Perfusion systems are medical devices that oxygenate and circulate a patient's blood through the body outside the natural circulatory system. They are majorly used during complex surgeries involving vital organs like the heart, lungs and liver. Perfusion systems lower the risk of surgery and provide better outcomes for treatment of chronic diseases like chronic kidney disease (CKD) and chronic liver disease (CLD).
The global Perfusion System Market is estimated to be valued at US$ 1.93 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the global perfusion system market is the rising incidence of chronic diseases worldwide. According to the Centers for Disease Control and Prevention (CDC), chronic diseases are the leading cause of death and disability in the United States. Around 6 in 10 adults suffer from at least one chronic disease like heart disease, cancer or diabetes. As the treatment of chronic diseases often involves complex surgeries, the demand for perfusion systems from hospitals and healthcare facilities is increasing substantially. Perfusion helps in supporting organs during complex surgeries and improves surgical outcomes. Hence, the growing burden of chronic diseases is expected to accelerate the demand for perfusion systems over the forecast period.
Segment Analysis
There is a single dominant segment in the perfusion system market- organ care systems. Organ care systems hold over 60% share of the overall market as they help prolong organs viability outside the human body by simulating the body's natural environment. This allows more time for organ matching and transportation. Other important segments include cell perfusion systems and microfluidics perfusion systems though their individual shares are below 20%.
Key Takeaways
The global Perfusion System Market Share is expected to witness high growth over the forecast period of 2024 to 2031 supported by increasing organ transplantation procedures worldwide. As the waiting time for organ transplant increases due to shortage of donors, reliance on perfusion systems to maintain organs outside the body is rising. The global Perfusion System Market is estimated to be valued at US$ 1.93 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024-2031.
Regional analysis
North America leads the global market currently contributing over 40% share supported by high healthcare spending and presence of major players in the region. Asia Pacific perfusion system market is poised to grow at the fastest pace led by China and India where focus on medical infrastructure development is increasing transplant procedures. The growing geriatric population in Japan is also supporting market growth.
Key players
Key players operating in the perfusion system market are Oldcastle Inc., Cemex Inc., Lafarge North America, HeidelbergCement, Holcim Inc., Vulcan Materials Co., Colas S.A., Martin Marietta Materials, MDU Resources, and Buzzi Unicem. These players are focusing on expanding their product portfolio and geographical footprint through mergers and acquisitions to leverage revenue opportunities.
For more insights, read- https://www.newsstatix.com/perfusion-system-market-trends-size-and-share-analysis/
For more details on the report, Read- https://cmiinfopiece.blogspot.com/2024/01/plant-based-meat-market-growth.html
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