Perfusion System Market Will Generate Massive Revenue In Future - A Comprehensive Study On Key Players XVIVO Perfusion AB, Paragonix Technologies, Inc., Organ Assist B.V., Organ Recovery Systems, Organ Transport Systems

Perfusion can be defined as a process of delivering oxygenated blood to the tissues of the body. Perfusion systems are majorly employed in organ transplant surgeries, as they help replace the function of the organ during the operation by pumping blood throughout the body. Over the recent past, the global perfusion system market has witnessed lucrative growth due to the increasing product launches by key players in market and the increasing number of organ transplants. For instance, according to data published by Organ Procurement and Transplantation Network (OPTN), in the U.S., over 117,000 men, women, and children were on the national transplant waiting list, as of July 2017 and 17,155 organ transplants were performed till July 2017.

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Perfusion System Market Drivers

Increasing number of approvals and launches of new perfusion systems is expected to be major factor influencing growth of the perfusion system market in near future. For instance, in 2014, U.S. Food and Drugs Administration approved Xvivo Perfusion AB’s Xvivo Perfusion System (XPS) with STEEN solution, used in preserving initially unacceptable donor lungs while they are being evaluated as potentially viable transplantable organs. In February 2018, Paragonix Technologies, Inc. received approval for its new Paragonix SherpaPak Cardiac Transport System and SherpaPerfusion Cardiac Transport System in Europe. The SherpaPak Cardiac Transport System is used for the hypothermic static preservation and transport of donor hearts, and the SherpaPerfusion Cardiac Transport System consists of a single-use, disposable device for hypothermic oxygenated perfusion preservation and transport of donor hearts.

The increasing investment by major key players in the market is also expected to fuel growth of the global perfusion system market in the near future. For instance, in January 2018, Miracor Medical Systems GmbH (Miracor Austria) and Miracor Medical SA (Miracor Medical) raised around US$ 26.3 Mn as part of a Series D financing round. The raised amount will be used in the development and commercialization of PiCSO Impulse System. Furthermore, the increasing demand for organ transplants is also expected to increase demand for perfusion system and increase its market growth in near future. For instance, according to the data published by National Kidney Foundation as of 2016, around 100,791 people in the U.S. are waiting for kidney transplants.

Perfusion System Market Taxonomy:

The global perfusion system market is segmented on the basis of product type, component, end user, and region:

By Product Type –

Cardiopulmonary Perfusion Systems
Ex Vivo Organ Perfusion Systems
Cell Perfusion Systems

By Component -

Heart-Lung Machines
Perfusion Pumps
Oxygenators
Monitoring Systems
Cannulas
Others

Perfusion System Market Regional Analysis

North America is expected to hold a dominant position in the global perfusion system market due to high presence of key players and increasing collaborations among them to expand their product’s reach in the region. For instance, in 2016 Medtronic plc., a U.S. - based medical device company, entered into a strategic partnership with Spectrum Medical Ltd. for the distribution of Spectrum Medical’s new Quantum Perfusion Systems in Canada and other regions. In 2017, Paragonixc Technologies, Inc. entered into a strategic distribution agreement with MBA Medical to market Paragonix Technologies’ SherpaPak Cardiac and Kidney Transport Systems, in the Southern part of U.S. Furthermore, Europe is expected to witness significant growth in the global perfusion system market, owing to increasing approvals of new perfusion systems in the region. In 2016, Limflow SA received CE marking for its latest percutaneous LimFlow System designed for venous arterialization of the lower limbs for patients with end-stage risk of limb amputation for Critical Limb Ischemia.

Perfusion System Market Key Players

Key players operating in the perfusion system market include XVIVO Perfusion AB, Paragonix Technologies, Inc., Organ Assist B.V., Organ Recovery Systems, Organ Transport Systems, Waters Medical Systems, TransMedics, Inc., OrganOx Limited, and Bridge to Life Ltd.

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