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(Medical-NewsWire.com, April 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.
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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.
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.
Major Market Developments:
> In January 2015, Medtronic acquired Covidien plc. (Ireland), a manufacturer of healthcare products for use in clinical and home settings worldwide. This acquisition aims to strengthen Medtronic’s customer base and resolve healthcare challenges with constant product development and imbibing new technologies.
> In October 2015, Sorin merged with Cyberonics Inc (US) to form a global medical technology company—LivaNova PLC (U.K.).
> In February 2014, Sorin acquired Bioengineering Laboratories S.p.A. (BEL), a manufacturer of cardiac surgery cannulas. This acquisition is expected to strengthen Sorin’s position in the cardiovascular cannulas market segment.
> In September 2016, Terumo partnered with CytoSorbents Corporation (US), a manufacturer of the CytoSorb extracorporeal blood purification adsorber. Under this partnership, Terumo commercialized the CytoSorb extracorporeal blood purification adsorber for cardiac surgery applications in France, Sweden, Denmark, Norway, Finland, and Iceland.
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.
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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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