driver is an increase of medical tourism to the Asia-Pacific region. The prevalence of cardiovascular diseases in the Asia-Pacific—owing to changing lifestyles in emerging economies such as China and India—has increased the demand for cardiac surgeries. These economies are experiencing the growing need for improved health care, where more patients are able to access affordable health care services. And the ability to obtain affordable medical services in the Asia-Pacific is attracting patients from developed countries such as the UK, Canada, and the US.
Another related report is Global Tissue Heart Valves Market 2016-2020, in which analysts forecast the global tissue heart valves market growing at a CAGR of 3.81% from 2016 to 2020. According to this report, physician demand for stent-less tissue valves will drive market growth, with physicians prefering these valves’ wider opening.