Healthcare Research

2019 Global Perfusion Market Size- Industry Share, Growth, Recent Trends and Forecast 2023

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Global Perfusion Market – Overview

The global perfusion market has been evaluated as a steadily growing market and it is expected to continue growing in future as well. Increasing incidence of chronic diseases and related organ transplants are major drivers for this market’s growth. Moreover, technological advancements and the success rate of organ transplant has significantly increased, which is leading to the growth of this market.

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Increasing demand of new perfusion techniques from emerging markets of Asia, Latin America, and Eastern Europe are contributing to the growth of the global perfusion market. On the other hand, lack of donors and government regulations against paid donations are some of the factors hindering this market’s growth.  According to the World Health Organization (WHO), in 2015, over 17.7 million people died from cardiovascular diseases, representing 31% of all global deaths.

Due to rising prevalence of cardiovascular diseases have gained a huge attention of people across the globe. Moreover due to increasing number of death from cardiovascular diseases, number of companies are in a race to introduce better devices and accessories for the treatment. Diabetes & obesity are the major causes for cardiovascular diseases. Increasing number of patients suffering from these diseases lead to increase in the prevalence of cardiovascular diseases, ultimately increasing the demand for the cardiovascular devices which will fuel the growth of the market.

According to findings from the WHO, in 2015, 82% of the total deaths were occurred in low- and middle-income countries. According to the Centres for Disease Control and Prevention (CDC), in 2015, over 630,000 Americans die from heart disease each year, which accounted for 1 in every 4 deaths. According to findings from the WHO in 2014, approximately 422 million people suffered from diabetes. Beside this, globally 39% of adults aged 18 years and over were overweight in 2016, and 13% were obese.

Global Perfusion Market – Segments      

Global perfusion market has been segmented on the basis of type which comprise of cardiopulmonary bypass, extracorporeal membrane oxygenation, isolated limb perfusion and others. Cardiopulmonary bypass is further sub-segmented into heart-lung machines, oxygenators, perfusion pumps, monitoring systems, cannulas, and other components.

On the basis of application, it is segmented into lungs, heart, liver, kidneys and others. On the basis of device type, the market has been segmented into hypothermic machine perfusion, normothermic machine perfusion and others. On the basis of end user, it is segmented into hospital, specialty clinics, medical research centers, academic institutes, and others.

 Global Perfusion Market – Regional Analysis

Considering the global scenario of the perfusion market, there are four main regions namely America, Europe, Asia Pacific, and Middle East & Africa.

The Americas mainly includes North America and Latin America. North America is holding the largest market share. Increasing demand of organ transplant, cardiothoracic surgeries and advanced healthcare facilities are driving the growth of the North America perfusion market. European region is the second important market, especially West European countries which are dominating this region. Eastern European countries are also showing significant growth in this market. This is due to the increasing expenditure on healthcare and related services along with government’s initiative for organ donations, this has led to a rapid growth in this market in the Asia Pacific region. Talking about the perfusion market scenario in Middle East & Africa, these regions are expected to have limited growth in the global market of perfusion. Middle East accounts for the largest market share while Africa region is growing steadily.

Global Perfusion Market – Competitive Analysis

Getinge AB (Sweden), Medtronic (Ireland), LivaNova PLC (U.K.), Terumo Medical Corporation (Japan), XENIOS AG (Germany), Lifeline Scientific, Inc. (U.S.), XVIVO Perfusion (Sweden), Repligen Corporation (U.S.), Spectrum Laboratories, Inc. (U.S.), Abbott (U.S.) Merck KGaA (Germany), Harvard Bioscience, Inc. (U.S.), Ala Science (U.S.) are some of the prominent players at the forefront of competition in the Global Perfusion Market and are profiled in MRFR Analysis.   

Abbott is one of the major market leader in the market with a share of 9.78% in 2016. The company adopted the strategy of FDA approvals, and acquisition to solidify its position in the market. Additionally, the company has a huge product portfolio and good brand identity.

Sep-17   – Abbott Company has got approval for MRI compatibility on ellipse ICD.

Oct-17   Medtronic Company has got FDA approval & U.S. launch of next generation pacemakers (Azure)

Oct-17   – Medtronic and Mercy announce sharing partnership to accelerate medical device innovation

Aug-17   –   Abbott USFDA had approved the first insertable cardiac monitor the world’s first smartphone compatible ICM designed to help physicians remotely identify cardiac arrhythmias

Aug-17   – Abbott Company entered into an agreement with Roxwood Medical for product distribution in the U.S.

Jan-17   – Abbott Company acquired St. Jude Medical to strengthen its medical device leadership with innovations in cardiovascular and neuromodulation segments

Jan-17   – General Electric Company   had acquired Rapidscan Pharma Solutions Inc

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This post was originally published on Trading Herald