04-Jun-2021 | Facts and Factors
We at Facts & Factors estimate the market revenue for the global Medical Perfusion Technology Market to be valued at USD 905.50 Million by the end of 2026, up from a base value of USD 750.15 Million in 2020, at a CAGR of 5.6% during the forecast period 2021-2026.
Medical perfusion technology is the scientific study of the human anatomy that connects the lungs and the adjoining organs. During surgical procedures, these medical perfusion devices often mimic the function of the lungs and heart during surgical procedures where the latter organs have to be put to rest. The major driving forces for the growth of the medical perfusion technology market are the growing prevalence of failing organ systems among the aging and advanced population and the rise in chronic diseases, among others.
Added functionality by these devices such as increased organ preservation measures and increased shelf life of these organs will further boost the sales of the medical perfusion technology market. However, the lack of trained medical professionals and the high initial cost can hamper the growth of the medical perfusion technology market to a certain extent.
Top Market Players
The key participants in the global medical perfusion technology market are Paragonix Technologies, TransMedics, Inc., OrganOx Limited, Bridge to Life Ltd., Getinge AB, Medtronic, LivaNova PLC, and XENIOS AG., among others.
Market Dynamics
Inorganic partnerships and mergers & acquisitions are often adopted by the key players in the industrial space in order to sustain themselves in the highly competitive market. The market is flooded by the latest innovations that are often incorporated over years of research and developmental cycle. Furthermore, the rising number of distributors for medical perfusion technology is expected to give rise to fierce competition which will ultimately lead to a pricing crisis among the competitors. The pace of innovation is often stifled by a lack of accreditation of the products by global and local organizations alike.
On the basis of technology, the global medical perfusion technology market can be divided into hypothermic machine perfusion and normothermic machine perfusion. The hypothermic machine perfusion will account for the largest market share during the forecast owing to viable alternative solutions for cold storage solutions and improved downtime post-op conditions.
On the basis of organ type, the global medical perfusion technology can be fragmented into heart, lung, kidney, liver, and others. The kidney segment will account for the largest market share during the forecast owing to contributing factors such as increased functionality of kidney preservation being added to these devices. The segment of the heart will account for the fastest growing CAGR during the forecast.
North America Will Recoup The Largest Market Share In Terms Of Revenue
North America is expected to witness the largest market share during the forecast in terms of global revenue contribution. The growing disparity between the demand and supply of organs will boost the growth of the medical perfusion technology market in the region. Certain factors pertaining to the growth of the market can be further credited to widened government funding, raised awareness about medical perfusion, and increased research and developmental activities in the sector.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 750.15 Million |
Projected Market Size in 2026 |
USD 905.50 Million |
Growth Rate |
CAGR 5.6% |
Base Year |
2019 |
Forecast Years |
2020–2026 |
Key Market Players |
XVIVO Perfusion AB., Organ Assist B.V., Organ Recovery Systems, Organ Transport Systems, Waters Medical Systems, Paragonix Technologies, TransMedics, Inc., OrganOx Limited, Bridge to Life Ltd., Getinge AB, Medtronic, LivaNova PLC, XENIOS AG and Others |
Key Segment |
By Technology, By Organ Type, By Component and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Browse the full “Medical Perfusion Technology Market By Technology (Hypothermic Machine Perfusion & Normothermic Machine Perfusion), By Organ Type (Heart, Lung, Kidney, Liver, & Others), By Component (Perfusion Pumps, Oxygenators, Heart-Lung Machines, Monitoring Systems, Cannular, & Others), And By Region - Global and Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” report at https://www.fnfresearch.com/medical-perfusion-technology-market.
The global medical perfusion technology market can be segmented into:
Global Medical Perfusion Technology Market: By Technology Segment Analysis
- Hypothermic Machine Perfusion
- Normothermic Machine Perfusion
Global Medical Perfusion Technology Market: By Organ Type Segment Analysis
- Heart
- Lung
- Kidney
- Liver
- Others
Global Medical Perfusion Technology Market: By Component Segment Analysis
- Perfusion Pumps
- Oxygenators
- Heart-Lung Machines
- Monitoring Systems
- Cannular
- Others
Global Medical Perfusion Technology Market: By Regional Segment Analysis
- North America
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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