Intravascular Temperature Management Market: Overview with Detailed Analysis, Competitive landscape
Intravascular temperature management is a process which helps in achieving and maintaining a specific temperature in the patient’s body for a certain period of time. It mostly caters to hyperthermia, hypothermia, surgical procedures, and others. By using intravascular temperature management systems, a specified temperature is maintained in the patient’s body for further processes. It includes infusing hot or cold saline solution in the patient’s body via catheters in closed circuits. Patients are prevented from infections through temperature management while undergoing surgical process. Intravascular temperature management is also crucial in preventing post-operative and pre-hypothermia complications. Rise in initiatives by the government plays an important role in supporting the growth of the intravascular temperature management market during the forecast period.
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The global intravascular temperature management market is projected to show promising growth in the next few years, attributed to the rising awareness of the procedure through public and private campaigns. Rapid acceptance of patient warming and cooling systems, growth of geriatric population, and technological advancements are the major factors driving the global market. Furthermore, rise in demand for temperature techniques due to increasing chronic and cardiac illnesses across the globe is boosting the market growth. Surgical procedures are performed on a large scale globally which is also a major contributor in the growth of the intravascular temperature management market. Rise in prevalence of nervous system diseases is creating need for temperature management techniques. However, surgical procedures are expensive and are not affordable to the majority of the patient population, which is likely to impede the growth of the global intravascular temperature market in the near future. Nevertheless, major companies are taking initiatives in investing in the market through mergers & acquisitions, partnerships, etc., which are projected to be create growth opportunities for the global intravascular temperature management market in the next few years. Also, untapped potential in the developing economies in the world is expected to boost the global market during the forecast period.
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The global intravascular temperature market can be segmented based on product type, application, end-user, and region. Based on product type, the market can be classified into intravascular warming and intravascular cooling. The intravascular cooling segment is likely to grow rapidly in the next few years due to increase in awareness of the product in treatment of chronic cardiac conditions. In terms of application, the intravascular temperature management market can be bifurcated into acute care, perioperative care, new born care, and others. The perioperative care segment is leading the market owing to rise in incidence of chronic disorders, which require surgical interventions, followed with hypothermia. Based on end-user, the intravascular temperature management market can be divided into hospitals, ambulatory surgical centers, and others. By region, the global intravascular temperature management market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global intravascular temperature management market owing to rise in demand for intravascular temperature techniques, technological advancements, well-developed health care infrastructure, increase in number of surgeries, surge in prevalence of cardiac arrest, neurological disorders, etc. in the region. North America is followed by Asia Pacific and Europe in terms of leading the global intravascular temperature market. Asia Pacific is likely to be the fastest growing market for intravascular temperature management in the near future owing to rise in prevalence in chronic illnesses, increase in surgical procedures, and growth in geriatric population in countries, such as, Japan, South Korea, and China, besides thriving investments made by key players in the region. Middle East & Africa and Latin America are the niche market for intravascular temperature management owing to the developing health care system in the regions.
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Major players operating in the global intravascular temperature management market include ZOLL Medical Corporation, Smiths Group plc, Stryker, 3M, Medtronic, Becton Dickinson and Company, Belmont Instrument Corporation, Biegler GmbH, Geratherm Medical AG and The Surgical Company.
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