Patient Temperature Management Market

Publisher: AnalystView Market Insights
Publication Date: June, 2020
Healthcare / Medical Equipment
Pages: 233
Delivery Format: PDF

By Product (Patient Cooling Systems, Patient Warming Systems), By Medical Specialty (Cardiology, Pediatrics, Neurology, Thoracic Surgery, Orthopedics, General Surgery), By Application (Acute Care, Perioperative Care, Newborn Care, Physiotherapy, Medical/Surgical Units, Patient Transport, Military Applications, Chemotherapy), By End-Use (Neonatal ICU, Emergency Room, Operating Room, ICUs), and By Geography (NA, EU, LATAM, APAC, and MEA) Ð Analysis, Size, Share, Trends, & Forecast from 2020-2026

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REPORT HIGHLIGHT
The patient temperature management market was valued at USD 2.88 billion by 2019, growing with 8.72% CAGR during the forecast period, 2020-2026.

Patient temperature management is defined as product offerings and solutions where the optimal temperature is managed through external sources such as blankets, accessories, devices, and others. These devices are divided based on their functioning as some regulate blood through a machine, and some manage the temperature through external warming or cooling, and other solution offerings.

Market Dynamics

The growing prevalence of cardiovascular diseases & cancer and rising levels of surgical procedures conducted all across the globe are the major factors driving the growth of the global patient temperature management market. According to the World Health Organization (WHO), around 422.7 million cases of cardiovascular diseases were reported in 2016, out of which 17.9 million died of the disease. Furthermore, the increasing spending on research & development activities and technological advancements in patient temperature management are other factors impelling market growth. Conversely, high costs of products and lack of effectiveness & side effects associated with treatment are predicted to hamper the market growth in the coming future. On the contrary, the introduction of various healthcare regimes and favorable government initiatives are expected to create lucrative growth opportunities in the overall market during the forecast period.

Product Takeaway

ÒPatient warming systems segment to dominate the global industryÓ

Based on the product, the global market for patient temperature management is bifurcated into patient cooling systems and patient warming systems. The patient warming systems segment is further sub-categorized into the conventional, surface, and intravascular warming systems. Whereas, the patient cooling systems segment is sub-categorized into the conventional, surface, and intravascular cooling systems.

The patient warming systems segment subjugated the industry in 2019 and is anticipated to dominate the industry during the forecast period. This dominance is majorly attributed to the wide usage of these systems in surgeries that involves the use of general anesthesia. General anesthesia provided before surgery lowers the patientÕs body temperature. On the other hand, the patient cooling systems segment is anticipated to grow at a healthy rate during the forecast period owing to an increasing number of cardiac surgeries and the rising need for the lower temperature to eliminate the adverse neurologic outcomes. In addition, cooling systems are also required by patients with traumatic brain injury, which will also contribute to the segmental market growth.

Medical Specialty

ÒGeneral surgery segment to be most lucrative during the forecast periodÓ

On the basis of medical specialty, the overall patient temperature management industry is categorized into neurology, thoracic surgery, pediatrics, general surgery, and orthopedics. Among these, the general surgery segment accounted for the majority of share in 2019 and is estimated to subjugate the market throughout the forecast. This is majorly due to the rising number of surgeries carried out all across the globe. On the other hand, the orthopedics segment is anticipated to grow at a substantial rate during the forecast period. This is mainly because growing geriatric population and rising incidences of road accidents all over the world.

Application Takeaway

ÒChemotherapy segment to grow at a significant rate by the end of 2026Ó

Based on application, the worldwide market for patient temperature management is categorized into acute care, perioperative care, newborn care, physiotherapy, medical/surgical units, patient transport, military applications, and chemotherapy. Further, the perioperative care segment is sub-categorized into recovery rooms, operating rooms, and preoperative care units. The acute care segment is sub-categorized into coronary care units, neurological care units, burn centers, intensive care units (ICU), emergency rooms, and cath labs. Also, the newborn care segment is sub-categorized into neonatal intensive care units, delivery suites, and postnatal wards.

Among these, the perioperative care segment is anticipated to hold the majority of share by the end of 2026 owing to the rising number of surgical procedures carried out in operating rooms. In addition, patient warming systems are required in preoperative care units to eliminate the complications in surgery. On the other hand, the chemotherapy segment is estimated to grow at a considerable rate during the period of forecast owing to the rising cases of cancer all across the globe. According to the World Health Organization (WHO), around 17 million new cases of cancer were reported in 2018.

