MARKET OUTLOOK
The Asia-Pacific intravascular temperature management system market is expected to grow in terms of revenue with a CAGR of 4.30% during the forecast period 2019 to 2027, as stated by a Triton Market Research report.
Japan, China, India, South Korea, Australia & New Zealand, ASEAN countries and countries in rest of APAC together form the market for intravascular temperature management systems in the Asia-Pacific region.
According to the National Institute of Health, in 2017, lung cancer remained the key cause of cancer deaths, with around 1.6 million on the global scenario every year. With the FDA approval of the enhancing utility of the VENTANA ALK (D5F3), they are benefiting the patients by providing additional treatment options considering non-small cell lung cancer. The constant rise in the prevalence of cancer in China is acting as a key driver for the growth of the immunochemistry market in the country. According to the American Cancer Society, around 7500 deaths are caused due to cancer per day in China. The prevalence of lung cancer is the leading cause of cancer deaths in the country. With the rising incidence and mortality of cancer, it is one of the leading causes of death in the country and is a key public health issue. The increasing cases of cancer in China are driving the intravascular temperature management market growth in China.
COMPETITIVE OUTLOOK
The biggest brands in the market include Asahi Kasei Corp., Vyaire Medical, Inc., Inditherm Plc (acquired by Inspiration Healthcare), Becton, Dickinson and Company, Biegler GmbH, The 37Company, Estill Medical Technologies, Inc. and Geratherm Medical AG