Patient temperature management systems offer several advantages in the medical parlance, such as reducing the blood loss during surgeries, lowering the risk of neurological disorders after cardiac arrest and for aiding in a rapid recovery post-surgery.
Due to such kind of benefits, the hospital stay of patients is cut down to bare minimum, thereby reducing the healthcare costs overall. The rising number of surgeries all over the world is a major driver of the patient temperature management systems market.
For example, during an open heart surgery, the lowering down of patient’s body heat is essential, and this is achieved through the process of blood cooling, which helps in reducing the complications before and after the surgery.
On the other hand, patient warming systems are used in the treatment of cancer patients who are undergoing chemotherapy or radiation therapy for more effective results.
Patient temperature management systems also have applications in neonatal care, where the temperature of new born babies is regulated by keeping them in incubators.
However, most of the patient temperature management systems come with a high cost, and this factor may restrain the market growth.
Patient temperature management systems are used for monitoring and controlling of the body temperature of patients. Patients may require the raising or lowering of their body temperature as per the type of medical conditions they are suffering from.
Some surgeries require cooling of the body temperature for preventing blood loss. In some chemotherapy and radiation therapy treatments in cancer patients, body temperature is raised for more effective treatment.
This Fact.MR report on the global patient temperature management systems market forecasts that the global patient temperature management systems market will touch a value of nearly US$ 2,860 Mn in the year 2022 and grow at a steady CAGR during the assessment period.
North America Market Set to Dominate the Global Patient Temperature Management Systems Market in Terms of Revenue
The market in North America is set to dominate the global patient temperature management systems market in terms of value and this trend is projected to sustain itself throughout the assessment period.
North America patient temperature management systems market is the most attractive market, growing at a steady CAGR over the assessment period.
Conventional Warming Systems Segment Poised to Touch a Value of Nearly US$ 1,050 Mn in 2022
As per the forecast of Fact.MR, the conventional warming systems segment is expected to reach a value of nearly US$ 1,050 Mn in the year 2022. This represents a steady CAGR during the forecast period of 2017-2022.
Conventional warming systems segment is expected to account for more than one-third of the revenue share of the product type segment by the year 2017 and is expected to lose market share by the end of the year 2022.
Hospitals End User Segment to exhibit a CAGR of 5.2% During the Assessment Period
As per the forecast of Fact.MR, the hospitals end user segment is slated to touch a figure of nearly US$ 1,590 Mn in the year 2022. This represents a CAGR of 5.2% during the assessment period from 2017 till the year 2022.
This segment is expected to lose market share by the end of the year 2022. The hospitals end user segment is expected to account for more than half of the revenue share of the end user segment by the year 2017.
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The report also profiles companies that are expected to remain active in the expansion of global patient temperature management systems market through 2022, which include
- Gentherm Incorporated
- C. R. Bard Inc.
- Inspiration Healthcare Group plc
- Medtronic plc
- Smiths Group plc
- Stryker Corporation
- Asahi Kasei Corporation and 3M Company.
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
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