Centrifugal Blood Pumps Market Size To Reach $126.7 Million By 2028: Grand View Research, Inc.

The global centrifugal blood pumps market size is estimated to reach USD 126.7 million by 2028, registering a CAGR of 5.4% over the forecast period, according to a new report by Grand View Research, Inc. Demand for centrifugal blood pumps is increasing owing to its several advantages such as low maintenance costs, small in size, and less capital investment. Thus, such advantages offered by centrifugal blood pumps are estimated to fuel the market growth during the forecast period.

Key Insights & Findings:

  • The electronic segment held the largest revenue share in 2020. High product efficacy is a major factor augmenting segment growth
  • The hospitals segment is predicted to grow at the fastest growth rate over the forecast timeframe due to the increasing number of patient visits and advanced infrastructure in hospitals as compared to other healthcare facilities
  • North America held the largest revenue share in the market in 2020 and is predicted to maintain its dominance over the forecast period. This is attributable to strong per capita healthcare spending and favorable healthcare policies that have led to the introduction of cardiotomy suction devices

Read 150 page market research report, “Centrifugal Blood Pumps Market Size, Share & Trends Analysis Report By Type (Electronic, Mechanical), By End Use (Hospitals, ASCs, Specialty Clinics), By Region, And Segment Forecasts, 2021 – 2028‘, by Grand View Research.

Growing clinical experience and cardiotomy suction devices have led to a significant increase in usage of mechanical centrifugal blood pumps and to the improvement of outcomes after short and long-term support. As the interventional methods in the cardiovascular field continue to develop and a majority of critically ill patients undergo treatment, the demand for mechanical centrifugal blood pumps is increasing drastically in this field.

Changing lifestyles and an increase in the prevalence of lifestyle-associated diseases are also expected to contribute to market growth. The increasing prevalence of diseases such as diabetes, obesity, and cardiovascular diseases coupled with the rising number of geriatric population are fueling the demand for cardiovascular procedures. Treatment of such diseases involves the use of cardiotomy suction devices, which, in turn, is expected to drive the market over the forecast period.

Grand View Research has segmented the global centrifugal blood pumps market on the basis of type, end use, and region::

  • Centrifugal Blood Pumps Type Outlook (Revenue, USD Million, 2016 – 2028)
    • Electronic
    • Mechanical
  • Centrifugal Blood Pumps End-use Outlook (Revenue, USD Million, 2016 – 2028)
    • Hospitals
    • Ambulatory Surgical Centers
    • Specialty Clinics
    • Others
  • Centrifugal Blood Pumps Regional Outlook (Revenue, USD Million, 2016 – 2028)
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
    • Asia Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE

List of Key Players of Centrifugal Blood Pumps Market

  • Medtronic
  • LivaNovaplc
  • Qura srl
  • Abbott Laboratories
  • Terumo Corporation
  • Braille Biomedica Ltd.
  • Getinge AB
  • 3M
  • Baxter International

Browse through Grand View Research’s coverage of the Global Medical Devices Industry:

  • Intravenous Infusion Pump Market – Global intravenous infusion pump market size was valued at USD 1.4 billion in 2019 and is expected to grow a compound annual growth rate (CAGR) of 5.9% from 2020 to 2027. Intravenous infusion pumps are used to administer medications, hormones, and nutritional fluids into the circulatory system through veins in controlled amounts.
  • Insulin Pump Market – Global insulin pump market size was valued at 3.30 billion in 2018 and is projected to expand at a CAGR of 9.6% during the forecast period. Rising technological advancement and adoption of insulin pumps over traditional methods are some of the key market drivers.
  • Membrane Oxygenators Market – Global membrane oxygenators market size was valued at USD 118.8 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 1.5% from 2021 to 2028. The increasing prevalence of respiratory and cardiovascular diseases, growing number of extracorporeal membrane oxygenator centers, rising adoption of membrane oxygenators as a bridge to lung transplantation are some of the major factors augmenting the market growth.
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