Global Hypothermia Management Market: Market Outlook
Hypothermia management is treatment which maintain a particular body temperature in a patient for a certain duration of time to improve health of patient to recover stopped blood flow to the brain. Hypothermia management helps to decrease the risk of tissue injury due to lack of blood flow. Disruption in blood flow caused due to blockage of an artery and cardiac arrest.
Hypothermia management systems help in maintaining and regulating patients' body temperature in recovery rooms, operation theatres, other hospital areas and intensive care units. Hypothermia management utilize thermodynamics and heat transfer to manage the temperature of patients in every hospital settings.
Hypothermia management reduces risk of brain injury by decreasing the production of neurotransmitters like glutamate, reducing the brain's oxygen demand and reducing free radicals that might damage the brain. To lowers the body temperature with the use of cooling helmets, cooling blankets, ice packs, cooling catheters and ice water lavage. Hypothermia management improves survival and brain function following resuscitation from cardiac arrest
Moreover, the global hypothermia management systems market is driven by affordable treatments and low-cost surgeries which are available in developed countries. Furthermore, increasing prevalence of chronic diseases as well as successive rise in the number of healthcare facilities will also boost the hypothermia management market growth. In addition to this favorable reimbursement scenarios may increase the adoption rate of hypothermia management systems. However, the high cost of hypothermia management systems are hampering the hypothermia management market growth. Despite of these challenges, hypothermia management market will grow continuously due to the increasing prevalence of cardiovascular disorders and rising geriatric population.
What are the Key Trends Impacting Growth of the Global Hypothermia Management Market?
Every year large number of surgical procedures has been performed globally. According to Texas Heart Institute, approximately five lakhs coronary bypass procedures are performed every year. Administration of anesthesia requires continuous monitoring of patient’s body temperature during surgeries. In these consequence, hypothermia management systems are important to avoid any further intraoperative hypothermia. Utilization of hypothermia management systems to minimizing surgical complexity and associated discomfort to the patient. However, increase adaption of hypothermia management systems reduced the risk of inadvertent perioperative hypothermia during anesthesia and show significant impact on patients’ health outcome.
How is the Increasing prevalence of chronic disease driving the Demand for Hypothermia Management?
Rising incidence of chronic disease, such as cardiac arrests, strokes, traumatic brain injury and other neurological diseases. Moreover, patient with cardiac arrests can suffer from brain damage and other neurological impairments. Hypothermia management systems devices are extensively used to prevent brain damage after cardiac arrests.
The use management systems to improve neurological outcomes after cardiac arrests. Thus, the increasing incidence of chronic diseases is expected to drive the demand for hypothermia management systems. Moreover, rising geriatric population increase the prevalence of chronic diseases. This will fuel the adoption of hypothermia management system and boost market growth.
How is Upsurge in Adoption of hypothermia management system boost the Demand for Hypothermia Management?
Adoption of hypothermia management system increase amongst burn centers, Hospitals, surgical suites, emergency departments. Moreover, medical tourism sector is growing in developed as well as emerging economies is major factor accelerating the growth of hypothermia management market.
Moreover, demand for hypothermia management systems increase amongst physician Surgeons, paramedical staff and anesthesiologists will fuel the market growth. Advancements in hypothermia management technology and advanced end user facilities can boost the demand for hypothermia management systems over the forecast period. Furthermore, growing advance in healthcare facilities and rising healthcare spending in developed region will spur the market growth.
In addition, increasing number of healthcare centers, hospitals, ambulatory care units, emergency care centers and critical care centers will show significant adaption of hypothermia management systems and accessories over the next few years. Launch of multifunctional and innovative hypothermia management products is expected to fuel the product sales worldwide.
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What are the Key Challenges that may Restrain Growth of the Global Hypothermia Management Market?
High cost associated with hypothermia management systems hamper the market growth. Even though Hypothermia management systems provide effective, safe, rapid management patient’s body temperature the price of accessories and systems is significantly higher. This can restrain the market growth of hypothermia management systems market. Moreover, higher cost of Hypothermia management systems lowers the adaption of system in developing region such as India, Brazil.
Key players operating in the global hypothermia management market include
- Attikouris Enterprises Ltd.
- MTRE Advanced Technologies Ltd.
