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Perfusion Systems Market Outlook, Growth Report And Forecast 2033
Perfusion Systems Market Outlook
According to The Business Research Company's, The perfusion systems market size has grown rapidly in recent years. It will grow from $1.24 billion in 2023 to $1.36 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to foundational research in perfusion science, introduction of hypothermia techniques, inception of cardiopulmonary bypass, early heart-lung machine development.
The perfusion systems market size is expected to see strong growth in the next few years. It will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to focus on patient outcomes, rise in cardiovascular surgeries, expansion of minimally invasive procedures, increased ecmo usage, global healthcare infrastructure development, growing geriatric population. Major trends in the forecast period include portable and compact designs, automation and robotics integration, remote monitoring and telemedicine, modular and customizable platforms, advanced data analytics and ai.
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Market Drivers and Trends:
The rising number of organ transplants is expected to propel the growth of the perfusion systems market going forward. Organ transplants refer to a surgical procedure where a diseased or damaged organ is removed from a donor and transplanted into a recipient who needs it due to organ failure or disease. Perfusion systems are used to preserve and transport organs during the transplantation process, and play a critical role in maintaining the viability of the donated organs. For instance, in January 2021, according to Organ Procurement And Transplantation Network, a US-based non-profit organization, 41,354 organ transplants were performed in the US. This represents a 5.9 % increase over the number of transplants performed in 2020. Therefore, the rise in the number of organ transplants is driving the demand for the perfusion systems market.
Product innovation has emerged as a key trend gaining popularity in the perfusion systems market. Major market players operating in perfusion systems are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in February 2023, LivaNova, a UK-based provider of neuromodulation devices and cardiopulmonary products, launched the Essenz perfusion system in Europe. The Essenz system is a compact, modular, portable cardiopulmonary bypass (CPB) system designed for cardiac surgeries. The system's modular design allows it to be customized to meet the specific needs of individual patients and surgical procedures. The compact and portable nature of the system also enables easy transport and setup in various clinical settings.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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Major Key Players of the Market:
Getinge AB ; Medtronic plc ; LivaNova PLC ; Terumo Corporation; Lifeline Scientific Inc.; XVIVO Perfusion AB  ; Repligen Corporation ; Spectrum Laboratories Inc. ; Merck KGaA ; Harvard Bioscience Inc. ; ALA Scientific Instruments Inc. ; Accuray Incorporated; XENIOS AG ; General Healthcare Resources LLC; Siemens Healthcare Private Limited Shimadzu Corporation; Samsung Medison Co. Ltd.; GENERAL ELECTRIC COMPANY; Organ Assist Products B.V.; Shimadzu Corporation; Hitachi Ltd.; Bioptechs Inc.; Cytiva Company; Sorin Group; Organ Recovery Systems Inc.; TransMedics Inc.; Waters Medical Systems LLC; Paragonix Technologies Inc.; Bridge to Life (Europe) Ltd.; OrganOx Limited; Preservation Solutions Inc.
Perfusion Systems Market 2024 Key Insights:
• The perfusion systems market will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
• Surge In Organ Transplants Fuels Growth In The Perfusion Systems Market
• Livanova Unveils Essenz Perfusion System, Redefining Cardiac Surgery Standards
• North America was the largest region in the perfusion systems market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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