The global patient temperature management market is anticipated to reach a value of USD 4.5 billion by 2025, according to a new report by Grand View Research, Inc. Growing number of surgical procedures is expected to have a huge impact on the demand for temperature management products. For instance, open heart surgeries require maintenance of patients’ temperature through blood cooling and, thereby, reducing the risk for perioperative and postoperative surgical complications.
Currently, the number of cardiac surgeries being undertaken is rapidly increasing owing to the rising prevalence of cardiac arrest and other chronic cardiovascular diseases. This has resulted in increased need for patient temperature management in order to restrict adverse effects on brain. Moreover, while treatment of cancer patients, patient warming systems are used along with chemotherapy and radiation therapy for more effective results. In addition, increasing number of childbirth has also given rise to additional demand for temperature management devices in order to control temperature in neonatal care.
Furthermore, technological advancements have expanded the temperature management product portfolio of companies through the introduction of warming and cooling blankets, surface pads, and cooling caps.
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Further key findings from the study suggest:
- Patient warming systems dominated the market in 2015 due to rising need for temperature management devices for patients requiring general anesthesia for surgery.
- Patient cooling systems are expected to show a lucrative CAGR over the forecast period owing to technological advancements like surface cooling pads and blankets
- Surgery segment held the largest market share in 2015 due to rising number of surgeries and updated guidelines released by the government to address the issues related to patient’s temperature management during open heart surgery
- North America contributed toward the largest revenue in 2015 owing to increasing demand for technologically advanced temperature management products
- Asia Pacific is projected to witness an attractive CAGR over the forecast period, primarily due to increasing prevalence of cancer and heart attack
- Some of the key companies for the market include ZOLL Medical Corporation; Stryker Corporation; Medtronic, Inc.; Cincinnati Sub-Zero Products, LLC; Geratherm Medical AG; Bard Medical, Inc.; 3M Company; Smiths Medical, Inc.; Inditherm Plc; The 37Company; and Atom Medical Corporation
- In 2014, Medtronic acquired Covidien plc in order to enter the temperature management business
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.