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North America Oxygenators Market Forecast 2021-2028

KEY FINDINGS

The North America oxygenators market is expected to grow with a CAGR of 5.51% over the forecasting years of 2021 to 2028. The availability of established primary, secondary, tertiary care hospitals, favorable government funding, the rising awareness about oxygenators, and the well-developed reimbursement network are among the key factors associated with the region's market growth.

MARKET INSIGHTS

The North America oxygenators market growth evaluation includes the assessment of Canada and the United States. The market growth in Canada is primarily accredited to the enhanced healthcare infrastructure, the increasing rates of cardiopulmonary disorders, the availability of technologically advanced products, and the rapidly aging population. According to the statistics issued by the Government of Canada, the country's geriatric population accounted for 6,592,611, representing over 17% of the overall Canadian population, as of July 2019. Besides, this figure is anticipated to grow over the upcoming years. Since aging leads to major changes in blood vessels and the heart, a higher incidence of cardiovascular conditions is observed among this population group.

Conversely, asthma is a severe public health concern in Canada. As a chronic respiratory ailment, asthma impacts psychological wellbeing, work productivity, mental health, and quality of life. More than 38 million individuals in the country had asthma in 2019, according to the Annual Asthma Survey report. Since oxygenators offer adequate gas exchange during acute respiratory failure due to asthma, the market demand is expected to augment. Hence, these factors are set to fuel the North America oxygenators market growth during the estimated period.

COMPETITIVE INSIGHTS

Some of the key companies operating in the market are Abbott Laboratories, MC3 Cardiopulmonary, Medtronic PLC, etc.

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North America Oxygenators Market Forecast 2021-2028
Published By :Inkwood Research
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