Temperature Management Systems Market Analysis and Forecast to 2031: By Product (Patient Warming Systems {Conventional Warming System, Surface Warming System, Intravascular Warming System}, Patient Cooling Systems {Conventional Cooling System, Intravascul

Temperature Management Systems Market Analysis and Forecast to 2031: By Product (Patient Warming Systems {Conventional Warming System, Surface Warming System, Intravascular Warming System}, Patient Cooling Systems {Conventional Cooling System, Intravascular Cooling System, Surface Cooling System}, Services), By Application (Cardiology, Orthopedics, Neurology), By End-use (Operating Rooms, Intensive Care Units, Emergency Rooms), and Region

The global temperature management systems market was valued at USD 2.5 Billion in 2021 and it is anticipated to grow up to USD 3.8 Billion by 2031, at a CAGR of 4.4% during the forecast period.

Temperature management is a treatment carried out to maintain specific body temperature of a patient for specific duration. It improves health conditions and reduces risks of tissue injuries occurring due to lack of blood flow. The prevention of brain injuries and improvement in brain function following a cardiac arrest is possible using temperature management techniques. It also prevents secondary neurological injuries after central nervous systems trauma in animals.

Market Trends and Drivers

Increase in the incidence of chronic disorders will boost the overall market growth. Globally, there has been an increase in the incidence of chronic conditions, such as strokes, cardiac arrests, and neurological diseases such as traumatic brain injury. Several research studies indicate that survivors of cardiac arrests can suffer from devastating neurological impairments. Temperature management devices are widely used in the prevention of neurological damage after cardiac arrests. The use of mild therapeutic hypothermia is considered to improve neurological outcomes after cardiopulmonary resuscitation. Thus, the increasing incidence of chronic diseases is expected to drive the demand for temperature management systems.

Market Restraints and Challenges

High cost of intravascular temperature management systems may hampers the industry growth. Intravascular temperature management systems provide rapid, safe, and effective management of the core body temperature of patients. However, the cost of these systems and accessories is significantly higher than that of noninvasive systems and accessories. This may restrain the temperature management systems industry expansion.

Global Temperature Management Systems Market Segmental Overview

The report analyses the global temperature management system market based on product, application, end-use, and region.

Global Temperature Management Systems Market by Product

Based on product, it is segmented into patient warming systems and patient cooling systems. Patient warming system further sub-segmented into conventional warming system, surface warming system, and intravascular warming system. Whereas patient cooling systems sub-segmented into conventional cooling system, intravascular cooling system, and surface cooling system. Among these patient warming system segment is likely to account for the significant market share during the forecast period. 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 orthopaedic surgeries, gynaecology and obstetrics procedures, gastrointestinal procedures, and general surgeries.

Global Temperature Management Systems Market by Application

Based on application, it is segmented into cardiology, orthopedics, neurology and others. Out of these the cardiology segment is likely to dominate the market during the forecast period owing to globally cardiovascular along with musculoskeletal operations are done majorly in most of the regions. This raises the demand for temperature management devices usage in hospital rooms, intensive care units (ICUs), and other areas. Other factors such as rising prevalence of cardiovascular diseases along with development of technologically advanced intravascular systems for disease management will spur the segmental growth during the forecast period.

Global Temperature Management Systems Market by End-use

Based on end-use, it is segmented into operating rooms, intensive care units, emergency rooms. The intensive care unit (ICU) segment is likely to dominate the market during the forecast period. This growth is attributed to the large number of ICU admissions. The increase in the severity of illnesses among hospital patients is contributing to the increase in ICU admissions; consequently. Such factors driving the demand for temperature management systems used in these settings is anticipated to boost the segmental as well as market growth.

Geographical Analysis of Global Temperature Management Systems Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is accounted for the majority of market share during the forecast period. 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 North America temperature management market growth.

Major Players in the Global Temperature Management Systems MarketCOVID-19 Impact

A worldwide emergency has been caused by the COVID-19 pandemic. The COVID-19 has resulted in significant disruption to business and economic activity globally and is expected to show short-term impacts on the temperature management product business. Temperature management products for perioperative care are expected to be impacted to some extent due to the postponement of elective surgeries caused by COVID-19, as governments and authorities seek to ensure the availability of resources for COVID-19 patients. In an effort to reduce the strain on the healthcare system, decrease disease transmission, and conserve personal protective equipment (PPE), various governments have provided guidelines on elective surgeries. For instance, as of March 18, 2020, the US CMS announced that all elective surgeries, non-essential medical, surgical, and dental procedures would be delayed.

Recent Developments

• In May 2022, The Surgical Company announced partnership with Duomed Group develops, produces and globally distributes specialist medical equipment for the prevention of hypothermia and the warming of patients undergoing surgery.
• In March 2022, BD launched a Scientific Office in Egypt to bolster its movement on enhancing patient safety and healthcare workers safety in the MENA region.
• In May 2021, ZOLL Medical Corporation (Japan) and Global Healthcare SG Sign exclusive agreement for distribution of portable targeted temperature management system in Asia Pacific.
• In March 2019, Smiths Medical (US) launched Level 1 convective warmer.

Frequently Asked Questions

Q1. How big is the temperature management systems market?Ans. The global temperature management systems market size was USD 2.5 Billion in 2021 and is anticipated to reach USD 3.8 Billion in 2031, growing at a rate of 4.4% from 2022 to 2031.Q2. What is the temperature management systems market growth rate?Ans. The growth rate of the temperature management systems market is 4.4%.Q3. Which region holds a major market share for the temperature management systems market?Ans. North America holds a major market share of the temperature management systems market in 2021.Q4. Which segment accounted for the largest temperature management systems market share?Ans. By end user, the hospitals segment accounted for the largest temperature management systems market share.Q5. Who are the key players in the temperature management systems market?Q6. What are the factors driving the temperature management systems market growth?Ans. The major factors driving the growth of the market are the increasing aging population along with the development of technologically advanced intravascular systems.Q7. What are the key growth strategies of temperature management systems market players?Ans. The key growth strategies of temperature management systems market players are product launch and product approval.Q8. Which region will provide more business opportunities for the temperature management systems market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the temperature management systems market during the forecast period.

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