by Perfusion systems facilitate the perfusion of various organs for transplantation purposes by oxygenating and circulating nutrients, electrolytes, and oxygen through the organ using a complex system of tubes and pumps. Perfusion systems are crucial for maintaining the viability of multiple organs including hearts, lungs, livers, and kidneys post-harvest and during transport before implantation. They aid in assessing organ function and help increase the number of organs available for transplant by allowing organs from extended criteria donors to be utilized. With the contAinuously growing burden of end-stage organ failure and inadequate organ donations, more patients are opting for transplant procedures requiring perfusion systems.
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 key Trends:
Technological advancements are expected to be a key trend in the perfusion systems market over the forecast period. Vendors are focusing on developing perfusion systems with enhanced functionalities such as integration of hypothermic perfusion along with normothermic perfusion capabilities. This would help perfuse organs at different temperatures depending on requirements. Miniaturization of components is another area attracting vendor interest to make perfusion systems more compact and portable for use in mobile transplant hospitals or during transport. Incorporation of automation and artificial intelligence capabilities is also emerging to reduce human errors and ensure consistent and optimal perfusion. Increased adoption of such advanced perfusion technologies is expected to support market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the perfusion system market is low to medium as high initial capital investments and stringent regulatory standards acts as a significant entry barriers.
Bargaining power of buyers: The bargaining power of buyers is medium in this market as the need for perfusion systems in healthcare institutions is dependent on various clinical factors. Buyers can negotiate on pricing and payment terms.
Bargaining power of suppliers: The bargaining power of suppliers is medium as there are a fair number of component manufacturers. However, the inputs used have few alternatives and switching costs are high.
Threat of new substitutes: The threat of new substitutes is low as there are limited product substitutes for perfusion systems. New technology adoption may offer some substitute threat over the long term.
Competitive rivalry: The competitive rivalry is high among the key players to maintain or gain market share through product differentiation, pricing strategy and customer relationship management.
Key Takeaways
The global Perfusion System Market Share is expected to witness high growth over the forecast period from 2024 to 2031. 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.
Regional analysis:
North America is estimated to dominate the global market due to the presence of major players and growing adoption of organ transplant procedures. The Asia Pacific region is anticipated grow fastest owing to increasing healthcare expenditure and demand for quality healthcare services.
Key players:
Key players operating in the perfusion system market are Oldcastle Inc., Cemex Inc., Lafarge North America, HeidelbergCement, Holcim Inc., Vulcan Materials Co., Colas S.A., Martin Marietta Materials, MDU Resources, and Buzzi Unicem. These players are focusing on new product launches and strategic collaborations to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
