Research Nester published a report titled “Pediatric Perfusion Products Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the pediatric perfusion products market in terms of market segmentation by product, by end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Perfusion devices are mechanical devices used in open-heart surgeries to bypass the blood from the lungs and heart and circulate the blood flow. Many children suffer from heart abnormalities and undergo heart surgeries that require perfusion products. On the back of these factors, the pediatric perfusion products market is anticipated to expand significantly over the forecast period, i.e., 2020-2028. Among the product type segmentation, pediatric cannulae segment is projected to hold the largest market share over the coming few years on account of widespread presence of pediatric respiratory problems, and helpful creation of cannulae’s that makes it suitable for neonatal use.
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Regionally, the pediatric perfusion products market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market for pediatric perfusion products in North America is predicted to hold the leading share as a result of widespread presence of congenital heart diseases in the U.S., growing rate of diagnosis of congenital heart diseases, rising open heart surgery rate, and well-established health care industry.
According to the Centers for Disease Control and Prevention, congenital heart diseases affect approximately 1% of the total pediatric population in the U.S. every year.
Germany, the U.K., and France were responsible for major shares of the pediatric perfusion market in European region for the year 2019. This is attributed to high rate of diagnosis and treatment of congenital heart diseases, highly evolved health care infrastructure, existence of ambulatory surgery centers, and accessibility of advanced instruments in hospitals.
The market in the Asia Pacific region is projected to grow at a significant rate on account of large population of neonates, rising patients of congenital heart problems, and developing health care infrastructure in the region.
However, unprogressive health care sector and unavailability of skilled pediatric heart surgeons are anticipated to hamper the growth of the pediatric perfusion market in Latin America, the Middle East & Africa during the forecast period.
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Growing Rate of Cardiac Birth Defects to Boost the Market Growth
The soaring cases of cardiac birth defects especially congenital birth defects are majorly driving the growth of the market around the world. According to March of Dime, Nearly 1 in every 100 babies is born with a heart defect in the United States each year and about 1 in every 4 babies (about 25 percent) has a critical CHD.
However, strict regulatory guidelines for pediatric perfusion devices, lesser availability of pediatric heart surgeons, and, high cost accompanying the pediatric cardiac heart surgeries in low-income nations are expected to operate as key restraints towards the growth of pediatric perfusion products market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the pediatric perfusion products which includes company profiling of Medtronic (NYSE: MDT), Masimo (NASDAQ: MASI), Fluigent, Terumo Cardiovascular Systems (TYO: 4543), LivaNova PLC (NASDAQ: LIVN), Eurosets, General Electric Company (NYSE: GE), Nonin, Getinge AB (STO: GETI-B), Koninklijke Philips N.V. (AMS: PHIA), BL Lifesciences. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the pediatric perfusion products market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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