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

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) is expected to advance at a respectable CAGR forecast till 2030 owing to the increase in the prevalence and burden of cardiovascular diseases and escalating burden of the geriatric population globally

The 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 the increasing cases of chronic disorders such as cardiovascular diseases including atrial fibrillation, coronary artery disease (CAD), rising geriatric population, increasing number of government initiatives by countries, growing focus on improving the safety, affordability, and usability of hemoconcentrators among others that are expected to drive the market for hemoconcentrators during the forecast period from 2024 to 2030.

Hemoconcentrators Market Dynamics:

As per data provided by the World Heart Report (2023), in 2021 it was stated that more than half a billion people were living with cardiovascular diseases globally. Further, according to recent data provided by the American Heart Association (2023), it is estimated that by 2030 over 12 million people will have atrial fibrillation globally.

According to British Heart Foundation, Global Heart & Circulatory Diseases Factsheet (2024), it stated that around 200 million people are living with CAD around the world. Vascular patches are vital role in procedures like arterial repairs, endarterectomy, and aneurysm reconstruction, offering improved outcomes and minimizing complications, making them indispensable in contemporary cardiovascular treatments. Hence the market for same is increasing.

The rising prevalence of cardiovascular diseases and associated surgical interventions, such as arterial repairs and aneurysm reconstructions, is driving demand for advanced fluid management solutions. Hemoconcentrators are increasingly essential in maintaining fluid balance during these procedures, improving outcomes and reducing complications, thereby boosting their market growth.

As per data provided by the WHO 2021, between 2015 and 2050, people falling between 60 years and above will be doubled from 12 to 22%, and will eventually reach 2.1 billion by 2050, globally. Moreover, by 2030, 1 in 6 people will age 60 years or above. The aging population is driving the market for hemoconcentrators as older individuals face a higher prevalence of cardiac, renal, and critical conditions requiring surgeries and fluid management, where these devices are essential.

Therefore, the factors stated above collectively will drive the overall hemoconcentrators market during the forecast period from 2024 to 2030.

However, the dearth of skilled professionals, complications during surgery and others may limit their end-user base, thus acting as key constraints limiting the growth of the hemoconcentrators.

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 hemoconcentrators, the pediatric hemoconcentrators category is expected to have a significant revenue share in the year 2023. The rapid growth of this product category is due to the increasing number of pediatric patients with heart diseases is the main reason responsible for the growth of pediatric hemoconcentrators.

According to NHS 2021, 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(R) 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 from 2024 to 2030.

North America is expected to dominate the overall hemoconcentrators market:

Among all the regions, North America is expected to dominate the hemoconcentrators market in the year 2023 and is expected to do the same during the forecast period from 2024 to 2030. The increasing prevalence of cardiovascular conditions such as coronary artery disease (CAD), myocardial infarction, and peripheral artery disease (PAD), along with rising comorbidities like hypertension & hyperlipidemia, growing government initiatives in the cardiovascular sector in the US, and presence of key players in the region is expected to drive the continued expansion and innovation in the market for hemoconcentrators during the forecast period from 2024 to 2030.

As per data provided by the National Institute of Health (2023), it stated that 20.5 million people in the US were living with CAD. Furthermore, according to data from the Centers for Disease Control and Prevention (2024), it was stated that 805,000 people in the US have a myocardial infarction every year on average. Furthermore, as per the same source, it was stated that heart disease is an umbrella term that encompasses numerous indications such as acute coronary syndrome, atherosclerosis, and congestive heart failure, among others. Some of the key risk factors associated with heart disease are high blood cholesterol, high blood pressure, and smoking. The source further mentioned that about half of the Americans (47%) have at least one of these three risk factors.

According to data from the Canadian Institute for Health Information (2024), it stated that in 2022, 2.4 million Canadians were affected by heart disease.

Since cardiovascular disorders are rising in the region among middle-aged individuals, the demand for more treatment options is increasing significantly. This trend is fueling investment in innovative technologies and expanding the market for hemoconcentrators.

Also, the presence of key market players in the region is significantly bolstering the market for hemoconcentrators. Major companies have established strong footholds in the region, driving innovation and market growth. The extensive research and development activities, combined with a robust distribution network, enable these players to deliver high-quality, technologically advanced products to a wide end-user base.

Therefore, the interplay of all the aforementioned factors above would provide a conducive growth environment for the North America region in the hemoconcentrators market.

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 CORPORATION, STERIS, Chalice Medical Ltd, and others.

Recent Developmental Activities in the Hemoconcentrators Market:

• In June 2021, STERIS 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 6 years (2024 to 2030)
• Top key product/services developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the hemoconcentrators market
• Various opportunities available for the other competitors 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 product 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 developments in the hemoconcentrators market

Frequently Asked Questions for the Hemoconcentrators Market:

1. What are hemoconcentrators?

• The 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 hemoconcentrators?

• The 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 hemoconcentrators market?

• The hemoconcentrators market is slated to witness growth owing to the increasing cases of chronic disorders such as cardiovascular diseases including atrial fibrillation, coronary artery disease (CAD), rising geriatric population, increasing number of government initiatives by countries, growing focus on improving the safety, affordability, and usability of hemoconcentrators among others that are expected to drive the market for hemoconcentrators during the forecast period from 2024 to 2030.

4. Who are the key players operating in the 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 CORPORATION, STERIS, Chalice Medical Ltd, and others.

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

• Among all the regions, North America is estimated to hold a significant revenue share in the hemoconcentrators market. The increasing prevalence of cardiovascular conditions such as coronary artery disease (CAD), myocardial infarction, and peripheral artery disease (PAD), along with rising comorbidities like hypertension & hyperlipidemia, growing government initiatives in the cardiovascular sector in the US, and presence of key players in the region is expected to drive the continued expansion and innovation in the market for hemoconcentrators during the forecast period from 2024 to 2030.