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Cardiac arrest is a medical condition in which the heart stops beating. Sudden cardiac arrest is among the top causes of deaths and is caused due to coronary diseases, abnormal heart rhythm, atherosclerosis, and others. According to WHO, cardiovascular diseases take lives of 17.9 million people every year which accounts for 31% of all global deaths. Temperature management becomes very important in order to prevent neurological damage post-cardiac arrest. The American Heart Association recommends therapeutic hypothermia for better outcomes in case of cardiac arrest. In patients with cardiac arrest, therapeutic hypothermia is induced through intravascular cooling systems. In intravascular cooling catheters, cool and warm saline is circulated in a closed-loop throughout the catheter, resulting in quick cooling of the patient without the infusion of saline into the patient. The intravascular cooling industry is flourishing owing to the emerging guidelines for patient temperature management during cardiac arrest.
Key Market Driver -
Increasing incidences of sudden cardiac arrest
Key Market Restraint -
Limited products owing to lack of major players
Global intravascular cooling market growth is being driven owing to the increasing incidences of sudden cardiac arrest and rising adoption of intravascular cooling catheters for hypothermia management. Furthermore, the emerging government guidelines for the hypothermia cardiac arrest management is also expected to fuel the global intravascular cooling market during the forecast period. The Ohio State University recommends the use of intravascular cooling catheters for therapeutic hypothermia to improve the neurological outcomes post to cardiac arrest. Such supportive government recommendations are likely to foster the market during the projected period.
However, limited products owing to the lack of major players and prominent use of endovascular cooling systems is a major factor that can inhibit the growth of the global intravascular cooling market.
The major companies covered in the global intravascular cooling market report include ZOLL Medical Corporation, Belmont Instrument LLC., BD, and other players.
As per the current intravascular cooling market trends, hospitals & ambulatory surgery centers segment is expected to account for the largest share of the market due to a significant increase in the number of critical care units in hospitals, which requires temperature management system for patients, and rising prevalence of cardiovascular diseases.
The global intravascular cooling market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to dominate the intravascular cooling market during the forecast period owing to the increasing incidences of sudden cardiac arrest and hypothermia and technological advancements in temperature management devices. According to the American Heart Association (AHA), more than 350,000 cardiac arrests occur outside the hospital every year in the U.S.
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This is likely to propel the demand for intravascular cooling devices in North America. In Europe and Asia Pacific, the intravascular cooling market is anticipated to expand mainly due to the rising aging population, improving government guidelines and increasing awareness regarding temperature management devices. The increasing number of hospitals and critical care units and improving healthcare infrastructure are projected to augment the market in the Middle East and Africa and Latin America.
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