- Dickinson and Company
- ZOLL Medical Corporation
- Belmont Medical Technologies
- C.R. Bard, Inc
- Abb Ltd
- Fluke Corporation
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What strategies are the Key Players adopting for Increasing their Market Share in the Global Hypothermia Management Market?
Key players in the global hypothermia management market are focusing on innovative product launch to deliver hypothermia management with quality. Moreover, key players in the hypothermia management market are aiming to expand their presence in the developing region through collaboration.
- In 2018, Advanced Cooling Therapy (ACT) had received CE mark approval for the use of their Esophageal Cooling Device (ECD) with the Altrix Precision Temperature Management System by Stryker®, which is considered to be a breakthrough advancement in the Patient Temperature management system market.
- In January 2017, Stryker launched AltrixTM, a next-generation precision temperature management system that can be used in all clinical settings.
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 June 20, 2018, Belmont Instrument, LLC Announced the Acquisition of MTRE Advanced Technologies Ltd. to extends its portfolio to include non-invasive body temperature management solution
Thus, the increasing strategic development activities carried out by the manufacturers in the global hypothermia management market will have a positive impact leading to a significant growth in the market during the forecast period.
What are the Key Opportunities for Hypothermia Management Manufacturers?
In past few years, leading players in Hypothermia management market offering hypothermia management systems has increased worldwide. Key manufacturers are focusing on established their product portfolio, geographic presence and distribution networks, by strategic collaboration and contracts with emerging players and established distributors in the market.
Moreover, advanced healthcare facilities is increasing in developed regions and the demand for hypothermia management systems is expected increase over the forecasting period. Chronic disorders are a relatively serious issue in developing countries, which is offering lucrative opportunity for leading manufacturers to expand their business in these countries and increase their market share.
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Why is the U.S. a Big Market for Global Hypothermia Management?
In U.S. death rate by Hypothermia is relatively higher than the other countries hence demand for Hypothermia management systems is increased amongst end user in the US. There has been significant increase in adaption of in Hypothermia management systems US.
- According to CDC, in 2019, among people aged ≥15 years, death rates attributed to hypothermia were higher in rural areas than in urban areas across every age group. Crude rates were lowest among those aged 15–34 years at 0.2 and 0.5 per 100,000 population in urban and rural areas, respectively
Moreover, the presence of advance and well established healthcare facilities in U.S will fuel the market growth. In addition to this favorable reimbursement facility increase the adaption of Hypothermia treatment in U.S
What makes Germany Dominant County in the Global Hypothermia Management Market?
Germany 2nd Most lucrative country the global hypothermia management market and will continue to do so during the forecast period as well. The availability of an advanced healthcare infrastructure and facilities is the major factor that is contributing to Germany overall growth in the global hypothermia management market. Moreover, presence of prominent market players in Germany generate significant revenue in global hypothermia management market. This factors represent considerable growth in the global hypothermia management market in this county.
What is the impact of the Pandemic on the Growth of the Global Hypothermia Management Market?
Global pandemic COVID-19 will have negative impact on Hypothermia management Market. Due to decision to cancelled medical procedures and elective surgeries has hinder the demand for hypothermia management systems across hospitals. Decision to postpone all elective surgeries there has been a significant drop in the demand for hypothermia management systems market.
However, the hypothermia management market is expected to regain after 2ND Quarter of 2021 as the situation COVID-19 improve, as all the impending medical procedures are conducted with regular medical procedure. The hypothermia management market is anticipate to gain significant pace after 2022.
The report on the Global Hypothermia Management Market covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Historical Actual Market Size, 2016 - 2020
- Market Size & Forecast 2021 to 2031
- Supply & Demand Value Chain
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
- Market Drivers and Restraints
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Regional analysis for Global Hypothermia Management Market Includes
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Report on Global Hypothermia Management Market Highlights:
- Shifting industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size
- Recent industry trends
- Key competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
Key Segments of global Hypothermia Management Market Covered in the Report
Based on product, the hypothermia management market has been segmented as
- Conventional Warming System
- Intravascular Warming System
- Surface Warming System
Based on hypothermia, the hypothermia management market has been segmented as
- Acute hypothermia
- Chronic hypothermia
- Exhaustion hypothermia
- Perioperative hypothermia
Based on Age group, the hypothermia management market has been segmented as
Based on end user, the hypothermia management market has been segmented as
- Specialty Clinics
- Ambulatory Surgical Centers
Based on the region, the hypothermia management market has been segmented as
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.