The global intravascular warming systems market is expected to reach a value of USD 565.4 million by 2025, according to a new report by Grand View Research, Inc. Increasing number of surgical procedures is the most significant factor projected to boost the growth of the market during the forecast period. According to the WHO, around 266.2 to 359.5 million surgeries were performed globally in 2012 and this number is expected to increase in the near future. This in turn results in the need for intravascular warming products pre-, intra-, and postoperatively.
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Rising adoption of technologically advanced medical devices by operating rooms, ICUs, and emergency rooms is another major factor contributing to the growth of the market. The manufacturers are focusing on developing better in-line intravascular warming systems, which facilitate rapid flow of normothermic blood and intravenous fluids. The portability feature of these product also facilitates convenient usage during trauma or while transporting a patient to the hospital. Thus, the popularity of these devices is growing at a rapid pace, which is expected to propel the growth of the market.
Further Key Findings from the Study Suggest:
Perioperative care was the largest revenue-generating segment in 2015 in the intravascular warming systems market. This is due to rising adoption of technologically advanced medical devices in operating rooms and ICUs.
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The acute care segment is expected to grow at highest rate during forecast period, owing to increasing adoption of intravascular warming systems for the treatment of accident and trauma patients.
In 2015, operating rooms segment held the largest revenue share in this market, owing to the increasing number of surgical procedures worldwide.
The emergency rooms segment is expected to grow at high pace during the study period, due to escalating number of patients requiring emergency medical care.
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North America held the largest share in the year 2015. The factors that can be attributed to such growth include well-developed healthcare infrastructure and high incidence of hypothermia & related death rates in countries like the U.S.
Asia Pacific is expected to grow at a lucrative CAGR owing to rising number of surgical procedures due to large number of road accident cases in India and China.
Some of the key players include Stryker Corp.; 3M; The 37 Company; Smiths Medical, Inc.; Geratherm Medical AG; Inditherm Plc.; Becton, Dickinson and Company; and Estill Medical Technologies, Inc.
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