LOS ANGELES, June 10, 2019 (GLOBE NEWSWIRE) -- The Global Patient Temperature Management Market is estimated to grow at CAGR above 7.5% over the forecast time frame and reach the market value around USD 7.8 billion by 2026.
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The increasing amount of operations is expected to accelerate the demand for temperature control equipment. Open heart operations need to decrease patient body heat by blood cooling, which reduces the risk of post-operative and peri-operative surgical complications.
There are increasing numbers of operations conducted with increasing incidence of cardiac arrest, and other chronic heart diseases. This increase is expected to drive the need for patient temperature control in order to prevent negative brain impacts. For cancer patients, patient warming devices are also used as chemotherapy and radiation additives for more successful outcomes. In addition, newborns in neonatal treatment are probably subject to changes in temperature, which keeps them in incubators for a normal body temperature. The above variables drive demand for temperature surveillance equipment.
Modern temperature management systems are increasingly needed as demand for standard heating and cooling equipment is increasing. During the prediction era, the introduction by leading market players of a broad spectrum of ground warming and cooling technologies will have a positive effect on the patient temperature leadership industry. Over the years blood and fluid thermal control systems have also developed and can be implemented by circulating hot or cool saline through a catheter in the patient's body.
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Market Insights
The global temperature management market growth in the near future is anticipated to promote technological progress in intravascular devices and development in aging populations. In addition, the focus of market players is on market development, and technological advances can generate fresh prospects for future development. Moreover, the increased incidence of cardiac arrest and nervous system disorders generates a global need for temperature control technologies. Major companies adopt different approaches for prospective development in the worldwide market, such as merger & procurement, joint ventures, collaborations, alliances, expansions, etc.
The medications and surgeries are accessible worldwide at low cost and therefore have a positive effect on the worldwide market for temperature leadership. The worldwide market has been helped by the growth in health services and favourable reimbursement situations. The global temperature management market is further driven by an ever-increasing incidence of cardiovascular disease and the growing geriatric population. The cost of intravascular temperature management devices can, on the other hand, reduce worldwide market growth.
Market Snapshots
Patient heating systems resulted to an increase in the amount of operations in 2018, which lowered the patients' temperature owing to general anesthesia.
The use of the latest products such as cooling caps and blood cooling systems and fluid cooling systems is expected to show a profitable CAGR over the forecast period. Due to the growing amount of heart and gynecological operations worldwide, the segment of surgery had the biggest market share in 2018.
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Due to the big amount of operations and the need for the control of temperature during these operations, the operating rooms segment is anticipated to produce enormous revenues.
Due to the growing demand for technologically sophisticated products in the region, North America resulted the patient temperature management market in 2018.
In the forecast period, Asia Pacific is anticipated to demonstrate profitable growth owing to the sedentary lifestyle that leads to heart diseases.
Key Players & Strategies
Some of the main players in the market are the Stryker Corporation, Inditherm Plc., Bard Medical, Inc., Medtronic, ZOLL Medical Corporation, and Atom Medical Corporation.
In order to meet the growing requirements of patients, significant businesses adopt measures like fusions and procurements, development of fresh products and geographic expansion. For example, ZOLL Medical Corporation announced in March 2016 the commercial launching of its Thermogard XP (TGXP) Temperature Management System (TMM) in Japan by its japanese subsidiary Asahi Kasei ZOLL Medical Corp. (PMDA) (Japan Pharmaceuticals and Medical Device Agency).
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