Global Perfusion System Market Size USD 1.67 Million By 2030 | CAGR of 4.95%

Introduction

The global perfusion system market was valued at USD 1.062 billion in 2021 and is projected to reach USD 1.64 billion by 2030, registering a CAGR of 4.95% from 2022 to 2030.

Perfusion can be described as the delivery of oxygenated blood to the body's tissues. Organ transplants rely heavily on perfusion systems, which help replace the organ's function by pumping blood throughout the body throughout the operation. In recent years, the worldwide perfusion system market has expanded profitably due to the increasing number of organ transplants and the number of new products introduced by industry leaders. As of July 2017, the Organ Procurement and Transplantation Network (OPTN) reported that in the United States, over 117,000 men, women, and children were on the national transplant waiting list, and 17,155 organ transplants had been done as of July 2017.

Market Dynamics

The increasing number of approvals and launches of new perfusion systems

Increasing approvals and releases of innovative perfusion systems will drive market expansion in the near future. In 2014, the FDA authorized Xvivo Perfusion AB's XPS with STEEN solution for preserving originally rejected donor lungs while they are evaluated as transplantable organs. In February 2018, Europe approved Paragonix's SherpaPak and SherpaPerfusion cardiac transport systems. SherpaPak Cardiac Transport System is used for hypothermic static storage and transport of donor’s hearts, while SherpaPerfusion Cardiac Transport System is a single-use, disposable device. Increasing investment by industry leaders should also boost the global perfusion system market. In January 2018, Miracor Medical Systems GmbH (Miracor Austria) and Miracor Medical SA (Miracor Medical) raised $26.3 million. The funds will be used to develop and market PiCSO Impulse. Increasing organ transplants are predicted to boost the market for perfusion systems. According to the National Kidney Foundation, 100,791 Americans are waiting for kidney transplants in 2016.

High cost of perfusion systems

The high price of perfusion systems is anticipated to be the primary factor impeding the expansion of the global perfusion system market. According to 2016 data given by the National Institute for Health and Care Excellence, the cost of a single-use Organ Care System (OCS) Heart Perfusion Set is around US$ 36,904.8, which is prohibitively expensive for developing nations such as India, China, and Africa.

The rise in demand for organ transportation

It is anticipated that the increased demand for organ transplantation would raise the demand for dependable organ perfusion systems. In addition, the prevalence of cardiovascular and respiratory disorders is increasing globally, which increases the demand for organ transplants. In 2018, there were 3,408 heart transplants, as reported by the Division of Transplantation (DoT) of the Health Resources and Services Administration's Healthcare Systems Bureau of the Department of Health and Human Services. As a result of the increased need for organ transplantation and the incidence of cardiovascular and respiratory disorders, the market is anticipated to experience rapid expansion.

Regional analysis of the global perfusion system market

The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.

It is anticipated that North America will have a leading position in the global perfusion system market due to the high concentration of key companies and their expanding partnerships to expand their product's reach in the region. In 2016, for instance, the U.S.-based medical device manufacturer Medtronic plc partnered with Spectrum Medical Ltd. to distribute Spectrum Medical's innovative Quantum Perfusion Systems in Canada and other locations. In 2017, Paragonixc Technologies, Inc. signed a strategic distribution deal with MBA Medical to offer SherpaPak Cardiac and Kidney Transport Systems in the southern United States. In addition, Europe is anticipated to have considerable growth in the global perfusion system market due to the region's rising approvals of novel perfusion systems. Limflow SA acquired CE marking in 2016 for their most recent percutaneous LimFlow System intended for venous arterialization of the lower limbs in patients with end-stage danger of limb amputation due to Critical Limb Ischemia.

Key Highlights

• The global perfusion system market was valued at USD 1.062 billion in 2021 and is projected to reach USD 1.64 billion by 2030, registering a CAGR of 4.95% from 2022 to 2030.
• The cardiopulmonary perfusion system held the highest revenue share of more than 43% in 2021
• North America is expected to hold a dominant position in the global perfusion system market

Competitive Players

1. Bridge to Life (Europe) Ltd.
2. Organ Assist B.V.
3. Organ Recovery Systems, Inc,
4. OrganOx Limited
5. Paragonix Technologies, Inc.
6. Preservation Solutions Inc.
7. TransMedics, Inc.
8. Waters Medical Systems LLC
9. XVIVO Perfusion AB

Recent Developments

• In November 2022, The pivotal Bridge to HOPE Liver Clinical Trial's preliminary results was announced by Bridge to Life Ltd.
• In January 2023, the First US patient was enrolled by OrganOx for a post-approval study.
• In October 2022, the Launch of a Vast Digital Platform by Paragonix for Real-Time Monitoring of Donor Organs for Transplantation.

Segmentation

1. By Product Type
   1. Cardiopulmonary Perfusion Systems
   2. Ex Vivo Organ Perfusion Systems
   3. Cell Perfusion Systems
2. By Component
   1. Heart-Lung Machines
   2. Perfusion Pumps
   3. Oxygenators
   4. Monitoring Systems
   5. Cannulas
   6. Others
3. By End-User
   1. Hospitals
   2. Ambulatory Surgery Centers
   3. Others