Global Therapeutic Hypothermia Market - 2024-2031

Report Overview

The Global Therapeutic Hypothermia Market reached US$ 288 million in 2023 and is expected to reach US$ 458.11 million by 2031, growing at a CAGR of 6.1% during the forecast period 2024-2031.

Therapeutic hypothermia or temperature management is an active treatment that tries to achieve and maintain a specific body temperature in a person for a specific duration of time to improve health outcomes during recovery after a period of stopped blood flow to the brain. This is done in an attempt to reduce the risk of tissue injury following a lack of blood flow. Periods of poor blood flow may be due to cardiac arrest or the blockage of an artery by a clot as in the case of a stroke.

Beneficial effects of therapeutic hypothermia have also been discovered, and progress has been made toward improving the benefits of therapeutic hypothermia further through combination with other neuroprotective treatments and by probing the mechanism of hypothermia neuroprotection.

Market Dynamics: Drivers

Increasing prevalence of neurological and cardiovascular diseases

The demand for the global therapeutic hypothermia market is driven by multiple factors. The rising prevalence of neurological and cardiovascular diseases propels the market growth. For instance, according to the World Heart Federation.org, an article published on 20 May 2023, deaths due the cardiovascular diseases have increased from 12.1 million in 1990 to 20.5 million in recent times. The increase in air pollution, tobacco use, and increase in high blood pressure cases increased from deaths due to cardiovascular diseases in recent times.

According to an article posted on the World Health Organization website in March 2024, neurological diseases have increased by 18% in recent times, and over 1 in every 3 people are being affected by neurological disorders. It is estimated that more than 3 billion people are living with neurological diseases among the overall global population. Neurological conditions cause more disability and health loss in men compared to women, but there are some conditions like migraine or dementia where women are disproportionately affected.

Restraints

Factors such as the complexity involved in the procedures related to therapeutic hypothermia and stringent regulatory requirements are expected to hamper the market.

Market Segment Analysis

The global therapeutic hypothermia market is segmented based on product type, application, end-user, and region.

The segment neurology accounted for approximately 43.4% of the global therapeutic hypothermia market share

The neurology segment is expected to hold the largest market share over the forecast period. In this segment, the increase in the prevalence of neurological diseases and the increase in the usage of therapeutic hypothermia in this segment would drive this market.

According to nih.gov, therapeutic hypothermia was shown to be neuroprotective in both cardiac arrest patients and neonatal HIE patients, there is hope that it will similarly reduce morbidity and mortality following ischemic stroke. Indeed, a few preclinical studies showed that mild therapeutic hypothermia initiated during acute ischemic stroke or after a short delay reduced infarct size and mitigated functional impairment in a recent meta-analysis. In addition to these studies, another study showed feasibility and tolerability and established regimens to prevent or reduce shivering in the typically awake stroke patient.

For instance, in a recent multicenter study, an endovascular cooling device was used in combination with the administration of recombinant tissue plasminogen activator (rt-PA) in acute stroke patients. Here, patients could be treated within 0-6 h of symptom onset followed by endovascular cooling to 33oC for 24 h. While the study was not designed to evaluate the relative efficacy of therapeutic hypothermia, this regimen appeared well tolerated, although there was an increased incidence of pneumonia amongst cooled patients. A few clinical trials in ischemic stroke showed promising effects of therapeutic hypothermia.

Market Geographical Analysis

North America accounted for approximately 47.2% of the global therapeutic hypothermia market share

North America region is expected to hold the largest market share over the forecast period. The rising incidence of neurological and cardiovascular diseases, growing awareness among people about the benefits that are associated with therapeutic hypothermia, and the presence of major players in this region, help to propel the market.

For instance, according to an article posted by the Pan American Health Organization (PAHO) in March 2024, there have been 5,33,172 deaths due to various neurological disorders and conditions in the US. Among these 5,33,172 deaths, 2,13,129 were male and the remaining 3,20,043 were female. In the entire population of the US, there are 32.9 deaths per 100,000 population. In the men population, there are 33.1 deaths per 100,000 population, and in the female population, there are 32.2 deaths per 100,000 population.

Moreover, according to an article posted in May 2024 by cdc.gov, cardiovascular diseases are the leading cause of death among the population in the US. For every 33 seconds, one person is being dead due to cardiovascular disease. 1 in every 5 deaths is due to the cardiovascular disease. The increase in prevalence of neurological and cardiovascular diseases being the main driving factor is seen in the North American region which accounts for the largest market share.

Market Segmentation

By Product Type

• Surface cooling packs
• Surface heat exchange device
• Surface cooling helmet
• Catheter technology
• Cold fluids infusion
• Others

By Application

• Neurology
• Cardiology
• Neo-natal care

By End-User

• Hospitals
• Specialty Clinics
• Ambulance and Emergency Medical Service
• Academic and Research Institutes
• Others

By Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Spain
• Italy
• Rest of Europe
• South America
• Brazil
• Argentina
• Rest of South America
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
• Middle East and Africa

Market Competitive Landscape

The major global players in the global therapeutic hypothermia market include Asahi Kasei Corporation, Becton Dickinson and Company, Shenzhen Comen Medical Instruments Co., Terumo Cardiovascular Systems Corporation, Phoenix Medical Systems, Gentherm Medicals, International Biomedical Ltd., Global Healthcare SG, Stryker Corporation, Aspen Systems among others.

Key Developments

• In 2023, a medical device manufacturing company braincool which manufactures and offers therapeutic hypothermia systems signed an agreement with the Asahi Kasei Corporation, a Japan-based company for cooling systems and cooling pads for European and US markets.
• In January 2024, SourceMark Medicals announced an expanded partnership with Gentherm Medicals. SourceMark is the master supplier of certain Gentherm patient warming product lines in the United States, including Astopad(R), a resistive warming system designed to prevent and treat hypothermia, Norm-O-Temp(R), a whole-body hyperthermia system, Gelli-Roll(R), a reusable warming and cooling gel pad, the WarmAir(R) convective patient warming system, and FilteredFlo(R) patient warming air blankets.
• In March 2023, a company called NICE came into partnership with Aspen Group. This partnership leverages NICE's advanced cold compression technology with Aspen's effective bracing solutions to deliver pain management and post-operative care to patients recovering from surgery or injury. NICE therapy pads seamlessly attach to the market-leading Vista Cervical Collar and the Horizon 637, allowing patients to receive cold therapy pneumatic compression in an all-in-one, easy-to-use device. This reduces symptoms of swelling, assists with lymphatic drainage, and improves recovery outcomes.

Why Purchase the Report?

• To visualize the global therapeutic hypothermia market segmentation based on product type, application, end-user, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development
• Excel data sheet with numerous data points of global therapeutic hypothermia market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping is available in Excel consisting of key products of all the major players.

The global therapeutic hypothermia market report would provide approximately 51 tables, 54 figures, and 181 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies