by Perfusion system is a medical device used for perfusion of intravascular fluids during organ transplant procedures. Perfusion helps in maintaining homeostasis of organs and tissues by supplying oxygen, nutrients, and removing carbon dioxide and metabolic wastes. It is commonly used during harvesting and transport of donor organs such as heart, liver, kidney, and pancreas. Growing demand for organ transplantation and rising prevalence of chronic diseases leading to organ failure is a key factor promoting the adoption of perfusion systems. Heart disease, cancer, and diabetes are among the top reasons for organ transplant procedures. As per the data by U.S. Department of Health & Human Services, over 113,000 patients are currently on the waiting list for organ transplantation in the United States.
The global perfusion system market is estimated to be valued at US$ 1.93 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing organ transplant procedures: As highlighted in the market overview, growing demand for organ transplantation owing to high prevalence of chronic conditions is a major factor fueling the demand for perfusion systems. As per WHO estimates, around 7,000 transplant procedures are performed globally each year while there are over 1,00,000 patients awaiting a lifesaving organ transplant. This untapped potential is rendering lucrative opportunities for market players in the perfusion systems domain.
Technological advancements: Manufacturers are increasingly focused on developing innovative perfusion systems with advanced features to facilitate optimal organ perfusion during transportation and storage. Features such as remote monitoring, integrated sensors for oxygenation and hemodynamic parameters, and integrated perfusion machine are gaining traction. These technological developments are enhancing the efficacy and safety of organ perfusion procedures, thereby bolstering the adoption of perfusion systems.
Segment Analysis
The global perfusion system market can be segmented into bioreactors, microfluidics, and gravity or pressure-driven systems based on product. Among these, the bioreactors segment accounts for the largest share of over 50% in the market owing to its widespread use in clinical applications. Bioreactors help cultivate different tissue types outside the human body, making them an extremely useful tool in medical research and the development of new organ replacements.
PEST Analysis
Political: Governments across countries are increasingly funding medical research to discover new treatments, which is driving investments in advanced perfusion technologies. Favorable regulatory reforms are also minimizing approval timelines for novel products.
Economic: Rising healthcare expenditures on treating chronic diseases as well as an aging global population are increasing the demand for organ transplants. This is positively impacting the perfusion system market as these systems help address the shortage of transplantable organs.
Social: Growing public-private partnerships to accelerate life sciences research and a rising willingness among individuals to donate organs after death are fueling market growth. However, social taboos still remain an obstacle in some developing regions.
Technological: Leading players are investing heavily in R&D to develop more sophisticated bioreactors, organs-on-chips, and wearable artificial organs using perfusion. Miniaturization of components is also making perfusion systems more portable and affordable.
Key Takeaways
The global Perfusion System Market Share is estimated to be valued at US$ 1.93 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.
Regional analysis
indicates that North America currently dominates the market, ascribing to the strong presence of leading manufacturers and extensive biomedical research activities in the region. The North American market is projected to reach US$ 1 billion by 2031.
Key players operating in the perfusion system market are Oldcastle Inc., Cemex Inc., Lafarge North America, HeidelbergCement, Holcim Inc. Key players are increasingly focusing on implementing inorganic growth strategies such as acquisitions and collaborations to expand their global footprint. For instance, Oldcastle Inc. acquired several local players in Europe and Asia Pacific in 2021 to penetrate new geographic regions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
