13th Nov 2020 – The ****** Perfusion System Market size is expected to value at USD 183.8 million by 2025. The market is subject to witness a substantial growth due to the rising occurrence of organ failures, and spurring demand for transplantation procedures. Additionally, rising preference towards Machine Perfusion (MP) by clinics, and healthcare professionals across the globe is expected to boost market growth in coming years. Globally, the perfusion system market is predicted to grow at a CAGR of 8.7% in forecast period, providing numerous opportunities for market players to invest in research and development in the market.
However, limited supply of resources is one of the prominent factor restraining market growth, in the recent years. Yet, recent innovation such as Machine Perfusion (MP) and Static Cold Storage (SCS) that are widely used as the preservation methods, are helping to curb this issue. Static Cold Storage (SCS) are increasingly adopted for preservation of organs, yet, they are incompetent to store high-risk organs. Emergence of Hypothermic Machine Perfusion (HMP)is considered as an effective solution to preserve high-risk organs.
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Growing demand of transplantation of human body parts is credited to rising prevalence of chronic diseases, leading to the growth of perfusion system industry. The rise in the geriatric population is attributed to the high-end demand of perfusion system, thus propelling growth of the market in recent years. Organ failure are more prominent in population above age of sixty. Additionally, rise in the number of organ failure is leading to the requirement of cost-effective solutions for organ preservation. Popularity of transplantation surgeries as a highly efficient treatment option for last-stage organ failure is on the rise. Higher success rates associated with these treatments in the recent years is estimated to boost the growth of perfusion system industry.
However, decline in number of organ donors are resulting in shortage in numerous medical facilities across the globe, thus hampering market growth to certain extent. Yet, shortage of organ donors has resulted in increased mortality rates, thus driving the demand for perfusion systems to improve organ feasibility. Increasing demand for preservation and transport facilities in cases such as last-stage organ failure and unavailability of the organ at particular medical facility, are expected to drive market progress in upcoming years. The recent technological advancement in healthcare industry are leading to the improved shelf life of organ, thus reducing mortality rates
Hypothermic Machine Perfusion (HMP) is considered as fastest growing segment in the perfusion system market with substantial revenue generation in the last couple of years. Large number of benefits associated with early adoption of Hypothermic Machine Perfusion (HMP) such as kidney preservation alongside a cold storage, are offering required level safety and improved shelf life of an organ before transplantation procedure.
During surgical procedure such as kidney transplant surgery, it aids in aggregating patient survival rate and overall success rate of the surgical procedure performed worldwide. Hypothermic Machine Perfusion (HMP) is vital for the successful recovery of grafts before surgery. These systems helps in delivering oxygenated blood to the tissues of the human body.
The key players in the perfusion system industry are Xvivo Perfusion AB, Organ Assist BV. Organ Recovery Systems, Inc., Organ Transport Systems, Inc., Waters Medical Systems LLC, Paragonix Technologies Incorporations, TransMedics Incorporations, OrganOx Ltd., and Bridge to Life Ltd.
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The perfusion system industry is divided by region such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown a high growth rate in recent years owing to the rise in the adoption of latest technologies in medical & pharmaceutical sector, increase in the demand for transplant surgeries, and existence of well-established healthcare infrastructure. Asia-Pacific region is predicted to hold major market share in the perfusion system market with massive growth in forecast period.
Countries such as India, China and Japan are leading the Asia-Pacific market with rising prevalence of chronic diseases, growing demand for organ donation and significant investment by leading industry players considering potential growth opportunities in the region.
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