The Global Temperature Management market size was around USD 2.35 billion in 2016. It is expected to grow at a CAGR of 2.5 % to reach USD 2.66 billion by 2021.
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According to the report Global Temperature Management Market, published by Market Data Forecast, the Market size was around USD 2.35 billion in 2016. It is expected to grow at a CAGR of 2.5 % to reach USD 2.66 billion by 2021.Demand for Temperature management products is expected to be affected by the growing number of surgical procedures.
For example, open heart surgeries require careful monitoring and maintenance of patients' temperature through blood cooling which in turn reduces the risk for perioperative and postoperative surgical complications.
Reduction in the loss of blood during surgeries, reduced risks of neurological disorders post cardiac arrests, rapid post-surgery recovery and decreasing risks of SSIs are few of the benefits offered by temperature management devices.
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More and more technologically advanced intravascular systems, increasing number of conferences for physicians to spread awareness, greater research funding and rising cases of chronic diseases are the primary factors driving the growth of this market. Secondary factors include increasing number of healthcare organizations adopting the temperature management system in multiple clinical applications, prevalence of Nervous System and Cardiovascular Disorders, advancements in the development of mobile devices, rising cases of cancer.
In addition, growing birth rates has also given rise to additional demand for temperature management devices for controlling temperature in neonatal care.Price pressures, product recalls and high costs of IVTM systems are the primary restraints of this market.
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The global Temperature Management market can be categorized into four categories: by product, by application, by medical specialty and by end user. On the basis of application, Temperature Management market is classified into Perioperative Care (Operating Rooms, Recovery Rooms, and Preoperative Care Units), Acute Care (Intensive Care Units, Emergency Rooms, Coronary Care Units, Neurological Care Units, Burn Centres and Cath Labs), Military Applications, new-born Care (Delivery Suites, Neonatal Intensive Care Units and Postnatal Wards), Physiotherapy, Medical/Surgical Units, Patient Transport, Chemotherapy and Other Applications.
In 2017, the perioperative care category is projected to command the largest market share. The growing number of surgical procedures performed worldwide is the key factor driving this market segment.
Further, technological advancements, rising number of product launches for the perioperative care segment and increasing number of partnerships between major market players and hospitals are also buttressing market growth. If we go by product, Temperature Management market is segmented into Patient Warming Systems (Surface Warming Systems (Convective Warming Systems and Conductive Warming Systems), Intravascular Warming Systems and Warming Accessories) and Patient Cooling Systems (Surface Cooling Systems, Intravascular Cooling Systems and Cooling Accessories).
In 2017, patient warming systems category is likely to command the largest market share. The growing demand for these systems in diverse hospital settings is the primary factor fuelling market growth.
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Further, on the basis of medical specialty the market can be categorized into General Surgery, Cardiology, Neurology, Paediatrics, Thoracic Surgery, Orthopaedics and others. In 2017, the general surgery category is estimated to command the largest market share.
The growing incidence of colorectal cancer, GI disorders, and endocrine disorders are the key factors driving this market. Last but not the least, on the basis of end user the market is segmented into Surgeons and Anaesthesiologists, Nursing Staff and Paramedical Staff.
By geography, the global Temperature Management market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Presently, North America accounts for the largest market share closely followed by Europe while Asia Pacific has the highest CAGR.
Major companies in the Temperature Management market are 3M Company (U.S.), Smiths Medical (U.K.), Medtronic plc (Ireland), C.R. Bard Inc. (U.S.), Cincinnati Sub-Zero Products, Inc. (U.S.), Geratherm Medical AG (Germany), Inspiration Healthcare Group plc, (U.K.), Stryker Corporation (U.S.), The 37Company (Netherlands), ZOLL Medical Corporation (U.S.), GE Healthcare (U.S.), Becton, Dickinson and Company (U.S.), DRÄGERWERK AG & CO. KGAA (Germany), and Ecolab (U.S.)
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