Perfusion Systems Market Size will Grow Profitably by 2022

As per the estimations of the TMR report, the demand in the global perfusion systems market will expand at a CAGR of 3.4% during the forecast period of 2017 to 2022. By the end of 2022, the revenue in the global perfusion systems market is projected to be worth US$1,164.1 mn, substantially up from its evaluated valuation of US$985.6 mn in 2017. Going forward, the vendors of this market are expected to concentrate on catering to the rising demand for technologically advanced products that help in enhanced ex-vivo perfusion and expand their distribution channels. This report on the perfusion systems market notes that several products are under clinical trials in the U.S. and Europe, which may gain approval towards the end of the forecast period and help the companies solidify their position against their competitors.

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Some of the key factors augmenting the demand in the global perfusion systems market are: increasing prevalence of cardiovascular and respiratory diseases, increased investments in cell-based research, incremented biologic manufacturing, and escalating number of organ transplantation as a result of increasing geriatric population, multiple organ failure, and government support. As per the statistics provided by the National Institute of Diabetes and Digestive and Kidney Diseases (NIH), about 661,000 people suffered from kidney failures in 2015 in the U.S and the number is swelling further. The Centre for Disease Control (CDC) report that in 2014, approximately 75,000 people were waiting for organ donations, while only 8,000 actual deceased donations were performed that year. In this scenario, the need for proper preservation and transport facilities is a must, a cause that is aided by perfusion systems.

Geographically, this report takes stock of the potential of perfusion systems market in the regions of North America, Europe, Latin America, Asia Pacific except Japan (APEJ), and the Middle East and Africa (MEA), as well as in the country of Japan. In 2017, North America emerged as the most lucrative regional market, serving a demand for perfusion systems that was worth US$385 mn in 2017. The demand in the North America perfusion systems market has been anticipated to expand at an above-average CAGR of 3.5% during the forecast period of 2017 to 2022, by the end of which it will possess a revenue worth of US$457.8 mn. This significant demand for perfusion systems in North America is a result of increasing need for transplant surgery in the developed countries of the U.S. and Canada.

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As per the U.S. Department of Health and Human Services, approximately 119,000 people were waiting for various organ transplants while merely 2,555 donors are available as of April 2017. Europe is currently the second most profitable region in perfusion systems market, projected to constitute a demand for perfusion systems worth of US$337.9 mn by the end of 2022. The APEJ perfusion systems market is projected to be worth US$175.2 mn, expanding at a CAGR of 3.3% during the said forecast period.

Some of the prominent companies in the global perfusion systems market are: Hitachi Ltd., General Electricals Inc., Toshiba Corporation, Koninkliijike Philips N.V., Samsung Electronics Co, Ltd., Medtronic PLC, Shimadzu Corporation, Siemens AG, Accuray Incorporated, Organ Assist B.V., Xvivo Perfusion AB, Organ Recovery Systems, Paragonix Technologies, Inc., Waters Medical Systems, TransMedics, Inc., Bridge to Life Ltd., and OrganOx Ltd. Most of these players are involved in research and development of technologically advancement product that aid in enhanced ex vivo perfusion.

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