Temperature Management Market by Product, Application, End User, Medical Specialties - Forecast to 2022
NEW YORK, July 24, 2017 /PRNewswire/ -- The global temperature management market is estimated to grow at a CAGR of 2.5% from 2017 to 2022, to reach USD 2.72 billion by 2022. Rising geriatric population, rising incidence of chronic conditions, and development of technologically advanced intravascular systems are some of the key factors driving the market. The sustainability of key players in this highly competitive market and increase in bulk purchasing are the major challenges.
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The patient cooling systems segment is expected to grow at the highest CAGR
On the basis of product, the temperature management market is segmented into patient warming systems and cooling systems. The patient cooling systems segment is expected to witness the highest growth during the forecast period. The growth of this segment is mainly due to their benefits in out-of-hospital settings.
The general surgery segment to dominate the global temperature management market during the forecast period
Based on medical specialty, the temperature management market is further classified into general surgery, cardiology, neurology, thoracic surgery, orthopedics, pediatrics, and other medical specialties. The orthopedics segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to growing number of knee and hip replacement procedures, rising prevalence of arthritis and musculoskeletal disorders, and increasing number of sports injury cases.
The acute care segment is projected to grow at the highest CAGR during the forecast period.
Based on application, the temperature management market is further segmented into perioperative care, acute care, newborn care, medical/surgical units, physiotherapy, military applications, patient transport, chemotherapy, and other applications. During the forecast period, the acute care segment is expected to register the highest CAGR. This growth is mainly due to the severity of illnesses among patients aggravating after hospitalization is contributing to the increasing need for acute care.
By end user, the surgeons and anesthesiologists segment held the largest market share in 2017
Based on end user, the temperature management market is segmented into surgeons and anesthesiologists, nursing staff, and paramedical staff. In 2017, the surgeons and anesthesiologists segment is expected to account for the largest share of the temperature management market. The large volume of surgical procedures performed across the globe is the major factor supporting the growth of this segment.
Asia-Pacific to witness the highest growth during the forecast period (2017-2022)
North America held the largest share of the global temperature management market in 2017, while Asia-Pacific is expected to witness the highest growth during 2017 to 2022. Growing demand for cosmetic surgeries, rising incidence of cardiac arrests and CNS disorders, government efforts to increase access to elective surgeries, and improving healthcare infrastructure are driving the growth of the temperature management market.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–25%, Tier 2–35%, and Tier 3–40%
• By Designation – C-level–22%, Director Level–33%, Others–45%
• By Region – North America–30%, Europe–40%, Asia-Pacific–15%, RoW–15%
Some of the major market players in the temperature management market are 3M Company (U.S.), Medtronic plc (Ireland), Smiths Medical (U.S.), C.R. Bard Inc. (U.S.), Cincinnati Sub-Zero Products, Inc. (U.S.), Geratherm Medical AG (Germany), Inspiration Healthcare Group plc, (U.K.), Stryker Corporation (U.S.), The 37Company (Netherlands), ZOLL Medical Corporation (U.S.), GE Healthcare (U.S.), Becton, Dickinson and Company (U.S.), DRÄGERWERK AG & CO. KGAA (Germany), and Ecolab (U.S.).
Research Coverage:
The report analyzes the temperature management market and aims at estimating market size and future growth potential of this market based on various segments such as by product, medical specialty, application, end user, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the global temperature management market. The report analyzes the global temperature management market by product, medical specialty, application, end user, and region.
• Innovation: Detailed insights on upcoming trends and product launches in the global temperature management market.
• Market Development: Comprehensive information on the lucrative emerging markets by product, medical specialty, application, end user, and region.
• Market Diversification: Exhaustive information about growing geographies, recent developments, and investments in the global temperature management market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and capabilities of temperature management devices of leading players in the global market.
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