Increasing cases of cardiac arrest and growing investment in research and development for advanced hypothermia management systems will improve sales prospects
Increasing cases of cardiac arrest and growing investment in research and development for advanced hypothermia management systems will improve sales prospects
According to a study by Fact.MR, the hypothermia management market is expected to witness substantial growth through 2021 and beyond. Growth registered will be underpinned by the increasing prevalence of chronic conditions such as cardiac arrest, traumatic brain injury, neurological impairments and others.
The rising demand for effective therapies and surgical procedures amid growing cases of chronic conditions, which often leads increasing use of anesthesia, will drive the growth of hypothermia management market. Surging cases of brain damage and cardiac arrest, especially among ageing population with neurological impairment will create growth opportunities.
According to the Center for Disease Control and Prevention 2020 report, there are more than 356,000 out-of-hospital cardiac arrests annually in the U.S., nearly 90% of them fatal. Also, around 1000 people every day in U.S. suffer from cardiac arrest. Patients with cardiac arrest can suffer from brain damage and neurological impairments.
To prevent this, hypothermia management systems are extensively used. According to the study, increasing investments in the expansion of healthcare infrastructure and e is expected to provide lucrative growth opportunities for the key players over the coming years.
“Hypothermia management market players are increasingly focusing on innovative product launches and integration of advanced technology to deliver hypothermia management with better quality,” says the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Hypothermia management Study
- Hospitals and surgical centers are expected to be the primary end users of the market
- Based on age group, adults are more likely to need the hypothermia management systems on the back of growing cases of cardiac arrests
- The U.S. is expected to be the most lucrative market backed by the technological advancements in its healthcare industry
- Germany is expected to be the 2nd most lucrative country and will lead the Europe’s hypothermia management market throughout the forecast period
- Increasing technological advancement across India’s healthcare industry is likely to spur the market growth
- The U.K. and France will witness an impressive growth backed by the rising prevalence of chronic diseases in the regions
Prominent Drivers
- Increased cases of chronic conditions will drive the demand of hypothermia management systems
- High demand among physician surgeons and from pharmaceutical industry is expected to bolster the market growth
Key Restraints
- High cost of intravascular temperature management systems is expected to restraint for the market
- Lack of awareness about the hypothermia management in economies such as India and Brazil is expected to hamper the market demand
Discover more about the hypothermia management market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/hypothermia management-market
Competitive Landscape
The market is expected to be fragmented, leading to heightened competition levels. Therefore, a variety of expansion strategies are being deployed by the key market players. Leading players in the global hypothermia management market are also focusing on acquisitions of the companies that offer specialized products and projects potential to generate substantial revenue. By acquiring these companies, manufacturers in the market aim to have a stronger product portfolio as compared to its competitors.
In September 2019, Smiths Medical, a leading global medical device manufacturer announced the launch of the Level 1® convective warmer. This next-generation high-flow convective warmer provides health care providers a quiet, simple and safe thermal care solution to help patients maintain normal body temperature through every stage of surgery.
Some of the players profiled by Fact.MR includes:
- Attikouris Enterprises Ltd.
- MTRE Advanced Technologies Ltd.
- Stryker
- Becton
- Dickinson and Company
- ZOLL Medical Corporation
- GENTHERM.
- Belmont Medical Technologies
- 3M
- C.R. Bard, Inc
- Abb Ltd
- Deltatrack
- Fluke Corporation
- Others
More Insights on the Hypothermia Management Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global hypothermia management market. The study divulges compelling insights on the market based on:
Product
- Conventional Warming System
- Intravascular Warming System
- Surface Warming System
Hypothermia
- Acute Hypothermia
- Chronic Hypothermia
- Exhaustion Hypothermia
- Perioperative Hypothermia
Age Group
- Pediatrics
- Adults
End-User
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Source: Fact.MR