The global temperature management market size is projected to be growing at a CAGR of 2.8% between 2020 to 2025. This market was worth USD 2.45 Billion in 2020 and is forecasted to value USD 2.82 Billion by 2025.
Temperature management systems are used in various applications, including emergency, perioperative, and neonatal care.
MARKET DRIVERS:
The demand for temperature management products is expected to be driven by the growing number of surgical procedures. For instance, open heart surgeries require careful monitoring and maintenance of patients' temperature through blood cooling, which in turn reduces the risk for perioperative and postoperative surgical complications.
Reduction in the loss of blood during surgeries, reduced risks of neurological disorders post cardiac arrests, rapid post-surgery recovery, and decreasing risks of SSIs are a few of the benefits of temperature management devices. These benefits further reduce the stay at hospitals, thereby reducing the healthcare costs by augmenting the healthcare infrastructure with the usage of patient temperature management devices.
The perioperative care category is projected to command the largest market share. 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 also buttress market growth.
More and more technologically advanced intravascular systems, an increasing number of conferences for physicians to spread awareness, more significant research funding, and rising cases of chronic diseases are the primary factors driving the growth of this market. Secondary factors include an increasing number of healthcare organizations adopting the temperature management system in multiple clinical applications, the prevalence of Nervous Systems and Cardiovascular Disorders, advancements in the development of mobile devices, rising cases of cancer. Growing birth rates have also given rise to an additional demand for temperature management devices to control neonatal care temperature.
MARKET RESTRAINTS:
The high cost associated is one of the critical limiting factors in this temperature management market. Surgery is expensive due to the use of these management systems, such as intravascular methods. The cost per disposable component also increases. For example, Arctic 5000 and its related consumables are expensive and require a group of professionals to handle medical devices. As a result, price pressures and a shortage of trained professionals hinder the growth of the global temperature management market.
Impact of COVID-19 on the global temperature management market:
Global debacle SARS-COV-2 had been identified in China. SARS-COV-2 is an infectious disease that transmits quickly from person to person. In the battle against the novel coronavirus, a nationwide lockdown had been imposed, a ban on transportation was made to stop the migrants from foreign countries. The Temperature management market witnessed a growth decline because the temperature management products supply chain was disrupted due to no exchange of export and import activities had performed. Postponement of elective surgeries and strict government regulations had negatively impacted the market growth at the earlier period of the Pandemic.
In efforts made to minimize the strain on the healthcare system, the government and authorities pursue to ensure the availability of resources for the COVID-19 patients has shown a specific rise. Temperature management devices have been widely used in the prevention of neurological diseases and novel coronavirus. Various governments have provided guidelines on elective surgeries; the market is expected to retain its growth during the forecast period.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
|
Segments Analysed |
By Product Type, Application, End-User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global temperature management market has been segmented and sub-segmented based on the product type, application, end-user, and region.
Temperature Management Market – By Product Type:
Based on 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.
With the growing demand for these systems in a hospital environment, the patient cooling systems segment of the market is expected to contribute to market growth actively. Contracts and the number of agreements between the major players (manufacturers and distributors) provide growth opportunities over the forecast period. Also, the increasing prevalence of cardiovascular disease and senile disease drives the development of the temperature management market.
Temperature Management Market - By Application:
Based on the Application, the general surgery category is estimated to command the largest market share.
Temperature Management Market - By End User:
Temperature Management Market - By Region:
Geographically, North America is supposed to dominate the global temperature management market during the forecast period due to the advanced adoption of developed healthcare infrastructure, healthcare facilities, and new technologies.
The Asia-Pacific region is also expected to show attractive growth over the forecast period due to the high growth opportunities for the target population's unmet needs and medical tourism development in Asian countries. Coupled with the growing number of hospitals, the government's favorable modern medical infrastructure initiatives are also expected to positively impact the global temperature management market.
