New York, United States , June 03, 2024 (GLOBE NEWSWIRE) -- The Global Pediatric Perfusion Systems Market Size is to Grow from USD 578.3 Million in 2023 to USD 1127.3 Million by 2033, at a CAGR of 6.90% during the projected period.
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Pediatric perfusion is a medical device and system developed generally for controlling the circulation and oxygenation of blood in child d during cardiac surgery or other medical operations that require provisional circulatory support. The heart-lung machine and its equipment are used when a child's heart or lungs are not functioning properly to keep the body's blood supply and oxygen levels up. This procedure is crucial for treating pediatric cardiac disorders that call for critical surgical intervention, as well as congenital heart abnormalities, which are systemic issues from birth. Heart-lung machines, oxygenators, pumps, cannulas, and tubing tests are some of the important parts used in pediatric perfusion systems. Moreover, cardiac surgical operations performed on the pediatric population are increasing, which drives market growth. A need for sophisticated perfusion techniques and equipment due to the growing problems from congenital heart surgeries is driving the market's expansion. Developing government financing and innovation are two key elements that are expected to drive the pediatric perfusion market's expansion. Certainly, one of the main factors propelling the market's expansion is the use of cutting-edge technology in pediatric perfusion. However, there are various risk factors, like blood clots, bleeding, infection, and organ dysfunction, during the pediatric perfusion system. These risks have long-term effects on the condition of patients, and it will be costly to manage their condition. The key factor hindering the growth of pediatric perfusion systems market is the high cost of the system.
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 dominates the market with the largest revenue share through the forecast period.
Based on the product, the global pediatric perfusion systems market is segmented into oxygenators, cannulas and catheters, blood pumps, and arterial filters. Among these, the oxygenators segment dominates the market with the largest revenue share through the forecast period. In the cardiopulmonary bypass (CPB) procedure, oxygenators are vital because they duplicate the respiratory function of the lungs by removing carbon dioxide from the blood while enabling oxygen to permeate it.
The cardiac surgeries segment dominated the global pediatric perfusion systems market in 2023.
Based on the application, the global pediatric perfusion systems market is segmented into cardiac surgeries and organ transplantation. Among these, the cardiac surgeries segment dominated the global pediatric perfusion systems market in 2023. Even though birth defects in the heart continue to be the most prevalent cause of acquired heart illnesses, pediatric cardiac treatments are increasingly sought after for the treatment of infections, cardiomyopathies, and rheumatic heart disease. The overall need for cardiac interventions in the pediatric population is influenced by the cases of these diseases.
The hospitals segment accounted for the largest market share in 2023.
Based on the end-user, the global pediatric perfusion systems market is segmented into hospitals and cardiac centers. Among these, the hospitals segment accounted for the largest market share in 2023. The number of patients with heart and lung conditions as well as the range of organ transplant procedures offered in hospitals are driving the expansion of this market. Hospital operating volumes are driven by the need for pediatric cardiac surgeries, which are typically brought on by congenital heart defects or cardiac illness at birth.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. Based in the United States and Canada, several leading medical device companies invest deeply in R&D to develop novel pediatric perfusion systems. The need for pediatric perfusion systems is fueled by the region's hospitals, which are well-equipped with cutting-edge cardiac facilities and a skilled team of perfusionists to perform pediatric heat procedures with ease. These factors are propelling the growth of the pediatric perfusion systems market during the predicted time period in this region.
The Asia-Pacific region is expected to grow the fastest during the forecast period. The market is expanding as a result of the fastest economic growth, enhanced healthcare systems, and rising medical tourism in countries like China, Japan, and India. Better diagnosis and evaluation have led to an increase in the number of cases of curable congenital heart disease. Thus, the growth of the pediatric perfusion systems market is driven by these factors in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global 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 Other Key Players.
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Recent Developments
- In December 2023, Vascular Perfusion Solutions (VPS), Inc. is a San Antonio based medical device start-up company attentive on developing novel prolonged organ preservation technologies previous to transplantation, has received a $25,000 permit from the Southwest-Midwest National Pediatric Device Innovation Consortium (SWPDC).
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:
Global Pediatric Perfusion Systems Market, By Product
- Oxygenators
- Cannulas and Catheters
- Blood Pumps
- Arterial Filters
Global Pediatric Perfusion Systems Market, By Application
- Cardiac Surgeries
- Organ Transplantation
Global Pediatric Perfusion Systems Market, By End-User
- Hospitals
- Cardiac Centers
Global Pediatric Perfusion Systems Market, 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 Middle East & Africa
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