Press release
Therapeutic Hypothermia Systems Market Worth $396 Million | ZOLL Medical Corporation (Japan), Becton, Dickinson and Company (US), and Stryker Corporation (US)
Therapeutic Hypothermia Systems Market in terms of revenue was estimated to be worth $291 million in 2023 and is poised to reach $396 million by 2028, growing at a CAGR of 6.3% from 2023 to 2028 according to a new report by MarketsandMarkets™. 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.Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=56601925&utm_source=Openpr
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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Therapeutic Hypothermia Systems Market Dynamics:
Drivers:
1. Increasing number of surgical procedures
Restraint:
1. Lack of awareness regarding therapeutic hypothermia systems in developing countries
Opportunities:
1. Increasing growth opportunities in developing countries
Challenge:
1. Lack of skilled healthcare professionals
Key Market Players of Therapeutic Hypothermia Systems Industry:
Major players in the therapeutic hypothermia systems market include ZOLL Medical Corporation (Japan), Becton, Dickinson and Company (US), and Stryker Corporation (US).
Breakdown of supply-side primary interviews by company type, designation, and region:
By Company Type: Tier 1 (30%), Tier 2 (48%), and Tier 3 (22%)
By Designation: C-level (28%), Director-level (33%), and Others (39%)
By Region: North America (21%), Europe (30%), Asia-Pacific (34%), and RoW (15%)
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Mr. Aashish Mehra
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MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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