Cooling therapy devices are meant for neonatal cases, cooling therapy is a process applied to infants with severe breathing issue. They develop serious oxygen deficiency at the time of birth, the condition is known as hypoxic-ischemic encephalopathy or birth asphyxia. The basic principle of cooling therapy devices includes a sensor based thermistor with a platform that could either be a mattress or a cap. Running cold water is applied through the medium which helps in regulating the temperature, by dropping low allowing a more controlled breathing cycle for the infant. The advances in cooling therapy devices over the period show accurate results for feasible requirements. Hypoxic-ischemic encephalopathy is caused due to numerous problems such as umbilical cord injuries, problems with the placenta, trauma, and tachysystole. These inborn difficulties mark the importance of cooling therapy devices in neonatal units where delivery is performed, to conduct therapy for proper breathing in infants
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The global fertility rate has fallen in recent years which is one aspect of the market the manufacturers are concerned about. Though the indicator is quite indirect but effects the market in terms of the target population. The mortality rate in such conditions is very high for infants getting diagnosed with hypoxic-ischemic encephalopathy, thus making this industry far greater in need at the consumer level. But in cases, it is observed that patients suffer from brain damage that leads to cerebral palsy, vision loss and hearing loss. Procedures using cooling therapy devices for hypothermia treatment or cooling therapy is a mere recent technique through which infants with breathing problems are treated, it is in its growing phase which would allow it to reach most of the unmet market. Economic growth of the country, healthcare stability, and industry penetration are some other factors giving contrast dynamics to the entire market for cooling therapy devices. The demand for cooling therapy devices offer a number of manufacturers to be a part of this industry and a visible penetration of manufactures is observed in many unmet developing countries. Moreover, these cooling therapy devices must be handled by medical experts only and lack of trained professionals to handle cooling therapy devices also limits their use in clinics and hospitals with poor facilities.
The global market for Cooling Therapy Devices is segmented on basis of product type, end user and geography:
Segment by Product Type
- Cooling therapy mattress
- Cooling therapy caps
Segment by End User
- Hospital
- ASCs
- Maternity Clinics
The global cooling therapy devices market is segmented by product type, end user and geography. Based on the product type, the global cooling therapy devices market is segmented into mattress and caps. The mattress is more certainly used for cases of hypothermia, product covers most part of the infant body giving it an edge over other cooling therapy devices. Caps are used on a general note for better breathing cycle but the no. the product available is less as compared to other cooling therapy devices. Based on the end user, the cooling therapy devices market is segmented into the hospital, ASCs, and maternity clinic. A number of childbirths in a particular end user segment would have a higher impact in overall cooling therapy devices market. Though, it is also dependent on the ratio of birth asphyxia observed in such situation or place (end user)
On the basis of regional presence, global Cooling Therapy Devices market is segmented into six key regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, and Middle East & Africa. North America leads the cooling therapy devices market and reasons being leading manufacturer’s presence in the region, where manufacturers are targeting developed markets for their range of cooling therapy devices. Western Europe is the second leading market for cooling therapy devices due to their healthcare infrastructure, no. of incidences and developed geographical outlook. Supporting dynamic factors are likely to influence the market growth for cooling therapy devices market during the forecast period on a global level.
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Major players in the cooling therapy devices market are Natus Medical Incorporated., Inspiration Healthcare Group plc, CooperSurgical, Inc. and few other. Practically, there are very few companies involved primarily for cooling therapy devices on a global level.