Scalp cooling systems, also known as cold caps, are wearable medical devices used during chemotherapy to cool the scalp and reduce the chances of hair loss. They work by limiting the amount of chemotherapy that reaches hair follicles by constricting the blood vessels beneath the scalp. This allows many cancer patients, especially those receiving treatment for breast cancer, to retain much or even all of their hair. The scalp cooling devices use circulating coolant that keeps the scalp at a temperature that is lower than normal body temperature but higher than freezing to minimize discomfort.
The global scalp cooling system market is estimated to be valued at US$ 130 million in 2023 and is expected to exhibit a CAGR of 15.82% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising adoption of chemotherapy treatments for cancer patients remains the primary driver for the scalp cooling system market. According to the American Cancer Society, nearly 1.9 million new cancer cases were diagnosed in the United States in 2020. This high prevalence of cancer patients undergoing chemotherapy will continue to fuel demand for scalp cooling systems that can help them retain their hair during treatment. Additionally, ongoing technological advancements are leading to the development of more efficient scalp cooling devices with improved features and capabilities. This is expanding the potential patient base for scalp cooling systems. However, the high cost of these devices remains a key challenge for widespread adoption.
SWOT Analysis
Strength: Scalp Cooling technology provides a non-invasive solution for preventing hair loss during chemotherapy treatment in many cancer patients. It functions through carefully controlling the temperature of the scalp to constrict blood vessels and reduce the amount of chemotherapy drug reaching hair follicles. Scalp Cooling Systems allows patients to maintain their self-image and overall quality of life during cancer treatment.
Weakness: Scalp Cooling Systems require specialized skills from medical professionals to properly fit the scalp cooling cap and monitor the system during chemotherapy sessions. Some patients still experience mild to moderate hair loss even with scalp cooling treatment.
Opportunity: With advancements in cold cap technology making scalp cooling more effective and accessible, the potential patient pool is expanding to include various types of chemotherapy regimens and cancer indications beyond breast cancer. Favorable reimbursement policies from medical insurance providers also promote wider adoption of scalp cooling among cancer patients.
Threats: High costs associated with scalp cooling equipment and maintenance may limit accessibility for some patients. Questions remain regarding long term effects and success rates across all chemotherapy regimens posing regulatory concerns. Alternative non-invasive hair loss prevention methods can emerge as competition.
Key Takeaways
The global Scalp Cooling System market is expected to witness high growth over the forecast period of 2023-2030, propelled by increasing cancer incidence worldwide and demand for quality of life preservation among patients undergoing chemotherapy. The global Scalp Cooling System Market is estimated to be valued at US$ 130 million in 2023 and is expected to exhibit a CAGR of 15.82% over the forecast period 2023-2030.
Regional analysis shows Europe currently dominates the market owing to favorable reimbursements and widespread availability. North America is expected to take the lead in market share due to escalating demand for scalp cooling from the large patient pool undergoing chemotherapy in the region.
Key players operating in the Scalp Cooling System market are Dignitana Inc., Penguin Cold Caps, and Paxman. Dignitana Inc. dominates the scalp cooling system market with its flagship DigniCap cooling system approved for use in major markets. The company is focused on clinical trials to expand indications for scalp cooling to additional chemotherapy regimens and cancers. Penguin Cold Caps has a strong presence worldwide with its patented Paxman scalp cooling system. It is focused on innovations to the cold cap design and development of smaller portable devices for greater access and comfort for patients.
