Hemoconcentrators - Market Insights, Competitive Landscape, and Market Forecast - 2030

Hemoconcentrators Market By Product Type (Pediatric Hemoconcentrators And Adult Hemoconcentrators), By End-User (Hospitals And Ambulatory Surgical Centres), and by geography is estimated to register a growth at a remarkable CAGR forecast during 2024-2030 owing to a surge in the cases of cardiovascular diseases and growing burden of geriatric population globally

The global hemoconcentrators market was valued at USD 11.63 million in 2023, growing at a CAGR of 3.24% during the forecast period from 2024 to 2030 to reach USD 14.04 million by 2030. The hemoconcentrators market is slated to witness growth owing to factors such as the rising burden of cardiovascular disorders, the rising geriatric population, the increasing number of government initiatives by countries, and the growing focus on improving the safety, affordability, and usability of hemoconcentrators is expected to result in appreciable revenue growth in the hemoconcentrators market during the forecast period (2024-2030).

Hemoconcentrators Market Dynamics:

One of the noteworthy drivers of the hemoconcentrators market is the rise in the prevalence of cardiovascular diseases.

As per the data provided by the World Health Organization (WHO) 2022, cardiovascular disorders are considered the leading cause of death worldwide affecting about 17.9 million lives every year. Cardiovascular diseases requiring bypass surgeries mainly include disorders such as coronary artery disease, aortic stenosis, and edema, among others.

In another study by the World Heart Federation in the year 2019, it had estimated that more than 23 million lives will be affected globally owing to cardiovascular disorders by the year 2030.

The increase in the rates of cardiovascular diseases can be linked to an increase in the risk factors for cardiovascular diseases such as unhealthy lifestyle, tobacco usage, hypertension, diabetes, alcohol consumption, obesity, and others.

For instance, according to the Institute for Health Metrics and Evaluation (2023), the number of smokers worldwide increased to 1.1 billion in 2019, where 90% of all new smokers became addicted by the age of 25.

Another interesting statistic by the WHO (2023), quoted that the number of people living with hypertension doubled to 1.28 billion from 1990-2019.

The increase in the abovementioned risk factors will increase the demand for more bypass surgeries to take place in the upcoming years, thus raising the demand for hemoconcentrators.

Additionally, the rising geriatric population prone to the development of cardiovascular diseases is further going to accelerate the growth of the hemoconcentrators market. According to the data provided by the WHO (2023), in 2020, about one billion people across the world were over the age of 60. The source mentioned above added by stating that by 2050, the elderly population aged 60 and above is expected to double in number representing about 2.1 billion people. Also, people in the age group of 80 and above are estimated to triple between 2020 and 2050 to reach 426 million.

Thereby, the above-mentioned factors are expected to accelerate the growth of the hemoconcentrators market.

However, the dearth of skilled professionals and complications during surgery may act as restraining factors for the hemoconcentrators market.

The COVID-19 pandemic had a slightly negative impact on the market growth of hemoconcentrators during the initial few months owing to the lockdown impositions, border closures, and others leading to the disruption in the manufacturing, supply, import, export, and other related activities of the hemoconcentrators market. Also, owing to the fear of the spread of the SARS-CoV-2 virus which is the causative agent for COVID-19, and uncertainties revolving around the pandemic, many countries across the world were forced to close down ambulatory surgical centers (ASCs) except in case of emergencies. However, the resumption of activities across industries including the healthcare sector has been uplifting the hemoconcentrators market and will drive growth during the forecast period from 2024-2030.

Hemoconcentrators Market Segment Analysis:

Hemoconcentrators Market by Product Type (Pediatric Hemoconcentrators and Adult Hemoconcentrators), End-user (Hospitals and Ambulatory Surgical Centres), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the product type segment of the hemoconcentrators market, the pediatric hemoconcentrators category held the highest revenue share of 71% in 2022.

The increasing number of pediatric patients with heart diseases is the main reason responsible for the growth of pediatric hemoconcentrators. According to NHS 2022, one in a hundred babies are born with congenital heart disease in the UK.

As per the Centers for Disease Control and Prevention, 2022, about 1 in 4 babies born with a heart defect have a critical congenital heart defect (CHD).

The increasing importance of pediatric coronary artery bypass surgery (PCABS) for congenital heart disease in infants and children undergoing modern cardiac surgical procedures, because of its life-saving potential in unsuccessful coronary transfer operations is going to increase the demand for pediatric hemoconcentrators.

Due to the small size and low weight of pediatric patients among other factors, performing bypass surgery in infants and neonates is complicated. Pediatric hemoconcentrators help in reducing inflammatory cytokines and correcting electrolyte and acid-base imbalances, limit early postoperative RBCs transfusions, reduces swelling of the heart, and facilitate the closing of surgical incision for better outcome of pediatric cardiac surgery.

