The global intravascular temperature management market is estimated to reach USD 272.3 Million by 2022 from USD 228.4 Million in 2017, at a CAGR of 3.6% during the notice period. The growth of this market can be attributed to the large number of awareness campaigns/conferences arranged by both public and private organizations, increasing adoption of patient warming and cooling systems in developing countries, and geographic expansions and other growth strategies adopted by key players in the global intravascular temperature management market.
Acquisition was the most widely adopted growth strategy by key players in the past three years. Companies such as Zoll Medical, Medtronic, focused on acquiring smaller players to enhance their market presence. Players also focused on enhancing their product portfolio through product launches and approvals.
3M (US) held the leading position in the intravascular warming market in 2016. The company offers a broad range of products in this market. The company’s infection prevention division provides a wide range of patient warming solutions that are designed to prevent hypothermia in surgical settings. Moreover, the company has a strong geographic presence in over 70 countries and markets its products across North America, Asia Pacific, Europe, the Middle East and Africa (EMEA), and Latin America.
ZOLL Medical, an Asahi Kasei (US) company, is the largest player in the intravascular cooling market that holds over 50% of the global market share. The company manages to maintain its position in the market through strategic acquisitions. ZOLL acquired intravascular temperature management (IVTM) technology related to therapeutic hypothermia and rewarming from Radiant Medical (California) in September 2007. Later in 2009, Zoll acquired Alsius (California) and extended its presence in the temperature management market. Till 2014, Philip’s InnerCool temperature management system was a sole competitor to Zoll’s intravascular cooling product line. In November 2014, all of the assets of Philips’ InnerCool temperature management business, which includes catheter-based endovascular and surface temperature management technologies, were acquired by Zoll.
Some other leading players in the global intravascular temperature management market include Belmont Instrument (US), Biegler (Austria), Stihler Electronic (Germany), and BD company (US). These companies have well-established sales and distribution networks across the globe. They also make significant investments in R&D activities to add innovative technologies and products to their portfolios and are expected to remain important competitors in the market during the forecast period.
Intravascular Temperature Management Market by Type (Warming, Cooling), Application (Perioperative, Post-operative, Acute Care), Medical Condition (Stroke, Cardiac Arrest, Traumatic Brain Injury (TBI), Myocardial Infarction) - Global Forecasts to 2022
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