(PharmaNewsWire.Com, March 24, 2020 ) The increase in the incidence of chronic conditions and the subsequent increase in the number of surgical procedures are the key factors driving market growth.
The global temperature management market is projected to reach USD 3.0 billion in 2024 from 2.6 billion in 2019, at CAGR of 3.2%
Patient warming systems to account for the largest share of the global temperature management market in 2019
Based on product, the patient warming systems segment is expected to account for the largest share of the temperature management market in 2019. Factors such as the rising demand for these systems in diverse hospital settings and the increasing adoption rate of invasive warming in surgical procedures such as orthopedic surgeries, gynecology and obstetrics procedures, gastrointestinal procedures, and general surgeries driving the growth of this segment.
The perioperative care segment to be the largest application segment of the market in 2019
Based on applications, the temperature management market is segmented into perioperative care, acute care, newborn care, and other applications. The perioperative segment is expected to dominate the market in 2019. The increasing number of surgical procedures performed worldwide is the major factor driving the growth of this application segment. In addition, technological advancements, the increasing number of product launches for the perioperative care segment, and a growing number of partnerships between key market players and hospitals are also supporting market growth.
The major companies in the global temperature management market include 3M Company (US), Medtronic (Ireland), Smiths Medical (US), Stryker (US), and ZOLL Medical (Subsidiary of Asahi Kasei) (Japan).
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