For example, CAPIOX® HC05 Hemoconcentrators by Terumo Corporation is a type of pediatric Hemoconcentrator that efficiently concentrates blood using a polysulfone membrane material at a high ultrafiltration rate.

Therefore, owing to the above-mentioned factors the pediatric hemoconcentrators category is expected to witness substantial growth in the overall hemoconcentrators market during the given forecast period.

North America is expected to dominate the overall Hemoconcentrators Market:

Among all the regions, North America held the largest share of 45% in the hemoconcentrators market in 2022.

This domination is owing to the surging prevalence of cardiovascular disorders such as heart failure, congenital heart disease, hypertension, and others, the growing government initiatives in the cardiovascular sector in the United States, and the presence of key players in the region is expected to propel the overall market growth.

According to the latest study conducted by the Centres for Disease Control and Prevention (CDC), one person dies every 34 seconds in the United States from cardiovascular disease. Also, as per the same source, about 697,000 people in the United States died from heart disease in 2020, in the United States and about 20.1 million adults aged 20 and older had coronary artery disease (CAD). The mortality rate can be controlled by treating or managing the disease through surgical procedures such as cardiac bypass surgery, ultimately increasing the demand for hemoconcentrators.

As per the above-mentioned source, congenital heart defects are the most common type of birth defect in the United States, affecting nearly 1% (about 40,000) of births per year. The American Heart Association projected that by 2035, more than 130 million US adults will have some type of heart disease.

Moreover, the increasing prevalence of risk factors for cardiovascular diseases such as hypertension, obesity, age, arteriosclerosis, and others will in turn drive the market for hemoconcentrators. As per the source, Million Heart, 2022, high blood pressure is the most prevalent heart disease in the US, as almost half of the population had been diagnosed with hypertension, in 2020.

Therefore, the above-mentioned factors are going to bolster the North America hemoconcentrators markets.

Hemoconcentrators Market Key Players:

Some of the key market players operating in the Hemoconcentrators market include Getinge AB, LivaNova PLC, Braile Biomedica, Terumo Corporation, MEDICA S.P.A., Andocor, NIPRO, STERIS, Chalice Medical Ltd., and others.

Recent Developmental Activities in the Hemoconcentrators Market:

In June 2022, STERIS plc completed the acquisition of Cantel Medical which was the parent company of Medivators Inc. and Minntech, leading manufacturers of hemoconcentrators.

Key Takeaways from the Hemoconcentrators Market Report Study

Market size analysis for current hemoconcentrators market size (2023), and market forecast for 5 years (2024-2030)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the hemoconcentrators market.

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years.

Key companies dominating the global hemoconcentrators market.

Various opportunities available for the other competitor in the hemoconcentrators market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current hemoconcentrators market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for hemoconcentrators market growth in the coming future?

Target Audience who can be benefited from this Hemoconcentrators Market Report Study

Hemoconcentrators providers

Research organizations and consulting companies

Hemoconcentrators -related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in hemoconcentrators

Various end users who want to know more about the hemoconcentrators market and the latest technological developments in the hemoconcentrators market.

Frequently Asked Questions for the Hemoconcentrators Market:

1. What are hemoconcentrators?

A hemoconcentrator is an ultrafiltration device consisting of semipermeable membrane fibers that remove plasma water and solutes. Blood passes through fibers of a microporous membrane, and since the hydrostatic pressure inside the fibers is higher than outside, effluent fluid can pass through the membrane and be drained.

2. What is the market for global hemoconcentrators?

The global hemoconcentrators market was valued at USD 11.63 million in 2023, growing at a CAGR of 3.24% during the forecast period from 2024 to 2030 to reach USD 14.04 million by 2030.

3. What are the drivers for the global hemoconcentrators market?

The hemoconcentrators market is expected to grow significantly owing to factors such as the rising burden of cardiovascular disorders, the rising geriatric population, and the increasing number of government initiatives by countries, among others during the given forecast period (2024-2030).

4. Who are the key players operating in the global hemoconcentrators market?

Some of the key market players operating in the hemoconcentrators market include Getinge AB, LivaNova PLC, Braile Biomedica, Terumo Corporation, MEDICA S.P.A., Andocor, NIPRO, STERIS, Chalice Medical Ltd., and others.

5. Which region has the highest share in the hemoconcentrators market?

North America is expected to dominate the overall hemoconcentrators market during the forecast period, 2024 to 2030. This can be ascribed to the presence of a large number of people suffering from cardiovascular diseases along with the rising geriatric population in the region. In addition, it is a highly potent market in terms of technological developments and launches along with the presence of key market players among other factors in the region.