Global Pediatric Perfusion Products Market is Anticipated to Hold a Share of US$ 294.6 Million by 2031 Says Transparency Market Research

Wilmington, Delaware, United States, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The global pediatric perfusion products market is projected to flourish at a CAGR of 7.3% from 2022 to 2032. As per the report published by TMR, a valuation of US$ 294.6 million is anticipated for the market in 2031. As of 2023, the market for pediatric perfusion products is expected to close at US$ 157.4 million

The rising prevalence of CHDs among infants and children has been a significant driver. Congenital heart defects are structural abnormalities of the heart that are present at birth. Pediatric perfusion products are essential for cardiac surgeries and interventions to treat these conditions.

Growing awareness among parents and healthcare professionals about the importance of timely diagnosis and treatment of pediatric heart conditions has led to increased demand for perfusion products.

Advances in pediatric cardiac surgery techniques and an increase in the number of pediatric cardiac surgery centers have led to a higher demand for perfusion products, driving the market demand.

Vendors in the industry are investing significantly in the R&D of pediatric perfusion technology. New products are being developed that offer better performance and more advanced features. These products can provide more effective support to children during surgical procedures.

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Market Snapshot:

Key Takeaways from the Market Study

• As of 2022, the pediatric perfusion products market was valued at US$ 147 million
• By product, the pediatric cannulae product segment is anticipated to hold largest share during the forecast period
• Based on end-user, the hospital segment is expected to generate high revenue during the forecast period, due to the increased use of commercial coffee brewers
  

Pediatric Perfusion Products Market: Key Trends and Opportunistic Frontiers

• A rise in awareness about heart abnormalities and related treatments is likely to offer lucrative growth opportunities for vendors in the market. Therefore, vendors are focused on the approval and launch of new products to expand their pediatric perfusion products market share.
• Increased healthcare spending, particularly in developed countries, has enabled hospitals and healthcare facilities to invest in advanced pediatric perfusion equipment and technology.
• Medical tourism and the globalization of healthcare services have increased access to advanced pediatric cardiac surgeries, driving the demand for perfusion products in various regions.
  

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Pediatric Perfusion Products Market – Regional Analysis

• North America is projected to dominate the market during the forecast period owing to the high prevalence of congenital heart diseases is driving market revenue in the region. The region benefits from a well-established healthcare infrastructure, high healthcare spending, and a large patient population. Pediatric cardiac surgeries are relatively common in North America, contributing to the demand for perfusion products.
• The pediatric perfusion products market in Asia Pacific is projected to grow at the highest CAGR during the forecast period, owing to a large population of newborns and a surge in investment in the healthcare sector Rising healthcare investments, and increasing awareness of congenital heart diseases. Improvements in healthcare infrastructure have also boosted the availability of pediatric cardiac surgeries

Competitive Landscape

The pediatric perfusion products market is highly consolidated with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global pediatric perfusion products market report:

• Medtronic
• Terumo Cardiovascular Systems Corporation
• LivaNova PLC
• BL Lifesciences
• Cardinal Health
• Getinge AB
• Eurosets
  

Key Developments in the Pediatric Perfusion Products Market

• Sorin Group, now part of LivaNova, has been a prominent player in the pediatric perfusion products market. They have a range of pediatric oxygenators and other perfusion-related equipment. In recent years, they have focused on product innovation and expanding their product portfolio to address the specific needs of pediatric patients undergoing cardiac surgery.
• Medtronic is a global leader in medical technology and has a presence in the pediatric perfusion products market. The company has been involved in research and development efforts to improve the safety and efficacy of pediatric perfusion procedures. This includes advancements in pediatric oxygenators and monitoring devices.
• Terumo Cardiovascular Systems is known for its pediatric perfusion products, including oxygenators and cannulation systems. Recent developments have revolved around enhancing the design and usability of these products to cater to the unique requirements of pediatric patients.
  

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Pediatric Perfusion Products Market – Key Segments

Product

• Pediatric Oxygenators
• Pediatric Arterial Filters
• Pediatric Cannulae
• Hemoconcentrators
• Reservoirs
• Others

End-user

• Hospitals
• Specialty Clinics
• Others
  

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
  

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