Oxygenators Market Size, Share & Trends Analysis Report Based On Type (Bubble Oxygenators, Membrane Oxygenators), Based On Application (Respiratory, Cardiac) and By Region (North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2026-2034

Oxygenators Market Size

The global oxygenators market size was valued at USD 270.94 million in 2025 and is projected to grow from USD 284.84 million in 2026 to USD 425.02 million by 2034, registering a CAGR of 5.13% during the forecast period from 2026 to 2034. North America dominated the oxygenators market with a market share of 38.5% in 2025.

Factors such as increase in the prevalence of cardiopulmonary disorders and rise in healthcare expenditure worldwide, significantly drives the oxygenators market by 2030. The advancement of the global oxygenators market is primarily driven by the worldwide prevalence of coronary heart diseases and strokes as a result of changing lifestyles, which has resulted in an increase in surgical interventions and the increased majority of the geriatric population.

• Based on a report by the United Nations, the percentage of the world's older population increased from 6 % to 9 % in 2019. In addition, it is projected to increase to 16 % by 2050, when one out of every six people will be 65 or older. Changes in livelihood and the ageing of the population contribute to the prevalence of chronic diseases.
• According to the 2018 Global Asthma Report, approximately one thousand people per day are being killed by Asthma, and about 339 million people worldwide live with Asthma. The prevalence of Asthma is on the rise, with the most severe cases occurring in low- and middle-income countries.
• New product launches based on emerging collaboration, mergers and acquisitions, and regional expansion are these industry participants' most critical strategic initiatives.
• As a result of developing innovative solutions, the studied market is anticipated to experience significant growth rates.

Type Insights

Membrane oxygenator is expected to have a revenue share of USD 333 million with a CAGR of 6% during 2030. A membrane oxygenator is a device that adds oxygen to the blood and removes carbon dioxide. The diffusion of oxygen and carbon dioxide across a microporous hollow fibre bundle is how membrane oxygenators functions. The device comprises an oxygenation chamber with a microporous membrane and an impermeable capillary-based heat exchanger. These oxygenators have the advantage over bubble oxygenators in reducing damage and thrombosis. This is anticipated to spur the market further.

The membrane oxygenator segment is anticipated to proliferate due to their increasing use in CABG procedures, extracorporeal circulation for cardiopulmonary support in various surgical procedures, and heart-lung machines due to advantages such as reduced tissue damage and thrombosis compared to bubble oxygenators. Owing to technological advancements, bubble oxygenators are being gradually replaced by membrane oxygenators.

The bubble oxygenator is anticipated to have a market share of USD 37 million with a CAGR of 2% over the projected period.

A bubble oxygenator is a device that bubbles pure oxygen through the blood reservoir. It engages bubbles that are directly introduced into the blood. Due to the surface area of the bubbles, the effective surface area for gas exchange is significantly increased. In addition to their benefits, bubbles that induce red cell trauma also have disadvantages. In addition, bubbles must be eliminated from the circuit, which requires a settling chamber and may necessitate an increase in circuit volume.

Request Customizationto receive a tailored report.

Application Insights

Based on application, the market is categorized as respiratory and cardiac. The respiratory segment is expected to have a share of USD 228 million with a CAGR of 6%. The increasing occurrence of respiratory diseases across the globe is a significant factor driving the growth of the oxygenators market. The ability of oxygenators to serve as a substitute for lungs during surgical procedures, in which they are designed to expose the blood to oxygen and remove carbon dioxide, is anticipated to further stimulate the market.

With a CAGR of 4%, the cardiac segment will have a market share of USD 111 million by 2025.

There has been a global increase in cardiovascular diseases, which are the leading causes of death. World Health Organization (WHO) statistics for 2020 indicated that ischemic heart disease is responsible for 16% of deaths worldwide. Additionally, an estimated 8.9 million deaths were attributed to ischemic heart disease in 2019. The increasing prevalence of cardiovascular diseases leads to an increase in cardiopulmonary surgeries, coronary artery bypass grafting (CABG), and, consequently, the demand for oxygenators.

Speak to an Analystto discuss market opportunities.

Regional Insights

North America will command the market with the largest share of USD 206 million and a CAGR of 5% during the forecast period. The United States is witnessing advancement in the prevalence of cardiopulmonary and respiratory diseases. Increasing technological advances in the country are anticipated to drive the oxygenators industry. According to the 2018 American Heart Association Research Report, one out of every seven deaths in the United States is attributable to heart disease. According to the 2018 Global Health and Wellness Report, nearly 40 per cent of adults in the United States were diagnosed with a cardiovascular condition.

The oxygenators industry is anticipated to experience substantial growth in the coming years due to the high death rates associated with Asthma and the rising investments in asthma treatment in the United States.

Unlock Regional Insightsto access country-level data, & regional trends.

Europe Oxygenators Market Trends

During the forecast period, Europe is anticipated to have a share of USD 116 million with a CAGR of 5%. The increasing geriatric population, cardiovascular and chronic obstructive pulmonary diseases (COPDs), and technological advances in the miniaturization of oxygenators are vital factors that can drive the market during the forecast period. The presence of well-established market participants in the region also contributes to the market's growth potential.

List of Key and Emerging Players in Oxygenators Market