KEY MARKET PLAYERS:
Some of the major companies dominating the global 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 37 Company (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.).
Large companies are taking initiatives such as mergers and acquisitions, new product development, and geographic expansion to meet patients' growing needs.
In March 2016, ZOLL Medical Corporation, a Japanese subsidiary of Asahi Kasei ZOLL Medical Corp., announced approval from the Japan Pharmaceuticals and Medical Devices Agency (PMDA). The growing demand for temperature management systems drives the growth of the global temperature management market with the introduction of multiple surface heating and cooling systems.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 Product
5.1.1 Introduction
5.1.2 Patient Warming Systems
5.1.2.1 Surface Warming Systems
5.1.2.1.1 Convective Warming Systems
5.1.2.1.2 Conductive Warming Systems
5.1.2.2 Intravascular Warming Systems
5.1.2.3 Warming Accessories
5.1.3 Patient Cooling Systems
5.1.3.1 Surface Cooling Systems
5.1.3.2 Intravascular Cooling Systems
5.1.3.3 Cooling Accessories
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2 Application
5.2.1 Introduction
5.2.2 Perioperative Care
5.2.2.1 Operating Rooms
5.2.2.2 Recovery Rooms
5.2.2.3 Preoperative Care Units
5.2.3 Acute Care
5.2.3.1 Intensive Care Units
5.2.3.2 Emergency Rooms
5.2.3.3 Coronary Care Units
5.2.3.4 Neurological Care Units
5.2.3.5 Burn Centers
5.2.3.6 Cath Labs
5.2.4 Military Applications
5.2.5 Newborn Care
5.2.5.1 Delivery Suites
5.2.5.2 Neonatal Intensive Care Units
5.2.5.3 Postnatal Wards
5.2.6 Physiotherapy
5.2.7 Medical/Surgical Units
5.2.8 Patient Transport
5.2.9 Chemotherapy
5.2.10 Other Applications
5.2.11 Y-o-Y Growth Analysis, By Application
5.2.12 Market Attractiveness Analysis, By Application
5.2.13 Market Share Analysis, By Application
5.3 Medical Specialty
5.3.1 Introduction
5.3.2 General Surgery
5.3.3 Cardiology
5.3.4 Neurology
5.3.5 Pediatrics
5.3.6 Thoracic Surgery
5.3.7 Orthopedics
5.3.8 Other Medical Specialties
5.3.9 Y-o-Y Growth Analysis, By Medical Specialty
5.3.10 Market Attractiveness Analysis, By Medical Specialty
5.3.11 Market Share Analysis, By Medical Specialty
5.4 End User
5.4.1 Introduction
5.4.2 Surgeons and Anesthesiologists
5.4.3 Nursing Staff
5.4.4 Paramedical Staff
5.4.5 Y-o-Y Growth Analysis, By End User
5.4.6 Market Attractiveness Analysis, By End User
5.4.7 Market Share Analysis, By End User
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Application
6.1.3.4 By Medical Speciality
6.1.3.5 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Application
6.1.4.4 By Medical Speciality
6.1.4.5 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Application
6.1.5.4 By Medical Speciality
6.1.5.5 By End User
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1 3M Company (U.S.)
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Medtronic plc (Ireland)
8.3 Smiths Medical (U.K.)
8.4 C.R. Bard Inc. (U.S.)
8.5 Cincinnati Sub-Zero Products
8.6 Inc. (U.S.)
8.7 Geratherm Medical AG (Germany)
8.8 Inspiration Healthcare Group plc (U.K.)
8.9 Stryker Corporation (U.S.)
8.10 The 37Company (Netherlands)
8.11 ZOLL Medical Corporation (U.S.)
8.12 GE Healthcare (U.S.)
8.13 Becton, Dickinson and Company (U.S.)
8.14 DRÄGERWERK AG & CO. KGAA (Germany)
8.15 Ecolab (U.S.)
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
Appendix
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