Temperature Management Market – Set to Reach $3.2 Billion | Industry Segments, Opportunities, Growth, Size, Key Players Analysis

Pune, India, 2020-Sep-29 — /EPR Network/ —

Factors such as 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 temperature management market players during the forecast period. However, the high cost of intravascular temperature management systems is restraining the growth of this market.

According to the latest market research by MarketsandMarkets, “The temperature management market is projected to reach USD 3.2 billion by 2025 from USD 2.5 billion in 2020, at CAGR of 5.1% during the forecast period.”

Current Market Opportunities:

1. Growing number of contracts and agreements between market players
2. Increasing number of surgical procedures
3. Increase in the incidence of chronic conditions

Market Size Estimation:

The study involved four major activities to estimate the current size of the temperature management systems market. Both top-down and bottom-up approaches were used to estimate and validate the total size of the temperature management systems market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

1. The key players in the industry and markets have been identified through extensive secondary research.

2. The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.

3. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

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By type, the patient warming systems segment is divided into surface warming systems, intravascular warming systems, and warming accessories. The surface warming systems segment accounted for the largest share of the patient warming systems market in 2019. In temperature management procedures, the number of surface warming procedures are more as compared to invasive cooling procedures due to the increasing adoption rate of surface warming systems in surgical procedures such as orthopedic surgeries, gynecology and obstetrics procedures, gastrointestinal procedures, and general surgeries.

Based on the facility, the acute care segment is classified into intensive care units (ICUs), emergency rooms, coronary care units (CCUs), neurological care units, burn centers, and cath labs. In 2019, the ICUs segment held the largest share of the temperature management market for acute care. This is attributed to the large number of ICU admissions.

Key Questioned Answered in Report:

# Who are the key players in the market and which strategies have they pursued?

# What does the competitive landscape in this market look like?

# What is the strategic analysis of different geographical regions?

# What are the different market opportunities for stakeholders?

Geographical Growth Analysis of Temperature Management Market:

North America, comprising the US and Canada, accounted for the largest share of the temperature management market in 2019. The large volume of surgical procedures performed in North American countries is a major factor driving market growth in this region. Growth in the geriatric population, the rising incidence of cardiac arrests and neurological disorders, and the availability of technologically advanced products such as standalone and battery-powered devices are the other factors supporting the growth of the temperature management market in North America. The market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period.

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Recent Developments in Temperature Management Market:

1. In 2019, Smiths Medical (US) launched Level 1 convective warmer.

2. In 2017, BD and Company (US) and C. R. Bard (US) entered into a definitive agreement under which BD acquired Bard. Through this acquisition, BD entered the temperature management market.

3. In 2017, Drägerwerk (Germany) launched Incu Warmer Babyleo TN500.

Key Players in Temperature Management Market:

The major players operating in this market are 3M Company (US), Medtronic (Ireland), Smiths Medical (US), Stryker (US), ZOLL Medical (a subsidiary of Asahi Kasei) (Japan), Smiths Medical (US), Gentherm (US), Becton, Dickinson and Company (US), Drägerwerk (Germany), Ecolab (US), GE Healthcare (US), Geratherm Medical (Germany).