Pediatric Perfusion Products Market Size Worth 321.52 Million in 2032 | Emergen Research
Increasing prevalence of cardiac disorders such as congenital heart defects and heart failure in children is one of the major factors driving Pediatric Perfusion Products market revenue growth
Vancouver, Dec. 20, 2023 (GLOBE NEWSWIRE) -- The global pediatric perfusion products market size was USD 158.20 Million in 2022 and is expected to register a revenue CAGR of 7.4% during the forecast period, according to the latest analysis by Emergen Research. Increasing prevalence of cardiac disorders and heart failure, rising investments and funding toward production of such devices, and rapid advancements in cardiac monitor technology are some of the major factors driving the pediatric perfusion products market revenue growth.
Pediatric perfusion refers to measures used to ensure that the child's circulatory that is heart and blood and respiratory that is breathing demands are addressed in open-heart surgery for children. As new medical technology and cutting-edge techniques become accessible, Cardiopulmonary Bypass (CPB) operations for newborns, babies, and kids are continually evolving. Specialized pediatric perfusion devices, including pediatric cannulas, hemo-concentrators, heart-lung tube packs with arterial filters, and cardioplegia delivery systems, are being sold by businesses. Recent years have seen a lot of advancements made specifically for pediatric Cardiopulmonary Bypass (CPB). Rise in investments and funding toward production of such products is one of the major factors driving revenue growth of the market.
For instance, on 29 November 2020, PEDRATM Technology, a Singapore-based company that creates cutting-edge deep-tissue perfusion monitors, closed a USD 4.7 million Series A funding with investors including SEEDS Capital. With the help of financing, a first-generation device to measure perfusion non-invasively will be developed, and a strong clinical program will be supported to make perfusion monitoring the new standard of care for treating Critical Limb Ischemia (CLI) and Peripheral Arterial Disease (PAD).
Rising prevalence of cardiac illnesses in children, such as congenital heart abnormalities and heart failure, is one of the main causes driving revenue growth of the market. Oxygenators designed for infant and pediatric CPB have drastically improved during the past ten years. For instance, improved clinical outcomes following pediatric cardiac surgery have been associated with the use of integrated oxygenators and Acute Liver Failures (ALFs). Oxygenators with prime volumes close to 10 mL are currently widely available on the market. These factors contribute to revenue growth of the market.
One of the major challenges restraining revenue growth of the market is high costs of pediatric cardiac surgeries. Cost and larger prime volume are drawbacks of centrifugal systems in comparison to roller systems for pediatric perfusion. Costs for pediatric perfusion systems range from USD 4000 to USD 10,000 for pediatric cardiac surgery, from USD 4000 to USD 6000 for atrial septal defect repair, and there are additional costs for transportation, medical tourism, and hospital diagnostic services. Such factors are limiting revenue growth of the market.
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*Scope of Research*
*Report Details* *Outcome*
Market size in 2022 USD 158.20 Million
CAGR (2023–2032) 7.4%
Revenue forecast to 2032 USD 321.52 Million
Base year for estimation 2022
Historical data 2019-2021
Forecast period 2023–2032
Quantitative units Revenue in USD Million and CAGR in % from 2023 to 2032
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Product Type, End-Use, and region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled Medtronic, Terumo Corporation., Berlin Heart, LivaNova PLC., Cardinal Health, BIOTRONIK, Getinge AB, Respicare., EUROSETS, and Andocor
Customization scope 10 hours of free customization and expert consultation
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*Major Companies and Competitive Landscape *
The global pediatric perfusion products market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective pediatric perfusion products solutions. Some major players included in the global pediatric perfusion products market report are:
· Medtronic
· Terumo Corporation.
· Berlin Heart
· LivaNova PLC.
· Cardinal Health
· BIOTRONIK
· Getinge AB
· Respicare.
· EUROSETS
· Andocor
*Strategic Development*
· On 13 March 2023, LivaNova PLC announced that their Essenz Heart-Lung Machine (HLM) has acquired 510(k) clearance from the United States Food and Drug Administration (FDA). Based on feedback from more than 300 perfusionists, the business created the new cardio-pulmonary system to answer the changing needs of Operating Rooms (OR). LivaNova's Essenz Heart-Lung Machine (HLM) facilitates open-heart surgical procedures in patients of all ages, including children.
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*Some Key Highlights from the Report*
· The hospitals segment accounted for largest revenue share in 2022. One of the main reasons patients visit hospitals is to improve access to pediatric cardiac surgery education and to provide local doctors and nurses with the most recent standards and techniques in pediatric cardiac care. The hospital benefits from collective experience of a multidisciplinary team that includes cardiac surgeons, cardiologists, critical care specialists, anesthesiologists, neonatologists, and a whole support staff devoted to treating children. In these facilities, medical professionals regularly offer advanced cardiac support, such as Extracorporeal Membrane Oxygenation (ECMO), External Ventricular Assist Device (EVAD) assistance for younger children, and implantable Left Ventricular Assist Device (LVAD) support for older children, which contributes to revenue growth of this segment.
· The pediatric cannulae segment is expected to register a steady revenue CAGR during the forecast period. The nasal cannula has also been effectively modified for use in prenatal and pediatric respiratory therapy. Heated, Humidified High-Flow Nasal Cannula (HHHFNC) oxygen therapy delivers warmed, humidified oxygen at flow rates that exceed minute volume needs. The usage of HHHFNC therapy has grown since it was first used in neonatal intensive care more than 20 years ago to support newborns, kids, and adults who are experiencing severe respiratory distress and to prevent the need for intubation or reintubation. According to some evidence, HHHFNC can help children with congestive heart failure, probably because it lowers systemic afterload and preload. High-Flow Nasal Cannula (HFNC) was initially developed as an alternative for the treatment of preterm newborns, but more recently, a notable increase in its use has been noted in the care of infants and young children hospitalized for pediatric cardiac surgeries. These are the major factors that are contributing to revenue growth of this segment.
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*Emergen Research has segmented the global pediatric perfusion products market on the basis of product type, end-use, and region:*
· *Product Type Outlook (Revenue, USD Million; 2019-2032)*
· Pediatric Cannulae
· Pediatric Centrifugal Blood Pumps
· Pediatric Oxygenators
· Hemoconcentrators
· Pediatric Arterial Line Fillers
· Others
· *End-Use Outlook (Revenue, USD Million; 2019-2032)*
· Hospitals
· Cardiac Centers
· Ambulatory Surgical Centers
· *Regional Outlook (Revenue, USD Million; 2019-2032)*
· North America
1. U.S.
2. Canada
3. Mexico
· Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
· Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
· Latin America
1. Brazil
2. Rest of LATAM
· Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA
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