Global Patient Temperature Management Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Significant Growth
The global patient temperature management market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 7% during the forecast period (2021-2027F). The rising prevalence of chronic conditions, cost-effective treatment, and the increasing number of surgeries are some of the major factors driving the patient monitoring market.
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The rise in the need for effective and early diagnosis, increasing prevalence of targeted diseases among people across the globe, and the high usage of patient temperature management over other imaging modalities owing to their various benefits accelerate the patient temperature management market growth. Geriatric patients are less able to control their body temperature, due to which they have a higher risk of intraoperative and postoperative hypothermia. The frequency of surgery has increased among the senior population due to better medical care. With the increasing age comes a reciprocal increase in the elderly patients admitted to the hospitals. These increasing rates of surgeries are directly proportional to the growth of temperature management products, as they are used to reduce complications before and after the surgery. Further, temperature management systems aid in cancer treatment for patients undergoing chemotherapy or radiation therapy for more effective results.
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Based on the application, the market is categorized into, surgery, neurology, cardiology, pediatrics, orthopedic surgery, and others. Among these, the surgery segment dominated the market and is expected to expand at the prominent CAGR over the forecast period. Increasing number of cardiac and gynecological surgeries across the globe is one of the key attributable factor. Temperature management systems are also largely used in pre-, post-, and perioperative surgical procedures. In addition, these devices help address surgical site complications. In addition, expanding geriatric population, growing awareness about healthcare and rising healthcare spending will also push the market further as greater number of surgeries would be performed. According to The Heart Foundation, in the U.S. every year around 720,000 people suffer from a heart attack. Cardiac diseases, such as stroke and heart attack need cold temperatures for eliminating any risk of traumatic brain injuries, thereby, generating high demand for cooling devices in the countrys.
Based on end-users, the segment is separated into operating room, neonatal ICU, emergency room, ICUs, and others, Among these, the operating room segment dominated the market and accounted for a significant share in 2021. Throughout pre-, post-, and perioperative surgeries, the patients need specific temperatures in the operating room in order to eliminate surgical complications. For instance, patients provided with anesthesia before surgery require warming therapies whereas during cardiac surgeries cooling therapies are required in operating rooms. Thus, with the rise in the number of surgeries, the demand for these products is expected to remain high. The increasing number of emergency admissions in hospitals and the growing number of surgeries performed each year has contributed to the market share. Moreover, the patient warming system serves as an effective tool for accurate diagnosis pre-operative and post-operative to determine the effectiveness of the treatment.
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For a better understanding of the market dynamics of the patient temperature management market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, the United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-pacific) and Rest of World has been conducted. North America constitutes a major market for the patient temperature management market industry in 2020 owing to the presence of well-established market players in the region, a large and growing population, and frequent product launches.
Stryker Corporation, Medtronic Plc, ZOLL Medical Corporation, Bard Medical, Inc., Cincinnati Sub-Zero Products, LLC, 3M Company, Smiths Medical, Inc., Geratherm Medical AG, The Surgical Company, Atom Medical Corporation. These companies are taking various strategic initiatives to increase their presence and market share.
Global Patient Temperature Management Market Segmentation
MARKET INSIGHTS BY PRODUCT
- Patient Warming System
- Patient Cooling System
MARKET INSIGHTS BY APPLICATION
- Orthopedic Surgery
MARKET INSIGHTS BY END USERS
- Operating Room
- Neonatal ICU
- Emergency Room
MARKET INSIGHTS BY REGION
North America Patient Temperature Management Market
- The United States
- Rest of North America
Europe Patient Temperature Management Market
- The United Kingdom
- Rest of Europe
Asia Pacific Patient Temperature Management Market
- South Korea
- Rest of Asia Pacific
Rest of World Patient Temperature Management Market
Top Company Profiles
- Stryker Corporation
- Medtronic Plc
- ZOLL Medical Corporation
- Bard Medical, Inc.
- Cincinnati Sub-Zero Products, LLC
- 3M Company
- Smiths Medical, Inc.
- Geratherm Medical AG
- The Surgical Company
- Atom Medical Corporation