Perfusion System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Perfusion System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The perfusion system market is expected to register a CAGR of nearly 8.2% during the forecast period (2022-2027).

The pandemic of COVID-19 had impacted the studied market. While cardiac procedures continued to be performed due to their chronic and life-threatening nature, the number of organ donations and transplants decreased significantly due to government-imposed lockdowns and limitations. As a result, during the pandemic, the market saw a large drop in perfusion system sales. For instance, as per the press release by XVIVO Perfusion AB (publ) in March 2020, due to the Covid-19 pandemic, XVIVO Perfusion observed a decrease in demand for transplant products. This has had a detrimental influence on XVIVO Perfusion system sales in the first quarter of 2020. The company said that sales fell around 15% less than the previous year during the first quarter. The perfusion system's demand fell during COVID-19, but it is predicted to regain market share over the forecast period.

The major factors for the growth of the perfusion system market include the rising demand for organ transplantation, an increase in the prevalence of cardiovascular and respiratory diseases, and rising initiatives by the government and various organizations to promote organ donations.

The rising demand for organ transplantation is the major factor propelling the growth of the market. As per the data published by the Health Resources and Services Administration in March 2022, about 40,000 organ transplants were performed in the United States in 2021. In addition, 26,670 kidney transplants and 9,236 live transplants were performed in 2021 in the United States. The rising demand for organ transplantation is expected to increase the demand for reliable organ perfusion systems. In addition, there is a rising prevalence of cardiovascular and respiratory diseases across the globe boasting the demand for organ transplantation. According to the World Health Organization (WHO) 2021 factsheet, asthma is a major non-communicable disease (NCD), affecting both children and adults. Globally, it affected an estimated 262 million people in 2020 and caused 461,000 deaths. Also, as per the European Respiratory Society’s (ERS) research study titled "An estimate of the European prevalence of COPD in 2050", published in 2020, ERS estimated that there were 36,580,965 Europeans with COPD, and the number is projected to reach 49,453,852 people by the year 2050. Thus, owing to the rising demand for organ transplantation and an increase in the prevalence of respiratory diseases the market is expected to witness high growth.

Furthermore, growing product launches by the key market players are anticipated to boost market growth. For instance, in December 2021, OrganOx, a manufacturer of normothermic machine perfusion (NMP), has received premarket clearance (PMA) from the United States Food and Drug Administration (FDA) for its metra system. The OrganOx metra is a fully automated NMP system that is used to preserve and transport donor livers for transplantation.

Thus, all the above-mentioned factors are expected to boost market growth over the forecast period. However, the high cost of perfusion devices and organ transplantation may restrain the market growth.

Key Market TrendsKidney in Type of Organ is expected to Hold Largest Market Share

The rising prevalence of chronic kidney diseases is the major factor driving the growth of the market. In 2020, as per data released on World Kidney Day, a joint initiative of the International Society of Nephrology (ISN) and the International Federation of Kidney Foundations (IFKF), kidney disease affected around 850 million people globally. As per estimates, one in ten adults has chronic kidney disease (CKD). The global burden of CKD is continuously increasing and is projected to become the 5th most common cause of years of life lost globally by 2040. Thus, with the growing prevalence of kidney diseases the need for kidney transplants is expected to increase thereby boosting the market growth.

According to the 2020 updates from the Global Observatory on Donation and Transplantation, in 2020, around 129,681 total organ transplants were done worldwide, with 31.70% of recipients having received a kidney transplant. Thus, an increase in the number of kidney transplants is expected to boost segment growth over the forecast period.

However, various strategies adopted by the market players such as product launches, mergers, and acquisitions, partnerships further propel the growth of the market. For instance, in August 2021, CytoSorbents Corporation and Aferetica srl (Italy), two pioneers in intensive care immunotherapy and blood purification, launched the Aferetica's PerLife ex vivo organ perfusion system for a kidney transplant and CytoSorbents' PerSorb adsorber, which is based on the CytoSorbents ECOS-300CY sorbent technology and is designed to remove inflammatory mediators during ex vivo organ perfusion. Thus, owing to the all above-mentioned factors the market is expected to witness high growth over the forecast period.

North America is Expected to Hold Largest Market Share over the Forecast Period

The United States is expected to be the largest perfusion system market owing to the rising technological advancements and the presence of better healthcare infrastructure. Furthermore, the rising prevalence of cardiovascular and respiratory diseases increases the demand for perfusion systems. According to the Center for Diseases Control and Prevention in July 2022, 20.1 million adults 20 and older will have coronary artery disease 2020. Every year, about 805,000 Americans have a heart attack. Each year, heart disease costs the United States economy USD 229 billion. Thus, a growing burden of heart disease and rising spending on it are expected to boost the market growth over the forecast period. Additionally, as per the government of Canada, chronic obstructive pulmonary disease (COPD) affected 453,700 and 488,100 people in 2019 and 2020, which is 7.2% and 7.5% of the total population, respectively. Hence, the growing prevalence of respiratory diseases supports the market expansion over the forecast period.

Moreover, product launches by the key market players further propel the growth of the market. For instance, in January 2022, Pedra Technology, a privately held company, reported that the Food and Drug Administration has granted it a Breakthrough Device Designation for the periprocedural use of its Pedra Xauron Perfusion System in the treatment of critical limb ischemia (CLTI). Thus, owing to the all above-mentioned factors the market is expected to hold the largest market share.

Competitive Landscape

The market studied is a consolidated market owing to the presence of few major market players. Some of the market players are Bridge to Life (Europe) Ltd., Organ Assist B.V., Organ Recovery Systems, Inc, OrganOx Limited, Paragonix Technologies, Inc., Preservation Solutions Inc, TransMedics, Inc., Waters Medical Systems LLC, and XVIVO Perfusion AB

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