Cardiopulmonary Devices Market to Top $3B in the Next Five Years

The worldwide cardiopulmonary devices market is primed for solid near-term growth.

Medi-Tech Insights valued the sector at $2.8 billion in 2021 and predicts it will expand 5% annually over the next five years. Growth drivers include an aging global population, rising cases of cardiopulmonary diseases, a surge in demand for cardiopulmonary devices due to COVID-19, an increased number of ECMO centers, and increasing numbers of complex cardiac surgeries. However, the dearth of perfusionists in key markets such as the United States is likely to hamper the market’s growth.

Cardiopulmonary diseases include a range of conditions that 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.
 
During 2020-2021, most COVID-19 patients showed moderate symptoms and recovered quickly. But 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, and other cardiopulmonary devices and the implementation of new ECMO centers during the COVID-19 pandemic further boosted the global cardiopulmonary devices sector.
 
To fight the COVID-19 pandemic and to offer cardiopulmonary and advanced circulatory support products and therapies that may benefit COVID-19 virus-infected patients, in April 2020 the U.S. Food and Drug Administration permitted cardiopulmonary bypass device manufacturers to modify product indications for use to include ECMO therapy for greater than six hours, without prior submission of a premarket notification. The policy change resulted in increased sales of cardiopulmonary and advanced circulatory support products.
 
The market is a technology-driven sector and is marked by constant product enhancements/innovations. For instance, in April, 2022, LivaNova launched the Essenz Patient Monitor for cardiopulmonary bypass procedures, a system that uses a patient-tailored approach to improve clinical efficiency and patient care quality during cardiopulmonary bypass (CPB) procedures.
 
In January 2021, Eurosets released in the United States its novel ECMOlife system for ExtraCorporeal Life Support (ECLS). ECMOlife provides temporary support to patients in different therapeutic areas, including ECMO and mechanical circulatory support (MCS).
 
The cardiopulmonary devices market is marked by the presence of both established and new players. These players adopt both organic and inorganic growth strategies such as acquisitions, and new product launches to garner higher market share. In February, Getinge acquired 100% of the equity interest in Talis Clinical LLC, a U.S.-based developer of high acuity cloud-based software solutions. Talis Clinical’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.
 
In October 2021, MicroPort acquired 100% of the equity held by existing Hemovent GmbH shareholders. Hemovent specializes in the development of ground-breaking extracorporeal life support (ECLS) systems.
 
Key players in the cardiopulmonary devices market include LivaNova, Getinge, Terumo, Medtronic, Abbott, Abiomed, Haemonetics, and Fresenius, among others.