Intravascular Cooling Market is Anticipated to Reach a Value of USD 333.4 Million by Growing at a CAGR of 2.5% During 2022-2028; Growing Adoption of Smart Medical Devices to Elevate Market Growth
SkyQuest Technology Consulting Pvt. Ltd.
5 min read
SkyQuest Technology Consulting Pvt. Ltd.
The most recent market research study of the intravascular cooling market from SkyQuest is an important tool for companies looking to get a competitive edge in this market. The research provides in-depth insights into the most recent market developments, demographic shifts, and consumer preferences, assisting businesses in making smart marketing choices. Because of the market's intense competition, success depends on having a sound marketing plan. The study offers insightful data that can be used to develop a solid marketing strategy and put it into practice.
Westford USA, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The North America region is predicted to gain the biggest share of the intravascular cooling market during the forecast period. The growth of the market can be ascribed to the availability of a good healthcare system, significant device technological advancements, and the rapidly rising prevalence of neurological disorders. The global market is expanding as a result of rising occurrences of sudden cardiac arrests and rising intravascular cooling catheter usage for treating hypothermia. The creation of governmental guidelines for the management of hypothermia-induced cardiac arrest is also anticipated to propel the global market over the forecast period.
According to SkyQuest, more people experience mild, preventable hypothermia, especially in at-risk populations. Still, each year, more than 1,250 Americans pass away from hypothermia. Additionally, it is anticipated that encouraging the use of intravascular cooling catheters for clinical hypothermia to enhance neurological recovery following cardiac arrest will spur market expansion.
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Intravascular cooling or temperature management is the process of freezing or raising the warmth as per the needs of the patient from the inside out, and it is done by inserting a catheter into the venous system and the equipment it is paired with to control the blood's temperature. When compared to other techniques for controlling surface temperature, this technique quickly elevates the necessary body temperature, making administration quick and efficient.
Pre-operative Care Unit Segment to Witness Highest Market Growth Owing to Increasing Incidences of Blood Clots
Patients in the pre-operative care unit (PCU) are a high-risk group who have a higher chance of getting blood clots. One sort of therapy that has been proven to lower these patients' risk of blood clots is intravascular cooling. Because of the rising demand from PCU patients and surgeons, the market is expanding quickly. The fact that intravascular cooling is a safe and efficient treatment for lowering the risk of blood clots is one factor contributing to the increase in demand for it.
The intravascular cooling market in North America gained a substantial market share in 2021 and is predicted to garner the highest market share during the forecast period. The growth of the market can be ascribed to the increasing rate of surgeries in the region. Additionally, an inflow of patients with neurological diseases are being admitted to hospitals for surgery or other procedures that require postoperative care treatment using adult ICU equipment as a result of the growing geriatric population base in the region. SkyQuest found during research that recently at least one of the over 1000 neurological illnesses afflicted close to 100 million Americans. Hence, all these factors are anticipated to boost market growth.
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Traumatic Brain Injury (TBI) Segment to Grow at the Highest CAGR Due to Increasing TBI Treatment
During the forecast period, the TBI segment of the intravascular cooling market is anticipated to expand at the greatest CAGR. During TBI treatments, intravascular cooling methods are being employed as a preventive approach to lower intracranial pressure (ICP). As a result, intrusive cooling techniques are increasingly being used in intensive care units. Additionally, the rising number of ICUs and growing demand for ICUs to treat chronic diseases across the world is predicted to drive segment growth during the upcoming years. SkyQuest found during the study that currently there are around 1,00,000 ICUs in India and it will need around 55,000 more ICU beds to combat the rising chronic diseases and pandemic cases in the region.
The intravascular cooling market in the Asia Pacific region is estimated to witness noteworthy market growth during the forecast period on account of the increase in surgical procedures in the region. The Asia Pacific region is poised to experience an increase in demand for non-invasive aesthetic procedures due to increasing per capita disposable income and Asian nations' propensity for medical tourism. SkyQuest observed that in Thailand, medical tourism for aesthetic procedures is growing, with more than 33.2% of cosmetic surgery patients traveling from other countries.
The intravascular cooling market is continually changing, and many competitors are striving for market share. The most recent market research study from SkyQuest offers a thorough assessment of this dynamic landscape while delving into the main growth factors and the competitive landscape. The report uses cutting-edge research techniques to provide insightful information on this dynamic market.
Key Developments in the Intravascular Cooling Market
Smith's Medical insulin syringes were recalled by the FDA on June 21st, 2021, for their ability to effectively treat the symptoms of an impending cardiac arrest. Because of this, Smiths Medical has recalled about 13 lots of their JELCO HYPODERMIC NEEDLE-PRO FIXED NEEDLE INSULIN SYRINGES. These recalled items were used to treat cardiac patients properly and promptly, preventing them from suffering severe cardiac arrests.
The advanced and superior defibrillators made by ZOLL Medical were awarded a Five-Star rating for Safety & Health Asia Award 2020 on January 5th, 2021. These extremely sophisticated defibrillators were thought to be the most effective technology ever developed for treating cardiac arrests since they increased patient survival rates from cardiac arrest by half across the board.
Stryker announced the release of Altrix in January 2021, which can be used to control the patient's temperature in all healthcare situations.
Key Questions Answered in the Intravascular Cooling Market Research Report
What are the key factors and industry patterns that are expected to influence intravascular cooling market dynamics and growth?
How is the market expected to evolve, and what new trends will likely emerge over the forecast period?
Who are the market's key stakeholders, and what role do they play in shaping its future?
Which areas within the intravascular cooling market are expected to experience the most growth in the near future?
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