Patient Temperature Management Market to Witness Huge Growth at 8.8% CAGR During the Forecast Period 2023-2030

Posted on 2023-04-25 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Apr 25, 2023 — /EPR Network/ —

Patient Temperature Management Industry Overview

The global Patient Temperature Management Market size is expected to reach USD 6.9 billion by 2030, registering a CAGR of 8.8% according to a new report by Grand View Research, Inc. Rising number of surgeries is anticipated to accelerate the demand for temperature management devices. For instance, open heart surgeries require lowering of patient’s body heat through blood cooling, which helps in reducing the risk of post and perioperative surgical complications.

Rising number of surgeries are undertaken, amid growing prevalence of cardiac arrest and other chronic cardiac diseases. Hence, this raises the need for the patient temperature management, in order to avoid the adverse effects on brain. For more effective results, patient warming systems are also used for cancer patients as adjuncts with chemotherapy and radiation therapy. Moreover, in neonatal care, newborns are likely to experience temperature fluctuations and hence, they are kept in incubators to maintain their normal body temperature. As a result, the aforementioned factors are contributing to the high demand for temperature monitoring devices.

There is a growing need for modern temperature management systems along with rising demand for the conventional warming and cooling devices. Introduction of a wide range of surface warming and cooling systems by major market players is expected to positively impact the market during the forecast period. The blood & fluid temperature management devices have also evolved in recent times and are applied through a catheter by circulating warm or cool saline in the patient’s body.

Patient Temperature Management Market Segmentation

Grand View Research has segmented the global patient temperature management market based on the product, application, end use, and region:

Based on the Product Insights, the market is segmented into Patient Warming Systems and Patient Cooling Systems.

Patient warming systems dominated the market in 2021 with 72.0%share owing to their frequent usage during surgeries, involving the use of general anesthesia. General anesthesia provided before surgery lowers the patient’s body temperature.
Patient cooling systems are expected to show lucrative growth during the forecast period. This is due to the rising number of cardiac surgeries and the requirement of low temperature for eliminating the adverse neurologic outcomes in addition to related brain trauma injuries.

Based on the Application Type Insights, the market is segmented into Surgery, Cardiology, Pediatrics, Neurology, Orthopedic Surgery and Others.

Surgery held the largest, more than 31.0% market share for the application segment, in 2021. The primary factors supporting this growth include rising number of cardiac and gynecology surgeries. Temperature management systems are also largely used in pre-, post-, and perioperative surgical procedures. In addition, these devices help address surgical site complications.
Cardiology segment is expected to witness significant growth during the forecast period due to the increasing prevalence of cardiovascular diseases. According to The Heart Foundation, in the U.S. every year around 720,000 people suffer from the heart attack.

Based on the End-Use Insights, the market is segmented into Operating Room, Neonatal ICU, Emergency Room, ICUs and Others.

Operating room segment generated largest revenue share in 2021 and is expected to witness a lucrative growth rate of more than 9.7% during the forecast period.
Neonatal ICU also held significant revenue share, the growth of which can be attributed to rising number of childbirth and premature deliveries, requiring huge support with temperature management devices in neonatal ICUs. Moreover, there is a risk of hypothermia in premature infants as they are exposed to cold temperature in neonatal ICUs. Hence, they are kept warm using patient warming systems in neonatal ICUs.

Patient Temperature Management Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

The major companies are adopting initiatives such as mergers & acquisitions, new product developments, and geographical expansions in order to cater to the rising needs of the patients.

Some prominent players in the global Patient Temperature Management market include

Stryker Corporation
ZOLL Medical Corporation
Cincinnati Sub-Zero Products, LLC
Medtronic, Inc.
3M Company
Bard Medical, Inc.
The 37Company

Order a free sample PDF of the Patient Temperature Management Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Matched content

Editor’s pick