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Scalp Cooling System Market Global Historical Analysis, Industry Key Strategies, Trends and Growth Opportunities Forecasts to 2031| Penguin Cold Caps, and Paxman

05-27-2024 10:07 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Scalp Cooling System Market

Scalp Cooling System Market

Market Overview:

Scalp cooling systems are medical devices used to prevent or reduce hair loss in cancer patients undergoing chemotherapy. They work by cooling the scalp and lowering its temperature in order to constrict the blood vessels and reduce the amount of chemotherapy reaching hair follicles. This allows hair to remain intact during treatment.

Market Dynamics:

The scalp cooling system market is expected to witness significant growth over the forecast period owing to the rising incidence of cancer and increasing adoption of scalp cooling systems. According to the World Health Organization (WHO), cancer is the second leading cause of death globally and accounted for nearly 10 million deaths in 2020. Furthermore, rising awareness about scalp cooling systems and their benefits in preventing chemotherapy-induced hair loss is another major factor driving their adoption. In addition, ongoing technological advancements in scalp cooling system products offering improved efficacy and comfort are contributing to the market growth. However, the high costs associated with scalp cooling procedures may hamper the market to some extent over the forecast period.

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Moreover, it will also include the opportunities available in micro markets for stakeholders to invest, a detailed analysis of the competitive landscape, and product services of key players. Analysis of Scalp Cooling System companies, key tactics followed by Leading Key Players:

◘ Dignitana Inc.
◘ Penguin Cold Caps
◘ Paxman.

Segment Details Analysis

On the basis of therapeutic application,

Chemotherapy Induced Hair Loss
Neonatal encephalopathy
Cardiac Arrest

On the basis of end user,

Hospitals
Clinics
Others

Rising Prevalence of Cancer Globally

The increasing prevalence of cancer all over the world acts as a major driver for the scalp cooling system market. According to the World Health Organization, cancer is one of the leading causes of death globally and is responsible for one in six deaths worldwide. As per the National Cancer Institute, an estimated 18.1 million new cancer cases and 9.6 million cancer deaths occurred in 2018.With the rising incidence of different types of cancer like breast cancer, prostate cancer, lung cancer, and others, the demand for scalp cooling systems is also increasing significantly. Scalp cooling helps prevent hair loss caused by chemotherapy, which is a major concern for cancer patients undergoing treatment. This drives more patients to utilize scalp cooling systems to maintain their confidence and well-being during chemotherapy.

Improving Reimbursement Scenario for Scalp Cooling Systems

Reimbursement policies of governments and insurance companies have a major influence on the uptake of new medical technologies like scalp cooling systems. Favorable reimbursement helps reduce the financial burden and improves affordability of scalp cooling systems for cancer patients. In many countries, there have been positive changes in reimbursement policies for scalp cooling in recent years. For instance, Medicare in the U.S. started covering scalp cooling systems for breast cancer patients in 2018. Additionally, several private insurers in the U.S. and Europe are also providing coverage for scalp cooling. Such improving reimbursement scenarios are eliminating a key adoption barrier and driving higher demand in the scalp cooling system market.

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High Cost of Scalp Cooling Systems

Even though reimbursements have improved, the high cost of scalp cooling systems remains a key restraint to their widespread adoption. Scalp cooling systems use precise temperature control technology which makes the devices and single-use treatment caps expensive. On average, a full scalp cooling treatment costs between $500 to $3,000 depending on the type of system used and number of sessions required. This high overall cost is unaffordable for many cancer patients, especially in developing nations with low per capita incomes. The high upfront investment required for scalp cooling poses difficulties for patients and limits the penetration of these systems in developing regions. To expand access, scalp cooling device manufacturers need to focus on cost reduction through design innovations and scalable manufacturing methods.

Personalized Scalp Cooling Protocols

The need for individualized scalp cooling protocols presents a major opportunity area in this market. Currently, the cooling protocols used are not tailored to individual patients and their chemotherapy type/dose. However, research shows that factors like age, sex, medications, type of chemotherapy agent influence how effective scalp cooling will be. This underlines the need for more personalized settings and treatment plans. Developing next-gen scalp cooling systems with advanced sensors and AI capabilities can help personalize cooling based on real-time patient data. This will enhance the efficacy of scalp cooling and satisfaction levels. It can also help expand the eligible patient population. Companies leveraging technologies to develop highly customized scalp cooling therapies will be well-positioned to tap new growth prospects.

Increasing Focus on Evidence-Based Study Findings

A key trend gaining prominence is the increasing focus on generating robust evidence about the efficacy and safety of scalp cooling through well-designed randomized controlled trials and real-world studies. Historically, most data on scalp cooling came from small case studies and retrospective analyses with variable cooling protocols used. However, payers and regulators are now demanding stronger evidence generated from large prospective trials comparing scalp cooling to standard care. As a result, healthcare providers and device manufacturers are collaborating to conduct well-powered clinical research studies. The availability of such high-quality data will help address existing knowledge gaps and support confident clinical decision making. It will also help expand insurance coverage and guide innovations. The trend of knowledge generation through rigorous research designs is set to shape the future evolution and adoption of scalp cooling systems.

The Study Objectives are:

A comprehensive insight into key players operating in the Scalp Cooling System Market and their corresponding data.
It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
Regional analysis, which includes insight into the dominant market and corresponding market share.
It also includes various socio-economic factors affecting the evolution of the market in the region.
The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.
Table of Contents:

Market scenario 2024

Chapter 1: Introduction, Market Driving Force Product Objective of Study and Research Scope the Scalp Cooling System market
Chapter 2: Exclusive Summary - the basic information of the Scalp Cooling System Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends, and Challenges & Opportunities of the Scalp Cooling System
Chapter 4: Presenting the Scalp Cooling System Market Factor Analysis, Supply/Value Chain, PESTEL analysis, Market Entry, and Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User, and Region/Country 2024 - 2031
Chapter 6: Evaluating the leading manufacturers of the Scalp Cooling System market which consists of its Competitive Landscape, Peer Group Analysis, Market positioning & Company Profile
Chapter 7: To evaluate the market by segments, by countries, and by Manufacturers/Companies with revenue share and sales by key countries in these various regions (2024-2031)
Chapters 8 & 9: Displaying the Appendix, Methodology, and Data Source

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Key Questions Answered:

What is the market size and CAGR of the Scalp Cooling System Market during the forecast period?
How is the growing demand impacting the growth of Scalp Cooling System Market shares?
What is the growing demand of the Market during the forecast period?
Who are the leading vendors in the market and what are their market shares?
What is the impact of the COVID-19 pandemic on the APAC Scalp Cooling System Market?

Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame,
CA 94010, United States
Phone: US +12067016702 / UK +4402081334027
JAPAN:+81-50-5539-1737
INDIA:+91-848-285-0837
Email: sales@coherentmarketinsights.com

About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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