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(MoneyNewsWire.Net, March 30, 2018 ) The North America Temperature Management market size was approx. USD 940 million in 2016. It is likely to grow at a CAGR of 2.6 % to reach USD 1.07 billion by 2021. It is the largest market capturing 40% of the global market share.
Decrease in the loss of blood during surgeries, low risk of neurological disorders post cardiac arrests, robust post-surgery recovery and reduced risks of SSIs are some of the benefits of temperature management devices. These benefits lessen the healthcare costs by enhancing the healthcare infrastructure with the utilization of patient temperature management devices.
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Numerous technologically advanced intravascular systems, rising number of conferences for physicians as a part of awareness campaigns, more research funding and increasing cases of chronic diseases are the major factors driving the growth of this market. Secondary factors are rising number of healthcare centres using the temperature management system in numerous clinical applications, increasing incidences of Nervous System and Cardiovascular Disorders, development of mobile devices, cancer. Further, increasing child births has also led to additional demand for temperature management devices to be used for controlling temperature in neonatal care.Price pressures, product recalls and high costs of IVTM systems are the key restraints of this market.
The North America Temperature Management market can be categorized into four categories: by product, by application, by medical specialty and by end user. On the basis of application, Temperature Management market is classified into Perioperative Care (Operating Rooms, Recovery Rooms, and Preoperative Care Units), Acute Care (Intensive Care Units, Emergency Rooms, Coronary Care Units, Neurological Care Units, Burn Centres and Cath Labs), Military Applications, new-born Care (Delivery Suites, Neonatal Intensive Care Units and Postnatal Wards), Physiotherapy, Medical/Surgical Units, Patient Transport, Chemotherapy and Other Applications. In 2017, the perioperative care category is projected to command the largest market share. The growing number of surgical procedures performed worldwide is the key factor driving this market segment.
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Further, technological advancements, rising number of product launches for the perioperative care segment and increasing number of partnerships between major market players and hospitals are also buttressing market growth. If we go by product, Temperature Management market is segmented into Patient Warming Systems (Surface Warming Systems (Convective Warming Systems and Conductive Warming Systems), Intravascular Warming Systems and Warming Accessories) and Patient Cooling Systems (Surface Cooling Systems, Intravascular Cooling Systems and Cooling Accessories). In 2017, patient warming systems category is likely to command the largest market share. The growing demand for these systems in diverse hospital settings is the primary factor fuelling market growth. Further, on the basis of medical specialty the market can be categorized into General Surgery, Cardiology, Neurology, Paediatrics, Thoracic Surgery, Orthopaedics and others. In 2017, the general surgery category is estimated to command the largest market share. The growing incidence of colorectal cancer, GI disorders, and endocrine disorders are the key factors driving this market. Last but not the least, on the basis of end user the market is segmented into Surgeons and Anaesthesiologists, Nursing Staff and Paramedical Staff.
By geography, the North America Temperature Management market has been categorized into US and Canada. Presently, North America accounts for the largest market share. Rising geriatric population, increasing cases of cardiac arrests and associated neurological disorders and wider availability of technologically advanced products are some of the factors attributable to the above-mentioned trend.
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Major companies in the Temperature Management market are 3M Company (U.S.), Smiths Medical (U.K.), Medtronic plc (Ireland), C.R. Bard Inc. (U.S.), Cincinnati Sub-Zero Products, Inc. (U.S.), Geratherm Medical AG (Germany), Inspiration Healthcare Group plc, (U.K.), Stryker Corporation (U.S.), The 37Company (Netherlands), ZOLL Medical Corporation (U.S.), GE Healthcare (U.S.), Becton, Dickinson and Company (U.S.), DRÄGERWERK AG & CO. KGAA (Germany), and Ecolab (U.S.)
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