The size of the Temperature Management Market in North America was worth USD 1014.25 Million in 2022 and is expected to grow at a CAGR of 2.97 %, to reach USD 1174.09 billion by 2027. North America region is expected to dominate the global temperature management market and is projected to hold the largest share during the forecast period. Increasing the volume of surgical procedures, growing elder people population, increasing occurrence rate of cardiac arrest, and nerve disorders are primarily expanding the market in North America. Moreover, advanced technological products like battery-powered devices and standalone bolster the region's temperature management market. U.S and Canada are the two major contributors to this regional market growth.
The decrease in blood loss during surgeries, low risk of neurological disorders posts cardiac arrests, robust post-surgery recovery, and reduced chances of SSIs are some of the benefits of temperature management devices. These benefits lessen healthcare costs by enhancing the healthcare infrastructure with the utilization of patient temperature management devices.
Numerous technologically advanced intravascular systems, rising number of conferences for physicians as a part of awareness campaigns, more research funding, and increasing cases of chronic diseases are the major factors driving this market's growth.
Secondary factors are rising number of healthcare centers using the temperature management system in numerous clinical applications, increasing incidences of Nervous System and Cardiovascular Disorders, development of mobile devices, cancer. Further, growing childbirths has also led to the additional demand for temperature management devices to be used for controlling the temperature in neonatal care. Price pressures, product recalls and high costs of IVTM systems are the key restraints of this market.
This research report has been segmented and sub-segmented into the following categories.
Based on the Application, the general surgery category is estimated to command the largest market share.
Regionally, it is the largest market capturing 40% of the Global Temperature Management Market share. North America accounts for the largest market share. Rising geriatric population, increasing cases of cardiac arrests and associated neurological disorders, and the broader availability of technologically advanced products are some of the factors attributable to the trend mentioned above.
The U.S. temperature management market is projected to hold the leading share in the North American market. It is majorly driven by the increasing demand for cosmetic surgeries, the acquisition of technologically advanced patient warming and cooling systems, and the rising number of government funds in improving healthcare infrastructure.
The Canadian temperature management market is next to the United States in performing well in North America. This country is blessed with favorable reimbursement policies, the existence of major key players, a frequent increase of chronic diseases, and low-cost surgeries, which are sharply accelerating the growth of the market during the analysis period.
Promising Companies leading the North 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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