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Worldwide Temperature Management Markets, 2024 - Growing Number of Contracts & Agreements Between Market Players Spurs Opportunities

Dublin, Aug. 14, 2019 (GLOBE NEWSWIRE) -- The "Temperature Management Market by Product (Surface & Intravascular System - Warming & Cooling), Application (Perioperative, Acute Care, Newborn Care), Medical Specialties (Pediatric, Orthopedic) - Global Forecast to 2024" report has been added to's offering.

The temperature management market is projected to reach USD 3 billion by 2024 from USD 2.6 billion in 2019, at CAGR of 3.2% during the forecast period.

The market study covers the temperature management market across various segments. It aims at estimating the market size and the growth potential of this market across different segments, based on the product, application, medical specialty, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.

The temperature management market comprises major players such as 3M Company (US), Medtronic (Ireland), Smiths Medical (US), Stryker (US), and ZOLL Medical (Japan). The study includes an in-depth competitive analysis of these key players in the temperature management market, along with their company profiles, recent developments, and key market strategies.

Increase in the incidence of chronic conditions and the resultant increase in the number of surgical procedures to drive market growth

The growth of this market is driven by the increasing prevalence of chronic diseases and the subsequent increase in the number of surgical procedures. The growing number of contracts and agreements between market players is also expected to offer growth opportunities for market players during the forecast period. However, the high cost of intravascular temperature management systems is restraining the growth of this market.

Patient cooling systems to register the highest CAGR during the forecast period

Patient cooling systems are expected to witness the highest growth in the temperature management market, by product, during the forecast period. Patient cooling systems are used to cool a patients body in emergency situations, such as cardiac arrests, strokes, and myocardial infarction. Factors such as the increasing adoption of intravascular cooling and the high demand for patient cooling systems in emergency medical conditions, such as traumatic brain injury (TBI), strokes, and cardiac arrests are supporting the growth of the patient cooling systems segment.

Acute care is the fastest-growing application segment of the temperature management market during the forecast period

The acute care segment is expected to register the highest growth in the temperature management market during the forecast period. Acute care encompasses specialized care and the support given to patients during emergencies or after undergoing surgeries in hospitals. The increasing number of surgical procedures performed, growth in the geriatric population and the increasing number of product launches are supporting the growth of this application segment.

Orthopedic surgery segment to grow at the highest CAGR during the forecast period

The orthopedic surgery segment is expected to register the highest CAGR of 4.8% during the forecast period. The growing number of knee and hip replacement procedures, rising prevalence of arthritis, and the increasing prevalence of musculoskeletal disorders are the key factors responsible for the growth of the orthopedic surgery segment in the temperature management market.

Asia Pacific to grow at the highest CAGR during the forecast period.

North America accounted for the largest share of this market, followed by Europe. The large share of this regional segment is mainly due to the large volume of surgical procedures performed in North American countries. The Asia Pacific market, on the other hand, is estimated to grow at the highest CAGR during the forecast period. A number of factors, such as the developing healthcare infrastructure, growing medical tourism, and government initiatives to increase the affordability of healthcare services are supporting the growth of the temperature management market in the Asia Pacific.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Temperature Management Market Overview
4.2 Market, By Product
4.3 North America: Market, By Country & Product (2018)
4.4 Market, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Increase in the Incidence of Chronic Conditions Increasing Number of Surgical Procedures
5.2.2 Restraints High Cost of Intravascular Temperature Management Systems
5.2.3 Opportunities Growing Number of Contracts & Agreements Between Market Players
5.2.4 Challenges Sustainability of Players in the Highly Competitive Market

6 Temperature Management Market, By Product
6.1 Introduction
6.2 Patient Warming Systems
6.2.1 Surface Warming Systems Convective Warming Systems Rising Adoption of Convective Warming Systems Among Hospitals to Drive Market Growth Conductive Warming Systems Conductive Warming is a Safe, Inexpensive, and Effective Method for Warming Patients During Perioperative Procedures
6.2.2 Intravascular Warming Systems Technological Advancements are Driving the Growth of the Intravascular Warming Devices Market
6.2.3 Warming Accessories
6.3 Patient Cooling Systems
6.3.1 Surface Cooling Systems Risk of Overshoot and Skin Lesion & Burns are Limiting the Use of These Systems
6.3.2 Intravascular Cooling Systems Increased Precision of Operating in Smaller Temperature Range is Driving the Adoption of These Systems
6.3.3 Cooling Accessories

