According to the report, the Europe Perfusion Systems Market Size is valued at USD 0.34 billion in 2023 and expected to grow at a CAGR of 3.20%, to reach USD 0.40 billion by 2028 during the forecast period 2023 to 2028.
The rising prevalence of respiratory diseases, increased government and non-government initiatives, increased investment in cell-based research, and increased biologics manufacturing activities drive the growth of the European perfusion systems market. Perfusion devices bypass cardiopulmonary systems to treat patients with cardiac and respiratory disorders surgically. When the heart and lungs cannot carry out the process of blood oxygenation, perfusion devices such as heart-lung machines give oxygen and remove carbon dioxide.
A primary driver propelling market expansion is the rising need for organ transplants due to the increasing prevalence of 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. By supplying a continual supply of antioxidant qualities and metabolic substrates, it aids in the removal of proteins, toxins, and cytokines from the liver. In a statically stored liver, this decreases the damage induced by reperfusion. The start-up and established players have demonstrated remarkable growth in the manufacture of medication and other therapeutic products.
Perfusion systems to manufacture raw materials obtained from biological sources are required to produce drugs and medicinal products. Biotechnology firms are also involved in manufacturing raw materials for the agriculture, food, and beverage industries, among other sectors. As a result of these reasons, the perfusion systems market is expected to grow in the upcoming forecast years.
High cost of organ transplantation, ethical concerns about stem cell research activities, and the high price of cell-based research are projected to restrict the market's expansion.
This research report on the Europe Perfusion Systems Market has been segmented and sub-segmented into the following categories
CVD is responsible for 50 percent of all deaths in Europe. Furthermore, CVD is the leading cause of death in men and women. As a result, perfusion devices are necessary to bypass the heart and lung functions during cardiac surgery and assist in sustaining blood circulation and oxygen content in the body. As a result of the increased prevalence of cardiovascular diseases in various areas and nations, the market for perfusion systems for CVD treatment is expected to grow throughout the forecast period. In addition, an increase in chronic disease cases in the region is expected to propel the perfusion services market forward during the forecast period.
Furthermore, increased R & D activities in the pharmaceutical business are expected to create lucrative market potential growth. According to the European Commission, 70 to 80 percent of healthcare resources in the European Union are now spent on chronic diseases, where perfusion systems come into play and drive market growth. During the forecast period, many NGO and government initiatives to promote organ donation are projected to stimulate the development of the perfusion system market. In addition, other reasons, such as expanding pharmaceutical research in emerging regions and a growing inclination for continuous research, are expected to contribute to the perfusion system market's expansion.
KEY MARKET PLAYERS
Prominent Companies leading the Europe 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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