Perfusion Market Information, By Type (Cardiopulmonary Bypass, Isolated Limb Perfusion, & Others), By Application (Heart, Lung, & Others), By Device Type (Normothermic Machine Perfusion, & Others), By End User (Hospital, & Others) - Global Forecast Till 2023
Global Perfusion Market Overview
The global Perfusion Market Share 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.
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.
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.
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.
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Global Perfusion Market Competitive Analysis
Abbott is one of the major perfusion 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.
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.
Global Perfusion Market Regional Analysis
Considering the global scenario of the perfusion market analysis, 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.
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