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Patient Warming Devices - Global Market Trajectory & Analytics

  • ID: 5027957
  • Report
  • February 2022
  • Region: Global
  • 392 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • 3M Company
  • Barkey GmbH & Co. KG
  • Enthermics, Inc.
  • Geratherm Medical AG
  • LivaNova PLC
  • NOVAMED

Global Patient Warming Devices Market to Reach $2.5 Billion by 2026


Patient warming devices are routinely used in clinical settings to provide relief and help patients tolerate unintended loss of the body heat by maintaining the normal body temperature, resulting in low risk of complications and faster recovery. These devices are widely used by the medical staff to improve patient care during patient transfer and surgeries as well as deal with severely diseased or injured patients. Anesthetized patients and people with traumatic injuries hold high risk of developing hypothermia, a critical challenge owing to associated complications. Patient warming devices are an indispensable component of targeted temperature management, also termed as protective or therapeutic hypothermia. Amid the COVID-19 crisis, the global market for Patient Warming Devices estimated at US$1.8 Billion in the year 2020, is projected to reach a revised size of US$2.5 Billion by 2026, growing at a CAGR of 5.5% over the analysis period. Surface Warming Systems, one of the segments analyzed in the report, is projected to grow at a 4.3% CAGR to reach US$1.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Intravascular Warming Systems segment is readjusted to a revised 6.8% CAGR for the next 7-year period. This segment currently accounts for a 28.9% share of the global Patient Warming Devices market.



The U.S. Market is Estimated at $687.6 Million in 2021, While China is Forecast to Reach $327.7 Million by 2026


The Patient Warming Devices market in the U.S. is estimated at US$687.6 Million in the year 2021. The country currently accounts for a 35.26% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$327.7 Million in the year 2026 trailing a CAGR of 7.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 5.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR while Rest of European market (as defined in the study) will reach US$351.9 Million by the close of the analysis period.

The market is receiving a major push from the prevalence of chronic conditions, especially oncology and cardiovascular ailments, coupled with increasing geriatric population. Continuous surge in aging population in developing regions like Europe and North America is expected to bolster the demand for patient warming devices. These devices are poised to garner considerable attention in the medical practice to ensure rewarming following surgeries and managing severely wounded people who are at high risk of developing hypothermia. Another prominent factor that is slated to boost global demand is the increasing number of blood transfusion procedures. The blood loss due to severe injuries and the immediate requirement for blood transfusion at the time of emergency surgery and treatment create the need to maintain the body temperature. In order to avoid complications during transfusion, hospitals are increasingly using blood warmers and fluids for bringing the temperature of blood to the body`s temperature. A sizeable fraction of heart bypass surgeries across countries rely on cooling-heating devices. These warming devices are anticipated to gain significant prominence in healthcare facilities for preventing hypothermia during surgical interventions.

Patient Warming Accessories Segment to Reach $666.3 Million by 2026


In the global Patient Warming Accessories segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$390.5 Million in the year 2020 will reach a projected size of US$575.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$51.5 Million by the year 2026, while Latin America will expand at a 7.3% CAGR through the analysis period.

Select Competitors (Total 48 Featured) -

  • 3M Company
  • Augustine Surgical, Inc.
  • Barkey GmbH & Co. KG
  • Becton, Dickinson and Company
  • Care Essentials
  • Cincinnati Sub-Zero Products, Inc.
  • Enthermics, Inc.
  • GE Healthcare
  • Geratherm Medical AG
  • Inspiration Healthcare Group plc
  • Koninklijke Philips N.V.
  • LivaNova PLC
  • Medtronic plc
  • NOVAMED
  • Paragon Medical
  • Smiths Medical, Inc.
  • Stihler Electronic GmbH
  • Stryker Corporation
  • The 37Company
  • ZOLL Medical Corporation
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Frequently Asked Questions about the Global Market for Patient Warming Devices

What is the estimated value of the Global Market for Patient Warming Devices?

The Global Market for Patient Warming Devices was estimated to be valued at $1.8 Billion in 2020.

What is the growth rate of the Global Market for Patient Warming Devices?

The growth rate of the Global Market for Patient Warming Devices is 5.6%, with an estimated value of $2.5 Billion by 2026.

What is the forecasted size of the Global Market for Patient Warming Devices?

The Global Market for Patient Warming Devices is estimated to be worth $2.5 Billion by 2026.

Who are the key companies in the Global Market for Patient Warming Devices?

