Rising Demand in the Pediatric Perfusion Systems Market Size, Share, Trends and Deep Dive Analysis
According to a Research Report Published by Spherical Insights & Consulting, The Global Pediatric Perfusion Systems Market Size is Expected to Grow from USD 578.3 Million in 2023 to USD 1127.3 Million by 2033, at a CAGR of 6.90% during the forecast period 2023-2033.
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Pediatric perfusion systems are specially designed medical equipment and devices used during cardiopulmonary bypass (CPB) procedures in infants and children to provide blood circulation and oxygenation during complicated cardiac surgeries, these systems are made to temporarily replace the heart and lungs. The heart-lung machine and associated equipment are used to maintain the body’s blood flow and oxygenation functioning when a child’s heart or lungs cannot function properly. Furthermore, the market is projected to grow more rapidly as a result of the growing number of pediatric cardiovascular diseases. As the number of heart problems increased, more surgeries were needed, which increased the need for perfusion procedures. The need for sophisticated perfusion methods and tools due to the increasing complexities of congenital cardiac surgeries is driving market expansion. Growing government funding and innovation are important aspects that are projected to support the pediatric perfusion market’s expansion. However, the high costs of equipment, scarcity of skilled professionals, and risks involved are blood clots, bleeding, infection, organ dysfunction, complex regulatory requirements, limited healthcare infrastructure, and poor awareness in developing regions.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the Global Pediatric Perfusion Systems Market Size, Share, and COVID-19 Impact Analysis, By Product (Oxygenators, Cannulas and Catheters, Blood Pumps, and Arterial Filters), By Application (Cardiac Surgeries and Organ Transplantation), By End-User (Hospitals and Cardiac Centers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
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The oxygenators segment is expected to hold the greatest share during the forecast period.
Based on the product, the global pediatric perfusion systems market is categorized into oxygenators, cannulas and catheters, blood pumps, and arterial filters. Among these, the oxygenators segment is expected to hold the greatest share of the global pediatric perfusion systems market during the forecast period. This is attributed to the oxygenators which play an important role in the cardiopulmonary bypass (CPB) process, where they eliminate carbon dioxide from the blood by permeating it with oxygen, effectively copying the respiratory function of the lungs. This function of oxygenators secures enough blood oxygenation, assisting life throughout the body and its organs, which is one of the main driving factors in the market.
The cardiac surgeries segment is anticipated to hold the greatest share during the forecast period.
Based on the application, the global pediatric perfusion systems are categorized into cardiac surgeries and organ transplantation. Among these, the cardiac surgeries segment is anticipated to hold the greatest share of the global pediatric perfusion systems market during the forecast period. This is attributed to growing awareness of pediatric cardiac problems and global efforts to provide affordable healthcare. Demand for pediatric cardiac surgeries is rising as a result of global efforts to increase accessibility to healthcare and growing awareness of pediatric cardiac disorders.
The hospitals segment is expected to hold the greatest share during the forecast period.
Based on the end-user, the global pediatric perfusion systems market is categorized into hospitals and cardiac centers. Among these, the hospitals segment is expected to hold the greatest share of the global pediatric perfusion systems market during the forecast period. This is caused by a surge in hospital organ transplant procedures and the rise in cases of people with heart and respiratory illnesses.
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North America is expected to hold the greatest share of the global pediatric perfusion systems market over the projected timeframe.
North America is expected to hold the greatest share of the global pediatric perfusion systems market over the projected timeframe. Numerous prominent medical device companies with headquarters in the United States and Canada invest a lot of money in R&D to create novel pediatric perfusion systems. The demand for pediatric perfusion systems is driven by the advanced cardiac facilities and skilled perfusionist teams that hospitals in this area have to do pediatric heat operations. The market for pediatric perfusion systems has expanded due to rising awareness of congenital cardiac conditions and an increase in pediatric heart procedures. This region is developing as a consequence of research efforts, relationships with academic institutions and industrial participants, and advancements in perfusion technology.
Asia Pacific is expected to grow at a rapid rate in the global pediatric perfusion systems market over the projected timeframe. The market is growing due to the fastest economic growth, better healthcare facilities, and rising medical tourism in countries like China, Japan, and India. Better diagnosis and evaluation have led to an increase in the number of curable cases of congenital cardiac disease. Heart-lung machines and other cutting-edge equipment are being added to the pediatric cardiology departments of these inspirational hospitals. The industry will also expand due to increased government spending on pediatric healthcare and awareness-raising initiatives. Over the anticipated period, these elements are propelling the pediatric perfusion systems market’s expansion.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the Global Pediatric Perfusion Systems Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global pediatric perfusion systems market are LivaNova PLC, BL Lifesciences, EUROSETS, Medtronic, Cardinal Health, Nonin, Stryker Corporation, Getinge AB, Terumo Cardiovascular Systems Corporation, Edwards Lifesciences Corporation, GENERAL ELECTRIC COMPANY, Fluigent, Koninkliijke N.V., Philips Healthcare, Sorin Group, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In December 2023, Southwest-Midwest National Pediatric Device Innovation Consortium (SWPDC) grants $25,000 to Vascular Perfusion Solutions (VPS), Inc., a medical device start-up company based in San Antonio focused on creating innovative prolonged organ preservation technologies before transplantation.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global pediatric perfusion systems market based on the below-mentioned segments:
By Product
- Oxygenators
- Cannulas and Catheters
- Blood Pumps
- Arterial Filters
By Application
- Cardiac Surgeries
- Organ Transplantation
By End-User
- Hospitals
- Cardiac Centers
By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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