Allied Market Research

2024

Hemoconcentrators Market

Hemoconcentrators Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type and by End User : Global Opportunity Analysis and Industry Forecast, 2023-2032

LS : Medical Devices & Supplies

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Author's: | Roshan Deshmukh
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Hemoconcentrator also referred as hemofilter or ultrafiltration device, consists of a semipermeable membrane that permits the translocation of electrolytes along with water from the blood. It is majorly used during a cardio bypass surgery for removing unwanted fluid. Hemoconcentrators have the ability to connect with the cardiopulmonary bypass circuit (CPB) in variable configurations. Usually, it is attached to an extracorpeal circuit to monitor hemodilution, and aid in maintenance of the hematocrit levels. Utilization of hemoconcentrator minimizes the need for additional homologous blood and blood products post-surgery as these devices conserve albumin, platelets and coagulation factors. Hemoconcentrators reduce the loss of excessive potassium and also reduce the incidences of edema, organ dysfunction, and protein concentration. Hemoconcentration mechanism is extensively in cardiopulmonary surgery, for monitoring and influencing hemodilution and henceforth are widely implemented by several surgeons and perfusionists globally.

The hemoconcentrators are user friendly devices and can be easily controlled and aid in minimizing the complications involved after post-operative bleeding.

COVID-19 scenario analysis:

  • Due to the COVID – 19  outbreak, majority of healthcare, pharmaceutical and biotechnology organizations have concentrated on diagnostics kits, safety wearables (PPE kits, face shields, masks) and treatment therapies and medication against Novel coronavirus
  • R&D labs are also focusing on finding a breakthrough vaccine against Novel coronavirus
  • In addition, the medical professionals are engaged in providing COVID-19 related services, unavailability if experts to treat patients suffering from cardiac arrests
  • As a result, other healthcare segments  have to face negligence
  • In addition, it has been observed after some research that people with prevalence of cardiac diseases are at higher risk for mortality and morbidity related to COVID-19 compared to the average population
  • Henceforth, the hemoconcentrator industry is facing struggles amidst COVID-19 pandemic as various cardiac surgeries including majority of bypass surgeries are put on hold

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Global surge in the number of patients suffering from cardiac diseases, industry demand for affordable and effective techniques for hemodiluted processing blood, aging population, and technological developments in fluid management devices are the major factors driving the market of hemoconcentrators. The World Health Organization culminate that the cardiac diseases account for majority of the deaths in the world. Henceforth, hemoconcentrators that are used for regulation of hemodilution which reduces the risk of several complications during cardiac bypass surgery and this would soar the demand for hemoconcentrators in the global market.

Due to entry of new players in the market, there is intense competition pushing the market players to develop new technologies and launch innovative products in the market. Moreover, rising trend for customized hemoconcentrators development and launch of advanced fluid management solutions will offer immense growth avenues for these devices. Certain attributes pertaining use of hemoconcentrators such as user friendliness, ease in operating, accurate health analysis, and importantly, the capability of these devices that permit direct attachment to the extracorporeal circuit during bypass surgery will foster the industry growth. Heavy investments in research and development activities, supporting government initiative are some other factors that would propel the growth of hemoconcentrators market.

On the contrary, several risks and medical complexions related with hemoconcentrators, dearth of skilled professionals and expertise in developing regions and presence of substitutes for these devices in are the hampering factors for the market development. Additionally, products recalls would also restrict the industry growth. For instance, the U.S. FDA recalled Terumo Company’s Custom Cardiovascular Procedure Kit X-Coated Adult Pak in 2015.

Increase in prevalence of cardiac diseases

Cardiovascular diseases hold the first place in cause for death globally than any other disease according to World Health Organization (WHO). In 2016, cardiac diseases caused fatality in an estimated 17.9 million people, highlighting 31% of all global deaths with majority deaths were accounted in developing economies with low income. This can be an opportunity to the hemoconcentrators market to expand into developing economies.

Cardiac diseases are increasing with rising geriatric population and changing lifestyle. According to the Centers for Disease Control, the number of deaths due to cardiac diseases in United States is more than 606,000 on yearly basis. Four out of five CVD deaths are due to heart attacks and strokes. According to the World Journal of Cardiovascular Diseases, more than 7 million deaths are due to the sudden cardiac arrest worldwide every year. Thus, the growing cases of heart failures, heart attacks, strokes, and other heart-related conditions are would stimulate the need for cardiac bypass surgery thereby, facilitating the hemoconcentrators market growth.

North American region dominates the market

North America is expected to lead the hemoconcentrators throughout. The dominance is due to factors like rise in the prevalence of chronic diseases and higher adoption of technology in the region. According to Centers for Disease Control and Prevention, cardiac diseases are a leading cause of death in American men. Cardiovascular diseases accounts for around 836,546 reported deaths in the U.S. alone. Drastic rise in healthcare expenditure and high strain to get better health outputs at lower costs, availability of a well-developed infrastructure and presence of major industry are the other factors fostering the market in the near future.

Key benefits of the report:

  • This study presents the analytical depiction of the global hemoconcentrators industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hemoconcentrators market share.
  • The current market is quantitatively analyzed to highlight the global hemoconcentrators market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global hemoconcentrators market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Hemoconcentrators Market research report:

  • What are the leading market players active in the hemoconcentrators market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?

Hemoconcentrators Market Report Highlights

Aspects Details
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By Product Type
  • Pediatric Hemoconcentrators
  • Adult Hemoconcentrators
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By End User
  • Hospitals
  • Ambulatory Surgical Centre
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
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Key Market Players

MAQUET Holding B.V. & Co. KG, Nipro, Sorin Group, Medtronic plc., Terumo Cardiovascular Systems, LivaNova plc, Andocor N.V, Medivators, Medica s.p.a., Cantel Maedical Corporation

Key Market Players
Other Players

Stryker Corporation

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Hemoconcentrators Market

Global Opportunity Analysis and Industry Forecast, 2023-2032