Blood Warmer Devices Market: Current Analysis and Forecast (2022-2028)

Report Description

The global blood warmer devices market is expected to grow at a significant rate of around 8% during the forecast period. The blood warmer devices are the device that warm blood or IV fluid before administration. The rise in hypothermia cases along with an increasing number of surgeries are among the important reasons for the market growth of blood warmer devices. Furthermore, the rising geriatric population and an increasing number of diseases in the infant population also proliferates the market size of blood warmer devices. For instance, as per the WHO, by 2030, 1 in 6 people in the world will be aged 60 years or over. The share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion.

Stryker Corporation, Gentherm Medical, Belmont Medical, 3M, ICU Medical, Vyaire Medical Inc., The Surgical Company PTM, Life Warmer, MEQU, and Estill Medical Technologies Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Product Type, Portable category to witness higher CAGR during the forecast period”

Based on the product type, the market has been categorized into portable blood warmers and non-portable blood warmers. Among them, the portable blood warmers segment is expected to witness the fastest growth during the forecast period. The rising demand for portable devices from ambulatory surgical centers and rescue & defense sectors is the main reason for the growth of the portable segment. Further, the rising technological advancements and an increasing number of emergency cases are also important factors driving the segmental growth of portable blood warmers.

“Amongst End-user, hospitals/clinic segment to hold a significant share in the market in 2020”

Based on the end-user, the market has been categorized into hospitals/clinics, ambulatory services, and others. Among them, the hospitals/clinic segment holds a considerable share of the market, and it is expected to grow at a significant CAGR during the forecast period. This can be due to the presence of specialized professionals & equipment in the hospitals and the rising prevalence of chronic diseases. Moreover, the rapidly rising number of patients in the hospital & clinics globally also catalyzes the growth of the segment.

“Asia Pacific to witness the fastest growth in the market”

For a better understanding of the market adoption of the blood warmer devices industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific is anticipated to grow at the fastest rate during the forecast period. The major factors such as the increasing healthcare expenditure and the rapidly rising population in the region. Furthermore, the rising number of government and private health insurance also supports the fast growth of the region. For instance, the per capita healthcare expenditure of India accounted for USD 60.5 in 2016 which rose to reach USD 63.75 in 2019.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

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Research Methodology

Research Methodology for the Blood Warmer Devices Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Blood warmer devices market were the three major steps undertaken to create and analyze the adoption of blood warmer devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global blood warmer devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the blood warmer devices market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the blood warmer devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Blood Warmer Devices market. Further, we conducted factor analysis using dependent and independent variables such as the product type and end-users of blood warmer devices. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Blood Warmer Devices market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global blood warmer devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the blood warmer devices market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global blood warmer devices market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global blood warmer devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas the product type and end-users in the global Blood Warmer Devices market.

The main objective of the Global Blood Warmer Devices Market Study

The current & future market trends of the global blood warmer devices market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the blood warmer devices market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the product type and end-users.
• Define and analysis of the regulatory framework for the blood warmer devices industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the blood warmer devices market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the blood warmer devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
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