The perfusion market is growing pervasively mainly attributing to the increasing prevalence of chronic diseases associated with lungs, heart, liver, 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. Simultaneously, there has been a remarkable growth in the awareness about related surgeries required to managing these diseases which, as a result, are escalating the market on the global platform.
According to an eminent research firm, Market Research Future (MRFR) the perfusion market is growing steadily, globally, and is expected to continue growing in the years to come. In its recently published study report MRFR asserts that the global perfusion market will garner a valuation of USD 1,527 MN by 2023 posting approximately 4.1% CAGR throughout the assessment period (2017-2023).
Additionally, factors such as the increasing population and urbanization led by the improving economic conditions that are increasingly expanding the access to the quality healthcare expanding the market size of profusion. Moreover, rising cases of lifestyle diseases, smoking, and consumption of alcohol which eventually lead to increasing the cases of organ failure are boosting the growth of the market.
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Competitive Analysis
Highly competitive, the Perfusion market appears fragmented owing to the presence of several well-established market players. These players through strategic initiatives such as acquisition, partnership, expansion, product & technology launch, and collaboration, try to gain a competitive advantage and maintain their positions in the market. Huge investments are being transpired in the R&D to bring betterments in surgical procedures and to develop devices that are on a different level entirely compared to their competition.
Major Players 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), and Ala Science (U.S.) among others.
Segmentation:
The global report on the perfusion market can be segmented on the basis of type, application, device type, and end user. These segments are getting substantially backed by detailed data that are precise in their points and enriched with figures. Such a discussion would help in forming better strategic moves for the coming years.
- By Type, the global market for perfusion would include isolated limb perfusion, extracorporeal membrane oxygenation, cardiopulmonary bypass, and others. The cardiopulmonary bypass segment has sub-segments like oxygenators, perfusion pumps, heart-lung machines, cannulas, monitoring systems, and other components.
- By Application, the global market report containing details of the perfusion industry includes lungs, heart, liver, kidneys, and others.
- By Device Type, the market report on the perfusion industry has segments like normothermic machine perfusion, hypothermic machine perfusion, and others.
- By End users, the report on the perfusion market includes specialty clinics, academic institutes, medical research centers, hospitals, and others.
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Regional Analysis:
The global report on the perfusion market would include several data on various market demography and growth pockets. This would help in planning strategies to increase the profit margin. The American market is all set to dominate the global field with their superior healthcare structure, improved healthcare policies, better inclusion of top-rated products, support from various assistive sectors, and others would ensure the market gains proper backing. In Europe, government support with funding, better awareness, and other factors would ensure market growth. Countries like France, Russia, Germany, the UK, Spain, Italy, and others would make significant progress in the coming years.
The Asia Pacific region would register high growth and that would be possible due to the growing support from various emerging economies where the healthcare sector is getting boosted amply. Major players in the market are also trying to tap the huge potential of the market.
