What is the global market size of Intravascular Cooling Market?

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).

Who are the key vendors in the Global Intravascular Cooling Market?

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.'

Intravascular Cooling Market Size

Intravascular Cooling Market Insights

Global Intravascular Cooling Market size was valued at USD 292.9 billion in 2023 and is poised to grow from USD 300.22 billion in 2024 to USD 365.79 billion by 2032, growing at a CAGR of 2.5% during the forecast period (2025-2032).

As a catheter is introduced into the venous system and the device it is coupled to control the blood's temperature, intravascular temperature management is the technique of chilling or warming the temperature as per the patient's needs from the inside out. The administration of this technique is swift and effective since it quickly raises the required body temperature compared to other methods of managing surface temperature.

One of the key factors accelerating the growth and demand of the intravascular temperature management market is the increased adoption rate of technologically improved devices. Throughout the forecast period (2024-2031), an increase in the number of surgical centers being established in some regions is also a factor in the growth of the global market. The market is expanding as a result of the increasing efficacy of intravascular temperature management devices in treating chronic heart diseases. Additionally, the increasing public awareness of the role of intravascular temperature management in reducing the morbidity and mortality of hospitalized patients, as well as the growing acceptance of intravascular temperature management for patient warming and cooling systems in the healthcare sector globally, are all driving the market growth during the aforementioned forecast period. The market for intravascular temperature control will continue to grow quickly thanks to recent advances in technology and R&D. From 2021 to 2028, the industry is expected to see considerable prospects for expansion.

The market for intravascular temperature management will, however, experience a decline due to the high cost of certain of these devices, and the market could face difficulties due to the rigid regulatory clearance procedures.

US Intravascular Cooling Market is poised to grow at a sustainable CAGR for the next forecast year.

FAQs

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 (US) ', 'ZOLL Medical (US) ', 'Belmont Instrument (US) ', 'Alsius Corporation (US) ', 'Philips Healthcare (Netherlands) ', 'Medtronic (Ireland) ', 'Bard Medical Division (US) ', 'St. Jude Medical (US) ', 'Stryker Corporation (US) ', 'Smiths Medical (UK) ', 'C. R. Bard, Inc. (US) ', 'Halyard Health, Inc. (US) ', 'Zebra Medical Technologies, Inc. (US) ', 'Estill Medical Technologies, Inc. (US) ', 'ERBE USA, Inc. (US) ', 'ThermopeutiX, Inc. (US) ', 'Metrum Cryoflex, LLC (US) ', 'Attune Medical, Inc. (US) ', 'Deltex Medical Group plc (UK) ', 'Vascular Solutions, Inc. (US)'

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.