Global Temperature Management Systems Market- Industry Trends & Forecast Report 2027 - PDF document

Global Temperature Management Systems Market Continues to Stabilize with the Overall Market Growing at a CAGR of 6.4% Global Temperature Management Systems Market - Industry Trends & Forecast Report 2027 Summary Global Temperature Management Systems Market, By Product Type (Patient Warming Systems and Patient Cooling Systems), By Application (Cardiology, Orthopedics, Neurology, and Others), By End - User (Operating Roo ms, Intensive Care Units, Emergency Rooms, and Others), By Region (North America, Europe, Asia - Pacific (APAC), Latin America (LATAM), Middle - East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017 - 2027 A recent study conducted by the strategic consulting and market research firm BlueWeave Consultin g revealed that the global temperature management systems market was worth USD 3.5 bill ion in the year 2020. The market is estimated to grow at a CAGR of 6.4%, earning revenue of around USD 5.2 billion by the end of 2027. The market is predicted to grow throughout the forecast period, owing to an increase in the number of surgical procedures worldwide, as well as the introduction of sophisticated technologies and medical research and development . Global Temperature Management Systems Market - Industry Trends & Forecast Report 2027 The global temperature management systems market was worth US D 3.5 billion in 2020 and is further projected to reach USD 5.2 billion by the year 2027, growing at a CAGR of 6.4% in the forecast period (2021 - 2027). The anticipated growth in revenue can be attributed to rising cases of chronic diseases, along with the expanding demand for surgical procedures across the globe. Furthermore, with View report Press release Sample report Global Temperature Management Systems Market Continues to Stabilize with the Overall Market Growing at a CAGR of 6.4% new market participants offering a diverse range of products, the global temperature management systems market is likely to grow further during the forecast period. Global Temperature Management Systems Market - Overview Temperature management devices are instruments or tools which are used to manage and regulate human body temperature. A person's body temperature is a reliable indicator of his or her physical well - being. Temperature monitoring is important in healthcare settings as it affects various physiological parameters in patients. Thus, temperature monitoring devices are mainly used inside recovery rooms, operation theaters, and othe r critical spaces in healthcare facilities. After surgery or operation, the human body is in an extremely vulnerable stage of recovery, where it is unable to maintain body temperature on its own. As a result, artificial devices are used to regulate the tem perature. Global Temperature Management Systems Market Forecast and Trends Growth Drivers Growing Number of Medical Procedures Worldwide The number of surgeries and other medical procedures like biopsy, endoscopy, reconstructive surgeries, etc. all around the world is rising rapidly. Giving anesthesia to patients before surgery is a critical step in minimizing pain. Anesthesia, on the other hand, drastically lowers body temperature, exposing patients to the risk of hypothermia. Therefore, hospitals install temperature management systems to minimize the risk and avoid pre - or post - surgical complications. This is pulling a significant demand for temperature management systems. Rising Prevalence of Cardiovascular and Other Chronic Conditions The increasing prevalence of cardiovascular diseases and cancer are contributing significantly to the demand for temperature management systems. According to the National Institutes of Health, adults over the age of 65 are considerably more likely to have a heart attack, develop coronary heart disease, or suffer from heart failure. Heart disease is also a major cause of disability, limiting activities and lowering the quality of life for millions of elderly people. Low body temperature increases the risk of heart attacks and strokes. A drop in the body temperature also increases the risk of multiplication of cancer cells too. Therefore, radiation therapy and chemotherapy are frequently combined with controlling body temperature as a treatment. Restraints Exp ensive Temperature Management Systems will hinder the Market Growth Temperature management systems are highly effective in maintaining body temperature during surgeries and other medical procedures. However, such devices are very expensive, and not every h ospital can afford to install these. These systems are also costlier than the other noninvasive systems available in Global Temperature Management Systems Market Continues to Stabilize with the Overall Market Growing at a CAGR of 6.4% the market. Therefore, healthcare facilities often opt for the latter option due to a shortage of sufficient funds. This is especially cruc ial for the emerging economies as they are still on their way to development and prefer choosing cheaper options. Impact of Covid - 19 on Global Temperature Management Systems Market The global temperature management systems market was devastated by the Covi d - 19 outbreak. Temperature management systems are essentially used in healthcare facilities. However, in the light of coronavirus, all the elective and non - emergency services were postponed to prevent the transmission of the virus and decrease the number o f people visiting hospitals. This move was also made to ensure that all healthcare experts and resources are focused on treating people infected by Covid - 19. Because a large number of surgeries were canceled, the market for temperature management systems p lummeted significantly. Global Temperature Management Systems Market - By Type Based on type, the global temperature management systems market is segmented into patient warming systems and patient cooling systems. Patients warming systems accounted for the largest market share in the year 2020 and is likely to maintain its dominance even during the forecast period. The segment is thriving because of its high usage in maintaining body temperature during surgeries. Surgeries involve the use of anesthesia, whi ch significantly drops the body temperature. Therefore, maintaining body temperature during and post - surgery is very crucial to avoid any chances of perioperative hypothermia. On the other hand, patient cooling systems are expected to have a surge in their market demand in the forecast period. Global Temperature Management Systems Market - By Application Based on application, the global temperature management systems market is categorized into cardiology, orthopedics, neurology, and others. The Cardiology s egment dominated the