The process of providing oxygenated blood to the body's tissues is known as perfusion. Because they assist in replicating the function of the organ by pumping blood throughout the body, perfusion devices are frequently employed during organ transplant surgeries. Due to increased product releases by top market competitors and an increase in organ transplants, the global perfusion system market has lately enjoyed lucrative growth.
In the near future, it is anticipated that a key driver influencing the growth of the Perfusion System will be the increasing number of approvals and launches of new perfusion systems. In the near future, increased investment by significant market participants is also anticipated to fuel market expansion for perfusion systems globally. In addition, the growing requirement for organ transplants is anticipated to increase demand for perfusion systems and propel market expansion in the coming years.
Major Players in the Perfusion System Industry:
1. XVIVO Perfusion AB
XVIVO Perfusion AB was founded in 1998 and headquartered in Goteborg, Sweden. It has offices and research sites on three continents. MyCartis and XVIVO Perfusion AB announced their collaboration to develop a quick diagnostic tool to quickly evaluate the integrity of donated organs during ex-vivo perfusion in June 2019. Such a test can inform the transplant team and surgeon about the quality of an organ and the likelihood that the recipient will recover successfully.
2. Paragonix Technologies, Inc
Paragonix Technologies, Inc is a medical device company developing first-in class Organ Preservation and Transport Systems for optimum quality transplant organs. It was founded in 2010 and headquartered in Massachusetts, United States. The Company announced that it has raised $24 million in Series B funding, headed by Signet Healthcare Partners, in March 2023. The commercial reach of Paragonix Technologies, as well as its ongoing expansion of clinical service offerings and inventory expansion, will be strengthened by this growth investment, allowing the business to pursue transplant breakthroughs.
3. Organ Assist B.V.
Organ Assist B.V. was founded in 2005 and headquartered in The Netherlands. It has offices and research sites on three continents. XVIVO announced in September 2020 that it had entered into an agreement to acquire all shares of Organ Assist. The acquisition was conditional on XVIVO acquiring finance for the purchase price of up to EUR 24 million through a fresh share issuance, which the business successfully completed later that day.
4. Organ Recovery Systems
Organ Recovery Systems was founded in 1998 and headquartered in Illinois, United States. It operates in 17 countries.
5. Organ Transport Systems
Organ Transport Systems was founded in 1999 and headquartered in Texas, United States. It operates in different countries.
6. Waters Medical Systems
Waters Medical System is a publicly traded analytical laboratory instrument and software company. It was founded in 1958 and headquartered in Massachusetts, U.S. It operates in 35 countries globally.
7. TransMedics, Inc.
TransMedics, Inc. was founded in 1998 and headquartered in Massachusetts, United States. It operates in many countries. In September 2021, TransMedics Group, Inc., a medical technology company, announced that the United States Food and Drug Administration (FDA) had granted premarket approval (PMA) for its OCS Liver System for use with organs from donors after brain death (DBD) and after circulatory death (DCD). TransMedics Group, Inc. is transforming organ transplant therapy for patients with end-stage lung, heart, and liver failure.
8. OrganOx Limited
OrganOx Limited was founded in 2008 and headquartered in Oxfordshire, United Kingdom. It operates worldwide. OrganOx, a global pioneer in normothermic machine perfusion (NMP), announced in December 2021 that the US Food and Drug Administration (FDA) has awarded premarket clearance (PMA) for their metra system.The OrganOx metra is a fully automated NMP system that is used to preserve and transport donor livers for transplantation. Both livers from donors after brain death (DBD) and livers from donors after circulatory death (DCD) have received marketing authorisation.
9. Bridge to Life Ltd
Bridge to Life Ltd was founded in 2005 and headquartered in Illinois, United States. It operates in over 60 countries. The U.S. Food and Drug Administration (FDA) has approved Bridge to Life, Ltd.'s LifeCradle® Heart Preservation Transport System as a breakthrough product. Bridge to Life, Ltd. is a leading global provider of organ preservation solutions and organ perfusion technology. Using hypothermic, oxygenated, and nutritional perfusion from the time the organ is obtained until it is transplanted into the recipient, the LifeCradle® Heart Preservation Transport System allows for the preservation, storage, monitoring, and transportation of donor hearts.
*Definition: Perfusion is the passage of fluid through the circulatory system or lymphatic system to an organ or a tissue, usually referring to the delivery of blood to a capillary bed in tissue.
