- The Global Temperature Management (Therapeutic Hypothermia) Market is expected to grow at a CAGR of 3.5% during the forecasting period (2020-2027). Therapeutic hypothermia, also known as targeted temperature management or protective hypothermia, is a reduction of body temperature, from 32 °C to 34 °C for faster recovery. Therapeutic hypothermia is crucial in the treatment of cardiovascular conditions like cardiac arrests and myocardial infarction. It improves neurological functioning after resuscitation from cardiac arrest. Temperature management involves heating or cooling to maintain a normal core body temperature. The basic procedure includes intentional hypothermia (condition of low body temperature), rewarming from hypothermia, or maintaining normal desired core body temperature. The implementation of a patient temperature management system leads to a reduction in surgical site infections, reduction in the length of hospital stays, which contributes to reducing treatment costs.
- Key players are adopting some key strategies like mergers, acquisitions, new product development and launches, and regional expansions. With the increasing demand for new medical technologies in the region, many key players are expanding their market. The advancements in technologies favored by enough funding in R&D are also contributing to the growth of the market.
- For instance,
- In March 2019, Smiths Medical introduced a new Level 1 high-flow convective warmer, which is a quiet, simple, and safe thermal-care solution for keeping patients in normothermia through every stage of surgery.
- In 2018, Advanced Cooling Therapy (ACT) had received CE mark approval for the use of their Esophageal Cooling Device (ECD) with the Altrix Precision Temperature Management System by Stryker®, which is considered to be a breakthrough advancement in the Patient Temperature management system market.
- In January 2017, Stryker launched AltrixTM, a next-generation precision temperature management system that can be used in all clinical settings.
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