Key companies in the Global Market for Patient Warming Devices include 3M Company, Augustine Surgical, Inc., Barkey GmbH & Co. KG, Becton, Dickinson and Company, Care Essentials, Cincinnati Sub, Zero Products, Inc., Enthermics, Inc. and Geratherm Medical AG.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • 3M Company
  • Barkey GmbH & Co. KG
  • Enthermics, Inc.
  • Geratherm Medical AG
  • LivaNova PLC
  • NOVAMED

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 and a Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
  • COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019E to 2022F
  • Elective Surgeries Report Roller-Coaster Ride amid COVID-19
  • COVID-19 Induced YOY Decline in Heart Surgery Volumes in the US in 2020
  • Fallout of Pandemic - Colossal Backlog of Elective Surgeries & Extended Waiting Times
  • Amid the Hammering, Demand for Air-Free Patient Warming Devices Rise for COVID-19 Infection Risk Environment Settings
  • Bruised by the Pandemic, Global Patient Warming Devices Market to Pick Pace from 2021
  • Maintaining Body Temperature - Critical for Health and Well-Being of Patient
  • Patient Warming Devices: Ensuring Relief, Coziness & Faster Recovery for Patients
  • Perioperative Hypothermia
  • Maintaining Body Temperature in Patients
  • Forced Air Warming for Hypothermia
  • Intravascular Warming for Induced/Unintentional Hypothermia
  • Rising Number of Chronic Ailments & Surgeries Set to Galvanize the Patient Warming Devices Market
  • Key Drivers Moving Patient Warming Devices Market toward Warm Mode
  • Surface Warming Devices: Primary Segment of Patient Warming Devices Market
  • World Patient Warming Devices Market by Product Type (2020 & 2027): Percentage Breakdown of Revenues for Surface Warming Systems, Intravascular Warming Systems, and Patient Warming Accessories
  • Analysis by Application
  • World Patient Warming Devices Market by Application (2020 & 2027): Percentage Breakdown of Revenues for Acute Care, Perioperative Care, New-born & Pediatric Care, and Other Applications
  • Regional Analysis: North America Undertakes Commanding Position in Patient Warming Devices Market
  • World Patient Warming Devices Market by Region (2020 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
  • Global Patient Warming Devices Market: Geographic Regions Ranked by CAGR (Value) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
  • Competitive Scenario: Patient Warming Devices Providers Tether on Product Innovations to Expand Footprint
  • Recent Market Activity
  • Patient Warming Devices - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Uptrend in Healthcare Spending to Result in Improved Opportunities
  • World Healthcare Expenditure (In US$ Billion) for the Years 2017, 2019, 2021 & 2023
  • Healthcare Costs as a % of GDP by Country for the Years 2020 & 2023
  • Growing Geriatric Population to Push the Market Ahead
  • Expanding Elderly Population Worldwide: Breakdown of Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030
  • Global Population Statistics for the 65+ Age Group by Select Countries: 2019
  • Life Expectancy at Birth for Select Countries in Number of Years
  • Rising Prevalence of Chronic Diseases Widens Market Prospects
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • World Diabetes and Population Statistics (2019, 2030 & 2045)
  • Fatalities by Heart Conditions: Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
  • Rise in Surgical Procedures Calls for Temperature Management Systems
  • Growth in Number of Surgeries in the US (2010-2020) (in %)
  • Global Surgical Procedure Volume by Procedure Type (2018)
  • Number of Surgical Procedures (per 100,000 People) in Select Countries
  • Preoperative Forced-Air Warming System for Thoracoscopic Surgery Patients
  • Effect of Perioperative Warming in Plastic Surgery Settings
  • Rapid Increase in Electrosurgery Procedures Fuels Demand
  • High Incidence of Preterm Births Drives Demand in Neonatal ICUs
  • Countries with High Rate of Preterm Births Worldwide Country Total Preterm Births
  • Total Preterm Births (in Percentage) in the US: 2010-2018
  • Forced-Air Warming Critical to Prevent Hypothermia
  • Both Active & Passive Warming Devices Make Gains
  • Technologically Innovations & Advancements

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Patient Warming Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 48
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • 3M Company
  • Augustine Surgical, Inc.
  • Barkey GmbH & Co. KG
  • Becton, Dickinson and Company
  • Care Essentials
  • Cincinnati Sub-Zero Products, Inc.
  • Enthermics, Inc.
  • GE Healthcare
  • Geratherm Medical AG
  • Inspiration Healthcare Group plc
  • Koninklijke Philips N.V.
  • LivaNova PLC
  • Medtronic plc
  • NOVAMED
  • Paragon Medical
  • Smiths Medical, Inc.
  • Stihler Electronic GmbH
  • Stryker Corporation
  • The 37Company
  • ZOLL Medical Corporation
Note: Product cover images may vary from those shown