Perfusion Systems Market
Perfusion Systems Market (Product Type - Cardiopulmonary, Cell, and EX Vivo Organ; End User - Hospitals, Ambulatory Surgical Centers, and Clinics) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022
Global Perfusion Systems Market: Snapshot
The overall revenue in the global perfusion systems market is estimated to breach a billion mark by the end of 2022, which is a reflection of a number of factors such as increasing demand for organ transplantation as a result of increases geriatric population and lifestyle inflicted cardiovascular and respiratory diseases, recent technological advancements, and increased number of awareness programs run by governments and NGOs to promote organ donation. On the other hand, high cost of devices and consequently extremely high cost of organ transplant that takes it out of range of various prospect patients and the dearth of organ donation are some of the factors challenging the global perfusion systems market. Nevertheless, growing preference of continuous manufacturing and prospering pharmaceutical research in emerging markets are expected to open new opportunities for the vendors operating in this market.
The demand in the global perfusion systems market is project to increment at a CAGR of 3.4% during the forecast period of 2017 to 2022, when the market will be worth US$1,164.1 mn, substantially up from its evaluated valuation of US$985.6 mn in 2017.
Cardiopulmonary Perfusion Most Profitable Product Segment
On the basis of product type, the global perfusion systems market has been segmented into cardiopulmonary perfusion, cell perfusion, and ex vivo organ perfusion. In 2017, cardiopulmonary perfusion systems market produced a demand worth of US$537.9 mn and represented 54.6% of the overall demand in the global perfusion systems market. The cardiopulmonary perfusion systems can be further sub-segmented into heart-lung machines, perfusion pumps, cannulas, oxygenators, monitoring systems, and others. During the forecast period of 2017 to 2022, this segment is estimated to expand at a CAGR of 3.5% to reach a valuation of US$637.5 mn, which will represent 54.8% of the total demand in this market. The cardiopulmonary perfusion systems segment is producing US$19.9 mn annually over the course of the forecast period, and this absolute growth is larger than any other segment.
Based on end-users, the global perfusion systems market has been bifurcated into hospitals, ambulatory surgical centers (ASCs), specialty clinics, and others. Currently, hospitals account for the maximum share of the demand and will continue to dominate throughout the forecast period. However, ASCs are incrementing the demand in various developed regions, whereas specialty clinics are mushrooming in emerging economies.
North America to Remain Most Lucrative Region Until 2022
Geographically, this report takes stock of the potential of perfusion systems market in the regions of North America, Europe, Latin America, Asia Pacific except Japan (APEJ), and the Middle East and Africa (MEA), as well as in the country of Japan. In 2017, North America emerged as the most lucrative regional market, serving a demand for perfusion systems that was worth US$385 mn in 2017. The demand in the North America perfusion systems market has been anticipated to expand at an above-average CAGR of 3.5% during the forecast period of 2017 to 2022, by the end of which it will possess a revenue worth of US$457.8 mn. This significant demand for perfusion systems in North America is a result of increasing need for transplant surgery in the developed countries of the U.S. and Canada. As per the U.S. Department of Health and Human Services, approximately 119,000 people were waiting for various organ transplants while merely 2,555 donors are available as of April 2017. Europe is currently the second most profitable region in perfusion systems market, projected to constitute a demand for perfusion systems worth of US$337.9 mn by the end of 2022. The APEJ perfusion systems market is projected to be worth US$175.2 mn, expanding at a CAGR of 3.3% during the said forecast period.
Product Innovation to Define the Market Leader
Some of the prominent companies in the global perfusion systems market are: Hitachi Ltd., General Electricals Inc., Toshiba Corporation, Koninkliijike Philips N.V., Samsung Electronics Co, Ltd., Medtronic PLC, Shimadzu Corporation, Siemens AG, Accuray Incorporated, Organ Assist B.V., Xvivo Perfusion AB, Organ Recovery Systems, Paragonix Technologies, Inc., Waters Medical Systems, TransMedics, Inc., Bridge to Life Ltd., and OrganOx Ltd. Most of these players are involved in research and development of technologically advancement product that aid in enhanced ex vivo perfusion.
