Perfusion Systems Market - New Possibilities for the Stakeholders
Perfusion refers to the passage of fluid, usually blood, through the circulatory or lymphatic system to a tissue or an organ. Since poor perfusion can cause some severe health problems such as deep vein thrombosis and coronary artery disease. It has been observed that during major surgeries, particularly cardiothoracic surgeries and organ transplant, maintenance of perfusion is paramount. Static cold storage (SCS) and machine perfusion (MP) are two frequently adopted preservation processes for high-risk organs, though in the recent times, hypothermic machine perfusion (HMP) has emerged as a reliable and effective solution to meet the desired results of perfusion. More than one hundred thousand perfusion procedures are performed each year worldwide. Consequently, the demand in the global perfusion systems market is projected to expand at a healthy growth rate during the forecast period of 2017 to 2025.
Global Perfusion Systems Market: Key Trends
Increasing incidences of chronic diseases, which often lead to the requirement of organ transplant, is the primary driver of the market for perfusion systems. In addition to that, cases of organ failure due to other factors such as improper diet, smoking and consumption of alcohol, and ignorance are consistently incrementing too, which has led to the demand of effective perfusion systems. As many as 661,000 people were reported for kidney failure in the U.S. alone, as per a recent estimations made by the National Institute of Diabetes and Digestive and Kidney Diseases (NIH).
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Transplantation is the only effective treatment for organ failure that reach end-stage. With technological advancements, the success rate of organ transplant has significantly increased, and augurs well for the future of the global perfusion systems market. On the other hand, lack of donors and government regulations against paid donations is the most prominent factor hindering the growth rate of the perfusion system market. As per the statistics released by the Center for Disease Control (CDC), 75,000 people had registered for organ donations while only 8,000 actual donations were available. High cost of these surgeries is another restraining factor for this market.
Based on technology, the global perfusion systems market can be segmented into normothermic and hypothermic. On the basis of organ-type, the market can be categorized into heart, lung, liver, kidney, and others.
Global Perfusion Systems Market: Market Potential
The advent of hypothermic machine perfusion is opening new possibilities for the stakeholders of this market. HMP already accounts for the maximum share of demand in the perfusion system market for its benefits such as proven alternative for cold storage of kidney preservation and helps in increasing patient’s survival rate during the transplant. Research and development is in full swing in order to check the feasibility of HMP for the transplantation of other organs such as liver, which may further increase the potential of this market in the near future.
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Global Perfusion Systems Market: Regional Outlook
North America is the most lucrative region for the vendors operating in perfusion systems market due to increasing demand for organ transplant and cardiothoracic surgeries. Several government initiatives to raise the awareness for organ donation in the U.S. and Canada is expected to further increment the demand for perfusion systems in North America. Cost of these surgeries is hindering the expansion of the market in developing regions such as Asia Pacific.
Global Perfusion Systems Market: Competitive Landscape
Medtronic plc, Getinge AB, Lifeline Scientific, Inc., LivaNova PLC, XENIOS AG, XVIVO Perfusion AB, Spectrum Laboratories, Inc., Merck KGaA, Terumo Corporation, ALA Scientific Instruments, Repligen Corporation, and Harvard Bioscience, Inc. are some of the leading companies currently operating in the global perfusion systems market.
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