PUBLISHER: The Business Research Company | PRODUCT CODE: 1539591
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539591
An artificial lung is a medical device created to assume the function of natural lungs by supplying oxygen to the blood and eliminating carbon dioxide. It is commonly employed in patients experiencing severe respiratory failure or during surgeries where temporary cessation of heart and lung function is necessary. This technology aims to support or replace lung function, facilitating patient survival and recovery from critical conditions.
The primary types of artificial lungs include single roller pump heart-lung machines, double roller pump heart-lung machines, bubble artificial lungs, and membrane artificial lungs. A single roller pump heart-lung machine operates using a single roller pump to circulate blood through an artificial lung and back into the patient during cardiopulmonary bypass surgery. These machines are utilized in cardiac surgery, lung transplants, acute respiratory failure treatments, and other medical procedures, catering to diverse end users such as hospitals, emergency centers, and healthcare facilities.
The artificial lung research report is one of a series of new reports from The Business Research Company that provides artificial lung market statistics, including the artificial lung industry's global market size, regional shares, competitors with an artificial lung market share, detailed artificial lung market segments, market trends and opportunities, and any further data you may need to thrive in the artificial lung industry. This artificial lung market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The artificial lung market size has grown rapidly in recent years. It will grow from $2.06 billion in 2023 to $2.31 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. During the historic period, growth can be attributed to several factors including heightened awareness among healthcare professionals, expanding market penetration, increased adoption in home care settings, the growth of medical tourism, and advancements in healthcare infrastructure.
The artificial lung market size is expected to see rapid growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. In the forecast period, growth can be attributed to the increasing prevalence of respiratory diseases, advancements in healthcare facilities, greater acceptance of minimally invasive procedures, improved patient quality of life, and a rise in chronic obstructive pulmonary diseases. Key trends expected in this period include the integration of wireless technology, adoption of artificial intelligence (AI), advancements in genomics and medical technology, and the development of smaller, more portable artificial lungs.
The artificial lung market is expected to experience growth driven by the increasing prevalence of respiratory diseases. This rise is influenced by factors such as escalating air pollution, climate changes, and shifts in lifestyle, placing a substantial burden on public health. Artificial lungs play a critical role in treating respiratory conditions by providing oxygenation and removing carbon dioxide from the blood, supporting or replacing impaired lung function. For example, as reported by the Australian Institute of Health and Welfare in June 2024, approximately 8.5 million people in Australia, constituting 34% of the population, were estimated to have chronic respiratory conditions. This includes 2.8 million people (11% of the population) with asthma and 638,000 people (2.5% of the population) with chronic obstructive pulmonary disease (COPD). Thus, the growing prevalence of respiratory diseases is a key driver behind the expansion of the artificial lung market.
Leading companies in the artificial lung market are actively developing innovative solutions, particularly respiratory support systems, to enhance patient care and outcomes. Respiratory support systems are medical devices designed to assist or maintain a patient's breathing. For instance, in December 2021, ALung Technologies Inc., based in the US, obtained approval from the US Food and Drug Administration for its Hemolung Respiratory Support System. This device is the first and only extracorporeal carbon dioxide removal (ECCO2R) device indicated for respiratory support, providing CO2 removal from the patient's blood for up to 5 days in adults with acute, reversible respiratory failure when other ventilation methods are inadequate or unsafe, and clinical deterioration is anticipated.
In May 2022, LivaNova plc, a UK-based medical device company, acquired ALung Technologies to bolster its portfolio in advanced respiratory therapies. This acquisition aimed to strengthen LivaNova's capability to deliver innovative solutions for respiratory support, particularly focusing on advancing artificial lung technologies. ALung Technologies, headquartered in the US, specializes in developing intra- and extracorporeal gas exchange devices for treating acute and chronic respiratory disorders.
Major companies operating in the artificial lung market are Terumo Corporation, Getinge AB, Abiomed Inc., MicroPort Scientific Corp., Charles Stark Draper Laboratory Inc., TransMedics Group Inc., Braile Biomedica 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
North America was the largest region in the artificial lung market in 2023. The regions covered in the artificial lung market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the artificial lung market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The artificial lung market consists of sales of extracorporeal membrane oxygenation (ECMO), intravenous membrane oxygenators (IVOX), bioartificial lungs, and microfluidic artificial lungs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Artificial Lung Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on artificial lung market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for artificial lung ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The artificial lung market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.