The patient’s core body temperature can be managed safely and effectively by intravascular temperature management. When therapeutic hypothermia is used, a closed-circuit catheter circulates hot or cold saline into the blood. It has several benefits, including shorter hospital stays and nursing times, instant triple-lumen access, and the possibility of saving crucial time in intensive care units. It avoids neurological damage following cardiac arrest since it has fewer side effects than conventional techniques, like neurologic harm.
The market for intravascular temperature management systems was worth USD 279.23 million, and it will be worth USD 402.42 million, expanding at a 4.14% CAGR during the forecast period.
The market is driven by factors like expanding minimally invasive procedures, rising rate of cardiovascular disorders, and technical advancements in intravascular temperature management systems.
Market Dynamics
Drivers
- A major element boosting market expansion is the ongoing increase in the prevalence of cardiovascular illnesses. According to the WHO, cardiovascular diseases (CVDs) account for a 17.9 million annual mortality rate, making them one of the world’s top causes of death. Heart attacks and strokes account for more than 4 out of 5 CVD fatalities, and 1/3 of these deaths happen before the age of 70.
- Furthermore, the growth of the intravascular temperature management market is driven by the expansion in the total number of surgical procedures and rising awareness of intravascular temperature control. According to the National Library of Medicine and the National Institute of Health, a startling 310 million major procedures are carried out annually worldwide, with close to 40 to 50 million in the USA and close to 20 million in Europe.
Restraints
The increasing costs of these devices severely restrict the expansion of the market. The intravascular approaches also have the drawback of being labor-intensive, which frequently results in temperatures that are lower than the goal temperature and are ineffective at maintaining the target temperature at the appropriate level.
Opportunity
Worldwide, governments are currently focusing on the quick technological advancements of these devices by investing a sizeable sum of money, which will provide enormous opportunities for the market’s prosperity in the future. This is due to the continuous rise in demand for intravascular devices worldwide.
Market Segmentation
Type Insights
On the basis of type, the intravascular temperature management market is segment into intravascular warming catheters and intravascular cooling catheters.
In 2020, the intravascular warming catheter segment was the market leader, with the largest revenue share of 63.22%. Critically sick patients’ temperatures are maintain at normal levels by intravascular warming. Induce hypothermia is a type of intravascular warming that has become extremely popular globally because it is a practical method for protecting the nervous system during major vascular procedures or when crucial neurological surgeries are required. This boosts the market’s overall expansion.
Product Insights
On the basis of product, the intravascular temperature management market is segment into systems and consumables.
In 2020, the Consumables segment held the largest market share of nearly 76.15%. The global market growth is drive by a constant rise in awareness of the increasing consumption of consumables and rapidly growing demand.
Indication Insights
On the basis of indication, the intravascular temperature management market is segment into stroke, cardiac arrest, fever, acute myocardial infarction, TBI, and others.
The cardiac arrest segment was the biggest market in 2020, with a revenue share of nearly 67.235. The most frequent cause of cardiac arrest patient mortality (OHCA) has been identify as severe traumatic brain injury following CPR (cardiopulmonary resuscitation). As a result, there is a significant growth in the need for intravascular temperature devices, which is driving this market’s overall growth.
Application Insights
In terms of application, the intravascular temperature management market is segment into operative care, acute/critical care, preoperative care, and post-operative care.
In 2020, the acute/critical care segment ruled the market with 42.17% of the revenue share. Acute/Critical care effectively takes care of patients with serious or life-threatening illnesses or injuries that require regular monitoring, life support equipment, and medication to maintain normal body functions. All of these factors are facilitating the general growth of this segment.
End-Use Insights
On the basis of end-user, the market is segment into emergency care units, surgical centers, ambulatory surgical centers, and others.
In 2020, the surgical center’s segment significantly ruled the entire market. Most patients prefer to visit surgical centers for urgent temperature control to identify early cardiac arrest signs, which in turn is fueling this market segment’s rapid expansion.
Regional overview
North America held a maximum position in the market, followed by Europe. The growing rate of cardiac arrests and neurological illnesses, the rise in surgical centers, and the greater adoption rate of technologically advanced technologies in North American nations contribute to the region’s major market expansion.
Key Players
- Biegler
- Smiths Group Plc
- 3M Company
- The 37Company
- VYAIRE MEDICAL INC
- ZOLL Medical
- BD Company
- Belmont Instrument
- Stryker Corporation
- Stihler Electronic GmbH
- Geratherm Medical AG
- The Surgical Company BV
The market for intravascular temperature management systems was worth USD 279.23 million. And it will be worth USD 402.42 million, expanding at a 4.14% CAGR during the forecast period. Numerous awareness programs and conferences organized by both public and commercial organizations. As well as the growing use of heating and cooling systems in developing nations, boost the intravascular temperature management market.
Related Reports:
Coronary Stents Market Report – The global coronary stents market will witness a robust CAGR of 4.78%, valued at $8.56 billion in 2021, expected to appreciate and reach $13.03 billion by 2030, confirms Strategic Market Research.