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Pediatric Perfusion Market to Experience Significant Growth during the Forecast Period 2019-2027

Pediatric Perfusion Market

, 19 June 2019 -- Global pediatric perfusion market is primarily driven by rise in cases of cardiac birth defects (especially congenital heart diseases) across the world. Additionally, the global market is propelled by increase in the diagnosis rate of pediatric respiratory diseases and surgery cases.

Pediatric congenital heart surgery has been carried out for the last four decades using pediatric perfusion devices. Around 20,000 pediatric open heart surgeries are performed in North America each year. According to several surveys, maximum open heart surgeries are conducted in children aged under 1 year. Pediatric perfusion devices are mechanical support devices used in open heart surgeries to bypass the blood from heart and lung and regulate blood circulation.

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The global pediatric perfusion market is primarily driven by rise in cases of cardiac birth defects (especially congenital heart diseases) across the world. Additionally, the global market is propelled by increase in the diagnosis rate of pediatric respiratory diseases and surgery cases. However, stringent regulatory guidelines for pediatric perfusion devices and unavailability of pediatric heart surgeons are projected to hamper the growth of the global market. The global pediatric perfusion devices market has been evolving due to technological advancements. Moreover, mergers and acquisitions among major players and increase in research and development expenditure by key companies are expected to augment the global pediatric perfusion market during the forecast period.

The global pediatric perfusion market can be segmented based on product type, target group, end-user, and region. In terms of target group, the global market can be classified into neonates, infants, and small children. Based on product type, the global pediatric perfusion market can be divided into pediatric oxygenation systems, blood pumps & flow probes, arterial filters, extracorporeal circuits, cardioplegia circuits, and other products and accessories. In terms of end-user, the global market can be categorized into hospitals & ambulatory surgery centers, specialized clinics, and others.

Geographically, the global pediatric perfusion market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to the CDC, congenital heart diseases affect approximately 1% of the total pediatric population in the U.S. each year. The prevalence of mild congenital heart diseases has increased in the country in the past five years, whereas prevalence of severe congenital heart diseases has been stable. According to the Cincinnati Children’s hospital, more than 20,000 pediatric open heart surgeries are performed in the U.S. each year. North America captured the largest share of the global pediatric perfusion devices market owing to high prevalence of congenital heart diseases in the U.S., increase in diagnosis rate of congenital heart diseases, high open heart surgery rate, and well-established health care infrastructure.

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Germany, France, and the U.K. accounted for major shares of the pediatric perfusion market in Europe in 2018. The market in Italy and Spain is expected to witness significant growth during the forecast period. Highly developed health care industry, high rate of diagnosis and treatment of congenital heart diseases, availability of sophisticated instruments in hospitals, and presence of ambulatory surgery centers are the key factors attributed to high market shares of Germany, France, and the U.K.

China and Japan held dominant shares of the pediatric perfusion market in Asia Pacific in 2018. The market in India is projected to expand at a high CAGR in the next few years, owing to large population of newborns and developing health care industry. Underdeveloped health care infrastructure and unavailability of skilled pediatric surgeons are anticipated to hamper the growth of the pediatric perfusion market in Latin America and Middle East & Africa during the forecast period.

Key companies in the global pediatric perfusion market are Medtronic, Terumo Cardiovascular Systems Corporation, LivaNova plc (Sorin Group), BL Lifesciences, and Eurosets, among others.

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Submitted by hawer on Wednesday, 19 June 2019 at 1:30 AM
Category: Health Care & Medical
 
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