The Temperature Management Market size in Europe was valued at USD 766.61 Million in 2022 and will reach USD 884.40 Million by 2027, growing at a CAGR of 2.9% from 2022 to 2027.
Reduced risks of neurological disorders post cardiac arrests, reduction in blood loss during surgeries, decreasing risks of SSIs, and rapid post-surgery recovery are a few of the benefits offered by temperature management devices. These benefits reduce the stay at hospitals, reducing the healthcare costs by increasing the healthcare infrastructure with the utilization of patient temperature management devices.
Demand for Temperature management products is expected to be influenced by the rising number of surgical procedures. For instance, careful monitoring and maintenance of patients' temperature through blood cooling reduces the risk for perioperative and postoperative surgical complications in open-heart surgeries.
The rising number of conferences for physicians to spread awareness, more and more technologically advanced intravascular systems, rising cases of chronic diseases, and greater research funding are the primary factors fuelling this market's growth. Secondary factors include the prevalence of Nervous System and Cardiovascular Disorders, an increasing number of healthcare organizations adopting the temperature management system in multiple clinical applications, rising cases of cancer, and advancements in mobile devices' development. Further, additional demand for temperature management devices for controlling neonatal care temperature has arisen due to the growing birth rates.
High costs of IVTM systems, price pressures, and product recalls are the key challenges of this market.
This research report on the European Temperature Management Market has been segmented and sub-segmented into the following categories:
By Product Type:
By End User:
Based on the product type, the 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 the market growth.
Based on application, the growing number of surgical procedures performed worldwide is the key factor driving this market segment. Further, technological advancements, a rising number of product launches for the perioperative care segment, and an increasing number of partnerships between major market players and hospitals are also buttressing market growth.
Regionally, it is second largest in terms of market share capturing 30% of the Global Temperature Management Market share. Europe is the second-largest in terms of market share. With the rising medical tourism trend in Hungary and Poland, cheaper surgical treatments are primary factors alluring patients from North America to travel to European countries for undergoing elective surgical procedures. These are primarily contributing to the development of the European Temperature Management Market.
Key market participants leading the Europe Temperature Management Market Profiled in the Report 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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