The global intravascular temperature management market is projected to reach USD 272.3 Million by 2022 from USD 219.8 Million in 2016, growing at a CAGR of 3.6%.
The major factors driving the growth of this market include 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 undertaken by key players in the global market.
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On the basis of application, the global intravascular warming market is classified into preoperative care, operative care units, and post-operative care units. The preoperative care segment is expected to witness the highest growth rate during the forecast period. This growth is attributed to the increasing awareness regarding the benefits of preoperative warming in surgical settings.
Similarly, the intravascular cooling market is classified into perioperative care and acute/critical care, by application. The acute/critical care segment is further divided into intensive care units, neurological care units, emergency care units, coronary care units, cath labs, and burn care centers. The perioperative care segment is expected grow at the highest CAGR during the forecast period. The development of technologically advanced systems is one of the factors driving growth in this segment.
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North America is expected to hold the largest market share of the market in 2017, followed by Europe. The North American region is also expected to grow at the highest CAGR during the forecast period. Factors such as the increasing number of surgical centers, high incidence of cardiac arrests and neurological disorders, and the high adoption rate of technologically advanced devices in North American countries are driving the growth of the market in the region.