Perfusion Systems Market to hit USD 2 billion by 2032, says Global Market Insights Inc.
Perfusion Systems Industry is projected to witness a CAGR of 4.6% during the period 2023-2032. This growth can be attributed to the increasing prevalence of cardiovascular and respiratory diseases.
Selbyville, Delaware, Oct. 02, 2023 (GLOBE NEWSWIRE) —
Perfusion Systems Market size is expected to be worth USD 2 billion by 2032. The ongoing advancements in perfusion system technology, including enhancing efficacy, safety, and versatility of perfusion systems will propel the industry development.
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Of late, several companies are focusing on creating sophisticated data analytics and integration capabilities to assist in improving patient outcomes and expanding their expansion potential in innovative modality applications. For instance, in December 2022 Merck, acquired Erbi Biosystems, the inventor of the 2ml micro-bioreactor platform BreezTM for strengthening its upstream portfolio in therapeutic proteins.
Normothermic Machine Perfusion segment to record considerable progress
The normothermic machine perfusion segment accounted for considerable share of the perfusion systems market in 2022 and is set to expand significantly up to 2032. This is mainly owing to the rising importance of the normothermic machine approach in revolutionizing organ transplantation by maintaining organs at near-normal physiological conditions during transport and evaluation. Benefits in resuscitating and repairing organs previously considered marginal, expanded donor pool and reduced transplant waiting times are also contributing to rising product acceptance among healthcare providers.
Heart-Lung Machines to gain significant traction
The perfusion systems market from the heart-lung machine segment is anticipated to grow at notable CAGR from 2023-2032. The escalating prevalence of cardiovascular diseases globally has boosted the demand for heart-lung machines as they are vital in cardiac surgeries for providing temporary circulatory and respiratory support. Increasing adoption during procedures, such as open-heart surgeries along with the rising advancements in technology leading to safer and more efficient outcomes will further drive the industry expansion. To cite an instance, in March 2023, the U.S. FDA granted 510(k) approval to LivaNova for its Essenz Heart-Lung Machine employed in cardiopulmonary bypass surgeries.
Ex-vivo organ perfusion systems to record high preference
The ex-vivo organ perfusion systems market is estimated to witness robust progress from 2023 to 2032 owing to their increasing application in expanding the donor organ pool for rejuvenating previously unusable organs. With the scaling demand for organ transplantation, several industry players are including ex-vivo organ perfusion systems in their product line to enhance transplant outcomes. For instance, in August 2023, TransMedics Group, Inc. acquired assets and intellectual property associated with LifeCradle Heart Preservation Transport System technology and the Ex-Vivo Organ Support System from Bridge to Life Ltd. Additionally, the surge in R&D activities for advancing organ transplantation techniques is expected to propel the segment progression.
Asia Pacific to emerge as a pivotal market destination
Asia Pacific perfusion systems market is set to witness robust expansion through 2032 driven by the increasing geriatric population. The higher incidence of cardiac and respiratory conditions in the region is necessitating the adoption of perfusion systems in surgeries. Moreover, the growing prominence of medical tourism has attracted patients seeking cost-effective and high-quality treatments, including surgeries.
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Perfusion Systems Industry Participants
Some of the major enterprises operating in the perfusion systems market are Merck KGaA, LivaNova, Bioptechs Inc., Cytiva, Getinge AB, ALA Scientific Instruments, Inc., Harvard Bioscience, Inc., Lifeline Scientific, Inc., Repligen Corporation, XVIVO Perfusion AB, Spectrum Laboratories, Inc., Terumo Corporation, Nipro Corporation, Medtronic, plc, XENIOS AG, among others.
These firms are working on capacity expansions and R&D investments for scaled revenues. For instance, in September 2022, Terumo Cardiovascular invested $42 million in Costa Rica to open its newest production unit.
Partial Table of Contents (ToC) of the report:
Chapter 3 Perfusion Systems Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
220.127.116.11 Increasing prevalence of cardiovascular and respiratory diseases
18.104.22.168 Rising number of organ transplantations
22.214.171.124 Increasing incidence of multiple organ failure among ageing population
126.96.36.199 Rising awareness regarding advance perfusion systems
3.2.2 Industry pitfalls & challenges
188.8.131.52 High cost of perfusion systems
184.108.40.206 Ethical Concerns related to cell – based research
3.3 Growth potential analysis
3.3.1 By technique
3.3.2 By component
3.3.3 By application
3.3.4 By end-use
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.6 Key market trends
3.7 Reimbursement scenario
3.8 Technology landscape
3.9 Future market trends
3.10 Value chain analysis
3.11 Gap Analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.2 Company matrix analysis, 2022
4.3 Global company market share analysis, 2022
4.4 Vendor matrix analysis
4.5 Competitive positioning matrix
4.6 Strategy dashboard, 2022
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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