September 23rd, 2022 Coherent Market Insights Releases
All newborn and paediatric patients’ hospital treatment continues to include careful temperature regulation. Treatments used to keep a patient’s body temperature stable for a predetermined amount of time are referred to as temperature management. It helps to improve health problems and lowers the danger of tissue harm brought on by a lack of blood flow. In medicine, the body temperature is crucial. A fluctuation in body temperature is a symptom of several disorders. Even in healthy individuals, tracking body temperature can aid in the early diagnosis of illness. Therefore, it is crucial for critically sick patients to get thorough monitoring and management to prevent temperature extremes. Temperature is one of the essential indications that indicates a person’s health, hence managing and monitoring it is part of standard care.
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The worldwide temperature management market had a value of US$ 2,856.6 million in 2021 and is anticipated to grow at a CAGR of 4.2% from 2022 to 2028 to reach US$ 3,814.3 million.
In terms of volume, North America had the leading position in the global temperature management market in 2020, with a 38.5% share, followed by Europe and Asia Pacific.
A formal deal for Medtronic to buy Affera was signed in January 2022. Affera provides medical professionals with tools to enhance clinical processes, increase procedure effectiveness, and ultimately improve patient care.
At ARAB HEALTH 2021 in June 2021, Geratherm Medical AG displayed products in the temperature control – hypothermia prevention, blood pressure measurement, respiratory, and body temperature measuring categories.
Over the course of the projected period, the high frequency of chronic illnesses, including cancer and cardiovascular diseases, is anticipated to drive market expansion for temperature management. For instance, cardiovascular disorders are the biggest cause of mortality worldwide, according to the World Health Organization (WHO). According to estimates, 17.9 million deaths worldwide in 2019 were attributed to cardiovascular illnesses, or 32% of all fatalities. Furthermore, with approximately 10 million fatalities attributed to it in 2020, cancer was the top cause of mortality globally.
During the projected period, an increase in surgical operations around the world is anticipated to fuel market expansion for temperature management systems. By way of illustration, the American Society of Plastic Surgeons estimates that in 2020, more than 6.8 million reconstructive surgeries, 13.2 million cosmetic minimally invasive treatments, and around 2.3 million cosmetic surgical procedures were performed in the United States.
The worldwide temperature management market’s expansion is anticipated to be hampered by the high cost of temperature control systems. The price of temperature management equipment varies depending on the device’s brand, features, and specifications. For instance, the Warrior Blood and Fluid Warmer from Bell Medical Inc. ranges in price from US$3,438 to US$5,403.
Failures and product recalls are predicted to impede the development of the global temperature management market. For instance, due to the possibility of aluminium ions leaking into heated fluids, Smiths Medical recalled 500,000 Normoflo irrigation fluid warmers and warmer sets in September 2021. The Food and Drug Administration has classified the recall as a Class I recall, which is the most dangerous form (FDA).
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The worldwide temperature management market is predicted to provide participants attractive development prospects due to technological advancements in temperature management systems. For example, TSS ushered in a new age of productivity in April 2021 with next-generation Bluetooth-powered temperature monitoring systems that aid life science supply chain experts in automating their operations for time and cost savings while ensuring patient safety.
Global geriatric population rise is anticipated to present companies in the temperature management market with lucrative development prospects. For instance, the WHO projects that by 2030, 1 in 6 persons worldwide will be 60 years of age or older, and that by 2050, the number of people in the world who are 60 years of age or older would have doubled (to 2.1 billion).
The global temperature management market is anticipated to increase as a result of the rising demand for temperature control systems and equipment. For instance, Smiths Medical introduced a Level 1 next-generation elevated convective warmer, in March 2019. It offers healthcare professionals a quiet, user-friendly, and secure thermal care solution to assist patients in maintaining a normal body temperature throughout every stage of surgery.
The worldwide temperature management market is anticipated to increase as more contracts and agreements are made between industry participants. For instance, ZOLL Medical Corporation and Global Healthcare SG entered an exclusive distribution deal for portable targeted temperature management systems in the Asia Pacific region in May 2021.
Includes Zoll Medical Corporation, 3M, Stryker Corporation, Atom Medical Corporation, Smith Medical Inc., Becton, Dickinson and Company, Medtronic PLC, Cincinnati Sub-Zero Products LLC, Geratherm Medical AG, and Dragerwerk AG & Co. KGaA.
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Chapter 1 Industry Overview 1.1 Definition 1.2 Assumptions 1.3 Research Scope 1.4 Market Analysis by Regions 1.5 Temperature Management Market Size Analysis from 2022 to 2028 11.6 COVID-19 Outbreak: Temperature Management Industry Impact
Chapter 2 Global Temperature Management Competition by Types, Applications, and Top Regions and Countries 2.1 Global Temperature Management (Volume and Value) by Type 2.3 Global Temperature Management (Volume and Value) by Regions
Chapter 3 Production Market Analysis 3.1 Global Production Market Analysis 3.2 Regional Production Market Analysis
Chapter 4 Global Temperature Management Sales, Consumption, Export, Import by Regions (2017-2022) Chapter 5 North America Temperature Management Market Analysis Chapter 6 East Asia Temperature Management Market Analysis Chapter 7 Europe Temperature Management Market Analysis Chapter 8 South Asia Temperature Management Market Analysis Chapter 9 Southeast Asia Temperature Management Market Analysis Chapter 10 Middle East Temperature Management Market Analysis Chapter 11 Africa Temperature Management Market Analysis Chapter 12 Oceania Temperature Management Market Analysis Chapter 13 South America Temperature Management Market Analysis Chapter 14 Company Profiles and Key Figures in Temperature Management Business Chapter 15 Global Temperature Management Market Forecast (2022-2028) Chapter 16 Conclusions Research Methodology
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