Chicago, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Therapeutic Hypothermia Systems market in terms of revenue was estimated to be worth $291 million in 2023 and is poised to reach $396 million by 2028, growing at a CAGR of 6.3% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Increasing demand for targeted temperature management in cardiac arrest and the rising number of hypothermia cases are the factors driving the growth of this market. However, the availability of alternative methods and a lack of awareness regarding therapeutic hypothermia systems in developing countries are restraining the growth of the therapeutic hypothermia systems market during the forecast period.
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Therapeutic Hypothermia Systems Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $291 million |
| Estimated Value by 2028 | $396 million |
| Growth Rate | Poised to grow at a CAGR of 6.3% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, and End User |
| Geographies Covered | North America, Europe, Asia Pacific, Rest of the World |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Increasing growth opportunities in developing countries |
| Key Market Driver | Increasing number of surgical procedures |
Based on the product, the therapeutic hypothermia systems market is classified into cooling devices, cooling catheters, and cool caps. The cooling devices segment dominated the market in 2022. The large share of the segment can be attributed to the growing need for cooling systems in diverse hospital settings and the rising adoption rate of cardiac surgical procedures.
Based on the application, the therapeutic hypothermia systems market is segmented into Neurology, Cardiology, Neonatal care, and other applications. The neurology segment dominated the therapeutic hypothermia systems market in 2022. The large share of this segment can be primarily attributed to the positive improvement in neurological outcomes at several neurological conditions and the increase in the number of surgical procedures.
Based on the region segmentation, the Therapeutic hypothermia systems market is divided into North America, Europe, Asia Pacific, and Rest of the World. North America holds the largest share and expects to dominate the therapeutic hypothermia systems market. Growth in the North American market is mainly driven by the initiatives made by the large volume of surgical procedures and growth in the geriatric population.
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Therapeutic Hypothermia Systems market major players covered in the report, such as:
- ZOLL Medical Corporation (Japan)
- Becton, Dickinson and Company (US)
- Stryker Corporation (US)
- Gentherm Incorporated (US)
- Belmont Medical Technologies (US)
- International Biomedical Ltd. (US)
- EM-MED (Poland)
- Phoenix Medical Systems (India)
- Life Recovery Systems (US)
- Shenzhen Comen Medical Instruments Co., Ltd. (China)
- MiraCradle (India)
- Terumo Cardiovascular Systems Corporation (US)
- pfm medical hico gmbh (Germany)
- VNG Medical Innovation System Pvt. Ltd. (India)
- Aspen Systems (US)
- CoolTech Medical (US)
- Global Healthcare SG (Singapore)
- Cryothermic Systems Incorporated (US)
- Paxman Coolers Ltd. (UK)
- Dignitana AB (Italy)
- Wishcaps (US)
- and Among Others
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This research report categorizes the Therapeutic hypothermia systems market into the following segments:
Regional Split
- North America
- Europe
- Asia Pacific
- Rest of the World
Product Split
- Cooling Devices
- Cooling Catheters
- Cool Caps
Application Split
- Neurology
- Cardiology
- Neonatal Care
- Other Application
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Key Market Stakeholders:
- Senior Management
- Finance/Procurement Department
- R&D Department
- Surgeons and Anaesthesiologists / Paramedical Staff/Nursing Staff
Report Objectives:
- To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To define, describe, segment, and forecast the therapeutic hypothermia systems market by product, application, and region
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall therapeutic hypothermia systems market
- To forecast the size of the therapeutic hypothermia systems market in five main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific, Rest of the world.
- To profile key players in the therapeutic hypothermia systems market and comprehensively analyze their core competencies and market shares
- To track and analyze competitive developments, such as acquisitions; product launches; expansions; collaborations, agreements, & partnerships; and R&D activities of the leading players in the therapeutic hypothermia systems market.
- To benchmark players within the therapeutic hypothermia systems market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy
Related Reports:
Nuclear Medicine Market / Radiopharmaceuticals Market
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