Global Therapeutic Hypothermia Systems Market Research Report: Forecast (2024-2030)

Market Definition

Therapeutic Hypothermia Systems is a medical tool that aids in the management of patients who underwent cardiac arrest or those with ailments where cooling down one's body temperature can have positive effects. It serves as an inventive and reliable option for healthcare providers wanting to apply therapeutic hypothermia procedures.

Market Insights & Analysis: Global Therapeutic Hypothermia Systems Market (2024-30):

The Global Therapeutic Hypothermia Systems Market size was valued at around USD 276 million in 2023 & is estimated to grow at a CAGR of around 7.5% during the forecast period, i.e., 2024-30. The market growth has been attributed to growing awareness and acceptance of therapeutic hypothermia among healthcare professionals. The rise in road traffic accidents has accelerated the growth of the Therapeutic Hypothermia Systems Market. For instance, the United Nations mentioned in 2023 that, globally, every year, road traffic crashes cause around 20 to 50 million non-fatal injuries. Such road traffic accidents, largely responsible for traumatic brain injuries, have propelled the demand for therapeutic hypothermia systems to preserve brain function and avoid dangerous consequences. As a result, the Global Therapeutic Hypothermia Systems has witnessed tremendous growth & expansion.

Further, the world is witnessing a rise in the old-age population that is more susceptible to cardiac arrest, stroke, and other conditions that can benefit from therapeutic hypothermia. For instance, as per the World Health Organization (WHO), it has been estimated that by 2030, the population aged 60 years and over would increase from 1 billion in 2020 to 1.4 billion by 2030. Also, the world’s population of people aged 60 years and older will reach 2.1 billion by 2050.

Hence, as the geriatric population continues to grow, the demand for therapeutic hypothermia systems is expected to increase, propelling the growth & development of the Global Therapeutic Hypothermia Systems Industry. Moreover, as per WHO, people who are older than 60 years of age suffer the greatest number of fatal falls, which are expected to result in unintentional injuries, including traumatic brain injuries. Hence, this would require the application of therapeutic hypothermia systems during the forecast period.

Moreover, there has been a surge in drug abuse across the world, which has increased the adoption of therapeutic hypothermia systems. Drug abuse-related incidents, such as cardiac arrest and neurological emergencies, increase demand for therapeutic hypothermia systems due to their effectiveness in mitigating neurological damage and improving survival rates. Therefore, considering the aforementioned factors, the demand for Therapeutic Hypothermia Systems would increase in the coming years as well. For instance, as per the United Nations, globally, the estimated number of drug users grew from 240 million in 2011 to 296 million in 2021. Also, an estimated 60 million people were engaged in non-medical opioid use in 2021, and 2 million and 20 million used cocaine and ecstasy, respectively.

Global Therapeutic Hypothermia Systems Market Driver:

Surge in Cardiac Arrest Cases Driving Demand for Therapeutic Hypothermia Systems – There has been a rise in cases of cardiac arrest globally attributed to genetics, lifestyle choices, and certain medical conditions. Further, the presence of a large number of patients with cardiovascular diseases (CVDs) such as coronary artery disease, arrhythmia, etc., has positively impacted the therapeutic hypothermia systems market. According to the British Heart Foundation, globally, about 200 million patients, including 110 million men and 80 million women, are living with coronary heart disease. Further, in 2021, around 620 million people were living with heart and circulatory diseases across the world. This included 340 million in Asia & Australia, 100 million in Europe, 98 million in Africa & Middle East, and 48 million both in North and Latin America.

The risk of cardiac arrest increases tremendously when a person suffers from any cardiovascular problems. Hence, considering the large patient population pool with cardiovascular diseases across the world, the cases of cardiac arrest have also increased and have accelerated the demand for Therapeutic Hypothermia Systems that play a vital role in improving outcomes for patients following cardiac arrest. With that, the Therapeutic Hypothermia Systems Market is witnessing growth & development.  

Global Therapeutic Hypothermia Systems Market Opportunity:

Healthcare Infrastructure Development Offering Growth Opportunities – The therapeutic hypothermia systems market is increasingly reliant on emerging economies for growth. Many developing countries, including China, India, South Africa, and others, are experiencing a significant increase in cardiac arrest cases due to several factors, such as an aging population, the rising prevalence of cardiovascular diseases, obesity, and other lifestyle-related risk factors. The prevalence of diseases across these countries is driving governments to increase their focus on infrastructure development. Hence, the healthcare industry in these countries is undergoing a rapid transformation, driven by technological advancements, increasing patient expectations, and the need for efficient healthcare delivery systems. Following that, governments are investing in setting up new medical facilities that are equipped with high-tech medical equipment and would cater to large groups of the population. For instance,

• In 2022, Dr. Sulaiman Al Habib Medical Services Group, Saudi Arabia, announced a new hospital project in Riyadh City, which is expected to be completed during the first quarter of the year 2025.

Thus, the setting up of newer facilities would also create an opportunity to generate demand for Therapeutic Hypothermia Systems to provide appropriate care and treatment to patients who have experienced cardiac arrest due to any medical condition across emerging economies in the coming years.

Global Therapeutic Hypothermia Systems Market Challenge:

Lack of Skilled Healthcare Professionals Impedes Market Growth & Expansion – There has been a shortage of skilled healthcare professionals, including those proficient in utilizing medical equipment like therapeutic hypothermia systems, across the world. Also, according to the World Health Organization (WHO), the global shortage of healthcare professionals will rise to around 18 million by 2030. As a consequence, the effective implementation of advanced treatments such as therapeutic hypothermia is affected, hampering patient care and overall market growth. Further, the scarcity of skilled professionals in the field of therapeutic hypothermia doesn't discriminate between developed or developing economies either, given that associations like the Association on American Medical Colleges (AAMC) anticipate deficits ranging from roughly 54,100 - 139,000 therapeutic physicians across different regions within America by 2033. This state indicates significant implications concerning future developments in the market.

