The Middle East & Africa medical perfusion technology market is expected to reach US$ 47.2 million by 2027 from US$ 40.6 million in 2019. The market is estimated to grow at a CAGR of 2.0% 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 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.
As of March 5, 2021, South Africa reported 1,517,666 COVID-19 cases; Iran reported 1,665,103 cases; and Turkey reported 2,746,158 cases.Economic uncertainties and ongoing conflicts are worsening the condition in the region.
For instance, countries such as Syria, Libya, and Yemen are suffering violent conflicts, and they cannot implement any public health measures.Iran was in deep economic recession due to the US sanctions.
The major source of economic stabilization in the Middle East countries is oil production and export.However, the recent pandemic is causing turbulence in the economies of the Middle East region.
A sudden drop in domestic and external demand for goods and products, especially crude oil, and halted production due to labor shortage, are the major impacts observed in the region.
The spread of coronavirus in the region caused heavy burdens on healthcare professionals.Cardiac surgeons were overloaded with emergency cardiac surgeries, management of coronavirus patients, and implementation of safety guidelines to prevent the spread of virus.
Rapid spread to virus impacted to elective surgeries and organ transplantation procedures. These factors are projected to hamper the growth of the Middle East & Africa medical perfusion technology market.
Based on technique, the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa medical perfusion technology market are the World Health Organization (WHO) and The Ministry of Health and Prevention (MoHAP), UAE, among others.
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