Perfusion System Market: North America Dominated With The Highest Revenue Share
Perfusion System Industry Overview
The global perfusion system market size was valued at USD 1.02 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030. Factors such as an increase in the prevalence of cardiovascular and respiratory diseases, a rise in the number of organ transplants, growth in the geriatric population, and increasing cases of organ failures are expected to drive the growth of the market. Factors such as growing investment in cell-based research, government & NGO initiatives to encourage organ donations, and a rise in biologics manufacturing are also expected to boost the market growth in the coming years. The COVID-19 pandemic had a slightly negative impact on the market. While cardiac surgeries were still carried out due to their chronic and life-threatening nature, there was a significant drop in the number of organ donations and transplants due to government-imposed lockdowns and restrictions. Thus, the market experienced a significant fall in perfusion system sales during the pandemic.
Gather more insights about the market drivers, restrains and growth of the Global Perfusion System market
Moreover, these lockdowns and restrictions disrupted the manufacturing processes as well as the overall supply chain across industries. They also resulted in disruption of research and development activities, which potentially led to the postponement of the launch of new products in the market. In addition, reduced patient visits to hospitals as a precautionary measure to avoid contracting the virus also had a significant negative impact on the industry.
However, with the world now returning to normalcy and countries majorly focusing on strengthening their healthcare setup, the market for perfusion systems is expected to continue generating a significant amount of revenue during the forecast period. With the imminent launch of new products, the market is expected to experience a pre-COVID growth rate during the forecast period.
A rise in the prevalence of cardiac and respiratory diseases is majorly contributing to the growth of the perfusion system market. Factors such as increasing consumption of processed food, a reduction in physical activity, and an increase in the overall lifespan of individuals, resulting in an increase in the geriatric population, are responsible for a rise in the prevalence of these disorders. According to the CDC’s 2022 data, in the U.S., every year about 805,000 people have a heart attack, and out of this, 605,000 people experience it for the first time.
A rise in the number of organ transplants is another factor that is expected to boost the market growth to a great extent during the forecast period. According to the preliminary data from the United Network of Organ Sharing, in 2021, the U.S. observed a 5.9% rise in organ transplants from 2020. The data also stated that, in 2021, around 13,861 Americans became deceased organ donors.
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Perfusion System Market Segmentation
Grand View Research has segmented the global perfusion system market based on application and region:
Perfusion System Application Outlook (Revenue, USD Million, 2017 - 2030)
- Cardiopulmonary Perfusion System
- Oxygenators
- Heart-lung Machine
- Perfusion Pumps
- Cannula
- Monitoring System
- Others
- Cell Perfusion System
- Bioreactor Perfusion System
- Microfluidic Perfusion System
- Gravity/Pressure-driven Perfusion System
- Small Mammal Organ Perfusion System
- Ex-vivo Organ Perfusion System
- Hypothermic
- Normothermic
Perfusion System Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- April 2022: LivaNova announced the commercial launch of the Essenz patient monitor. The monitor uses a patient-tailored approach to improve the efficiency and quality of care during cardiopulmonary bypass (CPB) procedures.
Key Companies profiled:
The following are some of the major players operating in the global perfusion system market:
- Getinge AB
- Medtronic, plc
- LivaNova
- Terumo Corporation
- Nipro Corporation
- XENIOS AG
- Repligen Corporation
- Spectrum Laboratories, Inc.
- Merck KGaA
- Harvard Bioscience, Inc.
- ALA Scientific Instruments, Inc.
- Lifeline Scientific, Inc.
- XVIVO Perfusion AB
Order a free sample PDF of the Perfusion System Market Intelligence Study, published by Grand View Research.
About Grand View Research
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