Market Insights: Temperature Management Systems Expected To Reach $3.9 Billion By 2028

By Author: Markets and Markets
Total Articles: 161
Comment this article

The global temperature management systems market is projected to reach USD 3.9 Billion by 2028 from USD 3.0 Billion in 2023, at a CAGR of 4.9% during the forecast period.

https://www.marketsandmarkets.com/Market-Reports/temperature-management-market-141546773.html

Growth in the temperature management systems market is mainly driven by the increasing prevalence of chronic and infectious diseases which leads various the rising number of surgical procedures. Hypothermia is a common condition observed in surgical procedures due to the usage of anaesthesia; therefore, it leads to increasing number of hypothermia cases expected to grow the market demand of the temperature management systems market during the forecast period.

Download a PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=141546773

Based on the Product, The Temperature Management Systems market, by product, has been segmented into patient warming systems which sub categorized into Surface Warming Systems further categorized into Connective Warming Systems and Conductive warming systems and Intravascular warming systems, ...
... patient cooling systems which sub categorized into surface cooling systems and Intravascular cooling Systems and accessories for patient warming/cooling systems. Patient warming systems will drive the growth of the market due to increasing number of hypothermia cases and the growing number of surgical procedures in the countries is another major factor driving the demand for temperature management systems.

Based on the Application, the global Temperature Management Systems market is broadly segmented into Perioperative care, acute care, newborn care, and other applications. Perioperative care is expected to grow highest in the upcoming years due to the increasing number of surgical procedures performed worldwide is the major factor driving the growth of this application segment. Technological advancements, product developments and launches, and growing partnerships between key market players and hospitals are also supporting market growth.

Based on the Medical Speciality Temperature Management Systems is categorized into various segments like general surgery, cardiology, neurology, thoracic surgery, orthopaedic surgery, paediatrics, and other medical specialties (such as ophthalmic, bariatric, and cosmetic surgeries). General surgery is expected to have a highest growth in the upcoming years. The increasing number of general surgery procedures performed in the hospital while lead to the increase demand for the temperature management systems in the ICUs, NICUs and operating rooms.

Based on the region segmentation, the Temperature Management Systems market is divided into North America, Europe, Asia Pacific, and the Rest of the World. North America holds the largest share and expects to dominate the Temperature Management Systems market. Growth in the North American market is mainly driven by the Increasing usage of Increasing growth opportunities in emerging economies and Growing number of contracts and agreements between market players.

3M Company (US), GE Healthcare (US), Dragerwerk AG & Co. KGAA (Germany), Ecolab (US), Asahi-kasei Corporation (Japan), Becton, Dickinson and Company (US), ICU Medical (US), Gentherm Incorporated (US), Inspiration Healthcare Group PLC (UK), Medtronic PLC (Ireland), Stryker Corporation (US), The Surgical Company (Netherlands), Adroit Medical Systems (US), Attune Medical (US), Augustine Surgical, Inc (US), Belmont Medical Technologies (US), Biegler GMBH (Austria), Encompass Group, llc (US), Enthermics, INC (US), Hirtz & Co. KG (Germany), Istanbul Medikal ltd. (Istanbul), Life Recovery Systems (US), Medcare Visions (Germany), TahatAksi (Belarus) and Beijing Eternal Medical Technology Co., Ltd (China)

Recent Developments of Temperature Management Systems Industry

In June 2023, Dragerwerk AG & Co. KGAA has launched the FDA-cleared Babyroo TN300, a new open warmer that offers supportive lung protection and temperature stability from the moment of birth through discharge.

In July 2023, Asahi-kasei Corporation (Japan) signed an agreement with BrainCool, a medical device company specializing in temperature management solutions, for the exclusive distribution of the BrainCool System/IQool System and the IQool System Pads in the US and key markets in Europe. The companies are working toward expanding distribution to select markets in Asia.

In January 2022, ICU Medical completed the acquisition of Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical’s existing businesses, the combined companies create a leading infusion therapy company with estimated pro forma combined revenues of approximately USD 2.5 billion.

In July 2022, Gentherm acquired Jiangmen Dacheng Medical Equipment Co., Ltd., a manufacturer of medical materials and medical equipment, including patient temperature management solutions.