Pediatric congenital heart surgery has been performed using pediatric perfusion devices for the past four decades. Each year, over 18,000 pediatric open-heart surgeries are performed in North America. The majority of pediatric open heart surgeries are performed on infants younger than one year. A congenital ventricular septal defect is the leading cause of pediatric bypass. Pediatric perfusion devices are mechanical circulatory support (MCS) devices used in open heart surgery to divert blood from the heart and lungs and maintain blood circulation. As new devices and techniques are developed, the market for pediatric perfusion devices is constantly changing. On the market for pediatric perfusion devices, the development of new and improved blood pumps is anticipated to meet significant unmet needs and improve the innovative landscape of mechanical circulatory support devices. However, the rate of innovation in pediatric perfusion device penetration varies greatly by region. According to a survey conducted by The Pediatric Perfusion Committee, the adoption rate for recently introduced integrated arterial line filters is 23% in North America and 10% in Asia. However, the introduction of integrated line filters revealed a decline in the volume of traditional standalone arterial line filters, and it is anticipated that integrated line filters will overtake traditional standalone filters' market share in the coming years. pediatric perfusion devices market is also expected to witness a CAGR of 5.5% during the forecast period of 2024 to 2032.

The growth of the pediatric perfusion devices market is primarily driven by the rising incidence of congenital heart defects and the increasing penetration of mechanical circulatory support devices. As a result of research efforts and enhanced patient care, technological advances in the field of pre-perfusion filters and other pediatric perfusion devices would fuel the growth of the global market. In addition, a number of pediatric perfusion devices are being developed for patients with complex congenital heart diseases (CHD) and are undergoing rigorous testing; these devices are anticipated to enter the market during the forecast period. However, the high cost of devices and the dearth of pediatric perfusionists in low- to middle-income countries are anticipated to restrain the growth of the global pediatric perfusion devices market during the forecast period.

Blood parameter monitoring or continuous in-line monitoring devices are anticipated to have the highest adoption rate of all pediatric perfusion devices in all regions. Safety devices, including bubble traps, arterial filters, and pumps, are anticipated to account for the largest market share by value in the global pediatric perfusion devices market. The hospital end-user segment dominates the global pediatric perfusion devices market due to the need for highly advanced infrastructure to perform open heart surgeries.

According to the CDC, approximately 1% of the U.S. pediatric population is affected by congenital heart disease each year. In the past five years, the prevalence of mild congenital heart diseases has increased while the prevalence of severe congenital heart diseases has remained stable. The Cincinnati Children's hospital reports that over 20,000 pediatric open-heart surgeries are performed annually in the United States. Due to the high prevalence of congenital heart diseases in the U.S., the rise in the rate of congenital heart disease diagnosis, the high rate of open-heart surgery, and the well-established healthcare infrastructure, North America captured the largest share of the global pediatric perfusion devices market.

In 2023, Germany, France, and the United Kingdom dominated the pediatric perfusion market in Europe. The markets in Italy and Spain are anticipated to grow significantly over the forecast period. High market shares of Germany, France, and the United Kingdom can be attributed to their highly developed healthcare industry, high rate of diagnosis and treatment of congenital heart diseases, availability of sophisticated instruments in hospitals, and presence of ambulatory surgery centers.

In 2023, the Asia-Pacific pediatric perfusion market was dominated by China and Japan. The market in India is anticipated to expand at a high CAGR over the next few years due to the country's large newborn population and developing healthcare sector. During the forecast period, the market for pediatric perfusion in Latin America and the Middle East & Africa is expected to be hindered by an absence of skilled pediatric surgeons and a lack of developed healthcare infrastructure.

Medtronic Inc., Sorin Group, Terumo Corporation, BL Lifesciences, Eurosets, Nonin Medical Inc., and others have been identified as key players in the global pediatric perfusion devices market.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Pediatric Perfusion Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Pediatric Perfusion Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Pediatric Perfusion Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Pediatric Perfusion Devices market?
• Which is the largest regional market for Pediatric Perfusion Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Pediatric Perfusion Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Pediatric Perfusion Devices market worldwide?