Global patient temperature management market is anticipated to reach a value of USD 4.6 billion by 2025, according to a new report by Grand View Research, Inc. Rising number of surgeries is anticipated to accelerate the demand for temperature management devices. For instance, open heart surgeries require lowering down of patient’s body heat through blood cooling, which helps in reducing the risk of post and perioperative surgical complications.
With growing prevalence of cardiac arrest and other chronic cardiac diseases, there is a rising number of surgeries being undertaken. Hence, this raises the need for patient temperature management, in order to avoid the adverse effects on brain. Patient warming systems are also used for cancer patients as adjuncts with chemotherapy and radiation therapy for more effective results. Moreover, in neonatal care, newborns are likely to experience temperature fluctuations and hence, they are kept in incubators to maintain their normal body temperature. As a result, the aforementioned factors are giving rise to high demand for temperature monitoring devices.
Advancements in technology have also enhanced the product portfolio of temperature management devices. For instance, 3M revolutionized its Bair Hugger brand, which includes a complete portfolio of blankets, such as underbody, full body, specialty, and others. The blood & fluid temperature management systems have also evolved with new technology, facilitating circulation of warm or cool saline with the help of a catheter to the patient’s body. Thus, rising technological advancements have led to high market growth.
Global patient temperature management market, by product, 2014 – 2025 (USD Million)
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Further key findings from the report suggest:
- Patient warming systems held the largest market share in 2016 due to high usage of these devices before surgery, when provided with general anesthesia
- Patient cooling systems are anticipated to exhibit lucrative CAGR over the forecast period due to the introduction of new products like cooling caps and blood & fluid cooling systems
- Surgery segment dominated the market share in 2016 due to increasing number of cardiac and gynecological surgeries across the globe
- In 2016, North America held the largest market share due to rising demand for technologically advanced products
- Asia Pacific is expected to show lucrative growth over the forecast period, due to increasing sedentary lifestyle resulting in cardiac related disorders
- Some of the major companies include Stryker Corporation; ZOLL Medical Corporation; Cincinnati Sub-Zero Products, LLC; Medtronic, Inc.; 3M Company; Bard Medical, Inc.; and The 37Company
- In 2014, Medtronic acquired Covidien plc with an aim to enter the temperature management business
For more information: http://www.grandviewresearch.com