(PharmaNewsWire.Com, August 20, 2020 ) Temperature Management Systems Market by Product (Patient Warming Systems, Patient Cooling Systems), Application (Perioperative Care, Acute Care, Newborn Care), Medical Speciality (Cardiology, Neurology, Pediatrics, Orthopedic)
The temperature management market is projected to reach USD 3.2 billion by 2025 from USD 2.5 billion in 2020, at CAGR of 5.1%.
Market Growth Drivers:
1. Increase in the incidence of chronic conditions 2. Increasing number of surgical procedures 3. Growing number of contracts and agreements between market players 4. Untapped Emerging Markets
Objective of Study:
1. To define, describe, and segment the global market by product & service, technology, application, end user and region.
2. To provide detailed information about factors influencing market growth (drivers, restraints, and opportunities).
3. To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the global industry
4. To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.
5. To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
By type, the patient warming systems segment is divided into surface warming systems, intravascular warming systems, and warming accessories. The surface warming systems segment accounted for the largest share of the patient warming systems market in 2019. In temperature management procedures, the number of surface warming procedures are more as compared to invasive cooling procedures due to the increasing adoption rate of surface warming systems in surgical procedures such as orthopedic surgeries, gynecology and obstetrics procedures, gastrointestinal procedures, and general surgeries
Application:
By applications, the temperature management market is segmented into perioperative care, acute care, newborn care, and other applications. Among these, the perioperative care segment accounted for the largest share of the temperature management market in 2019. The increasing number of surgical procedures performed worldwide is the major factor driving the growth of this application segment. In addition, technological advancements, product development and launches, and growing partnership between key market players and hospitals are also supporting market growth.
Geographical Growth Analysis:
Detailed analysis of market in European countries such as the UK, Germany, France, Italy, Spain, and others.
Detailed analysis of industry in Asia Pacific countries such as China, Japan, India, and others.
North America, comprising the US and Canada, accounted for the largest share of the temperature management market in 2019. The large volume of surgical procedures performed in North American countries is a major factor driving market growth in this region.
The market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period. A number of factors such as the growing demand for aesthetic and medical surgeries, rising incidence of cardiac arrests and CNS disorders, government efforts to increase access to elective surgeries, and improving healthcare infrastructure are driving the growth of the temperature management market in the Asia Pacific.
The major players operating in this market are 3M Company (US), Medtronic (Ireland), Smiths Medical (US), Stryker (US), ZOLL Medical (a subsidiary of Asahi Kasei) (Japan), BD Company (US), Drägerwerk (Germany), Baxter (US), Ecolab (US), GE Healthcare (US), Inspiration Healthcare Group plc (UK), and Encompass Group (UK).
3M Company was the leading player in the temperature management market. The company provides an extensive range of temperature management products, such as warming blankets, warming systems, warming gowns, and non-invasive temperature management systems. For more than 20 years, 3M’s patient warming systems have been effectively used by more than 200 million patients.
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