DUBLIN--(BUSINESS WIRE)--The "Temperature Management Systems Market by Product (Warming Systems (Surface Warming), Cooling Systems), Application (Perioperative Care, Acute Care, Newborn Care), Medical Speciality (Cardiology, Neurology, Paediatrics, Orthopaedic) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The temperature management market is projected to reach USD 3.3 billion by 2026 from USD 2.7 billion in 2021, at a CAGR of 3.6% during the forecast period.
The growth in this market is largely driven by 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 also expected to offer a wide range of growth opportunities for market players during the forecast period. However, the high cost of intravascular temperature management systems is restraining the growth of this market
Patient Warming Systems segment accounted for the largest share of the temperature management systems market, by medical specialty, in 2020
Based on the product, the temperature management market is segmented into patient warming and cooling systems. The patient warming systems segment accounted for the largest share of the temperature management market in 2020. The rising demand for these systems in diverse hospital settings and the increasing adoption rate of invasive warming in surgical procedures are the major factors driving the growth of this segment.
Acute Care segment to grow at the highest CAGR of the temperature management systems market, by application in 2020
Based on applications, the temperature management market is segmented into perioperative care, acute care, newborn care, and other applications. Among these, the acute care segment is expected to grow at the highest CAGR during the forecast period. As acute care encompasses specialized care and the support given to patients during emergencies or after undergoing surgeries in hospitals.
North America will continue to dominate the temperature management systems market during the forecast period
In 2020, North America accounted for the largest share of the temperature management market, followed by Europe. Factors such as the large volume of surgical procedures, growth in the geriatric population, rising incidence of cardiac arrests and neurological disorders, availability of technologically advanced products, and the presence of major players in the US are driving the growth of the temperature management market in North America. On the other hand, the market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period. This is primarily attributed to growing demand for aesthetic and medical surgeries, rising incidence of cardiac arrests and CNS disorders, government efforts to increase access to elective surgeries, and improving healthcare infrastructures are the major factors supporting the growth of the Asia Pacific temperature management market
Market Dynamics
Drivers
- Increasing Incidence of Chronic Conditions
- Rising Number of Surgical Procedures
- Increasing Number of Hypothermia Cases
- Growing Number of Trauma Cases
Restraints
- High Cost of Intravascular Temperature Management Systems
Opportunities
- Growing Number of Contracts and Agreements Between Market Players
Challenges
- Sustainability of Players in the Highly Competitive Market
Companies Mentioned
- 3M Company
- Adroit Medical Systems
- Asahi Kasei Corporation (Zoll Medical Corporation)
- Attune Medical
- Augustine Surgical, Inc.
- Becton, Dickinson and Company
- Belmont Medical Technologies
- Biegler Gmbh
- Dragerwerk AG & Co. Kgaa
- Ecolab
- Encompass Group, LLC
- Enthermics, Inc.
- GE Healthcare
- Gentherm Incorporated
- Geratherm Medical Ag
- Hirtz & Co. Kg.
- Inspiration Healthcare Group plc
- Istanbul Medikal Ltd.
- Life Recovery Systems
- Medcare Visions
- Medtronic plc
- Smiths Medical
- Stryker Corporation
- The Surgical Company
- Vyaire Medical
For more information about this report visit https://www.researchandmarkets.com/r/5tk52s
