Therapeutic Hypothermia Systems Market to be at Forefront by 2025
Therapeutic hypothermia, also known as targeted temperature management or protective hypothermia, is reduction of body temperature, from 32 °C to 34 °C for faster recovery. Therapeutic hypothermia is crucial in the treatment of cardiovascular conditions cardiac arrests and myocardial infarction. Therapeutic hypothermia improves neurological functioning after resuscitation from cardiac arrest. This stabilizes calcium and glutamate levels in the brain cells leading to reduction in cell death. Hence, reduction of body temperature during a surgery is said to increase chances of survival in patients.
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The global therapeutic hypothermia systems market is anticipated to expand at a significant growth rate in the next few years. Rise in prevalence of cardiovascular diseases is one of the major factors fueling the growth of the global therapeutic hypothermia systems market. According to the American Heart Association, cardiovascular disease account for 2,200 deaths in the U.S. each day. This is likely to drive the global therapeutic hypothermia systems market during the forecast period. Rise in surgeries, prevalence of unhealthy lifestyle, increasing prevalence of neurological conditions, and growing geriatric population are the factors boosting the growth of the global therapeutic hypothermia systems market. Technological advancements leading to higher penetration of devices in many regions are propelling the growth of the global market during the forecast period. Unfavorable regulatory reforms in the U.S., stringent regulatory policies, and high price of the systems are factors expected to restrain the global therapeutic hypothermia market from 2017 to 2025.
The global therapeutic hypothermia systems market can be segmented based on technique, device type, application, end-user, and region. In terms of technique, the market can be categorized into non-invasive and invasive. Based on device type, the global therapeutic hypothermia systems market can be segmented into cooling catheters, water blankets, cool caps, and others. In terms of application, the market can segmented into neurology, cardiology, neonatal care, orthopedics, and others. The cardiology segment is projected to account for the largest market share owing to high prevalence of cardiovascular conditions. Based on end-user, the global market can be categorized into hospitals, emergency units, ambulatory surgical centers, and others. The hospitals segment is expected to account for the largest share in terms of revenue due to growing preference of patients for hospitals than other healthcare providers’ world over.
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Geographically, the global therapeutic hypothermia systems market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to dominate the global therapeutic hypothermia systems market in terms of both revenue and volume. Higher penetration rate, increase in health care expenditure, developed health care infrastructure, and prevalence of unhealthy lifestyle are the major factors likely to drive the therapeutic hypothermia systems market in the region during the forecast period. Asia Pacific is expected to be the fastest growing market for therapeutic hypothermia systems during the forecast period due to factors such as developing health care infrastructure, government initiatives, prevalence of unhealthy lifestyle, and technological advancements.
Key players in the global therapeutic hypothermia systems market are MTRE Advanced Technologies Ltd., EMCOOLS Medical Cooling Systems GmbH, Koninklijke Philips N.V., and C. R. Bard, Inc., among others.
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