Healthcare

Global Temperature Management Market

April 1, 2020
ID: SR/HC-19
Format:pdf
Pages:220

Global Temperature Management Market by Product Type (Patient Warming Systems (Surface Warming Systems, Intravascular Warming Systems and Warming Accessories) and Patient Cooling Systems (Surface Cooling Systems, Intravascular Cooling Systems, and Cooling Accessories)),By Application(General Surgery, Cardiology, Neurology, Pediatrics, Thoracic Surgery, Orthopedic Surgery and Others), By End-User (ICU, Emergency Rooms, Operating Rooms, Neonatal ICU and Others),and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa), Forecasts, 2020 To 2027

Description

Global Temperature Management Market Overview

The global temperature management system market size was valued at US$ 2.2 Billion in 2020. in 2020 and projected to reach US$ 3.1 Billion by 2027, growing at a CAGR of 3.1% during the forecast period, 2021-2027. The increasing number of surgical procedures is one of the primary drivers for the temperature management market. The increased incidence of cancer and cardiovascular illnesses, the development of technologically sophisticated intravascular systems, and the growth of medical tourism drive this industry. Furthermore, low-cost procedures and treatments are now available in many nations drive the global temperature management systems market. The rising incidence of chronic illnesses and the resulting increase in healthcare facilities have expanded the market. Favorable reimbursement circumstances are boosting the use of temperature management systems.

Temperature Management helps medical staff improve the daily treatment results of patients in different environments through rapid infusion, blood routine, fluid warming, flushing warming, temperature monitoring, and convection warming. It provides solutions to manage the patient’s temperature with warming and cooling methods. Temperature management help in the effective and efficient processing of the patient’s core temperature. The target temperature and rate of change in temperature in the system will control the temperature of the salt flowing through the catheter. This device can be connected to a personal computer to download patient files.

Global Temperature Management Market Insights

Global Temperature Management Market likely to grow with a substantial rate during the forecast period, 2020-2027. The rise in the number of incidences of chronic conditions across the world, coupled with the increase in the number of surgical procedures, will fuel the growth of the global temperature management market in the projected period. Moreover, the financial aids by various governments across the globe for modernizing healthcare infrastructure coupled with the increasing number of hospitals will propel the global temperature management market in the upcoming periods. In addition, the surge in demand for temperature management devices usage in hospital rooms, intensive care units (ICUs), would trigger the global temperature management industry.

The surge in the incidence of cardiac arrests and chronic diseases has bolstered the need for patient temperature management in growing populations. The rise in the prevalence of cardiovascular diseases and cancer has encouraged the high demand for patient temperature across the globe. Furthermore, the surge in surgical procedures across the world and the rise in demand for patient temperature devices projected to accelerate the growth of the global temperature management market size. Expanding the aging population across the globe, coupled with augmented incidences of cardiac arrest and central nervous systems disorders, is expected to augment the global temperature management market in the next few years.

Growth Driver

The rise in the Incidence of Chronic Conditions

Common chronic diseases mainly include cardio-cerebrovascular diseases, diabetes, malignant tumors, chronic respiratory diseases, etc., which have a long course, widespread epidemics, high cost, and high disability and mortality. Chronic diseases are largely preventable diseases. According to WHO, it has projected that, by 2020, chronic diseases will account for almost three-quarters of all deaths worldwide, and 70% of deaths in developing countries will occur due to diabetes. In the developing world people with diabetes will increase by more than 2.5-fold, from 84 million in 1995 to 228 million in 2025.

Pre Covid-19 impact on global temperature management systems market

The global temperature management system market grew due to increased government initiatives for temperature management systems and technologically advanced industry players. Things were normal before the Covid 19 breakdown; governments in their separate countries focused more on continuous research, leading to significant advancements.

Covid-19 impact on global temperature management systems market

The COVID-19 pandemic has emerged as the world’s most serious threat. Various countries’ trade and commercial operations have been disrupted. On the other hand, the epidemic has created many growth possibilities for firms that provide patient monitoring and control equipment. As a result, despite disruptions in the manufacturing and supply chains of industrial businesses, increased demand has fueled the expansion of the temperature management systems market.

Post Covid-19 impact on global temperature management systems market

The COVID-19 pandemic wreaked havoc on the healthcare systems of several countries. The temperature management systems market is expected to experience a fall as a result of the negative impact. The choice to postpone elective operations and other medical treatments have reduced hospital demand for temperature control systems. With all elective surgeries canceled or postponed, the market for temperature management systems has seen a major decline in demand.

However, the market will likely rebound in 2021 as conditions improve and all pending elective surgeries and routine treatments are completed.

Product Type Segmental Analysis

Based on product type, the global Temperature Management market bifurcates into Patient Warming Systems (Surface Warming Systems, Intravascular Warming Systems, and Warming Accessories) and Patient Cooling Systems (Surface Cooling Systems, Intravascular Cooling Systems, and Cooling Accessories)). The Patient Warming Systems segment likely to register the highest growth in the forecast period. This growth can be attributed to factors such as the surge in demand for patient warming systems during the patient’s body before surgery, like general anesthesia, to lower the patient’s body temperature. Patient Warming Systems includes Surface Warming Systems, Intravascular Warming Systems, and Warming Accessories.

The Patient Cooling Systems segment will drive owing to the rise in demand for these systems during surgical procedures such as orthopedic surgeries, gynecological & obstetric procedures, gastrointestinal procedures, and general surgeries.

