Global Temperature Management Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028

The temperature management market is projected to reach USD 3.3 billion by 2028 from USD 2.5 billion in 2020, at a CAGR of 5.3% during the forecast period. Factors like the increasing global incidence of chronic conditions and the subsequent increase in the number of surgical procedures. The growing number of contracts and agreements between market players is additionally expected to supply a good range of growth opportunities for market players during the forecast period. Also, the high cost of intravascular temperature management systems is restraining.

Top Driver: Increasing admissions and growing prevalence of life-threatening diseases are driving the market growth in the temperature management market

Growth in healthcare facilities and favorable reimbursement scenarios has helped the worldwide market to grow. Furthermore, the increasing prevalence of cardiovascular diseases and the rising geriatric population also fuel the worldwide temperature management market. Conversely, high costs related to intravascular temperature management systems may restrain the worldwide market growth. Favorable government initiatives to modernize healthcare infrastructure including an increasing number of hospitals also are expected to positively impact the temperature management market growth. Product Approvals and new product launches are also expected to drive market growth over the forecast period. However, unfavorable healthcare reforms in the U.S. and high-cost temperature management systems may hamper the market growth. Emerging economies, including India, China, Brazil, and Mexico provide several market growth opportunities. In addition, agreements and contracts with the manufacturers and distributors of patient warming and cooling devices also offer avenues for temperature management market growth. Temperature management systems are used across an array of applications like acute care, perioperative care, newborn care, etc.

Intensive Care Units to Make Crucial Contribution to Growth of Temperature Management Market

As per the end-user, the industry can be segmented into ICU, emergency rooms, operating rooms, and neonatal ICU. ICU segment will witness significant growth during the forecast period due to the increasing number of gynecological, premature birth, and childbirth procedures coupled with the need for temperature management systems to reduce the risk of hypothermia in premature babies.

Based on type, the Surface patient warming segment accounted for the most important share of the patient warming systems market, the patient warming systems segment is split into surface warming systems, intravascular warming systems, and warming accessories. The surface warming systems segment accounted for the most important share of the patient warming systems market in 2019. In temperature management procedures, the number of surface warming procedures is more as compared to invasive cooling procedures thanks 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.

North America is expected to dominate the Market

The North American region is predicted to dominate the market within the forecast period thanks to the well-developed healthcare infrastructure, healthcare facilities, and high adoption of the latest technologies. Asia-Pacific region is additionally expected to point out attractive growth over the forecast period thanks to the presence of high growth opportunities for the unmet needs of the target population, and growing medical tourism in Asian countries.

favorable government initiatives to modernize healthcare infrastructure including the increasing number of hospitals is additionally expected to positively impact the temperature management market.

Players to Focus on Temperature Management Market

Key industry participants include 3M, GE Healthcare Ltd., Cincinnati Sub Zero Products Inc, Geratherm Medical AG, ZOLL Medical Corporation, and Stryker Corporation. Other vendors include Enthermics Medical Systems Inc., Augustine Temperature Management LLC, EMIT Corp., Ecolab Inc., and Belmont Instrument Corp. Companies focus on mergers & acquisitions, new product development, and geographical expansions as a part of their major growth strategies.

Scope of the Report

By Product Type

• Patient Warming Systems
• Surface Warming Systems
• Convective Warming Systems

By Application

• General Surgery
• Cardiology
• Neurology
• Pediatrics

By End-User

• Emergency room
• Operating Rooms
• Postoperative Care Units
• Preoperative Care Units

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders a definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.