Perfusion System Market Size, Trends and Growth Analysis By Type (Cardiopulmonary Bypass, Isolated Limb Perfusion,), Application (Heart, Lung, & Others), By Device Type (Normothermic Machine Perfusion), End User and Regional Insights, Forecast To 2023
Global Perfusion System Market size is anticipated to reach USD 1,527 MN by 2023 posting approximately 4.1% CAGR throughout the assessment period (2017-2023) says Market Research Future (MRFR). The perfusion system market share is expected to witness significant growth due to increasing prevalence of chronic diseases related with heart, liver lungs, and kidneys which are the result of changing lifestyle. Over the last three decades, perfusions have evolved hugely, demonstrating remarkable advances which are leading to driving the growth of the market. Perfusion system market expected to witness enhanced growth owing to increasing awareness about associated surgeries required to managing these diseases and escalating the perfusion system market globally.
Perfusion system market is projected to witness substantial growth due to increasing population and urbanization led by the improving economic conditions that are increasingly expanding the access to the quality healthcare. Perfusion system market is anticipated to witness significant growth owing to rising consumption of alcohol, diseases due lifestyle changes and smoking which is responsible for rising cases of organ failure and boosting the growth of the perfusion system market.
On the other hand, factors such as the lack of awareness regarding perfusion systems in developing countries are impeding perfusion systems industry growth.
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Perfusion System Market Segmentation:
By Type, the global perfusion system industry has been segmented into
- Cardiopulmonary Bypass
- Extracorporeal Membrane Oxygenation
- Isolated Limb Perfusion
By Application, perfusion system market has been segmented into
By Device Type, the global perfusion systems industry has been segmented into
- Hypothermic Machine Perfusion
- Normothermic Machine Perfusion
By End the global perfusion systems industry has been segmented into
- Specialty Clinics
- Medical Research Centers
- Academic Institutes
Perfusion Systems Market Regional Analysis
North American region leading with largest perfusion system market share globally. Increasing number of organ transplant surgeries, technological advancement and high per capita healthcare expenditures are expected to spur the perfusion system market growth in the region.
The U.S. and Canada led by the rising number of chronic diseases associated with lungs, heart, liver, and kidneys lead the Perfusion system market in North America. Furthermore, the growing number of heart and kidney bypass surgeries and the growing prevalence of coronary diseases alongside the rapid uptake of advanced technologies and devices in the surgical process drive the growth in the regional market.
The European region accounts for the second-largest Perfusion system market share globally owing to increasing number of kidney & heart bypass procedures. Factors such as the availability of specialty care services in hospitals & tertiary care centers alongside the rising prevalence of cardiovascular diseases and the increasing demand for the treatment options of cardiovascular diseases escalate the perfusion system market growth in the region.
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Furthermore, the increasing healthcare expenditures led by the resurging economy in the region and spreading awareness towards bypass procedures impact the market growth in the region, positively.
The Asia Pacific Perfusion system market size is emerging as a profitable perfusion systems industry growth worldwide. Factors such as the proliferating healthcare sector along with the flourishing medical tourism market in highly populated countries like India and China drive the regional market. Also, the rising cases of patients suffering from coronary diseases, increasing geriatric populace and spreading awareness about healthcare foster the growth of the regional market.
Perfusion System Market Competitive Analysis
the major players in the global perfusion systems industry include
- Medtronic (Ireland)
- Getinge AB (Sweden)
- LivaNova PLC (U.K.)
- XENIOS AG (Germany)
- Terumo Medical Corporation (Japan)
- Lifeline Scientific Inc. (U.S.)
- Repligen Corporation (U.S.)
- XVIVO Perfusion (Sweden)
- Spectrum Laboratories, Inc. (U.S.)
- Harvard Bioscience, Inc. (U.S.)
- Merck KGaA (Germany)
- Ala Science (U.S.)
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