The Oxygenators Market is estimated to be valued at US$ 250.9 Mn or Million in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Oxygenators are medical devices used during cardiac and respiratory bypass procedures to oxygenate and remove carbon dioxide from blood. The products have gained increased adoption owing to their safety and ability to effectively maintain tissue oxygen levels during surgeries.

Market key trends:
The market is expected to grow at a significant pace owing to the rising prevalence of cardiovascular diseases and growing preference for minimally invasive procedures. According to the World Health Organization, cardiovascular diseases accounted for over 17.9 million deaths in 2016. This rising disease burden has triggered the demand for oxygenators to support cardiopulmonary bypass during surgeries. Moreover, advances in material science have led to the development of more durable and flexible oxygenators that can effectively support longer procedures while minimizing trauma and blood trauma. Leading players are also expanding their product portfolio to offer oxygenators designed specifically for pediatric cardiac procedures. Such innovations are expected to boost market revenues over the forecast period.

Porter's Analysis

Threat of new entrants: Low barriers to entry due to low capital requirements pose threat of new entrants. However, established brands and need for regulatory approvals limit threat.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes. They can negotiate on price and demand additional features.

Bargaining power of suppliers: Key components are sourced from few specialized suppliers giving them strong bargaining power over Oxygenators manufacturers.

Threat of new substitutes: Emerging alternatives like ECMO machines pose threat of substitution.

Competitive rivalry: Intense competition exists among existing players due to established brands and pricing pressures.

SWOT Analysis

Strengths: Established brands, regulatory approvals, experience in production.

Weaknesses: Heavy dependence on few suppliers, pricing pressures, high RD costs.

Opportunities: Growth in cardiovascular surgeries, rise in older population, expansion in emerging markets.

Threats: Stringent regulations, need for advanced technologies, threat of substitution.

Key Takeaways

The global Oxygenators market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing prevalence of cardiovascular diseases. North America dominates the market currently owing to presence of major players and advanced healthcare facilities.

Regional analysis - Asia Pacific is expected to grow at fastest pace due to increasing healthcare spending, rising disposable incomes and growing medical tourism. Growing elderly population in China and India is driving the demand.

Key players - Key players operating in the Oxygenators market are Owgels Group, Braile Biomedica, Terumo Corporation, Nipro Corporation, Medtronic PLC, Getinge AB, EUROSETS SRL, Chalice Medical Ltd., Gen World Medical Devices, MC3 Cardiopulmonary, LivaNova PLC, MicroPort Scientific Corporation, Senko Medical Instrument Mfg Co. Ltd (MERA), and Xenios AG (Fresenius Medical Company), among others. Players focus on new product launches, capacity expansion and partnerships for growth.