The size of the Temperature Management Market in Latin America was valued at USD 291.53 Million in 2022. It is expected to grow at a CAGR of 2.29% and worth USD 326.47 billion by 2027.
Demand for Temperature management products is expected to be affected by the growing number of surgical procedures. For example, open heart surgeries require careful monitoring and maintenance of patients' temperature through blood cooling, which 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 patient temperature management devices.
More and more technologically advanced intravascular systems, an increasing number of conferences for physicians to spread awareness, greater research funding, and rising cases of chronic diseases are the primary factors driving this market's growth. Secondary factors include an increasing number of healthcare organizations adopting the temperature management system in multiple clinical applications, the prevalence of Nervous System and Cardiovascular Disorders, advancements in the development of mobile devices, rising cases of cancer. Also, growing birth rates have also given rise to the additional demand for temperature management devices for controlling the temperature in neonatal care.
Price pressures, product recalls, and high costs of IVTM systems are the primary restraints of this market.
This research report on the Latin America 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.
Geographically, it is second to last in terms of market share, and Brazil is the market leader in this region. It commands 12% of the Global Temperature Management Market Share.
Noteworthy Companies leading the Latin America 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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