Scalp Cooling System Market

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2. SCALP COOLING SYSTEM MARKET ANALYSIS Scalp Cooling System Market, by Therapeutic Application (Chemotherapy Induced Hair loss, Neonatal Encephalopathy, and Cardiac Arrest), by End User (Hospitals, Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Scalp cooling systems are helmet like structures containing a coolant, which is maintained at a low temperature ranging from -15°F to -40°F. These systems help in reducing chemotherapy induced hair loss.Chemotherapeutic agents target rapidly dividing cells to treat cancer, which results in loss of hair. Scalp cooling systems reduce the amount of chemotherapy medicines that reach the hair follicles by constricting the blood vessels present beneath the scalp. Low temperature decreases the hair follicle activity by slowing down the cell division and hence, the follicles are less affected by chemotherapy medicines.Global Scalp Cooling System Market – DynamicsAlthough chemotherapy is one of the effective procedures used for treating cancer, it also causes hair loss. Hence, high prevalence of cancer is expected to boost growth of the scalp cooling system market during the forecast period. For instance, according to the Cancer Treatment & Survivor Facts & Figures, 2019 by the American Cancer Society, around 16.9 million individuals are reported to be having a cancer history out of which around 3.8 million women have a history of breast cancer in the U.S. The American Cancer Society also stated that 56% of women suffering from stage III breast cancer opted for the mastectomy followed by chemotherapy, while 56% of women diagnosed with stage IV metastatic cancer chose chemotherapy or radiotherapy without surgery.Increasing adoption of strategies such as mergers, acquisitions, and agreements by market players are likely to propel the market growth. For instance, in March 2019, Paxman entered into a five year research and collaboration agreement with the University of Huddersfield. The agreement also includes a new multidisciplinary research group at the university, the PAXMAN Scalp Cooling Research Centre. This center will be focusing on the research of biological hair follicle coupled with developing innovating scalp cooling systems as well as 3D printed cooling caps. In December 2019, Paxman announced that Paxman Scalp Cooling System received the market clearance in Argentina and the first 8 systems will be received by the distributor XeikonDiagno. Thus, the company is strategically focusing on growth through innovation and geographical expansion.Moreover, its competitor, Dignitana is also targeting market growth by expanding its presence in new geographies. For instance, in September 2019, DigniCap Delta, the scalp cooling system by Dignitana Inc., received approval from the Therapeutic Goods Administration (TGA) to market the product in Australia.

4. Global Scalp Cooling System Market – Regional Insights • North America accounted for the largest market share in 2018, owing to launches and approvals of new scalp cooling systems in the region. For instance, in June, 2019, the U.S. Food and Drug Administration (FDA) approved a new scalp cooling device DigniCap Delta developed by Dignitana Inc., to prevent chemotherapy-induced hair loss in patients with solid tumors. Similarly, in June 2018, the U.S Food and Drug Administration (FDA) approved Paxman advanced scalp cooling system developed by Paxman to reduce hair loss due to chemotherapy used in treating cancers such as breast, colorectal, bowel, ovarian, and prostate cancer. Furthermore, in May 2019, the company announced that it installed or signed delivery agreements for over 500 scalp cooling systems in the U.S to prevent chemotherapy induced hair loss. • Key players operating in the market include Dignitana Inc., Penguin Cold Caps, and Paxman.

5. Global Scalp Cooling System Market – Taxonomy • On the basis of therapeutic application, the global scalp cooling systemmarket is segmented into: • Chemotherapy Induced Hair Loss • Neonatal encephalopathy • Cardiac Arrest • On the basis of end user, the global scalp cooling systemmarket is segmented into: • Hospitals • Clinics • Others • On the basis of region, the global scalp cooling systemmarket is segmented into: • North America • Latin America • Europe • Asia Pacific • Middle East • Africa

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