Application Segmental Analysis

Based on application, the global Temperature Management market categorized into General Surgery, Cardiology, Neurology, Pediatrics, Thoracic Surgery, Orthopedic Surgery, and Others. The General Surgery segment projected to significant growth due to a huge increase in the number of cardiac and gynecology surgeries.

The Cardiology segment will influence on account of the growing number of people suffering from CVDs and demand for advanced cardiac treatment.

End-User Segmental Analysis

Based on end-user, the global Temperature Management market segregated into ICU, Emergency Rooms, Operating Rooms, Neonatal ICU, and Others. ICU segment expected to gain maximum revenue by 2027 attributable to the huge demand for Temperature Management in the support given to patients during emergencies and after undergoing surgeries in hospitals.

The Neonatal ICU accounted for the significant share in 2019, the primary growth attributed to the growing number of childbirth and premature deliveries across the world, which requires temperature management.

Region Segmental Analysis

Based on geography, the global Temperature Management market size segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s market share by 2027, owing to well-developed healthcare infrastructure, healthcare facilities, and high adoption of new technologies in these regions coupled with a rapidly rising prevalence of chronic diseases.

The Asia Pacific will be the fastest-growing market due to rising surgical procedures and prevalence of chronic conditions, especially in geriatric populations, mounting incidence of cardiac arrests and CNS disorders along with efforts done by government to increase access to elective surgeries.

Competitor Analysis

Companies such as 3M Company, Becton, Dickinson and Company, Dräger AG & Co. KGaA, Ecolab, GE Healthcare, Gentherm Incorporated, Inspiration Healthcare, Medtronic plc, Smiths Medical, Stryker Corporation, The 37Company, Bard Medical, Inc., Geratherm Medical AG, Inditherm Plc., and Zoll Medical Corporation are the key players in the Global Temperature Management Market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global Temperature Management manufacturing firm
Research organizations and consulting companies
Organizations, associations, and alliances related to Temperature Management
Regulatory bodies
Suppliers
Retailers

Scope of the report

Report Attribute	Details
Market size value in 2020	USD 2.2 billion
Revenue forecast in 2027	USD 3.1 billion
Growth Rate	CAGR of 3.1% from 2020 to 2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	Europe, North America, South America, Asia-Pacific, and Middle East & Africa
Key companies Profiled	Gentherm Becton, Dickinson and company, Adroit medical systems, Attune medical, Encompass group, Augustine surgical, GE Healthcare, Medtronic, The surgical company.

Recent Developments

In September 2021, Stryker Corporation announced the possession of Gauss Surgical, a Med Device Company.
In September 2021, Stryker launched a new tendon fixation device system with unique chemical and mechanical properties for orthopedic surgical applications.
In September 2021, Olympus Launched POWERSEAL Advanced Bipolar Surgical Energy Devices to strengthens its surgical portfolio and efficiency.

The objective of the Research

Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Product Type

Patient Warming Systems
- Surface Warming Systems
- Intravascular Warming Systems
- Warming Accessories
Patient Cooling Systems
- Surface Cooling Systems
- Intravascular Cooling Systems
- Cooling Accessories

By Application

By End-User

ICU
Emergency Rooms
Operating Rooms
Neonatal ICU
Others

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

Request Sample

Frequently Asked Questions (FAQ):

What is the growth rate of the global Temperature Management Market?

The growth rate of the worldwide Temperature Management Market is 5.54% during the forecasted period.

What is the size of the Temperature Management Market?

The Temperature Management Market is valued at USD 2.75 Billion in 2020 and will reach 5.35 Billion by 2027.

Who are the end-users of the Temperature Management Market?

ICU, Emergency Rooms, Operating Rooms, Neonatal ICU are the end-users of the Temperature Management Market.

What is the competitive landscape of the global temperature Management Market?

3M Company, Becton, Dickinson and Company, Dräger AG & Co. KGaA, Stryker Corporation, The 37Company, Bard Medical, Inc., Ecolab, GE Healthcare, Gentherm Incorporated, Inspiration Healthcare, Medtronic plc, Smiths Medical, Geratherm Medical AG, Inditherm Plc., and Zoll Medical Corporation are the key companies in the Global Temperature Management Market.

What are the growth drivers of the Temperature Management Market?

The rising Incidence of Chronic Conditions and the increasing number of surgical procedures are the growth drivers of the Temperature Management Market.

Who are the key players in the Global Temperature management system market?

Gentherm Becton, Dickinson and company, Adroit medical systems, Attune medical, Encompass group, Augustine surgical, GE Healthcare, Medtronic, The surgical company are the key players.

Select License

We Accept

Analyst support

After evaluating your requirements and addressing your technical problems, the expert analyst will resolve your query directly.

Customer satisfaction

According to your needs, our expert team will assist you with the capabilities, services, and proper research needs to be required and customize the report accordingly.

Inimitable expertise

Our expert team will create unrivaled reviews to provide you with a deep understanding of the reports.

Assured quality

We have created a systematic way to determine standards and satisfy your expectations.

Instant delivery

Unlike others, we provide you a great deal of instant delivery in the form of PDF/PPT/Word Doc directly to your email address within 24 hours after receiving full payment.

Privacy policy

We understand the inkling of your privacy, we will never misuse your email address.

Custom research service

We are giving you an opportunity through which you can directly ask our expert analyst to customize an exclusive study of the report to serve your research needs.

Quality & accuracy

We provide you with the accurate quality of the customized study of an exclusive report according to your research need.

Data visualization

As the business world’s growing faster every day, we understand the value of data management. We will create the reports by keeping all the visual data sets and metrics in the charts.

Information security

We truly respect your privacy and promise to keep your personal and confidential information safe and secure.