Perfusion Systems Market To Surge At A Robust Pace In Terms Of Revenue Over 2022
The global perfusion systems market is prognosticated to bear an extremely competitive vendor landscape where rivalries between top industry players could only intensify the competition. Transparency ...
The global perfusion systems market is prognosticated to bear an extremely competitive vendor landscape where rivalries between top industry players could only intensify the competition. Transparency Market Research (TMR) has foreseen the market to attract scores of global and regional companies due to the rising demand for organ transplantation. A position of strength could be attained by leading names in the market, some of them include Samsung Electronics Co, Ltd., Medtronic PLC, Hitachi Ltd., General Electricals Inc., and Shimadzu Corporation. Technologically sophisticated products that help in improved ex vivo perfusion could be highly focused upon through continuous research and development.
The world Perfusion Systems Market has been projected by TMR to expand at a 3.4% CAGR between 2017 and 2022. By the end of the forecast tenure, the market could be valued at a US$1.1 bn. In 2017, a revenue valuation of US$0.9 bn had been achieved by the market. As per product, cardiopulmonary perfusion systems could account for a king’s share in the market with a 54.8% of the total demand expected to be secured by 2022. North America has been predicted to be a more profitable market for perfusion systems, which could be worth a US$0.4 bn by the same year.
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Common Occurrence of Multiple Organ Failure Raises Demand
The world perfusion systems market has been prophesied to gain impetus owing to certain factors such as government support, increasing incidences of multiple organ failure, and rising geriatric population. Moreover, the demand in the market could be augmented because of the mounting count of organ transplantations, improved biologic manufacturing, and swelling investments in cell-based research. Players could find opportunities prevailing on the back of the growing pervasiveness of respiratory and cardiovascular disorders.
According to the Centers for Disease Control and Prevention (CDC), an insignificant count of actual deceased donations had been received in the recent past against the need of several thousands of people looking for organ donations. In the U.S., kidney failures had been observed in close to a 661,000 people in 2015, according to the estimation of the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK). Perfusion systems could play a major role in mitigating the need for appropriate transportation and preservation facilities in such a scenario.
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High Cost of Cell-based Research Obstructs Growth of Players
The international perfusion systems market could offer greener pastures in the near future; however, there could be challenges to be faced with. For instance, the expensive cost of cell-based research has been expected to hinder the growth in the demand for perfusion systems. Other restraints such as wide gaps between demand and supply, ethical concerns, and extortionate cost of organ transplantation could also deny the market to achieve growth in the foreseeable future. In the U.S., an approximately 121,678 people made their way to the waiting list for transplantations as of November 1, 2017, as per the National Kidney Foundation.
However, vendors currently operating in the international perfusion systems market have been envisaged to find new prospects birthing due to rising research activities in the pharmaceuticals industry and increasing preference for continuous manufacturing in most developing countries.
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