According to the report, the Size of the Perfusion Systems Market in Asia Pacific is valued at USD 0.25 billion in 2022 and projected to grow at a CAGR of 2.9%, to reach USD 0.28 billion by 2027 during the forecast period 2022 to 2027.
A primary driver propelling market expansion is the rising need for organ transplants due to the increasing prevalence of chronic diseases. Furthermore, as most organ failure rises, so does the demand for cost-effective solutions. Other organs, such as the liver, are currently being researched for transplantation. Changing societal habits and an aging population is mostly to blame for the rise in costly and common long-term chronic health conditions. Due to rapid urbanization and rising middle-class income, people choose a seated lifestyle.
Perfusion is the process of oxygenated blood being delivered to the rest of the body's tissues. Perfusion systems are used during organ transplant surgeries to let blood flow via a web of minuscule capillaries within the body's tissues, allowing oxygen and other vital chemicals to pass through semipermeable microvascular walls. The market is predicted to grow as patients requiring cardiovascular, renal, and hepatic transplants rise. Innovative technology allows for the safe storage and transplantation of organs from one person to another.
The Organ Care System (OCS) Heart keeps a donor's heart pumping until it's replanted in the receptor's body in a near-norm thermic environment. Growing government activities promoting organ donation and transplantation have resulted in a rise in organ transplant cases.
The high cost of organ transplantation, ethical issues, and the high price of cell-based research is projected to hinder the global perfusion systems market over the forecast period. On the other hand, government and non-governmental organizations (NGOs) encouraging organ donation, increasing expenditures for cell-based research, and increasing biologics manufacturing are all driving the Asia Pacific perfusion systems market forward. Therefore, the primary market challenge is the organ supply-demand gap.
This research report on the Asia Pacific Perfusion Systems Market has been segmented and sub-segmented into the following categories
Asia is predicted to increase at the quickest rate during the forecast period. An increase in the burgeoning biotechnology industry and a growth in pharmaceutical and biotechnology R&D activities in Asia are expected to drive market expansion in the area. In addition, the rising prevalence of the growing geriatric population, and government initiatives to raise awareness, are all moving the market forward. The ever-increasing demand for human body part transplantation can be attributed to the rising prevalence of diseases, which has fueled the rise of the perfusion system sector. Organ failure is more common in people over the age of sixty.
Furthermore, the rise in the frequency of organ failures necessitates the development of cost-effective organ preservation technologies. On the other side, Asia Pacific has a low adoption of perfusion technologies. There was much focus on managing the covid-19, which diverted attention away from routine surgical procedures during this pandemic. Furthermore, the introduction of COVID-19 has put tremendous strain on currently available instrumentation, which is essential for perfusion. Again, the medical perfusion technology market is expected to be negatively impacted by the fall in organ transplantation and cell-based research activities.
KEY MARKET PLAYERS
Top Companies dominating the Asia Pacific Perfusion Systems Market Profiled in the Report are Getinge AB, Medtronic plc, LivaNova PLC, Terumo Corporation, XENIOS AG, Repligen Corporation, Spectrum Laboratories, Inc, Merck KGaA, Harvard Bioscience, Inc, ALA Scientific Instruments, Inc.,
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