The global perfusion systems market is expected to reach US$ 1,442.28 Mn in 2027 from US$ 1,044.75 Mn in 2018
NEW YORK, April 17, 2019 /PRNewswire/ -- The global perfusion systems market is expected to reach US$ 1,442.28 Mn in 2027 from US$ 1,044.75 Mn in 2018. The market is estimated to grow with a CAGR of 3.8% from 2019-2027.
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The growth of the perfusion systems market is primarily attributed to the rising prevalence of cardiovascular diseases, significant growth of pharmaceutical and biotechnology industries, rising need for the organ transplantation, and rising cell based research activities.However, expensive organ transplant surgeries, and limited numbers of donors for organ transplant surgeries are likely to pose a negative impact on the market growth.
On the other hand, growth opportunities in emerging regions is likely to have a positive impact on the growth of the global perfusion systems market in the coming years.Cardiovascular diseases (CVDs) is the leading cause of death across the globe, it affects more people as compared to any other disease.
Other than the lifestyle and habit older people are more prone to the cardiovascular diseases.The ageing population commonly show the structural and functional alteration of vessels accumulation through their life.
Thus it increases the risk of developing cardiovascular diseases. The prevalence of the cardiovascular diseases is increasing across the world. The key factors that lead to the occurrence of cardiovascular diseases among the population. As per the American College of Cardiology, it is stated that CVD contributes nearly 800,000deaths in the US, which is approximately to one out every three deaths. The coronary heart disease (CHD) contributes to the majority of CVD deaths which is further followed by stroke and heart failure. Nearly over 90 million Americans get diagnosed with CVD. In addition, it is stated that at a global level cardiovascular diseases contributes around 31% of all deaths and is expected that the cost of the CVD will be approximately to US$ 1,044 billion by 2030.
In 2018, the perfusion systems with bioreactor segment held a largest market share of 44.3% of the perfusion systems market, by type. This segment is also expected to dominate the market in 2027 owing to the increasing production by the biopharmaceutical and pharmaceutical and its advantages including, high quality of product, product stability, scalability. Moreover, the microfluidic perfusion systems segment is anticipated to also witness the significant growth rate of 3.9% during the forecast period, 2019 to 2027 owing to provide application at point of care.
Global perfusion systems market, based on component was segmented into oxygenators, heart-lung machines, perfusion pumps, monitoring systems, cannulas, and others. The oxygenators segment is anticipated to grow at a CAGR of 4.4% during the forecast period. The increasing number of the cardiovascular surgeries, liver transplantation and kidney transplantation across the world is likely to contribute to the growth and dominance of the segment. The oxygenators segment is also expected to exhibit highest growth witnessing a robust CAGR over the forecast years.
Some of the major primary and secondary sources for perfusion systems included in the report are Australasian Board of Cardiovascular Perfusion, Board of Cardiovascular Perfusion India, China Food & Drug Administration, contract research organizations, Food and Drug Administration, New Mexico Asthma Control Program and among others.
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