Impact Analysis of Covid-19
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Global Patient Temperature Management Systems Market, by Product Type (Patient Warming Systems (Conventional Warming Systems, Surface Warming Systems, and Intravascular Warming Systems) and Patient Cooling Systems (Conventional Cooling Systems, Surface Cooling Systems, and Intravascular Cooling Systems)), by Application (General Surgery, Cardiology, Neurology, Pediatrics, and Others), by End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 2.6 billion in 2017 and is estimated to exhibit a CAGR of 2.5% over the forecast period (2018-2026).
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Patient temperature management systems are utilized to manage hypothermic or hyperthermic conditions of patients during surgical procedures and other medical conditions. Temperature monitoring and its maintenance in normal range is important in patient care during hospitalization. Moreover, traditional methods of temperature management such as blankets and cooling pads are increasingly replaced by intravenous temperature management methods. In addition, current conventional patient temperature management systems have wide application of the blankets and cooling pads.
The increasing number of product launches by major players and regulatory product approval in patient temperature management system market are the factors that are expected to drive the market growth over the forecast period. For instance, VitaHeat Medical, LLC, a private medical device company, launched VitaHeat UB3 patient warming system, the company’s innovative technology that warms the patient’s body using patented conductive ink technology in the form of thin mattress, in 2016. Furthermore, in 2018, BrainCool, a Sweden-based company, received the FDA approval for the IQool Warm System, which can be used for both cooling and reheating of the body using pads placed around the head, neck, thighs, and torso. Similarly, in 2018, Inspiration Healthcare received CE approval for its Inditherm Alpha patient warming system.
Browse Market Data 32 Tables and 30 Figures spread through 150 Pages and in-depth TOC on “Patient Temperature Management Systems Market, by Product Type (Patient Warming Systems (Conventional Warming Systems, Surface Warming Systems, and Intravascular Warming Systems) and Patient Cooling Systems (Conventional Cooling Systems, Surface Cooling Systems, and Intravascular Cooling Systems)), by Application (General Surgery, Cardiology, Neurology, Pediatrics, and Others), by End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
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Furthermore, market players are focusing on strategic collaborations, agreements, and mergers, and acquisitions, which are expected to drive the patient temperature management systems market growth over the forecast period. For instance, in 2014, Zoll Medical Corp., a medical device and related software manufacturer acquired temperature management business from Philips Healthcare. Under the acquisition, InnerCool temperature management business, which comprises RTx Endovascular System, the Accutrol catheter, and the CoolRepeat, and STx Surface Cooling Systems, have regulatory approval in the U.S.
Key Takeaways of the Patient Temperature Management Systems Market:
- The global patient temperature management system market is expected to exhibit a CAGR of 2.5% over the forecast period (2018-2026), attributed to increasing product launches by key players
- Among product type, patient warming systems segment is expected to hold a dominant position in the market over the forecast period, attributed to increasing number of products and its wide application during surgeries
- Among application, general surgery segment is expected to hold a dominant position in the market over the forecast period, as general surgeries cover a wide array of surgeries with large patient pool undergoing these surgeries
- Key players operating in the global patient temperature management systems market include 3M Company, Cincinnati Sub-Zero Products, LLC, C.R. Bard, Inc., Zoll Medical Corporation, Smith Medicals, Stryker Corporation, Medtronic plc, and The 37Company, among others
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