Global Temperature Management (Therapeutic Hypothermia) Market - 2024-2031

Overview

Global Temperature Management (Therapeutic Hypothermia) Market reached US$ 2.5 billion in 2023 and is expected to reach US$ 4.2 billion by 2031, growing at a CAGR of 6.4% during the forecast period 2024-2031

Therapeutic hypothermia is a medical intervention that controls body temperature to protect the brain and other vital organs after events like cardiac arrest, stroke, or traumatic brain injury. It slows down metabolic processes, reduces inflammation, and limits ischemic damage. This technique is often used to improve survival rates and neurological outcomes in patients with brain oxygen deficiency, minimizing cellular injury and apoptosis, and promoting recovery.

Market Dynamics: Drivers & Restraints

Rise in technological advancements

Technological advancements are also projected to increase the market demand due to the introduction of new temperature management systems, such as surface pads, blankets, and head caps. Moreover, key strategic initiatives such as collaboration and partnership propel market growth.

For instance, in April 2023, Augustina Surgical Inc. partnered with Baxter to launch the Baxter Patient Warning system. The growing need for modern temperature management systems has led to the introduction of a wide range of surface warming and cooling systems, accelerating market growth.

Lack of awareness

The use of warming and cooling systems to manage patient core temperatures requires professionals with relevant experience and knowledge. The introduction of advanced monitoring devices by market players has increased the need for proper training. These advancements help provide near-core and core temperature ranges to avoid high fever and hypothermia risks. However, lack of awareness among doctors and healthcare practitioners about these advancements and a shortage of skilled personnel limit their adoption.

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Segment Analysis

The global temperature management (therapeutic hypothermia) market is segmented based on device type, technique type, application, end-user, and region.

The cooling catheters from the device type segment accounted for approximately 41.3% of the temperature management (therapeutic hypothermia) market share

The cooling catheters from the device type segment accounted for approximately 41.3%. Cooling catheters are essential in the global temperature management market for patients undergoing therapeutic hypothermia. They provide precise, internal cooling by inserting them into large blood vessels, circulating chilled saline or advanced cooling technologies. This method is effective in achieving target temperatures quickly and consistently, making it a preferred option for healthcare providers. The demand for cooling catheters is growing due to their efficiency, ease of use, and ability to improve clinical outcomes in patients suffering from cardiac arrest, traumatic brain injuries, and strokes.

Geographical Analysis

North America is estimated to hold about 41.04% of the total market share throughout the forecast period

North America is estimated to hold about 41.04% of the total market share throughout the forecast period due to high prevalence of cardiovascular and neurological disorders, such as cardiac arrest, stroke, and traumatic brain injury, drives the market for therapeutic hypothermia interventions. Investments in medical research and innovation drive advancements in these systems. Collaborations between research institutions, healthcare organizations, and industry players create more effective cooling devices, positioning North America as a hub for technological innovation.

For instance, a 2023 Harris Poll survey by the American Heart Association found that 51% of respondents did not identify heart disease as the leading cause of death in the U.S. Heart disease, along with stroke, the fifth leading cause of death, claimed more lives in 2021 than all forms of cancer and chronic lower respiratory disease combined. This highlights the ongoing issue of heart disease in the U.S.

Market Segmentation

By Device Type

• Cooling catheters
• Water blankets
• Cool caps
• Others

By Technique Type

• Non-invasive
• Invasive

By Application

• Neurology
• Cardiology
• Neonatal care
• Orthopaedics
• Others

By End User

• Hospitals
• Emergency units
• Ambulatory surgical centers
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • 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

Competitive Landscape

The major global players in the market include Koninklijke Philips N.V, Medtronic Plc, Smiths Medical, Inc, Stryker Corporation, Bard Medical, Inc, BeneChill, Inc, Belmont instrument corporation among others.

Key Developments

• In January 2024, SourceMark announced an expanded partnership with Gentherm Medical, a leading manufacturer of patient temperature management systems. SourceMark is now the master supplier of certain Gentherm product lines in the United States, including Gelli-Roll, a reusable warming and cooling gel pad. This partnership may help Gentherm to expand its presence in the market.
• In July 2023, ZOLL, an Asahi Kasei company announced that it has entered into an agreement with BrainCool, for the exclusive distribution of the BrainCool System/lQool System and the IQool System Pads in the U.S. and key markets in Europe and is working towards expanding distribution to select markets in Asia. This partnership may help the company to gain a competitive edge over its peers and acquire an enhanced customer base.

Why Purchase the Report?

• To visualize the global temperature management (therapeutic hypothermia) market segmentation based on device type, technique 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 the temperature management (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 available as excel consisting of key products of all the major players.

The global temperature management (therapeutic hypothermia) market report would provide approximately 64 tables, 61 figures and 186 pages.

Target Audience 2023

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