Growing number of surgical procedures is primarily driving the growth of global patient temperature management devices market.
According to the report titled ‘Global patient temperature management devices market Size study with COVID Impact, Products (Patient warming systems, Convective warming systems, Intravascular warming systems, Surface warming systems) End users (Surgical centres, Emergency care units, Ambulatory sites) Applications (Perioperative care, Acute care, Newborn care, Other application areas) and Regional Forecasts 2020-2027’. Global patient temperature management devices market was valued at USD 2.6 million in 2019 and is projected to expand with a CAGR of 5.62% during 2020-2027.
Growing number of surgical procedures is primarily driving the growth of global patient temperature management devices market. Notably, patient temperature management systems provide various medical benefits like fast post-surgery recovery, decrease in risk of neurological diseases after cardiac arrest, and reduced blood loss at the time of surgery. Emphasis on reducing patients’ stay at the hospital and decrease in overall cost of healthcare are stimulating global patient temperature management devices market trend.
Moreover, these devices help in measuring the body temperature of COVID-19 patient since it is one of the major symptoms of the virus, thereby impelling the demand for patient temperature management devices. However, hefty cost of intravascular temperature management system is likely to act as a restraining factor for global patient temperature management devices industry expansion over the study period.
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Citing the regional landscape, worldwide patient temperature management devices market sphere is segmented into North America, Europe, Latin America, Asia Pacific, and Rest of the World. The report cites that North America currently holds significant market share and is expected to grow further over the assessment period. The regional growth is credited to rising number of cardiac surgeries along with growing healthcare expenditure in the U.S.
Meanwhile, Asia Pacific patient temperature management devices industry is expected to register decent growth over the analysis period, on account of growing population and subsequently increasing medical demands.
Major players influencing global patient temperature management devices market trends are Covidien plc, Welkin Health Inc., GE Healthcare, Geratherm Medical AG, Ecolab Inc., ZOLL Medical Corporation, Stryker Corporation, Abbott Vascular Inc., Enthermics Medical Systems, C. R. Bard Inc., Ethicon Endo-Surgery, and Medtronic plc.
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Related Report:
Global Temperature Management Systems Market Size, Regional Forecasts 2020-2027
Global Temperature Management Systems Market is valued approximately at USD 2.4 billion in 2019 and is anticipated to grow with a growth rate of more than 5.1% over the forecast period 2020-2027. Temperature or thermal management system manages the temperature of a system with the help of heat transfer and thermodynamics. It aids in the regulation and maintenance of human body temperature of patients in recovery rooms, intensive care units, operation theatres, and other areas of hospitals. The rising number of surgical procedures and increase in the incidence of chronic conditions are the few factors responsible for growth of the market over the forecast period.
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