(I-BusinessNews.Com, May 14, 2021 ) According to research report the perfusion systems market is projected to reach USD 1,198.8 million by 2021 from USD 989.4 million in 2016, at a CAGR of 3.9% from 2016 to 2021.
Growth in the market is driven by factors such as the increasing prevalence of cardiovascular and respiratory diseases, increasing investment in cell-based research, increasing initiatives by governments and NGOs to encourage organ donation and rising activities in biologics manufacturing.
Perfusion System Market Dynamics
• Increasing prevalence of cardiovascular and respiratory diseases • Rising number of organ transplantations • Growth in Aging Population, Increasing Incidence of Multiple Organ Failures • Government and NGO Initiatives to Encourage Organ Donation • Increasing Investments in Cell-Based Research • Increase in Biologic Manufacturing
• High Cost of Organ Transplantation • Ethical Concerns and High Cost of Cell-Based Research
• Increasing Pharmaceutical Research in Emerging Markets • Rising Preference for Continuous Manufacturing
• Organ Supply-Demand Gap
Based on technique, the ex vivo organ perfusion systems market is segmented into hypothermic machine perfusion and normothermic machine perfusion. The hypothermic machine perfusion segment held the largest share of the ex vivo organ perfusion systems market in 2016 and is also projected to grow at the highest CAGR during the forecast period.
By component, the cardiopulmonary market is segmented into heart-lung machines, perfusion pumps, oxygenators, monitoring systems, cannulas, and other components. The oxygenators segment accounted for the largest share of the cardiopulmonary perfusion systems market in 2016.
The global cell perfusion systems market is segmented based on the type, as bioreactor perfusion systems, microfluidic perfusion systems, gravity or pressure-driven perfusion systems, and small-mammal organ perfusion systems. The bioreactor perfusion systems segment held the largest share of the cell perfusion systems market in 2016 and is projected to register the highest CAGR during the forecast period.
Geographically, North America is estimated to account for the largest share of the global market, followed by Europe. Asia is expected to grow at a highest CAGR during the forecast period. Factors such as increase in organ donations, growing biotechnology industry, growth in geriatric population, and increase in pharmaceutical and biotechnology R&D activities in the region are expected to drive market growth in Asia.
The major players in the cardiopulmonary perfusion systems market include Getinge AB (Sweden), Medtronic plc (Ireland), LivaNova PLC (U.K.), Terumo Corporation (Japan), and XENIOS AG (Germany). The major players in the ex vivo organ perfusion system market are Lifeline Scientific, Inc. (U.S.) and XVIVO Perfusion AB (Sweden), while, Repligen Corporation (U.S.), Spectrum Laboratories, Inc. (U.S.), Merck KGaA (Germany), Harvard Bioscience, Inc. (U.S.), and ALA Scientific Instruments, Inc. (U.S.) are some of the leading players in the cell perfusion systems market.
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