Perfusion Systems Market Growth & Trends
The global perfusion systems market size is expected to reach USD 183.8 million by 2025, according to a new report by Grand View Research, Inc. Rising demand for transplantation owing to increased incidence of vital organ failures is a major growth driver of the market. To curb this problem, Machine Perfusion (MP) is adopted by clinics. Hence, the demand for the same is expected to grow over the coming years.
Statistics published by the National Kidney Foundation in 2014 states that 4,761 patients died due to the unavailability of a kidney. This showcases the need for viable donated organs for transplantation, thereby boosting the market growth.
The introduction of technologically advanced products for the purpose of enhanced efficiency and cost-effectiveness is expected to serve this market with lucrative opportunities. For instance, the introduction of portable organ perfusion systems is presumed to gain popularity over the coming years owing to associated benefits with its usage such as ease of access, cost-efficiency, and portability.
Market participants are involved in extensive R&D for the development of innovative perfusion techniques. For instance, TransMedics, Inc. carried out the world’s first warmblood perfusion liver transplantation with its innovative TransMedics Organ Care System Liver technology.
Moreover, many market players in the U.S. and Europe are involved in the development of new products that are in clinical trials. For example, METRA developed by OrganOx Ltd. for automatic liver transportation and normothermic liver perfusion is under clinical study in the U.S. The expected product approvals in the coming years are anticipated to serve this industry with lucrative growth opportunities.
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Perfusion Systems Market Report Highlights
Presence of government initiatives such as National Organ Transplant Programme in India and initiatives from nonprofit organizations such as Donate Life America in the U.S. are contributing toward increasing awareness level
Introduction of warm blood perfusion technology is expected to offer this industry with future growth opportunities
Hypothermic MP held the dominant share as of 2016 owing to increasing adoption for kidney preservation. These systems are capable of preserving an organ for a longer duration as compared to static cold storage. The associated benefits with the use of this technology are expected to fuel the demand
The MP technology for kidney transplantation segment held a dominant share as of 2016 owing to benefits attached to its usage
As of now, there are two MP systems that are approved by the U.S. FDA including LifePort Kidney Transporter by Organ Recovery Systems Inc. and WAVES RM3 by Waters Medical Systems
The Asia Pacific regional industry for MP is expected to witness lucrative CAGR during the forecast period
The perfusion system participants are focusing on the development of cost-effective solutions, thereby increasing R&D activities for the development of novel technologies