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
Breakdown of supply-side primary interviews, by company type, designation, and region:
- By Company Type: Tier 1 (40%) , Tier 2 (30%), and Tier 3 (30%)
- By Designation: C-level (27%), Director-level (18%), and Others (55%)
- By Region: North America (50%), Europe (20%), AsiaPacific (15%), and Rest of the World (15%)
This report studies the temperature management systems market based on product, application, medical specialty and region. The report also analyzes factors (such as drivers, restraints and opportunities) affecting market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total temperature management systems market. The report forecasts the revenue of the market segments with respect to four major regions.
Reasons To Buy the Report:
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on temperature management systems offered by the top 25 players in the temperature management systems market. The report analyzes the temperature management systems market by product, application, medical specialty and region.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various securement devices across key geographic regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the temperature management systems market
- Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players in the temperature management systems market