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.
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.
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.
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.
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.
Key segments that contributed to the derivation of the medical perfusion technology market analysis are technique, organ type, and component.
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.
The regional trends and factors influencing the Medical Perfusion Technology Market throughout the forecast period have been thoroughly explained by the analysts at 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.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 752.74 million |
| Market Size by 2031 | US$ 1,202.51 million |
| Global CAGR (2023 - 2031) | 5.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Technique
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Medical Perfusion Technology Market 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.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Medical Perfusion Technology Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
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:
The “Medical Perfusion Technology Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: