Adult and Pediatric Hemoconcentrators Market to Surpass US$ 14.3 Mn Threshold by 2026
The Global Adult and Pediatric Hemoconcentrators Market, by Product Type (Adult Hemoconcentrators and Pediatric Hemoconcentrators), by End User (Hospital, Ambulatory Surgical Centers, and Others), and by Region(North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 10.7 Mn in 2017, and is projected to exhibit a CAGR of 3.3% during the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights. High prevalence of cardiovascular diseases is expected to increase demand for hemoconcentrators, which in turn is expected to drive the global adult and pediatric hemoconcentrators market growth over the forecast period.
Major players operating in the global adult and pediatric hemoconcentrators market include Medivators Inc., Terumo Corporation, LivaNova, PLC, Maquet (a Getinge Group company), Medica S.p.A,, and others
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According to study published by the World Health Organization (WHO), in 2015, globally, around 7.4 million people died due to coronary heart diseases; and according to the Centers for Disease Control and Prevention (CDC), in 2016, around 8.5 million people in the U.S. suffered from peripheral artery diseases.
According to the data published by the National Center for Biotechnology Information in 2016, in the U.S., over 350,000 people suffered from out-of-hospital cardiac arrest (OHCA) and about 209,000 from in-hospital cardiac arrest (IHCA), with a survival rate of 12% and 24.9%, respectively
Such high prevalence of cardiovascular diseases is expected to increase demand for hemoconcentrators during surgical procedures and thus, support adult and pediatric hemoconcentrators market growth over the forecast period.
Browse 18 Market Data Tables and 23 Figures spread through 120 Pages and in-depth TOC on Global Adult and Pediatric Hemoconcentrators Market, by Product Type (Adult Hemoconcentrators, and Pediatric Hemoconcentrators), by End User (Hospital, Ambulatory Surgical Centers, and Others), and Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026
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Furthermore, advantages offered by hemoconcentrator devices is expected to rise its adoption and support global adult and pediatric hemoconcentrators market growth during the forecast period. For instance, according to the data published by Annals of Thoracic Surgery in 2013, hemoconcentrator functions without technical failures and offers complementary technique in blood management during cardiac operations.
Key players in the market are involved in strategic partnerships and collaboration activities for expanding their presence in the market and to gain major market share. Such strategic activities are expected to increase adoption of hemoconcentrators in different economies and support market growth in the near future.
For instance, in 2016, MEDIVATORS Inc. (a Cantel Medical Corporation company), a manufacturer of Hemocor HPH family hemoconcentrators, expanded its direct sales operations in Canada by acquiring endoscope reprocessing business assets from its Canadian distributor, Vantage Endoscopy, Inc., a subsidiary of Diploma Canada Holdings Ltd.
Key Takeaways of the Adult and Pediatric Hemoconcentrators Market:
The global adult and pediatric hemoconcentrators market is expected to exhibit a CAGR of 3.3% during the forecast period (2018 – 2026), owing to frequent product launches and approvals, and robust pipeline of novel adult and pediatric hemoconcentrators
North America is expected to hold dominant position in global adult and pediatric hemoconcentrators market over the forecast period, owing to high prevalence of cardiovascular diseases and increasing healthcare awareness in the region
China and India are expected to exhibit high growth in Asia Pacific adult and pediatric hemoconcentrators market, due to rising geriatric population who are more prone to cardiovascular diseases
Key players such as Medtronic Plc. and distribute hemoconcentrators manufactured by Medivators Inc. in various key regions
Key players are adopting strategic mergers and acquisitions strategy in order to expand its product portfolio and market presence. For instance, in 2015, Sorin S.p.A, a provider of hemoconcentrators, merged with a U.S.-based company, Cyberonics, Inc. The newly formed company was named LivaNova, Plc.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity
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