Artificial Lung Market Overview:
The Artificial Lung Market analysis provides a full insight into the competition, including the market share and company profiles of the key worldwide rivals. The scope of the research covers a thorough investigation of the Artificial Lung Market, as well as the causes for variances in the industry’s growth in different regions.
The Artificial Lung Market is expected to reach US$ 5.16 Bn. at a CAGR of 12.78 during the forecast period 2029.
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Market Scope:
Following the completion of market engineering, which comprised market statistics calculations, estimations of market size, market projections, market breakdown, and data triangulation, major primary research was conducted to obtain information and verify and validate critical numbers. Top-down and bottom-up strategies, as well as several data triangulation procedures, were often used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all data gathered throughout the market engineering process.
Segmentation:
Based on the Product Type, segment is divided into Bubble Artificial Lung and Membrane Artificial Lung. The Membrane Artificial Lung is used most prominently. Membrane artificial lung is expected to hold the largest market share. Bubble Artificial Lung was used earlier and are now being increasingly replaced by membrane Artificial Lung due to the technological advancements in the devices. Membrane Artificial Lung has the advantage of reducing the damage and thrombosis that is seen in bubble Artificial Lung. This is expected to further boost the market. In April 2020, an Indian firm, Genrich Membranes, which is being funded by the Department of Science and Technology (DST), India developed membrane Artificial Lung equipment for the treatment of COVID-19 patients. Hence, the demand for these devices is rising.
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Key Players:
Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
• The biggest players in the Artificial Lung Market are as follows:
• ALung Technologies
• Breethe
• Haemair
• Lung Biotechnology PBC
• McGowan Institute for Regenerative Medicine
• MedArray
• Michigan Critical Care Consultants
• Miromatrix Medical
• The Charles Stark Draper Laboratory
• Xenios
Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Artificial Lung Market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Artificial Lung Market:
End-user industries where Artificial Lung Market is utilized saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Artificial Lung Market manufacturers, influencing the development of the Artificial Lung Market in 2020. End-user business demand for Artificial Lung Market has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.
Key Questions Answered in the Artificial Lung Market Report are:
In 2021, which segment held the highest proportion of the Artificial Lung Market?
What is the Artificial Lung Market’s competitive landscape?
What are the primary drivers assisting the Artificial Lung Market growth?
Which region has the most market share in the Artificial Lung Market?
What will be the Artificial Lung Market’s CAGR throughout the projected period?
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