The Global Patient
Temperature Management Market research
report interprets definition, an investigation of significant progress in the industry.
It provides overall industry survey, product description, wide array of
applications, top players, and development forecast. It enhances understanding
about that market along with new business trends.
Industry Insights
The global patient
temperature management market size was worth USD 2.3 billion in 2016 which is
anticipated to grow at a CAGR of more than 7.9% during the forecast period. The
key factor contributing to the market growth of patient temperature management is
the rise in number of surgeries performed. Pre-surgery anesthesia administered
to the patients lowers their body temperature. To prevent this, warming devices
are used to eliminate intraoperative hypothermia.
The rising prevalence of
heart diseases such as cardiac arrest has increased the demand for patient
temperature management in order to prevent adverse effects of high temperature
on the brain and prevent further complications.
Based on products, the
market is categorized into patient cooling and warming systems. Each category
is further sub-divided as surface systems, conventional systems and
intravascular systems. In 2016, patient warming systems dominated the market
due to the increase in number of surgeries being conducted. These surgeries require
anesthesia, which lowers the temperature of the patients’ body.
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Main features of the report:
·
To provide
detailed analysis of the market structure along with forecast of the various
segments and sub-segments of the global Patient temperature management Market.
·
A complete
backdrop analysis, which includes an assessment of the parent market
·
Important
changes in market dynamics
·
Market
segmentation up to the second or third level
·
To provide
country level analysis of the market for segment by application, product type
and sub-segments.
·
To provide
strategic profiling of key players in the market, comprehensively analyzing
their core competencies, and drawing a competitive landscape for the market.
·
Track and
analyze competitive developments such as joint ventures, strategic alliances,
mergers and acquisitions, new product developments, and research and developments
in the global Patient temperature management Market.
·
Emerging
niche segments and regional markets
·
An
objective assessment of the trajectory of the industry.
Application Insights
On the basis of
application, surgery segment held the largest market in 2016. This is due to
the rise in number of surgical procedures such as gynecological and cardiac
surgeries. Temperature management systems are mostly used in pre-, post- and
perioperative surgeries.
Cardiology segment is
expected to witness lucrative growth over the forecast period due to the
increasing prevalence of cardiovascular diseases. According to Centers for
Disease Control and Prevention (CDC), around 610,000 people in the US die of
heart disease every year. Cardiovascular disease such as cardiac arrest and
heart stroke requires cooling systems. This causes the growth of temperature
management devices in the US.
End-use Insights
Based on end-use, the
market is categorized into neonatal ICU, operating room, ICUs, emergency room
and others. Operating room dominated the market in 2016 and is projected to
witness high growth over the forecast period. This is due to the need for
warming and cooling systems in operating rooms for maintaining the body
temperature of the patient before, after and during surgery to avoid any kind
of surgical complications.
In 2016, neonatal ICU held
the second largest market share due to rise in number of childbirth and
premature deliveries. This is expected to further increase the demand of
temperature management tools in neonatal ICU.
Regional Insights
On the basis of region,
North America dominated the market in 2016 due to rising number of cardiac
surgeries. The rising awareness level among people and increase in healthcare
expenditure also contributes to the growth of the market. Advancement in
technology in temperature management systems has increased the penetration in
the U.S.
Asia Pacific is expected to
witness rapid growth over the forecast period. This is due to the untapped
market in the developing countries such as China and India. The increase in
healthcare expenditure and increasing disposable incomes also contributes to
the growth of this market.
Competitive Insights
Some of the key companies
of this market are Stryker Corporation; Cincinnati Sub-Zero Products,LLC ; ZOLL
Medical Corporation; The 37Company; Bard Medical, Inc.; 3M Company; Inditherm Plc; Medtronic, Inc.; and Atom
Medical Corporation among others.
Few strategic initiatives
undertaken by the key players include mergers and acquisitions, new product
development, and geographic expansions. For instance, in order to expand the
product portfolio of temperature management systems, ZOLL Medical Corporation
entered into an agreement with Philips InnerCool with an aim to buy its
temperature management business segment.
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