MARKET OUTLOOK
The Middle East and Africa intravascular temperature management system market report by Triton states that the market is expected to flourish with a CAGR of 4.07% in the forecast years throughout 2019-2027.
The UAE, Turkey, South Africa, Saudi Arabia and countries in rest of MEA together constitute the market for intravascular temperature management systems in the Middle East and African region.
Strict labeling requirement and regulatory framework have been imposed by regulatory authorities for interventional cardiology devices. The major cardiovascular diseases need surgical treatment that requires the administration of general anesthesia. This, in turn, leads to the employment of intravascular temperature management as their use leads to various complications. Medical devices are considered to have high risks involved and need to undergo safety examinations to display medical effectiveness before being receiving approval by regulatory authorities. Interventional cardiology devices are Class III devices and require extended clinical trials and PMA applications. Strict product approval processes and safety regulations make it difficult for manufacturers to launch new products on the market. Also, some devices undergo rigorous clinical testing and require post-marketing approval (PMA). Sometimes an extensive review process is followed for particular devices. Failure to comply with the regulations will have an adverse effect on the market growth for intravascular temperature management systems.
COMPETITIVE OUTLOOK
The key companies profiled in the report include Vyaire Medical, Inc., Becton, Dickinson and Company, The 37Company, Geratherm Medical AG, The Surgical Company B.V., Stihler Electronic GmbH (acquired by Gentherm GmbH), Stryker Corporation and ZOLL Medical Corporation.