(I-BusinessNews.Com, July 31, 2021 ) According to research report the perfusion systems market is projected to reach USD 1,198.8 million by 2021 from USD 989.4 million in 2016, at a CAGR of 3.9% from 2016 to 2021.
Growth in the market is driven by factors such as the increasing prevalence of cardiovascular and respiratory diseases, increasing initiatives by governments and NGOs to encourage organ donation, increasing investment in cell-based research, and rising activities in biologics manufacturing.
The perfusion systems market is segmented on the basis of type (namely cardiopulmonary perfusion systems, ex vivo organ perfusion systems, and cell perfusion systems) and region. By component, the cardiopulmonary perfusion systems market is segmented into heart-lung machines, perfusion pumps, oxygenators, monitoring systems, cannulas, and other components. The oxygenators segment accounted for the largest share of the cardiopulmonary perfusion systems market in 2016.
Based on technique, the ex vivo organ perfusion systems market is segmented into hypothermic machine perfusion and normothermic machine perfusion. The hypothermic machine perfusion segment held the largest share of the ex vivo organ perfusion systems market in 2016 and is also projected to grow at the highest CAGR during the forecast period.
The global cell perfusion systems market is segmented based on the type, as bioreactor perfusion systems, microfluidic perfusion systems, gravity or pressure-driven perfusion systems, and small-mammal organ perfusion systems. The bioreactor perfusion systems segment held the largest share of the cell perfusion systems market in 2016 and is projected to register the highest CAGR during the forecast period.
Geographically, North America is estimated to account for the largest share of the global market, followed by Europe. The Asia-Pacific region is expected to witness the highest growth in the market during the forecast period. This growth will be particularly centered on China, Japan, and India.
The market is consolidated in nature. Major players in this market include Getinge AB (Sweden), Medtronic, plc (Ireland), LivaNova (UK), Terumo Corporation (Japan), ALA Scientific Instruments, Inc. (US), Lifeline Scientific, Inc. (US), Nipro Corporation (Japan), XENIOS AG (Germany), Repligen Corporation (US), Spectrum Laboratories, Inc. (US), Merck KGaA (Germany), Harvard Bioscience, Inc (US) and XVIVO Perfusion AB (Sweden). Partnerships, Collaborations, Joint Ventures, Agreements, and Mergers & Acquisitions were the key strategies adopted by players to grow and expand their presence in the market.
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