Therapeutic Hypothermia Systems Market worth $396 million by 2028
The report “Therapeutic Hypothermia Systems Market by Product (Cooling Devices, Cooling Catheters, Cool Caps), Application (Neurology, Cardiology, Neonatal Care), and Region (North America, Europe, Asia- Pacific, RoW) – Global Forecast to 2028″, is projected to reach USD 396 million by 2028 from USD 291 million in 2023, at a CAGR of 6.3% during the forecast period. The growth of this market is majorly driven by the growing number of hypothermia cases, the growing number of road accidents and sports injuries, the rise in the prevalence of traumatic brain surgery, the rise in the geriatric population, and the growing prevalence of chronic and infectious diseases.
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The cooling devices segment is expected to account for the largest share in 2022.
The therapeutic hypothermia systems market, by product, has been segmented into cooling devices, cooling catheters, and cool caps. In 2022, the cooling devices segment dominated the products market. This segment is also estimated to grow at the highest CAGR during the forecast period. The large share is due to its increasing importance in cardiac arrest, and it is less labor-intensive and easier to use.
The neurology segment held the largest market share in the therapeutic hypothermia systems market.
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 growing incidence of various neurological disorders such as Traumatic brain injury, strokes, and brain and brain tumors.
North America dominates the global therapeutic hypothermia systems market.
Based on the region, the therapeutic hypothermia systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North American market is driven by an increase in the incidence of cardiac arrests and neurological disorders and the availability of technologically advanced products. The Asia Pacific segment is projected to register the highest CAGR during the forecast period. Developing healthcare infrastructure, a rise in medical tourism, and government initiatives to increase the affordability of healthcare services are some of the major factors driving the growth of this regional market.
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Major players in the therapeutic hypothermia systems market include ZOLL Medical Corporation (Japan), Becton, Dickinson and Company (US), and Stryker Corporation (US).
Mr. Aashish Mehra
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