Portland, OR, Feb. 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global patient warmer market garnered $1.66 billion in 2020, and is expected to reach $3.49 billion by 2030, witnessing a CAGR of 7.6% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Rise in the number of surgeries, surge in prevalence of cardiovascular diseases and cancer, and increase in preterm infant population drive the growth of the global patient warmer market. However, presence of a stringent regulatory framework and high cost of technologically advanced products restrain the market growth. On the other hand, launches of new products present new opportunities in the coming years.
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Impact of Covid-19 Breakout on Patient Warmer Market-
- Elective surgeries were postponed across the world to focus on the treatment of Covid-infected patients. This postponement led to reduction in demand for patient warmer systems across hospitals. This affected the overall revenue of the total market.
- Manufacturing activities of patient warmer have been affected due to lockdown, shortage of raw material, and disrupted supply chain.
- The market is expected to recover in the coming years as all the pending elective procedures are carried out along with the routine procedures.
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The report offers detailed segmentation of the global patient warmer market based on product, type, end user, and region.
Based on product, the surface warming system segment contributed to the highest share in 2020, accounting for more than two-fifths of the total market share, and is expected to continue its lead position during the forecast period. However, the intravenous warming system segment is projected to manifest the highest CAGR of 8.6% from 2021 to 2030.
Based on end user, the hospitals segment held the largest share in 2020, accounting for more than three-fifths of the global patient warmer market, and is expected to maintain its dominance in terms of revenue by 2030. However, the ambulatory services region is projected to witness the largest CAGR of 8.4% during the forecast period.
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Based on region, North America accounted for the highest share in 2020, contributed to more than two-fifths of the total market share, and is estimated to continue its leadership status by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 8.5% during the forecast period.
Leading players of the global patient warmer market analyzed in the research include 3M Company, Baxter International Inc. (Gambro), Barkey GmbH & Co. KG, Biegler GmbH, Belmont Instrument, GE Healthcare, Emit Corporation, Smith’s Group Plc. (Smith’s Medical), Geratherm Medical, and Stryker Corporation.
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