Dallas, Texas, Nov. 25, 2020 (GLOBE NEWSWIRE) -- The “Global Temperature Management Market Size 2018, By Product (Patient Warming Systems {Surface Warming Systems, Intravascular Warming Systems, Warming Accessories}, Patient Cooling Systems {Surface Cooling Systems, Intravascular Cooling Systems, Cooling Accessories}), By Application (General Surgery, Cardiology, Neurology, Pediatrics, Orthopedics, Others), By End-use (Operating Rooms, Emergency Care Settings, Neonatal Intensive Care Units, Intensive Care Units, Others), By Region and Forecast 2019 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
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Adroit Market Research report on global temperature management market gives a holistic view of the market from 2015 to 2025, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2015 to 2017, with the base year of estimation as 2018 and forecast from 2019 to 2025. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global temperature management market have been studied in detail.
The global temperature management market is projected to reach an approximate value of USD 4.0 billion by 2025, growing at a CAGR of 7.3%. Surging geriatric population, rise in chronic diseases, increase in surgical procedures globally, and rapid innovation in temperature management systems are factors driving the temperature management market.
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Temperature management systems are commonly used to control and manage the body temperature of patients undergoing surgical procedures. Increase in cases of chronic ailments such as cardiac diseases stimulates the demand for surgeries. This, in turn, drives the demand for temperature management systems pre- and post-operative procedures. Moreover, launch of novel products by key industry players and growing focus on mergers and acquisitions in order to expand product offerings will escalate growth of the market. For instance, in April 2019, Gentherm Inc. acquired Stihler Electronic GmbH, a leading company primarily engaged in manufacturing patient and blood temperature management systems. The strategy enabled the firm to strengthen its patient temperature management offerings used in the operating room with a focus on normothermia.
The global temperature management market has been segmented based on product, application, end-use, and region. Based on product, the temperature management market is segmented into patient warming systems and patient cooling systems. Patient warming systems are further categorized into surface warming systems, intravascular warming systems, and warming accessories. Patient cooling systems are further segmented into surface cooling systems, intravascular cooling systems, and cooling accessories. Patient warming segment held majority of the market share in 2018. Temperature management is majorly adopted in operating rooms, emergency care settings, neonatal intensive care units, intensive care units, and other facilities. Operating rooms segment dominated the global temperature management market in 2018 owing to increase in adoption of temperature management in hospitals for patients undergoing surgical procedures. Application-wise, the global temperature management market is categorized into general surgery, cardiology, neurology, orthopedics, pediatrics, and others.
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North America dominated the global temperature management market in 2018. Increase in volume of surgical procedures, presence of large patient population with chronic diseases, rapid adoption of technologically advanced products in the region are key factors likely to drive the growth of the market in the next few years. Asia Pacific will create immense growth opportunities in the future owing to presence of large geriatric patient pool, increase in burden of cardiac disorders in emerging countries.
Major players operating in the global temperature management market include Becton, Dickinson and Company, Gentherm Incorporated, Zoll Medical Corporation (Asahi Kasei), Medtronic plc, 3M Company, Stryker Corporation, Hirtz & Co. KG, Geratherm Medical AG, Smiths Medical, the 37Company, ATom Medical Corporation among others.
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Major Points from Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Temperature Management Market by Product, 2015-2025 (USD Million)
5. Temperature Management Market by Application, 2015-2025 (USD Million)
6. Temperature Management Market by End-use, 2015-2025 (USD Million)
7. Temperature Management Market by Region 2015-2025 (USD Million)
8. Competitive Landscape
9. Company Profiles
10. Appendix
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