by Pediatric perfusion systems are specifically designed for pediatric patients and enable surgeons to oxygenate the blood and bypass it through the heart-lung machine during surgeries, allowing direct surgical access to the heart. The technique helps in maintaining systemic circulation and pulmonary gas exchange. With technological advancements, pediatric perfusion techniques have evolved significantly, contributing to improved safety and surgical outcomes for complex congenital heart defects in infants and children.
The Global Pediatric Perfusion Market is estimated to be valued at US$ 574.7 MN in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Pediatric Perfusion Market Size are Medtronic, GE Healthcare, LivaNova, Inc., Getinge, Braile Biomedica, XENIOS AG, BL Lifesciences, Terumo Corporation, 3M, Koninklijke Philips N.V., EUROSETS, Merck KGaA, Stryker, Cardinal Health, Nonin, and Sorin Group USA, Inc. Pediatric perfusion equipment manufacturers are focusing on developing technologically advanced systems with additional safety features and ease of use.
The global pediatric perfusion market is expected to witness significant growth owing to the rising prevalence of congenital heart diseases and increasing pediatric cardiac surgeries around the world. According to one study, more than 1 million pediatric cardiac surgeries are performed annually worldwide. Favorable government support and funding for pediatric cardiac care in many countries are further propelling the market growth.
With advancements in medical technology and surgical techniques, pediatric cardiac surgeries can now be performed on smaller infants as well as on complex conditions. This has resulted in the rising demand for pediatric-specific perfusion systems globally. Manufacturers are expanding their presence in untapped emerging markets through partnerships and strategic collaborations to further penetrate the global pediatric perfusion market.
Market Key Trends
The global pediatric perfusion market is being driven by continuous innovations and introduction of advanced technologies. Key players are focusing on developing compact, easy-to-use pediatric perfusion systems integrated with additional safety features such as improved blood pressure monitoring and alarms. Miniaturization of components is allowing the procedure to be performed on smaller pediatric patients as well. Furthermore, innovations towards developing systems that can function with minimal priming volumes are also gaining traction in the market. This allows more hemodiluted perfusion and reduces the risks associated with volume overload, especially in neonates and infants.
Porter’s Analysis
Threat of new entrants: It is moderate due to high capital investment required for research and development along with manufacturing to produce pediatric perfusion products.
Bargaining power of buyers: It is moderate due to presence of many players offering pediatric perfusion products with similar specifications.
Bargaining power of suppliers: It is moderate as raw material suppliers have limited control over pricing due to availability of substitutes.
Threat of new substitutes: Threat is low as currently there are limited substitutes for pediatric perfusion products.
Competitive rivalry: It is high among existing players to gain higher market share through new product launches, partnerships and geographic expansion.
Geographical Regions
North America holds the largest share of the global pediatric perfusion market due to increasing number of children requiring cardiac surgeries, government initiatives to support pediatric healthcare and technological advancements leading to new product launches. Asia Pacific is expected to witness the fastest growth owing to rising healthcare expenditure, growing birth rates, increasing number of cardiac diseases in children due to changing lifestyle habits and developing healthcare infrastructure.
Europe is another major region for the pediatric perfusion market supported by better accessibility to treatment services. Latin America and Middle East & Africa are growing markets and offer lucrative opportunities for vendors due to improving healthcare infrastructure and awareness about pediatric perfusion.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
