South and Central America Medical Perfusion Technology Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technique, Organ Type; Component

The South and Central America medical perfusion technology market is expected to reach US$ 30.9 million by 2027 from US$ 24.7 million in 2019. The market is estimated to grow at a CAGR of 2.9% from 2020 to 2027.

Factors such as rising prevalence of cardiovascular conditions and increasing practice of organ transplantation are anticipated to drive the market. However, the market is expected to experience slow growth during the forecast period, owing to the expensive organ transplant surgeries.

Organ transplantation is a surgical process carried out when a patient’s organ stops functioning completely. The organ transplant is commonly done for the organs such as heart, liver, and kidney. However, the rising cases of the chronic diseases are leading to the need for transplantation of other organs such as lungs, pancreases, cornea, and vascular tissues. Organ transplantation is considered as one of the prominent advancements in the modern medical industry.

As the number of organ transplantation surgeries is rising across the region, it is leading to an increase in demand for organ donation. The public-private partnership in assistance with the transplant coordinators has enormously contributed to the improvement of the organ transplantation. The increasing incidence of kidney diseases are likely to increase the demand for kidney transplantation in the next few years. Therefore, the growing number of heart and kidney diseases, coupled with increasing organ transplantation, is anticipated to drive the medical perfusion technology market during the forecast period.

The South and Central America region has been witnessing a growing number of COVID-19 cases since its outbreak. For instance, according to Worldometer, the number of cases has reached around 17 million with 0.5 million deaths reported in South America as of March 5, 2021. The cases are increasing in Brazil, Argentina, and Colombia. The COVID-19 outbreak is expected to result in the region's worst recession, causing a 9.1% contraction in regional GDP in 2020. This is expected to increase the number of poor up by 45 million and the extremely poor number by 28 million. The COVID?19 pandemic is a critical test for the already overburdened and underfunded public healthcare systems of South and Central America. State-run hospitals and clinics are already overstressed by the treatment of vector?borne diseases and community?acquired infections and high rates of non?communicable diseases (NCDs). Also, the prevention and treatment of NCDs have been critically affected since the onset of the COVID-19 in the region, as per the Pan American Health Organization (PAHO). Before COVID-19, approximately 81% of all deaths in the region were due to NCDs. Along with these factors, the pandemic also had a negative impact on the organ transplantations. According to a data published by the group of researchers at the University of São Paulo, in 2020, the rate of liver transplantations in the Brazil witnessed a drastic decline due to coronavirus. Moreover, majority of the patients refused any kind of surgical procedure owing to the risk of getting infected by the virus. These factors had a potential impact on the South and Central America medical perfusion technology market.

Based on technique, the South and Central America medical perfusion technology market is segmented into hypothermic machine perfusion and normothermic machine perfusion. The hypothermic machine perfusion segment held the largest market share in 2019, whereas the normothermic machine perfusion segment is anticipated to register the highest CAGR in the market during the forecast period.

In terms of organ type, the South and Central America medical perfusion technology market is segmented into heart, lung, kidney, liver, and others. The kidney segment held the largest market share in 2019, whereas the heart segment is anticipated to register the highest CAGR in the market during the forecast period.

Based on component, the South and Central America medical perfusion technology market is segmented into perfusion pumps, oxygenators, heart-lung machines, monitoring systems, cannulas, and others. The oxygenators segment held the largest market share in 2019, also the same segment is anticipated to register the highest CAGR in the market during the forecast period.

A few of the primary and secondary sources referred to while preparing the report on the South and Central America medical perfusion technology market are the World Health Organization (WHO) and Economic Commission for Latin America (CEPAL), among others.