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Global Pediatric Perfusion Market: Overview

Pediatric congenital heart surgery has been carried out for the last four decades using pediatric perfusion devices. Around 20,000 pediatric open heart surgeries are performed in North America each year. According to several surveys, maximum open heart surgeries are conducted in children aged under 1 year. Pediatric perfusion devices are mechanical support devices used in open heart surgeries to bypass the blood from heart and lung and regulate blood circulation.

Global Pediatric Perfusion Market: Key Trends

The global pediatric perfusion market is primarily driven by rise in cases of cardiac birth defects (especially congenital heart diseases) across the world. Additionally, the global market is propelled by increase in the diagnosis rate of pediatric respiratory diseases and surgery cases. However, stringent regulatory guidelines for pediatric perfusion devices and unavailability of pediatric heart surgeons are projected to hamper the growth of the global market. The global pediatric perfusion devices market has been evolving due to technological advancements. Moreover, mergers and acquisitions among major players and increase in research and development expenditure by key companies are expected to augment the global pediatric perfusion market during the forecast period.

Global Pediatric Perfusion Market: Segmentation

The global pediatric perfusion market can be segmented based on product type, target group, end-user, and region. In terms of target group, the global market can be classified into neonates, infants, and small children. Based on product type, the global pediatric perfusion market can be divided into pediatric oxygenation systems, blood pumps & flow probes, arterial filters, extracorporeal circuits, cardioplegia circuits, and other products and accessories. In terms of end-user, the global market can be categorized into hospitals & ambulatory surgery centers, specialized clinics, and others.

Global Pediatric Perfusion Market: Regional Analysis

Geographically, the global pediatric perfusion market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to the CDC, congenital heart diseases affect approximately 1% of the total pediatric population in the U.S. each year. The prevalence of mild congenital heart diseases has increased in the country in the past five years, whereas prevalence of severe congenital heart diseases has been stable. According to the Cincinnati Children’s hospital, more than 20,000 pediatric open heart surgeries are performed in the U.S. each year. North America captured the largest share of the global pediatric perfusion devices market owing to high prevalence of congenital heart diseases in the U.S., increase in diagnosis rate of congenital heart diseases, high open heart surgery rate, and well-established health care infrastructure.

Germany, France, and the U.K. accounted for major shares of the pediatric perfusion market in Europe in 2018. The market in Italy and Spain is expected to witness significant growth during the forecast period. Highly developed health care industry, high rate of diagnosis and treatment of congenital heart diseases, availability of sophisticated instruments in hospitals, and presence of ambulatory surgery centers are the key factors attributed to high market shares of Germany, France, and the U.K.

China and Japan held dominant shares of the pediatric perfusion market in Asia Pacific in 2018. The market in India is projected to expand at a high CAGR in the next few years, owing to large population of newborns and developing health care industry. Underdeveloped health care infrastructure and unavailability of skilled pediatric surgeons are anticipated to hamper the growth of the pediatric perfusion market in Latin America and Middle East & Africa during the forecast period.

Global Pediatric Perfusion Market: Competitive Landscape

Key companies in the global pediatric perfusion market are Medtronic, Terumo Cardiovascular Systems Corporation, LivaNova plc (Sorin Group), BL Lifesciences, and Eurosets, among others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Pediatric Perfusion Market

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