Global Artificial Lung Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

 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.

Sizing and Forecast
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%.  The growth in the historic period can be attributed to growing awareness among healthcare professionals, increasing market penetration, increasing applications in-home care setting, the rise in medical tourism, and improvements 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%.  The growth in the forecast period can be attributed to the rising prevalence of respiratory diseases,  improvements in healthcare facilities, rising acceptance of minimally invasive procedures, enhanced patient quality of life, and rising prevalence of chronic obstructive pulmonary diseases. Major trends in the forecast period include the integration of wireless technology, artificial intelligence (AI) integration, advances in genomics and medical technology, and the development of smaller, more portable artificial lungs.

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Segmentation & Regional Insights
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

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.

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Major Driver Impacting Market Growth
The increasing prevalence of respiratory diseases is expected to propel the growth of the artificial lung market going forward. The prevalence of respiratory diseases is increasing due to a combination of factors, including rising air pollution, climate change, and lifestyle changes, leading to a significant burden on public health. Artificial lungs are used in respiratory diseases to provide oxygenation and remove carbon dioxide from the blood, supporting or replacing impaired lung function. For instance, in June 2024, according to the Australian Institute of Health and Welfare, an Australia-based health and welfare agency, approximately 8.5 million people in Australia, or 34% of the population, were estimated to have chronic respiratory conditions. This includes an estimated 2.8 million people, or 11% of the population, living with asthma, and 638,000 people, or 2.5% of the population, living with chronic obstructive pulmonary disease (COPD). Therefore, the increasing prevalence of respiratory diseases is driving the growth of the artificial lung market.

Key Industry Players
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 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

The artificial lung market report table of contents includes:
1. Executive Summary

2. Artificial Lung Market Characteristics

3. Artificial Lung Market Trends And Strategies

4. Artificial Lung Market - Macro Economic Scenario

5. Global Artificial Lung Market Size and Growth

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32. Global Artificial Lung Market Competitive Benchmarking

33. Global Artificial Lung Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Artificial Lung Market

35. Artificial Lung Market Future Outlook and Potential Analysis

36. Appendix

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