Getinge plans to phase out its surgical perfusion business in a move expected to benefit major players such as LivaNova, which are looking to strengthen their positions in the cardiopulmonary bypass equipment (CPBE) market. The CPBE market was worth $508.2 million in 2024 and is expected to reach $583.5 million in 2034 with a compound annual growth rate (CAGR) of 1.2%, according to GlobalData, a leading data and analytics company.
The plan is a result of the overall low market share that the company has occupied in this space. This development will likely be to the advantage of major players in the CPBE market such as LivaNova, which occupies an estimated 50.3% of the market share and continues to make gains with its Essenz heart-lung machine. Getinge covers only 1.9% of the CPBE market, but LivaNova is likely aiming to acquire that section of the market as well.
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Getinge intends to reallocate resources and focus on investing in more lucrative areas that show higher growth potential, like extracorporeal membrane oxygenation (ECMO). This move is not likely to have a major effect on the CPBE market, but may prove to be a positive decision for Getinge considering the company’s struggles in this area.
The demand for cardiopulmonary bypass products is likely to increase due to a growing ageing population causing an increased prevalence of cardiovascular diseases, as well as advancements in technology being applied to these devices. Some barriers to growth may be the high cost of these procedures, along with potential healthcare cost-cutting and reimbursement cuts. Despite these challenges, the CPBE market is expected to sustain stable growth.
While Getinge’s decision to let go of the CPBE market appears to be the proper choice based on its past performance, we can expect LivaNova to continue to dominate this continually growing market and capitalise on this small vacuum of opportunity that Getinge has provided for them.
