Global Artificial Lung Market Analysis 2024, Forecast To 2033
22 Aug, 2024
The artificial lung market has experienced rapid growth, expanding from $2.06 billion in 2023 to $2.31 billion in 2024 at a CAGR of 11.9%. This growth is due to increasing awareness among healthcare professionals, rising market penetration, and the growing application of artificial lungs in home care settings. The market is expected to reach $3.63 billion by 2028 at a CAGR of 12.0%, driven by the rising prevalence of respiratory diseases, improvements in healthcare facilities, and the increasing acceptance of minimally invasive procedures. Major trends in this market include the integration of wireless technology, advances in genomics and medical technology, and the development of smaller, more portable artificial lungs.
Global Artificial Lung Market Key Driver
The rising prevalence of respiratory diseases is projected to propel the artificial lung market. This increase is due to factors such as air pollution, climate change, and lifestyle changes, placing a burden on public health. Artificial lungs support or replace impaired lung function by providing oxygenation and removing carbon dioxide. For instance, the Australian Institute of Health and Welfare reported that in June 2024, about 8.5 million Australians (34% of the population) had chronic respiratory conditions, including 2.8 million with asthma and 638,000 with chronic obstructive pulmonary disease (COPD). Thus, the increasing prevalence of respiratory diseases is boosting the artificial lung market.
Get A Free Sample Of The Artificial Lung Market ReportGlobal Artificial Lung Market Segments
The artificial lung market covered in this report is segmented –
1) By Product Type: Single Roller Pump Heart Lung Machines, Double Roller Pump Heart Lungs Machines, Bubble Artificial Lung, Membrane Artificial Lung
2) By Application: Cardiac Surgery, Lung Transplant Operation, Acute Respiratory Failure Treatment, Other Applications
3) By End-Users: Hospital, Emergency Center, Other End-users
By Geography:The regions covered in the artificial lung market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the artificial lung market in 2023.
Major Artificial Lung Industry Players
Terumo Corporation, Getinge AB, Abiomed Inc., MicroPort Scientific Corp., Charles Stark Draper Laboratory Inc., TransMedics Group Inc., Braile Biomédica Ltd., Xenios AG, MC3 Cardiopulmonary Inc., Lung Biotechnology PBC, Breethe Inc., Levitronix LLC, Medos Medizintechnik AG, ALung Technologies Inc., McGowan Institute for Regenerative Medicine, Hemovent GmbH, Novalung GmbH, Haemair Ltd., MedArray Inc., Vivonics Inc., Extracorporeal Life Support (ECLS) Lab
Purchase The Global Artificial Lung Market Report Directly And Get A Swift DeliveryArtificial Lung Market Overview
An artificial lung refers to a medical device designed to take over the function of natural lungs, providing oxygen to the blood and removing carbon dioxide. It is typically used in patients with severe respiratory failure or during surgeries that require the heart and lungs to be temporarily non-functional. This technology aims to support or replace lung function, allowing patients to survive and recover from critical conditions.
Artificial Lung Global Market Report 2023 provides data on the global artificial lung market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The artificial lung market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.