What is the global market size of Intravascular Cooling Market?

Intravascular Cooling Market size was valued at USD 278.8 million in 2021 and is poised to grow from USD 292.9 million in 2022 to USD 350.76 million by 2030, growing at a CAGR of 2.5% in the forecast period (2023-2030).

Global Intravascular Cooling Market Size, Share, Growth Analysis, By Type(Warming, Cooling), By Application(Pre-operative, Post-operative) - Industry Forecast 2024-2031

Report ID: SQMIG35I2292 | Region: Global | Published Date: February, 2024
Pages: 224 | Tables: 62 | Figures: 75

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Intravascular Cooling Market size was valued at USD 278.8 million in 2019 and is poised to grow from USD 292.9 million in 2023 to USD 350.76 million by 2031, growing at a CAGR of 2.5% in the forecast period (2024-2031).

The top market participants have a wide geographic reach and a wide range of products to meet a variety of consumer wants. This element helps the business keep a solid grip on the market. Cargill, Inc., Fuji Oil Holding Inc., Archer Daniels Midland Company, AGYDSA, Olam International Limited, and Wilmar International Limited are just a few of the significant competitors. '3M', 'ZOLL Medical', 'Belmont Instrument', 'Alsius Corporation', 'Philips Healthcare', 'Medtronic', 'Bard Medical Division', 'St. Jude Medical', 'Stryker Corporation', 'Smiths Medical', 'C. R. Bard, Inc.', 'Halyard Health, Inc.', 'Zebra Medical Technologies, Inc.', 'Estill Medical Technologies, Inc.', 'ERBE USA, Inc.', 'ThermopeutiX, Inc.', 'Metrum Cryoflex, LLC', 'Attune Medical, Inc.', 'Deltex Medical Group plc', 'Vascular Solutions, Inc.'

Increased rates of sudden cardiac arrest and increased use of intravascular cooling catheters for hypothermia treatment are driving the growth of the global market. During the forecast period, the development of government standards for the treatment of hypothermia-induced cardiac arrest is also expected to drive the global market. The Ohio State University recommends using intravascular cooling catheters for therapeutic hypothermia to improve neurological recovery after cardiac arrest. As a result of such encouraging government suggestions, the market is likely to grow over the forecast period.

The increasing prevalence of chronic illnesses and cardiac arrests is a major reason supporting the demand for patient populations to have focused temperature management. The need is being sparked by the expanding popularity of temperature management for patient warming and cooling systems in the global healthcare industry. In recent years, there has been an increase in the occurrence of nervous system illnesses that require controlling intravascular temperature. The growing use in numerous surgeries also helps to increase demand. The increasing efficacy of temperature control systems in treating chronic heart diseases is another factor driving the market. Additionally, controlling temperature has shown to be effective in lowering the death rate from major heart attacks.

Asia Pacific, North America, Europe, Latin America, the Middle East, and Africa are some of the major geographic markets for intravascular temperature control. North America is anticipated to be a potentially lucrative market among these through at least 2026. Significant device technology advances, the availability of a strong healthcare system, and the fast-expanding prevalence of neurological illnesses have all contributed to the increase. During the evaluation period, Asia Pacific is anticipated to have promising growth potential. The significant increase in surgical procedures and the incidence of chronic diseases, particularly in senior populations, can be linked to the region's high demand for intravascular temperature management devices. With the support of significant advancements in healthcare infrastructures and rising patient awareness in emerging nations, the regional market will also make promising progress in the years to come.

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Global Intravascular Cooling Market Size, Share, Growth Analysis, By Type(Warming, Cooling), By Application(Pre-operative, Post-operative) - Industry Forecast 2024-2031

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