LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global blood and fluid warming devices market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global blood and fluid warming devices market is likely to grow at a moderate pace during the forecast period. The sales of blood and fluid warming devices will increase worldwide due to the increase in the incidence of bypass surgeries, trauma incidents, diabetes, thyroid, orthopedics surgery, and drug and alcohol consumption that involve the use of these devices during treatment and for preventing complications like hypothermia and hemorrhage, which may be fatal.
Srinivas Sashidhar, a lead analyst from Technavio, specializing in research on orthopedics and medical devices sector, says, “Leading vendors are focusing on expansion into emerging countries such as India and China. The cost of any treatment procedure in India is much lower than in developed countries such as the UK, Germany, and the US.”
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The top three emerging trends driving the global blood and fluid warming devices market according to Technavio research analysts are:
Innovative business strategies for new product launches
Companies are focusing on the development of advanced technology, which can increase market adoption. For instance, LEADER HEALTHCARE developed portable blood and fluid warming devices for large and medium-sized end-users (hospitals, clinics, and ASCs) and small sized end-users (physicians’ offices).
“Since the product is portable, it can be used in ambulances and home care settings, which has increased its sales. The heating is performed via flameless hydrocarbon combustion process fueled with an isobutane mixture,” according to Srinivas.
Increasing partnerships and collaborative activities
The global blood and fluid warming devices market is saturated with the presence of many vendors. To maintain market share in this competitive environment, it becomes necessary for vendors to adopt strategic partnerships. A strategic alliance, including sales agreements and distributions agreements, helps manufacturers of blood and fluid warming devices and accessories to increase their presence in new untapped markets.
Adoption of disposable blood and fluid warming devices
Owing to the increase in a number of complications, end-users are increasingly preferring disposable blood and fluid warming devices. Disposable devices like blankets, heat-bands, heating pads provide effective results and are also cost-effective. These disposables are the major driving factor for the home care settings and point of care treatment which is the fast spreading trend.
In developed countries like the UK, Germany, and the US, the use of disposable devices is growing, which has reduced complications such as infections, and in developing countries, due to increasing awareness, the adoption of disposable warmers is increasing.
The key vendors are as follows:
- Becton Dickinson
- Smiths Medical
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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