Therapeutic Hypothermia Systems Market: Growth, Size, Share, and Trends

Market Growth Outlook Summary

The global therapeutic hypothermia systems market, valued at US$275 million in 2022, is forecasted to grow at a robust CAGR of 6.3%, reaching US$291 million in 2023 and an impressive US$396 million by 2028. Growth in this market is attributed to the increasing population, the rising prevalence of chronic and infectious diseases, the growing number of surgical procedures, and the expanding adoption of minimally invasive cooling methods. However, the availability of alternative methods and a lack of awareness regarding therapeutic hypothermia systems in developing countries are restraining market growth during the forecast period.

Therapeutic Hypothermia Systems Market – Global Forecast and Growth Insights to 2028

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Therapeutic Hypothermia Systems Market – Global Forecast and Key Opportunities to 2028

Therapeutic Hypothermia Systems Market Dynamics to 2028

DRIVER: Increasing number of surgical procedures

Effective therapeutic hypothermia management of patients is required to be made to maintain normothermia during surgical procedures with special consideration. Furthermore, managing intraoperative hypothermia is vital for eliminating surgical bleeding, surgical-site infections, and wound infections, which can lead to severe health complications, extended hospitalization periods, and an increase in patient mortality. Hypothermia is a common occurrence during surgeries as anesthetics can disrupt the normal body temperature of a patient, according to the American Society of Anaesthesiologists (ASA). The number of surgical procedures performed has increased over the years. According to the National Library of Medicine, globally, a staggering 310 million major surgeries are performed each year (around 40 to 50 million in the US and 20 million in Europe). The growing number of surgical procedures performed will drive the demand for therapeutic hypothermia systems.

RESTRAINT: Lack of awareness regarding therapeutic hypothermia systems in developing countries

Managing the core temperature of patients requires professionals with relevant experience and knowledge of the methodology to properly use the cooling systems. The need for proper training for effective usage of systems has been created by the players by launching the advanced systems in the market. These advancements avoid additional risks of high fever and hypothermia in pre-and post-operative setups and help in providing results of near-core and core temperature ranges. However, the major factors limiting their adoption are the lack of awareness among healthcare practitioners and doctors about advancements that are incorporated by manufacturers, coupled with a dearth of skilled personnel who can effectively operate and process these devices.

OPPORTUNITY: Increasing growth opportunities in developing countries

Countries like India, China, South Korea, Brazil, Taiwan, Turkey, Russia, and South Africa offer potential growth opportunities for major players operating in the market as these are emerging economies. This can be attributed to the rise in the geriatric population, the growing prevalence of chronic and infectious diseases, improvement in healthcare infrastructure, and growing disposable income in these countries.

CHALLENGE: Lack of skilled healthcare professionals

In developing countries, there is a shortage of physicians and healthcare professionals, and the proper usage of these devices requires expertise, relevant experience, and knowledge of the technology and its applications.

Currently, there is a shortage of skilled medical personnel in both developed and developing countries. According to WHO estimates, globally, there will be a shortage of 18 million healthcare workers by 2030. The Association of American Medical Colleges (AAMC) estimates that the US will face a shortage of approximately 54,100–139,000 physicians by 2033. This shortage of skilled professionals and physicians in healthcare will have an impact on the market.

Therapeutic Hypothermia Systems Market Map & Ecosystem Overview

Prominent companies in this market include well-established, financially stable manufacturers of therapeutic hypothermia systems. These companies have been operating in the market for several years and possess diversified product portfolios, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include ZOLL Medical Corporation (Japan), Becton, Dickinson and Company (US), and Stryker Corporation (US).

In 2022, cooling devices segment to observe the highest growth rate of the therapeutic hypothermia systems industry, by product.

Based on the product, the therapeutic hypothermia systems market is classified as Cooling Catheters, Cooling devices, and Cool Caps. The cooling devices segment dominated the market in 2022. The large share of the segment can be attributed to the growing number of players in the therapeutic hypothermia systems and the rise in a number of cardiac arrest surgeries.

In 2022, neurology segment to dominate the therapeutic hypothermia systems industry, by application.

Based on the applications, the therapeutic hypothermia systems market is segmented into Neurology, Cardiology, Neonatal care, and other applications. The neurology segment dominated the global market in 2022. The large share of this segment can be primarily attributed to the growing prevalence of trauma brain injuries and the advantages of using therapeutic hypothermia in improving neurological outcomes.

In 2022, North America to dominate in therapeutic hypothermia systems industry.

The global therapeutic hypothermia systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to dominate during the forecast period, primarily due to the growing R&D expenditure by companies and the presence of major players in the US. Growth in the geriatric population, the rising incidence of cardiac arrests and neurological disorders, and the availability of technologically advanced products are the other factors supporting the growth of the market in North America.

Therapeutic Hypothermia Systems Market by Region – Forecast to 2028

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The therapeutic hypothermia systems market is dominated by players such as ZOLL Medical Corporation (US), Becton, Dickinson and Company (US), and Stryker Corporation (US).

Therapeutic Hypothermia Systems Market Report Scope and Insights

Therapeutic Hypothermia Systems Market Segmentation and Analysis

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World

By Product

• Cooling Devices
• Cooling Catheters
• Cool Caps

By Application

• Neurology
• Cardiology
• Neonatal Care
• Other Application

Therapeutic Hypothermia Systems Market Recent Developments and Insights

• In 2023, Asahi Kasei Corporation (Japan) signed an agreement with BrainCool, a medical device company specializing in therapeutic hypothermia systems solutions, for the exclusive distribution of the BrainCool System/IQool System and the IQool System Pads in the US and key markets in Europe.
• In 2022, Gentherm acquired Jiangmen Dacheng Medical Equipment Co., Ltd., a manufacturer of medical materials and medical equipment, including patient therapeutic hypothermia solutions.
• In 2021, ZOLL Medical (US) signed a distribution agreement with Wallaby Medical Technologies, wherein Wallaby will manage the sales and distribution of ZOLL’s therapeutic hypothermia products in China.

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