temperature management systems market due to the rising prevalence of cardiovascular disease and increasing geriatric population all around the world. The prevalence of cardiovascular diseases is rising at an alarming rate, even in the younger population. As a result, more and more patients are approaching hospitals for cardiac surgeries, due to which the demand for temperature management systems is proliferating. Global Temperature Management Systems Market - By End - User Based on end - u ser, the market is segmented into operating rooms, intensive care units, emergency rooms, and others. The operating room segment held the largest market share and is further expected to flourish during the forecast period. Because surgeries necessitate a s pecified body temperature to avoid complications, particularly during the pre - and post - period, this segment is gaining traction in the market. On the other hand, intensive care units (ICU) have also witnessed a considerable surge in the demand for tempera ture management systems. Global Temperature Management Systems Market Continues to Stabilize with the Overall Market Growing at a CAGR of 6.4% Global Temperature Management Systems Market - Regional Insights Geographically, the global temperature management system is divided into North America, Europe, Asia - Pacific, Latin America, Middle - East & Africa. North America accou nted for the largest market share in the year 2020. Its rapid expansion can be attributed to an increase in the number of surgeries performed, rising cardiovascular disease rates across all demographics, and the rising health expenditure by the general pop ulace. Furthermore, the favorable reimbursement policies are motivating people into getting more surgeries which are driving the growth of the temperature management systems. Competitive Landscape The leading market players of the temperature managemen t systems market are Vyaire Medical, Adroit Medical Systems, Gentherm Incorporated, Augustine Surgical, Inc., Inspiration Healthcare Group PLC, 3M Company, Becton, Dickinson And Company, Smiths Medical, Ecolab, Zoll Medical Corporation, Stryker Corporation , Attune Medical, Adroit Medical Systems, Biegler GMBH, Encompass Group, LLC, and other prominent players. The adoption of competitive strategies like mergers, acquisitions, partnerships, product development, and launches is also very prominent in this mar ket. Additionally, the companies are majorly focusing on geographical expansion to establish themselves as key market players. Recent Developments l In June 2021, Vivalink, a connected healthcare solutions provider best recognized for its medical wearable sensor data solutions, released an innovative temperature and cardiac ECG (electrocardiogram) monitor. The sensors are specifically developed for usage in remote and ambulatory circumstances, such as remote patient monitoring, decentralized clinical trial s, virtual hospitals. It has been adopted by over 100 healthcare application partners and customers in 25 countries. l In December 2020, Attune Medical, a US - based medical device company published their first major peer reviewed clinical journal which evaluates the use of ensoETM in cardiac ablation procedure for decreasing collateral thermal injury. EnsoETm is the product of Attune Medical which focuses temperature management using esophagus. Scope of the Report Attributes Details Years Considered Historical data – 2017 - 2020 Base Year – 2020 Forecast – 2021 – 2027 Global Temperature Management Systems Market Continues to Stabilize with the Overall Market Growing at a CAGR of 6.4% Facts Covered Revenue in USD Million Market Coverage North America, Europe, the Asia - Pacific, Latin America, and the Middle East and Africa Product Service/Segmentation By Product - Type, By Application, By End - User, By Region Key Players Life Recovery Systems, The 37Company, Medtronic PLC, Geratherm Medical AG, Vyaire Medical, Adroit Medical Systems, Gentherm Incorporated, Augustine Surgical, Inc., Inspiration Healthcare Group PLC, 3M Company, Becton, Dickinson And Company, Smiths Medical, Ecolab, Zoll Medical Corporation, Stryker Corporation, Attune Medical , Adroit Medical Systems, Biegler GMBH, Encompass Group, LLC, and Other Prominent Players By Product Type Ø Patient Warming Systems Surface Warming Systems Co nventional Warming Systems Intravascular Warming Systems Ø Patient Cooling Systems Co nventional Cooling Systems Intravascular Cooling Systems Surface Cooling Systems By Application Ø Cardiology Ø Orthopedics Ø Neurology Ø Others By End - User Ø Operati ng Rooms Global Temperature Management Systems Market Continues to Stabilize with the Overall Market Growing at a CAGR of 6.4% Ø Intensive Care Units Ø Emergency Rooms Ø Others By Region Ø North America Ø Europe Ø Asia - Pacific (APAC) Ø Latin America (LATAM) Ø Middle - East & Africa (MEA) FAQs: 1. What is the current size of the global temperature management systems market? Answer: The global temperature management systems market reached USD 3.5 billion in 2020. 2. What are the major factors driving the growth of the global temperature management systems market? Answer: The major factors driving the growth of the global temperature m anagement systems market are the growing number of medical procedures worldwide and the rising prevalence of cardiovascular and other chronic conditions. 3. Who are the key players in the global temperature management systems market? Answer: The key player s in the global temperature management systems market are Vyaire Medical, Adroit Medical Systems, Gentherm Incorporated, Augustine Surgical, Inc., Inspiration Healthcare Group PLC, 3M Company, Becton, Dickinson And Company, Smiths Medical, Ecolab, Zoll Med ical Corporation, Stryker Corporation, Attune Medical, Adroit Medical Systems, Biegler GMBH, Encompass Group, LLC, and other prominent players. 4. Which end - user segment accounted for the largest share in the global temperature management systems market? A nswer: The operating room segment accounted for the largest share in the global temperature management systems market. 5. Which region is at the highest growth rate in the global temperature management systems market? Answer: North America has the largest share in the global temperature management systems market. Global Temperature Management Systems Market Continues to Stabilize with the Overall Market Growing at a CAGR of 6.4% About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informe d and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com Global Temperature Management Systems Market Continues to Stabilize with the Overall Market Growing at a CAGR of 6.4% Global Temperature Management Systems Market Continues to Stabilize with the Overall Market Growing at a CAGR of 6.4%