New York, United States , June 04, 2024 (GLOBE NEWSWIRE) -- The Global Temperature Modulation Devices Market Size is to Grow from USD 2.7 Billion in 2023 to USD 5.46 Billion by 2033, at a CAGR of 7.30% during the projected period.
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Temperature modulation devices are devices or systems that control or alter the temperature of a certain substance, procedure, or environment. Patients often require devices to regulate their body temperature because hypothermia is a common occurrence. Appropriate temperature control is directly linked to better therapeutic effects. Pediatric patients experience less difficulties, heal from medical treatments more rapidly, and spend less time in the hospital when their body temperature is maintained at its ideal level. Better clinical results ensue, and the costs of treating patients who need more involved and prolonged hospital stays are reduced for healthcare facilities. Two main causes are driving demand for the product: an increase in the number of chronic illnesses and traffic accidents. Furthermore, many surgical procedures call for implants and transplants that are typically kept significantly below normal body temperature in order to prevent microbial infection. Patient warming systems are necessary because it has been shown that the introduction of such implants lowers the patient's body temperature. Furthermore, because they have difficulty controlling their body temperature, weaker people require body-warming equipment to expedite their recovery and reduce their risk of complications. However, Unstable power infrastructure may exist in some places, and supply disruptions may result from emergencies or natural disasters. This dependence on the electrical grid may pose significant challenges in circumstances where patient temperature management is essential. These dependencies make healthcare access inequities worse by increasing in importance in settings where reliable power sources are scarce. In conclusion, the market will suffer from temperature modulation devices' reliance on power in a number of ways.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Temperature Modulation Devices Market Size, Share, and COVID-19 Impact Analysis, By Product (Convective Patient Warming System, Conductive Patient Warming System, Portable Blood, Conductive Patient Cooling System, and Other), By Application (Perioperative Care, Acute Care, Coronary Care, and Other), By End-User (Hospital, Diagnostic Laboratories, Ambulatory Surgical Centers, and Other), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
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The convective patient warming system segment dominates the market with the largest revenue share through the forecast period.
Based on the product, the global temperature modulation devices market is segmented into convective patient warming system, conductive patient warming system, portable blood, conductive patient cooling system, and other. Among these, the convective patient warming system segment dominates the market with the largest revenue share through the forecast period. Convective patient warming systems, which circulate warm air around the patient, have long been used in healthcare institutions, especially in wealthy countries. This is due to the fact that both successful medical treatments and post-operative care depend on the patient's body temperature being regulated properly.
The acute care segment dominated the global temperature modulation devices market in 2023.
Based on the application, the global temperature modulation devices market is segmented into perioperative care, acute care, coronary care, and other. Among these, the acute care segment dominated the global temperature modulation devices market in 2023. Temperature modulation devices are useful in acute care settings were maintaining and adjusting body temperature is critical to patient care and healing. To treat hypothermia, trauma patients or critically sick patients admitted to the emergency room may also benefit from temperature modulation devices; this is especially true if they have disorders that lead to temperature dysregulation or have been exposed to environmental factors.
The hospital segment dominates the market with the highest share in 2023.
Based on the end-user, the global temperature modulation devices market is segmented into hospital, diagnostic laboratories, ambulatory surgical centers, and other. Among these, the hospital segment dominates the market with the highest share in 2023. Hospitals are among the primary locations where temperature modulation devices are disseminated since they must maintain vaccines and medications at exact temperatures to guarantee their efficiency and safety. In addition, hospitals usually use temperature modulation systems to keep temperature-sensitive medical equipment and supplies so as to prevent deterioration or damage.
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North America dominates the market with the highest market share during the forecast period.
North America dominates the market with the highest market share over the forecast period. Future growth is expected as a result of growing healthcare expenses and the high price of medical equipment. It is also expected that increasing product development in the field of patient temperature control systems will fuel market expansion. Temperature modulation devices are becoming more and more necessary in North America due to increased spending by emergency search and rescue agencies and the defense sector. Because of the region's geographic location, blizzards and severe snowfall are frequent occurrences due to abnormally cold weather patterns.
The Asia-Pacific region is expected to accelerated during the forecast period. Asia Pacific is predicted to grow quickly because of several causes, such as the demand from the defense and emergency healthcare sectors, increased awareness, rising medical costs, and the increasing number of reputable medical device manufacturers in the region. In addition, the increased frequency of unintentional mishaps and the growing number of surgeries resulting from the region's increased population are some of the primary factors driving the demand for temperature modulation devices in the Asia-Pacific area.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global temperature modulation devices market are ICU Medical, Inc., Stryker Corporation, Belmont Medical Technologies 3M Company, Smith’s Group plc, Barkey GmbH & Co. KG, Gentherm Incorporated Becton, Dickinson and Company, The Surgical Company, General Electric Company, ABB Group, Kimberly-Clark, Mennen Medical, Texas instruments, Inc., EMIT Corp., BrainCool AB, The 37Company, and Other Key Players.
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Recent Developments
- In March 2020, Smiths Medical developed the Level 1 convective warmer which provides medical professionals a thermal care solution that is safe, easy to use, and peaceful, allow patient to maintain a normal body temperature throughout the whole surgical procedure. The launch grows the company’s line of products.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global temperature modulation devices market based on the below-mentioned segments:
Global Temperature Modulation Devices Market, By Product
- Convective Patient Warming System
- Conductive Patient Warming System
- Portable Blood
- Conductive Patient Cooling System
- Other
Global Temperature Modulation Devices Market, By Application
- Perioperative Care
- Acute Care
- Coronary Care
- Other
Global Temperature Modulation Devices Market, By End-User
- Hospital
- Diagnostic Laboratories
- Ambulatory Surgical Centers
- Other
Global Temperature Modulation Devices Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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