PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1462927
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1462927
Pediatric Perfusion Market size was valued at USD 565.5 Million in 2023, expanding at a CAGR of 5.6% from 2024 to 2032.
Pediatric perfusion represents a specialized medical discipline focused on managing cardiopulmonary bypass (CPB) procedures in infants and children undergoing cardiac surgery. Perfusionists specializing in this field oversee the operation of heart-lung machines during surgical interventions, ensuring the adequate oxygenation and circulation of blood while the patient's heart is temporarily halted. They meticulously monitor vital signs, blood gases, and other critical parameters to uphold optimal physiological conditions throughout the procedure. Playing a pivotal role within the pediatric cardiac surgical team, these perfusionists significantly contribute to successful surgical outcomes and the overall well-being of young patients grappling with congenital or acquired heart defects.
Pediatric Perfusion Market- Market Dynamics
Introduction of advanced technological products, favorable government initiatives and reimbursement policies, the proliferation of pediatric cardiac surgery centers, and an increase in the incidences of Congenital to propel market demand
The market is experiencing growth due to several factors such as the introduction of advanced technological products, favorable government initiatives and reimbursement policies, the proliferation of pediatric cardiac surgery centers, and an increase in the incidences of Congenital Heart Disease (CHD) or congenital disabilities among children. According to the Centers for Disease Control and Prevention (CDC), approximately 16,800 babies are born each year with a ventricular septal defect, and 1 million children live with CHD in the U.S. This surge in demand for effective and safe treatment approaches to cure heart defects is anticipated to propel market growth throughout the forecast period.
Pediatric Perfusion Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.6% over the forecast period (2024-2032)
Based on Product Type segmentation, pediatric oxygenators was predicted to show maximum market share in the year 2023
Based on End User segmentation, hospitals was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Pediatric Perfusion Market is segmented on the basis of Product Type, Application, End User, and Region.
The market is divided into six categories based on Product Type: pediatric oxygenators, pediatric cannulae, pediatric blood pumps, pediatric arterial filters, monitoring systems, and others. The pediatric oxygenators segment held the largest market share in 2023. Oxygenators play a pivotal role in cardiopulmonary bypass (CPB) procedures by eliminating carbon dioxide from the blood while infusing it with oxygen, effectively replicating the respiratory function of the lungs. This critical function ensures adequate blood oxygenation, thereby sustaining life throughout the body and its organs, thus driving market growth significantly.
The market is divided into three categories based on End User: hospitals, cardiac centers, and others. The hospitals segment accounted for the largest revenue share in 2023. The escalating number of individuals affected by cardiac and respiratory diseases, coupled with the increasing volume of organ transplantation procedures in hospitals, is fueling market growth. For example, according to the "2022 Transplant Outcomes Report" by STANFORD MEDICINE CHILDREN'S HEALTH, the hospital conducted over 500 pediatric heart transplants, 680 pediatric kidney transplants, 832 pediatric liver and intestinal transplants, and 85 pediatric lung and heart-lung transplants. Such statistics contribute significantly to the expansion of this segment.
Pediatric Perfusion Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In the market for pediatric perfusion equipment and services, companies concentrate on developing specialized technologies and protocols tailored to meet the distinct requirements of pediatric patients. They invest extensively in research and development to craft perfusion systems and accessories optimized for smaller patient sizes, thereby ensuring precise control and monitoring during cardiac surgeries. Moreover, companies prioritize the integration of safety features and stringent quality control measures to adhere to regulatory standards and address concerns specific to pediatric cardiac care. Through strategic partnerships with pediatric cardiac centers and healthcare professionals, these companies garner clinical insights, validate product performance, and refine best practices in pediatric perfusion. By leveraging these strategies, companies aspire to enhance patient outcomes, streamline surgical procedures, and drive advancements in the realm of pediatric cardiac surgery.
In September 2022, LivaNova obtained FDA '510(k) clearance' for its Essenz heart-lung machine (HLM), enabling the company to commercially launch the product in the U.S. The Essenz HLM has also received approval from Health Canada and the Japanese PMDA.
GLOBAL PEDIATRIC PERFUSION MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
Cardinal Health
EUROSETS
Terumo Cardiovascular Systems Corporation
BL Lifesciences
Medtronic
LivaNova PLC
Getinge AB
Others