Global Therapeutic Hypothermia Systems Market Trend:

Increasing Adoption of Automated & Integrated Cooling Systems – The adoption of automated and integrated cooling systems has increased, with healthcare providers seeking to optimize therapeutic hypothermia protocols and standardize care practices. In comparison to traditional methods, these systems offer improved precision, ease of use, and efficiency in inducing and maintaining therapeutic hypothermia. The integrated systems allow for real-time adjustment of cooling parameters based on patient responses. Automation reduces the need for manual intervention, enhances reliability, and ensures consistent cooling therapy delivery, leading to improved patient outcomes and increased acceptance, thereby changing the dynamics of the Global Therapeutic Hypothermia Systems Market.  

Global Therapeutic Hypothermia Systems Market (2024-30): Segmentation Analysis

The Global Therapeutic Hypothermia Systems Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the global level. According to the analysis, the market has been further classified as:

Based on Product:

• Cooling Catheters
• Cooling Devices
• Cool Caps

Out of them all, Cooling Devices held the largest market share. The market growth has been attributed primarily to the increasing prevalence of conditions that can benefit from therapeutic hypothermia, such as cardiac arrest, stroke, and traumatic brain injury, which is fueling the demand for cooling devices. Further, recommendations by major organizations such as the American Heart Association and the European Resuscitation Council to utilize therapeutic hypothermia in specific medical scenarios have supported the adoption of cooling devices across various medical settings such as hospitals, ambulatory surgical centers, etc.

In addition, various technological advancements in cooling devices have led to the development of more efficient, precise, and user-friendly devices. These innovations improve patient comfort and allow for better control over temperature management, driving demand for these devices. Hence, considering the aforementioned factors, the segmental market is expected to witness growth & expansion during the forecasting years.

Based on Application:

• Neurology
• Cardiology
• Neonatal care
• Others

The neurology segment held the largest market share in the Global Therapeutic Hypothermia Systems Market. The market's growth is due to the presence of a large patient population pool with various neurological disorders, including traumatic brain injury, stroke, neonatal hypoxic-ischemic encephalopathy, spinal cord injury, etc., that benefit from therapeutic hypothermia systems. For instance, the World Health Organization (WHO) revealed in 2022 that the lifetime risk of developing a stroke has increased by 50% over the last 17 years, and now 1 in 4 people is estimated to have a stroke in their lifetime. To reduce neuronal damage, therapeutic hypothermia is employed for stroke treatment, thereby driving the demand for the same. The increased ICU admissions with neonatal hypoxic-ischemic encephalopathy, a type of brain damage observed in neonates, have accelerated the adoption of therapeutic hypothermia systems, positively impacting segmental market growth.

Moreover, there is growing concern regarding the potential long-term effects, such as disability and mortality, due to neurological disorders. This has led healthcare professionals to incorporate these systems into their treatment protocols due to the potential benefits of therapeutic hypothermia in reducing the impact of neurological diseases. With that, the neurology segment in the Global Therapeutic Hypothermia Systems Market continues to witness rapid growth & development.

Global Therapeutic Hypothermia Systems Market (2024-30): Regional Projections

Geographically, the Global Therapeutic Hypothermia Systems Market expands across:

• North America
• South America
• Europe
• The Middle East and Africa
• Asia-Pacific

North America accounts for the largest share of the Global Therapeutic Hypothermia Systems Market. The dominance has been attributed to the presence of key players, product introductions, government initiatives, etc. The old age population in North America is growing, and this is expected to positively impact the Therapeutic Hypothermia Systems Industry. For instance, as per the Population Reference Bureau, it is projected that the number of Americans ages 65 and older will increase from 58 million in 2022 to 82 million by 2050. The increase in the old-age population would contribute to an increased demand for therapeutic hypothermia systems due to the higher prevalence of cardiac events & neurological conditions and the desire for improved quality of life among older adults. Considering that the therapeutic hypothermia systems industry would witness growth in the region.

Further, there has been a huge burden of traumatic brain injury due to old age, falls, accidents, etc. in North America which has accelerated the growth of the Therapeutic Hypothermia Systems Market in the region. For instance, as stated by the Centers for Disease Control and Prevention (CDC) in 2023, about 190 Americans die from TBI-related injuries each day. The deaths could be avoided with hypothermia treatment via Therapeutic Hypothermia Systems that improve survival rates and enhance neurological outcomes for individuals with TBI. With that, the demand for Therapeutic Hypothermia Systems would increase, contributing to regional market growth.

Moreover, North America has a well-developed healthcare infrastructure with advanced medical facilities and skilled healthcare professionals. This facilitates widespread access to Therapeutic Hypothermia Systems and ensures quality care for patients. Thus, the factors mentioned above would collectively drive the North American Therapeutic Hypothermia Systems Market in the coming years as well.

Global Therapeutic Hypothermia Systems Industry Recent Development:

• In 2023: BrainCool, a medical device company that offers therapeutic hypothermia systems solutions, signed an exclusive distribution agreement with Asahi Kasei Corporation (Japan) for the BrainCool System/IQool System and IQool System Pads in key markets across Europe as well as the United States.

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