Targeted Temperature management (Therapeutic Hypothermia) Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Targeted Temperature Management Market Size

Targeted Temperature management (Therapeutic Hypothermia) Market size was valued at USD 2,834.60 million in 2023 and is estimated to reach at a compound annual growth rate (CAGR) of 6.50% over the forecast period 2024-2031.

Therapeutic hypothermia, also known as targeted temperature management or protective hypothermia, is the 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 a 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. TTM is used in various clinical areas such as neurology, cardiovascular conditions like cardiac arrests and myocardial infarction, and sepsis. It is considered an established protective adjunct in neurosurgeries, cardiovascular surgeries, and endovascular aneurysm repair.

Market Summary

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Market Dynamics

The rising number of surgical procedures is one of the primary drivers for the temperature management market.

The number of surgical procedures performed has increased owing to the growing geriatric population. According to the WHO, the volume of surgical procedures performed is projected to reach 400 million by 2020 from 300 million in 2012 globally. According to the United Nations, the population of individuals aged 60 and over is expected to grow by 56% from 901 million in 2015 to 1.4 billion by 2030; by 2050, this population group is projected to double in size, reaching nearly 2.1 billion. According to Eurostat 2017, a high number of surgeries were performed in European countries, including cataract surgery and colonoscopy. Also, the number of hip implant surgeries, major peritoneal surgeries, thoracic surgeries, and ENT surgeries along with the surgeries for the central nervous system (CNS), in Europe was around 35,860 thousand procedures in 2016 and is projected to reach 41,818 thousand procedures by 2023. A group of 9 hospitals in the UK including the University Hospital of Wales in Cardiff, Basildon University Hospital in Essex, and Royal Victoria in Belfast are conducting a trial on 1,900 patients to understand the efficiency of TTM in OHCA. This raises the demand for temperature management devices usage in hospital rooms, intensive care units (ICUs), and other areas. Thus, the increasing number of surgical procedures is driving the targeted temperature management market globally

Market Segmentation Analysis

The non-invasive method includes both conventional and surface cooling structures that are capable of offering precise cooling and warming in critical medical conditions. Unlike invasive technique, this method does not include any catheters and avoid medication of saline or other cooling fluids into the patient body Most simple means of patient cooling such as ice packs, water-circulating pads and cooling blankets are the major structures of non-invasive TTM. The ARCTIC SUN 5000 Temperature Management System developed by C. R. Bard, Inc. is the most trusted brand of non-invasive targeted temperature management system in the European market. Cincinnati Sub-Zero (CSZ) is another global player operating in the non-invasive TTM market with sales of its Blanketrol systems. THP Systems Ltd is the authorized sales and service representative of CSZ in the European region.

Market Geographical Share

North America is dominating the global targeted temperature management market in 2019 and is estimated to hold a significant market size over the forecast period (2020-2027) owing to the product innovations, well-developed healthcare infrastructure, healthcare facilities, and high adoption of new technologies.  Favorable government initiatives to modernize healthcare infrastructure coupled with the increasing number of hospitals is also expected to positively impact the temperature management market in this region.  The rising incidence of CVD disorder is also driving the demand for temperature management devices in this region. For instance, According to the American Heart Association 2019 statistics, cardiovascular disease (CVD), is an underlying cause of death, accounting for 840,678 deaths in the US in 2016, approximately 1 of every 3 deaths.  In addition, a large volume of surgical procedures performed in North American countries is also boosting the market growth. For instance, the number of outpatient surgical procedures in the US is expected to grow from 130 million procedures in 2018 to 145 million procedures by 2023.  The incidence of out-of-hospital sudden cardiac arrest (OHCA) in industrial countries is reported to be between 35.7 and 128.3 cases per 100,000, with a mean of 62 cases per year which is approximately 300,000 people in the United States.

Market Companies

Major Players are Smiths Medical, Inc, Medtronic Plc, Stryker Corporation, 3M Health Care, Qool Therapeutics, Seiratherm GmbH, ZOLL Medical Corporation, Gentherm (Cincinnati Sub-Zero Products), Becton, Dickinson and Company, Drägerwerk AG & Co. KGaA, EMCOOLS Medical Cooling Systems GmbH, Attune Medical, BrainCool AB, Belmont Medical Technologies.