Medical Perfusion Technology Market Size, Share, and Analysis by 2031

The medical perfusion technology market size in 2021 stood at US$ 752.74 million and is projected to reach US$ 1,202.51 million by 2031 from US$ XX million in 2023. The market is expected to register a CAGR of 5.9% in 2023–2031. Perfusion instruments for cell-based research activities, and adoption of compact and portable perfusion machines are likely to remain key medical perfusion technology market trends.

Medical Perfusion Technology Market Analysis

The increasing prevalence of heart diseases such as coronary heart disease, cardiovascular disease, cerebrovascular disease, and rheumatic heart disease, as well as the significant growth of the biotechnology and pharmaceutical companies, the rise in cell-based research activities, and the practice of organ transplantation, all contribute to the growth of the medical perfusion technology market. Also, the well-established healthcare industry, increased investment by key players, and government attempts to develop the healthcare industry are all projected to fuel market growth.

Medical Perfusion Technology Market Overview

The US is projected to be the largest market for medical perfusion technology, the market is attributed due to multiple factors such as increase in cardiovascular disease, comprehensive clinical research, contract research and more. Moreover, in terms of technology, the nation is well ahead of other developed and emerging countries. Advances in technology have resulted in the development of various medical perfusion technologies and technologies that are used for their applications. Heart disease is the number one cause of death in the United States. Coronary heart disease occurs when the heart's arteries are incapable to deliver enough oxygen-rich blood to the heart. According to the CDC, the most frequent type of heart illness is coronary artery disease (CAD), in 2021, ~375,000 people died in the US.

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Medical Perfusion Technology Market: Strategic Insights

Medical Perfusion Technology Market Drivers and Opportunities

Rising Prevalence of Cardiovascular Conditions to Favor Market Growth

Cardiovascular diseases (CVDs) are the disorders related to the blood vessels and heart, which includes cerebrovascular disease, rheumatic heart disease, and coronary heart disease (CHD). CVDs are the leading cause of death globally. The structural and functional alteration of vessels are mainly seen in elderly people, which leads to the risk of cardiovascular diseases. According to the Centers of Disease Control and Prevention (CDC) in 2020, heart disease causes death of an estimated 695,000 in the US each year. Moreover, according to the WHO in 2020, globally ~17.9 million people die because of cardiovascular diseases. Moreover, Majority of the CVD deaths are due to the CHD, which is further followed by stroke and heart failure.

Growth Opportunities in Emerging Nations

The emerging regions such as Asia Pacific, Middle East and Africa, and Latin America are growing significantly in the biotechnology and pharmaceutical sectors. The governments in the countries of these regions are supporting through several initiatives, programs, funding, and conferences. The growth of pharmaceutical and biotechnology is driven by the economic and demographic development, rising healthcare expenditures, and improving public-private healthcare funding, among others.

The regions are witnessing a rising number of start-up companies that helps in the production of generic drugs, components of the parts of the medical devices, and others. The R&D activities in the biotechnology and pharmaceuticals sectors are growing. The emerging economies are now seeking support from the developed nations for novel procedures and advanced technologies. Moreover, the well-established players are turning to the emerging nations for their expansions as these regions have enormous potentials to offers market growth.

Medical Perfusion Technology Market Report Segmentation Analysis

Key segments that contributed to the derivation of the medical perfusion technology market analysis are technique, organ type, and component.

• Based on technique, the medical perfusion technology market is bifurcated into hypothermic machine perfusion and normothermic machine perfusion. The hypothermic machine perfusion segment held a larger market share in 2023.
• By organ type, the market is segmented into heart, lung, kidney, liver, and others. The kidney segment held the largest share of the market in 2023.
• In terms of component, the market is divided into perfusion pumps, oxygenators, heart-lung machines, monitoring systems, cannulas, and others. The oxygenators segment dominated the market in 2023.

Medical Perfusion Technology Market Share Analysis by Geography

The geographic scope of the medical perfusion technology market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the medical perfusion technology market. Increasing adoption of advanced medical perfusion technology, technological advancements and rising emphasis on improving treatment outcomes are projected to accelerate the growth of the medical perfusion technology market. Besides, the rise in the cardiovascular surgeries in Canada, and the increasing prevalence of the cardiovascular and asthma in the Mexico City are likely to boost the growth of medical perfusion technology in the region during the forecast period.

Medical Perfusion Technology Market Regional Insights

The regional trends and factors influencing the Medical Perfusion Technology Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Medical Perfusion Technology Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Medical Perfusion Technology Market Report Scope

Medical Perfusion Technology Market Players Density: Understanding Its Impact on Business Dynamics

The Medical Perfusion Technology Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Medical Perfusion Technology Market News and Recent Developments

The medical perfusion technology market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for medical perfusion technology:

• XVIVO Perfusion AB completed the acquisition of all shares in the Dutch medtech company Organ Assist B.V. Organ Assist B.V. Organ Assist focuses mainly on developing machines and consumables for perfusion of liver and kidney. Through the acquisition, XVIVO becomes the first company in the world, within the preservation and evaluation of organs, to actively conduct business in all major organ areas. The acquisition accelerates the company's strategy to become a global supplier of solutions and systems in all major organ areas. (Source: XVIVO, Press Release, 2020)

Medical Perfusion Technology Market Report Coverage and Deliverables

The “Medical Perfusion Technology Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles