Global Patient Temperature Management Market Set to Grow at Healthy CAGR

Posted by ganesha on December 20th, 2019

Global Patient temperature management Markets By Product (Patient Warming Systems, Patient Cooling Systems), Medical Specialty (General Surgery, Cardiology, Neurology, Pediatrics, Thoracic Surgery, Orthopedics, Others), End-User (Surgeons & Anesthesiologists, Nursing Staff, Paramedical Staff), Applications (Perioperative Care, Acute Care, Newborn Care, Military Applications, Physiotherapy, Medical/Surgical Units, Patient Transport, Chemotherapy, Others)                   

Market Definition: Global Patient Temperature Management Market

Patient temperature management can be defined as the solutions and product offerings where the optimal temperature is maintained through external sources such as devices, accessories, blankets, and others. These devices are segregated based on their functioning as some maintain the temperature through external cooling or warming, some regulate blood through a machine and other solution offerings.

Market Drivers

• Growing prevalence of chronic disorders globally is expected to foster growth of the market value
• Increasing number of expenditure incurred on research & developments resulting in innovations of technology is expected to drive the growth of the market
• Increasing levels of surgical procedures being conducted worldwide; this factor is expected to positively affect the market value

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Market Restraints

• Large costs associated with the devices & solutions restricting the growth of the market
• Growing incidences of various products being recalled due to their lack of effectiveness and side-effects; this factor is expected to restrain the growth of the market

Market Analysis: Global Patient Temperature Management Market

Global patient temperature management market is expected to rise to an estimated value of USD 6.93 billion by 2026 registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing incidences of adoption of the product from home-care solutions coupled with increasing incidences of cancer.

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Segmentation: Global Patient Temperature Management Market

By Product

• Patient Warming Systems
• Surface Warming Systems
• Convective Warming Systems
• Conductive Warming Systems
• Intravascular Warming Systems
• Warming Accessories
• Patient Cooling Systems
• Surface Cooling Systems
• Intravascular Cooling Systems
• Cooling Accessories

By Medical Specialty

• General Surgery
• Cardiology
• Neurology
• Pediatrics
• Thoracic Surgery
• Orthopedics
• Others

By End-Users

• Surgeons & Anesthesiologists
• Nursing Staff
• Paramedical Staff

By Applications

• Perioperative Care
• Operating Rooms
• Recovery Rooms
• Preoperative Care Units
• Acute Care
• Intensive Care Units (ICU)
• Emergency Rooms
• Coronary Care Units
• Neurological Care Units
• Burn Centers
• Cath Labs
• Newborn Care
• Delivery Suites
• Neonatal Intensive Care Units
• Postnatal Wards
• Military Applications
• Physiotherapy
• Medical/Surgical Units
• Patient Transport
• Chemotherapy
• Others

Key Developments in the Market:

In March 2019, Smiths Medical, Inc. announced the launch of a new patient temperature management product, a new “Level 1 convective warmer”. The product offers highly effective temperature management solutions while the patient is at a different level in a surgical procedure. The patient can undergo silent, straight-forward, secure temperature management with a variety of accessories coupled with the device.

In June 2018, Belmont Instrument, LLC announced that they had acquired “MTRE Advanced Technologies Ltd.”, the temperature management product division of Mennen Medical. This acquisition will result in extension of the product offerings available with Belmont Instrument, LLC as well as result in advancements in innovations of the technology associated with temperature management.

Competitive Analysis:

Global Patient temperature management Markets is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of patient temperature management market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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