Perfusion Systems Market Attracts Research Interest during Covid-19 Pandemic
Perfusion systems have numerous applications in the biotechnology industry and find use in range of life sciences systems. They help simulate physiological conditions notably and have found extensive use in cell culture and creating tissue models physiologically relevant to disease mechanism understanding. A growing number of cell culture studies need advanced perfusion systems to maintain controlled environmental conditions. The application areas in the perfusion systems market are growing steadily. The advances in the market have become enabler for solid organ preservation, particularly the advent of cutting-edge cold perfusion systems. These systems find use in ensuring the functional integrity of solid organs such as livers, hearts, lungs, and kidneys, thus bridge the gap between organ failure patient need and the availability of organ transplant. Growing number of organ transplantation of heart and pancreas in recent years has also expanded the avenue in the perfusion systems market. Advances made in vascularized composite allotransplantation have led clinicians to test new technologies in the perfusion systems market. Past few decades have seen remarkable progress being made in improving transplantation outcomes in various solid organ transplants. Emerging 3D framework has expanded the clinical potential of new perfusion systems. A case in point is adipose tissue engineered models.
Over the past few months, the association of failure of perfusion systems in Covid-19 patients. The use of advanced imaging technologies help better understanding of perfusion abnormalities, precisely ventilation/perfusion (V/Q) mismatch. More such research is expected to pick up pace in the perfusion systems market. The focus of healthcare systems to reduce the morbidity in Covid-19 positive patients will also propel advances in perfusion systems used in hospital settings. Various imaging modalities will likely advance the care in other fatal diseases affecting lung function in coming years, boosting the clinical studies in perfusion systems market. Imaging modalities such as subtraction computed tomography (SCT) would play a bigger role.
Global Perfusion Systems Market: Overview
This report on perfusion systems market explores the current as well as future prospects of the market across the globe. The stakeholders of this report include perfusion systems and related devices manufacturing companies, organ preservation and devices providers, suppliers and distributors of perfusion systems and components, hospitals, medical colleges, biopharmaceutical industries, and research and development institutes, teaching hospitals and academic medical centers (AMCs), business research and consulting service providers, government bodies and regulatory authorities, and venture capitalists as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered in the scope of the study. This section also provides the overall information and data analysis of the global perfusion systems market with respect to the leading market segments based on major products segment, end users, and geographies.
Global Perfusion Systems Market: Key Research Aspects
The market size and forecast in terms of US$ million for each segment has been provided for the period from 2017 to 2022. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2017 to 2022, considering 2016 as the base year. The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the perfusion systems market and could influence the market in the near future. Market attractiveness analysis has been provided in the market overview section in order to explain the intensity of competition in the market across different geographies. The competitive scenario among different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global perfusion systems market.
To compute the market size, in-depth secondary research was done by the analysts of this report on the global perfusion systems market. Data points such as regional splits and market split by product type and end use type have been assimilated to arrive at the market estimates. TMR not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
Global Perfusion Systems Market: Segmentations
On the basis of product type, the global perfusion systems market has been segmented into cardiopulmonary perfusion, cell perfusion, and ex vivo organ perfusion. Based on end-users, the global perfusion systems market has been bifurcated into hospitals, ambulatory surgical centers (ASCs), specialty clinics, and others. Geographically, the report takes stock of the potential of perfusion systems market in the regions of North America, Europe, Latin America, The Middle East and Africa (MEA), and Asia Pacific except Japan (APEJ). Some of the key countries among these regions identified by the report that have considerable market for CT scanners are: the U.S., Canada, Brazil, Mexico, Germany, the U.K., France, Spain, India, China, Malaysia, Thailand, GCC countries, South Africa, and Israel, and Nigeria. For each of these countries, the report provides revenue comparison based on product type and end users.
Global Perfusion Systems Market: Competitive Landscape
Koninkliijike Philips N.V., Hitachi Ltd., Toshiba Corporation, General Electricals Inc., Waters Medical Systems, Samsung Electronics Co, Ltd., Medtronic PLC, Siemens AG, Shimadzu Corporation, Accuray Incorporated, Organ Assist B.V., Organ Recovery Systems, Xvivo Perfusion AB, Paragonix Technologies, Inc., TransMedics, Inc., Bridge to Life Ltd., and OrganOx Ltd., Spectrum Laboratories, Inc., Merck KGaA, and Getinge AB. For each of these companies, the report provides SWOT analysis, key recent developments, company’s basic business overview, strategic overview, and product offerings.