7 Temperature Management Market, By Application
7.1 Introduction
7.2 Perioperative Care
7.2.1 Operating Rooms Operating Rooms Dominate the Market for Perioperative Care
7.2.2 Postoperative Care Units Need to Monitor Hypothermia in Surgical Patients Drives Demand for Temperature Management in Postoperative Care
7.2.3 Preoperative Care Units
7.3 Acute Care
7.3.1 Intensive Care Units Increasing Admissions and Growing Prevalence of Life-Threatening Diseases are Driving Market Growth
7.3.2 Emergency Rooms Rising Number of ER Visits is Driving the Growth of This Segment
7.3.3 Coronary Care Units Risks Associated With the Use of Intravascular Temperature Management have Affected Its Adoption in Coronary Care
7.3.4 Burn Centers Severe Effects of Hypothermia on Burn Victims Necessitate Temperature Management Measures
7.3.5 Neurological Care Units Growing Prevalence of Alzheimer's, Stroke, and Other Neurological Diseases has Supported Market Growth
7.3.6 Cath Labs High Incidence of Cardiac Arrests Supports Demand for Temperature Management in Cath Labs
7.4 Newborn Care
7.4.1 Delivery Suites High Birth Rate in Developing Regions is A Key Growth Driver in This Segment
7.4.2 Neonatal Intensive Care Units High Neonatal Death Rate has Bolstered Demand for Temperature Management
7.4.3 Postnatal Wards Recommendations for Postnatal Care have Contributed to Market Growth
7.5 Other Applications

8 Temperature Management Market, By Medical Specialty
8.1 Introduction
8.2 General Surgery
8.2.1 Increasing Incidence of Breast, Lung, and Colorectal Cancers and a Large Number of General Surgeries Performed to Drive Market Growth
8.3 Cardiology
8.3.1 High Incidence of Cardiac Arrests is A Major Factor Driving Market Growth
8.4 Neurology
8.4.1 Increasing Incidence of Traumatic Brain Injuries, Stroke, and Tumors to Support Market Growth
8.5 Pediatrics
8.5.1 Increasing Focus on Reducing Infant Mortality is Supporting the Growth of This Market Segment
8.6 Thoracic Surgery
8.6.1 Increasing Prevalence of Lung Diseases to Drive the Adoption of Temperature Management Systems
8.7 Orthopedic Surgery
8.7.1 Orthopedic Surgery Segment to Register the Highest Growth During the Forecast Period
8.8 Other Medical Specialties

9 Temperature Management Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US US Dominates the North American Market
9.2.2 Canada Increasing Incidence of Various Chronic Diseases Will Drive Market Growth in Canada
9.3 Europe
9.3.1 UK Large Number of Inpatient Surgical Procedures in the UK Driving the Market Growth
9.3.2 Germany Demand for Patient Warming Devices is Increasing in Perioperative Care in Germany
9.3.3 France Strong Healthcare System in France Will Create Growth Opportunities
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 Growing Medical Tourism and Availability of Low-Cost Treatment has Contributed to Market Growth in APAC
9.5 Rest of the World

10 Competitive Landscape
10.1 Overview
10.2 Market Share Analysis
10.3 Competitive Leadership Mapping (2018)
10.3.1 Visionary Leaders
10.3.2 Innovators
10.3.3 Dynamic Differentiators
10.3.4 Emerging Companies
10.4 Competitive Situation & Trends
10.4.1 Product Launches
10.4.2 Agreements & Partnerships
10.4.3 Acquisitions
10.4.4 Other Developments

11 Company Profiles
11.1 3M Company
11.2 Becton, Dickinson and Company
11.3 Drgerwerk AG & Co. KGaA
11.4 Ecolab
11.5 GE Healthcare
11.6 Gentherm Incorporated
11.7 Geratherm Medical AG
11.8 Inspiration Healthcare Group PLC
11.9 Medtronic PLC
11.10 Smiths Medical
11.11 Stryker Corporation
11.12 The 37company (The Surgical Company)
11.13 Zoll Medical Corporation (A Subsidiary of Asahi Kasei Corporation)

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