The Perfusion System Market is estimated to be valued at US$ 1.07 billion in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Perfusion System Market facilitates the maintenance and preservation of organs during transplantation. These systems play a crucial role in sustaining organs by continuously supplying oxygenated blood and preservation solutions to maintain their viability. Perfusion systems offer several advantages, including improved organ transportation and extended preservation time. They are extensively used in heart, lung, liver, and kidney transplants. Rapid advancements in perfusion technologies, such as normothermic and hypothermic perfusion systems, have revolutionized the organ preservation process.
Market Dynamics:
The growing demand for organ transplants is one of the major drivers stimulating market growth. Factors such as an increasingly aging population, rising incidence of organ failure, and advancements in surgical techniques have boosted the demand for perfusion systems. Additionally, the technological advancements in perfusion systems, such as the use of machine learning algorithms and artificial intelligence, are expected to further propel market growth. These advancements allow for real-time monitoring and optimization of perfusion parameters, improving the overall transplant success rate. Organ preservation solutions and perfusion cannulas are among the key components driving market growth. These components enable effective organ preservation and transportation, ensuring a higher success rate of transplantation procedures.
Segment Analysis:
The Global Perfusion System Market can be segmented based on product type, technique, and application. On the basis of product type, the dominating segment is the cardiopulmonary perfusion system. This segment is dominating due to the increasing prevalence of cardiovascular diseases and the growing number of heart transplant procedures. Cardiopulmonary perfusion systems are used to maintain blood circulation and supply oxygen to vital organs during cardiac surgeries, making them a crucial component in these procedures.
PEST Analysis:
- Political: Governments across the globe are focusing on improving healthcare infrastructure and providing better access to healthcare services, which is expected to drive the demand for perfusion systems.
- Economic: The increasing prevalence of chronic diseases, such as cardiovascular diseases, is driving the demand for perfusion systems. Additionally, the growing number of transplant procedures is contributing to market growth.
- Social: The rise in geriatric population, along with changing lifestyle patterns and unhealthy habits, has led to an increase in the incidence of chronic diseases, thereby driving the demand for perfusion systems.
- Technological: Advancements in technology, such as the development of portable perfusion systems and the integration of artificial intelligence, are improving the efficiency and effectiveness of perfusion systems.
Key Takeaways:
The global perfusion system market is expected to witness high growth, exhibiting a CAGR of 4.7% over the forecast period. This growth can be attributed to increasing prevalence of cardiovascular diseases and the growing number of heart transplant procedures. Regionally, North America is the fastest growing and dominating region in the market due to the presence of advanced healthcare infrastructure and high healthcare expenditure. Key players operating in the perfusion system market include XVIVO Perfusion AB, Paragonix Technologies, Inc., Organ Assist B.V., Organ Recovery Systems, Organ Transport Systems, Waters Medical Systems, TransMedics, Inc., OrganOx Limited, and Bridge to Life Ltd.
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The global Perfusion System Market size is expected to value at USD 183.8 million by 2025.
Additionally, rising preference towards Machine Perfusion (MP) by clinics, and healthcare professionals across the globe is expected to boost market growth in coming years.
Globally, the perfusion system market is predicted to grow at a CAGR of 8.7% in forecast period, providing numerous opportunities for market players to invest in research and development in the market.However, limited supply of resources is one of the prominent factor restraining market growth, in the recent years.
Static Cold Storage (SCS) are increasingly adopted for preservation of organs, yet, they are incompetent to store high-risk organs.
Emergence of Hypothermic Machine Perfusion (HMP)is considered as an effective solution to preserve high-risk organs.Growing demand of transplantation of human body parts is credited to rising prevalence of chronic diseases, leading to the growth of perfusion system industry.
Additionally, rise in the number of organ failure is leading to the requirement of cost-effective solutions for organ preservation.
The global Perfusion System Market size is expected to value at USD 183.8 million by 2025.
Globally, the perfusion system market is predicted to grow at a CAGR of 8.7% in forecast period, providing numerous opportunities for market players to invest in research and development in the market.However, limited supply of resources is one of the prominent factor restraining market growth, in the recent years.
Yet, recent innovation such as Machine Perfusion (MP) and Static Cold Storage (SCS) that are widely used as the preservation methods, are helping to curb this issue.
Static Cold Storage (SCS) are increasingly adopted for preservation of organs, yet, they are incompetent to store high-risk organs.
Higher success rates associated with these treatments in the recent years is estimated to boost the growth of perfusion system industry.However, decline in number of organ donors are resulting in shortage in numerous medical facilities across the globe, thus hampering market growth to certain extent.
Large number of benefits associated with early adoption of Hypothermic Machine Perfusion (HMP) such as kidney preservation alongside a cold storage, are offering required level safety and improved shelf life of an organ before transplantation procedure.During surgical procedure such as kidney transplant surgery, it aids in aggregating patient survival rate and overall success rate of the surgical procedure performed worldwide.
24 March 2020: Global Perfusion System Market Research Report includes In-depth Analysis of industry by recent technologies, trends, opportunities, challenges, key players and business strategies considering types, segment, and future analysis.
The Perfusion System Market Report Provides Growth History, Sales Channel, Manufacturers Profiled in Perfusion System Business, Market Share of Product, Application and Regional Scope of Perfusion System which makes the research report a helpful resource for marketing people, forecasters, industry executives & consultants, sales, product managers, Strategy Advisor, potential investors to understand the present as well as future market size, situations in terms of growth rate and revenue.
Organ Recovery Systems, Inc., Organ Transport Systems, Inc., Waters Medical Systems LLC, Paragonix Technologies Incorporations, TransMedics Incorporations, OrganOx Ltd., and Bridge to Life Ltd. Get a Free Sample Copy of Report @ https://www.millioninsights.com/industry-reports/perfusion-system-market/request-sample The global Perfusion System Market size is expected to value at USD 183.8 million by 2025.
Additionally, rising preference towards Machine Perfusion (MP) by clinics, and healthcare professionals across the globe is expected to boost market growth in coming years.
However, limited supply of resources is one of the prominent factor restraining market growth, in the recent years.
Static Cold Storage (SCS) are increasingly adopted for preservation of organs, yet, they are incompetent to store high-risk organs.