End-Use Takeaway

ÒOperating room segment to account for the highest market share by 2026Ó

On the basis of end-use, the global market is categorized into neonatal ICU, emergency room, operating room, and ICUs. Of these, the operating room segment registered for the majority of share in 2019 and is estimated to grow at a significant rate during the forecast period. This is mainly because the operating rooms require a specific temperature during the pre- and post-operative surgeries in order to eliminate surgical complications. For example, the patients injected with anesthesia prior to surgery require warming therapy, whereas, cooling therapies are required in the operating room during cardiac surgeries.

On the other hand, the neonatal ICU segment is anticipated to hold a significant revenue share during the forecast period owing to the surge in the number of premature deliveries and childbirth. Moreover, as premature infants are exposed to cold temperatures due to the risk of hypothermia, patient warming systems are used in neonatal ICUs to keep patients warm.

Regional Takeaway

ÒAsia Pacific region to create lucrative opportunities in the global industryÓ

Depending on the region, the global industry is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North America region played a dominant role in 2019 and is projected to continue its dominance during the forecast period. This is majorly attributed to growing healthcare expenditure and increasing the number of cardiac surgeries in the U.S. In addition, the favorable reimbursement scenario in the country will contribute to the regional market growth in the coming future. On the other hand, the Asia Pacific market for patient temperature management is projected to witness lucrative growth in the estimated timeframe. This is primarily owing to the presence of high growth opportunities in order to cater to the high unmet needs of the target population in this region.

COVID-19 Impact

The COVID-19 pandemic has positively impacted the global patient temperature management market. Patients with cardiovascular diseases are vulnerable to COVID-19 disease, which is increasing the demand for patient temperature management products. This factor is responsible for the overall market growth during this pandemic situation. The market might foresee a drift in product availability, owing to the high costs and lack of patient temperature management products.

Key Vendor Takeaway

The leading players of the global patient temperature management market include Stryker Corporation, Medtronic plc, ZOLL Medical Corporation, 3M Healthcare, Bard Medical, Smiths Medical, Cincinnati Sub-Zero, Geratherm Medical, The 37Company, Inditherm plc, and Atom Medical Corporation. These players are implementing several strategies such as mergers & acquisitions, novel product developments, and geographical expansions to hold a strong position in the global industry.

For instance, in April 2019, Smiths Medical, Inc. launched its new patient temperature management product namely, ÔLevel 1,Õ which is a connective warmer. Level 1 is specially designed to help hospitals improve patient outcomes by increasing effectiveness and minimized costs.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year Ð 2015 to2018
Base Year Ð 2019
Estimated Year Ð 2020
Projected Year Ð 2026
TARGET AUDIENCE

Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

GLOBAL PATIENT TEMPERATURE MANAGEMENT MARKET KEY PLAYERS

3M Company
Cincinnati Sub-Zero Products, LLC
Smiths Medical, Inc.
The 37Company
Stryker Corporation
ZOLL Medical Corporation
Medtronic
Bard Medical, Inc.
Geratherm Medical AG
Atom Medical Corporation
Inditherm Plc.
GLOBAL PATIENT TEMPERATURE MANAGEMENT MARKET, BY PRODUCT

Patient Cooling Systems
Conventional Cooling Systems
Surface Cooling Systems
Intravascular Cooling Systems
Patient Warming Systems
Conventional Warming Systems
Surface Warming Systems
Intravascular Warming Systems
GLOBAL PATIENT TEMPERATURE MANAGEMENT MARKET, BY MEDICAL SPECIALTY

Cardiology
Pediatrics
Neurology
Thoracic Surgery
Orthopedics
General Surgery
Others
GLOBAL PATIENT TEMPERATURE MANAGEMENT MARKET, BY APPLICATION

Acute Care
Coronary Care Units
Neurological Care Units
Burn Centers
Intensive Care Units (ICU)
Emergency Rooms
Cath Labs
Perioperative Care
Recovery Rooms
Operating rooms
Preoperative Care Units
Newborn Care
Neonatal Intensive Care Units
Delivery Suites
Postnatal Wards
Physiotherapy
Medical/Surgical Units
Patient Transport
Military Applications
Chemotherapy
Others
GLOBAL PATIENT TEMPERATURE MANAGEMENT MARKET, BY END-USE

Neonatal ICU
Emergency Room
Operating Room
ICUs
Others
GLOBAL PATIENT TEMPERATURE MANAGEMENT MARKET, BY REGION

North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA

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Patient Temperature Management Market

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