Selbyville, Delaware, June 11, 2020 (GLOBE NEWSWIRE) -- According to the study, global patient temperature management devices industry generated revenues worth USD 2.6 billion in the year 2019 and is predicted to expand with a CAGR of 5.62% between 2020 and 2027. The consistent expansion of the market can be credited to a broad plethora of factors such as increasing number of surgical procedures and surging investment on healthcare.
Patient temperature management devices aid in containing the risk of neurological disorders after a cardiac arrest, but also help in minimizing blood loss during surgeries. Moreover, these devices help in improving the post-surgery recovery processes, which is known to have a robust impact on market size growth. Patient temperature management devices are touted to decrease the duration of hospital stay, further lowering the overall healthcare cost.
How is the outbreak of COVID-19 impacting industry remuneration?
Increased pervasiveness of COVID-19 is fostering the demand for patient temperature management devices, since high temperature is the main symptom of the disease. Additionally, numerous market majors are focusing on reinforcing their product offerings, geographical presence, and distribution networks through various mergers and acquisitions to take advantage of the current pandemic situation, thereby favoring the overall market scenario. However, high costs associated with intravascular temperature management systems may act as a restraining factor to the overall market growth.
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Product Insights
Worldwide patient temperature management devices industry is segmented on the grounds of product landscape, end-user spectrum, application types, and geographical divisions. Based on the product spectrum, the market is further split into surface warming systems, intravascular warming systems, convective warming systems, and patient warming systems.
Citing the end-use landscape, the industry is classified into ambulatory sites, emergency care units, and surgical centers. Whereas in terms of application landscape, the overall market is divided into newborn care, acute care, perioperative care, and others.
Regional Analysis
Global patient temperature management devices industry is divided into North America, Latin America, Asia-Pacific, Europe, and Rest of the World. The North America market is predicted to expand significantly during the forecast period, primarily due to escalating healthcare expenditure and rising number of cardiac surgeries. The increasing number of COVID-19 patients in North America is also bolstering regional revenue outlook.
Alternatively, the patient temperature management devices industry in Asia-Pacific is expected to acquire commendable returns in the subsequent years. Favorable reimbursement policies pertaining to the product is complementing the profit margins in the region.
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Competitive Arena
Covidien, Moeck und Moeck, Welkins, GE Healthcare, Enthermics Medical Systems, Geratherm Medical, Ecolab, ZOLL Medical Corp., Stryker Corp., Abbott Vascular Inc., R. Bard Inc., Ethicon Endo-surgery, Medtronic Plc. (Covidien Plc) and Metalfrio Solutions S.A are the major companies formulating the competitive terrain of the global patient temperature management devices industry.
Global Patient Temperature Management Devices Market by Product Type (Revenue, USD Billion, 2017-2027)
Patient Warming Systems
Convective Warming Systems
Intravascular Warming Systems
Surface Warming Systems
Global Patient Temperature Management Devices Market by End-user Landscape (Revenue, USD Billion, 2017-2027)
Surgical Centers
Emergency Care Units
Ambulatory Sites
Global Patient Temperature Management Devices Market by Application Scope (Revenue, USD Billion, 2017-2027)
Perioperative Care
Acute Care
Newborn Care
Others
Global Patient Temperature Management Devices Market by Regional Analysis (Revenue, USD Billion, 2017-2027)
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
Rest of the World
Global Patient Temperature Management Devices Market by Competitive Spectrum (Revenue, USD Billion, 2017-2027)
- Metalfrio Solutions S.A.
- Medtronic Plc (Covidien Plc)
- Ethicon Endo-surgery
- R. Bard Inc.
- Abbott Vascular Inc.
- Stryker Corp.
- ZOLL Medical Corp.
- Ecolab
- Geratherm Medical
- Enthermics Medical Systems
- GE Healthcare
- Moeck und Moeck, Welkins
- Covidien
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Patient temperature management devices market, by Region, 2018-2027 (USD Billion)
1.2.2. Patient temperature management devices market, by Product, 2018-2027 (USD Billion)
1.2.3. Patient temperature management devices market, by End User, 2018-2027 (USD Billion)
1.2.4. Patient temperature management devices market, by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Patient temperature management devices market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Patient temperature management devices market Dynamics
3.1. Patient temperature management devices market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Patient temperature management devices market: Industry Analysis
4.1. Portera??s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Portera??s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Patient temperature management devices market, by Product
5.1. Market Snapshot
5.2. Global Patient temperature management devices market by Product, Performance - Potential Analysis
5.3. Global Patient temperature management devices market Estimates & Forecasts by Product 2017-2027 (USD Billion)
5.4. Patient temperature management devices market, Sub Segment Analysis
Chapter 6. Global Patient temperature management devices market, by End user
6.1. Market Snapshot
6.2. Global Patient temperature management devices market by Product Design, Performance - Potential Analysis
6.3. Global Patient temperature management devices market Estimates & Forecasts by End user 2017-2027 (USD Billion)
6.4. Patient temperature management devices market, Sub Segment Analysis
6.4.1. Surgical centres
6.4.2. Emergency care units
6.4.3. Ambulatory sites
Chapter 7. Global Patient temperature management devices market, by Application
7.1. Market Snapshot
7.2. Global Patient temperature management devices market by Application, Performance - Potential Analysis
7.3. Global Patient temperature management devices market Estimates & Forecasts by Application 2017-2027 (USD Billion)
7.4. Patient temperature management devices market, Sub Segment Analysis
7.5. Perioperative care
7.6. Acute care
7.7. Newborn care
7.8. Other application areas
Chapter 8. Global Patient temperature management devices market, Regional Analysis
Related Report:
Global Remote Patient Monitoring Devices Market size & Forecast, 2018 – 2025
The Global Remote Patient Monitoring Devices Market Size is anticipated to reach over USD 1,882.75 Million by 2025, according to a new research report. The rise in the implementation rate of remote patient monitoring devices, increasing number of geriatric population, and growing incidence of patients suffering from different lifestyle diseases are the major factor boosting the global remote patient monitoring devices market. With the increasing development in wireless technology, such monitoring devices are used to remotely monitor the physical parameters of the person such as heart rate, blood pressure, blood glucose level, and provide proper treatment if necessary.
Remote patient monitoring technology comprises devices such as glucose meters, blood pressure monitoring system, and other portable devices that are used by patients at a remote location. Growing usage of smartphones and increasing the expansion of the smartphone applications that are linked to the monitoring devices further helps in transmitting and recording person’s health-related data to the healthcare suppliers or specialists.
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