Intravascular temperature management is a procedure which helps to maintain and achieve proper temperature in a patient’s body for a defined interval of time. It is used in surgical operations, hypothermia, hyperthermia and others. It helps in the prevention of infections at the time of surgery and facilitates health improvement. This is achieved by infusing cold or hot saline in a patient’s body with the help of a closed network catheter.
The global intravascular temperature management market was USD 264.76 million in 2018 and is estimated to reach USD 337.78 million by 2025 at a CAGR of 3.54% during the forecast period
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Growth by Region
North America dominated the global market owing to factors such as high purchasing power, increase in surgical procedures, rise in awareness on prevention of surgical site infections in the region, state of the art healthcare infrastructure and the presence of established market players. Europe comes second to North America in terms of market share and the region of Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to factors such as the rise in awareness and healthcare infrastructure advancement in the developing regions of China and India, supporting regulatory norms and increase in affordability.
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Drivers vs Constraints
The factors that drive the growth of the market include increase in incidence of cardiovascular diseases, growing number of surgical procedures worldwide, and rise in case of surgical site infections, increasing number of awareness initiatives by government and private institutions, increasing adoption of patient warming and cooling systems in developing countries, and geographic expansions undertaken by key players. The market potential in untapped emerging economies offer lucrative growth opportunities during the forecast period. High initial cost of intravascular temperature management devices is the major factor that could hinder the market growth
Industry Trends and Updates:
In November 2017, ZOLL Medical corporation and Myant Inc. entered into an Strategic Research and Development Collaboration
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