Intravascular Temperature Management Market to Reach $335,192 Thousand by 2025
Pune, Maharashtra, India, September 15 2020 (Wiredrelease) Allied Analytics –:According to a new report published by Allied Market Research, titled, Intravascular Temperature Management Market, by Product, Application, Indication, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025,” the market was valued at $261,556 thousand in 2017, and is projected to reach $335,192 thousand in 2025, registering a CAGR of 3.1% from 2018 to 2025.
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Intravascular temperature management is a technique applied to reach and maintain proper temperature in a patients body in operation theaters, recovery rooms, and intensive care units. Intravascular temperature management is used to cool or warm the blood to maintain the body temperature, which facilitates health improvement and reduces the risk of surgical site infections. The technique is also used in patients with hyperthermia or hypothermia. The procedure involves a system that is used to infuse cold or hot saline in a patients body with the help of a closed network catheter.
The factors that drive the growth of the intravascular temperature management market include rise in number of surgical procedures performed across globe and surge in adoption of intravascular temperature management across the globe. In addition, rise in prevalence of cardiovascular disorders and increase in incidence of surgical site infections are the other factors fueling the market growth. However, high cost of intravascular temperature management devices is expected to impede the market growth. Conversely, untapped potential in the emerging economies is expected to provide lucrative opportunities during the forecast period.
The consumables segment accounted for the largest market share in 2017, owing to rise in number of surgical procedures performed across the globe. Furthermore, the consumables segment is expected to grow at the highest CAGR from 2018 to 2025 and is anticipated to remain dominant during the forecast period.
Based on application, the acute/critical care segment occupied the largest share in 2017 and is expected to provide lucrative growth opportunities during the forecast period.
Intravascular temperature management is in high demand in the emergency care units. However, the ambulatory surgical centers segment is expected to grow at a highest CAGR during the forecast period, due to increase in number of ambulatory surgical centers across the globe.
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Key findings of the Intravascular Temperature Management Market:
The consumables segment accounted for more than two-thirds share of the global intravascular temperature management market in 2017.
The preoperative care segment is expected to grow at the highest CAGR from 2017 to 2025.
The non-sterile intravascular temperature management segment accounted for around one-fourth share of the global intravascular temperature management market in 2017.
Europe accounted for around one-fourth share of the global market in 2017.
LAMEA is expected to provide lucrative growth opportunities from 2017 to 2025.
North America was the leading revenue contributor to the global intravascular temperature management market in 2017 and is expected to maintain its dominance during the forecast period. This is attributed to high purchasing power and easy availability of devices in this region. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to increase in affordability and rise in healthcare expenditure.
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