Temperature Management Market 2,576.8 Million USD By 2020
PUNE, India, January 12, 2016 /PRNewswire/ --
According to a new market research report "Temperature Management Market by Product (Surface & Intravascular Systems - Warming & Cooling), Application (Acute & Perioperative Care), (Surgeon & Anesthesiologist, Nursing staff), Medical Specialties (Pediatric, Orthopedic, Neurology) - Forecast to 2020", published by MarketsandMarkets, The Market is poised to reach USD 2,576.8 Million by 2020 from USD 2,302.7 Million in 2015, at a CAGR of 2.3% from 2015 to 2020.
Browse 201 market Tables and 71 Figures spread through 203 Pages and in-depth TOC on "Temperature Management Market"
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The market report provides a detailed overview of the major drivers, restraints, threats, opportunities, current market trends, and strategies impacting the market along with estimates and forecasts of revenue.
A number of factors such as the worldwide development of technologically advanced temperature management systems, increase in aging population (which in turn is increasing the demand for age-related surgeries), and growing prevalence of cancer and cardiovascular diseases is propelling the growth of the global temperature management market. However, unfavorable healthcare reforms in the U.S., product recalls, and rising price pressure on market players are some major factors restraining the growth of this market. In addition to this, the stringent regulatory policy in developed countries is a key challenge faced by market players in the temperature management market.
On the basis of type of product, the global temperature management market has been divided into two major segments, namely, patient warming and cooling systems. The patient warming systems segment is further classified into surface warming systems (convective and conductive systems), intravascular warming systems, and patient warming accessories. Likewise, the patient cooling systems segment is further divided into surface cooling systems, intravascular cooling systems, and patient cooling accessories. The patient warming systems segment is expected to account for the largest share of the global temperature management market in 2015. Furthermore, the patient cooling systems segment is expected to grow at the highest CAGR in the next five years, primarily owing to technological advancements in the field of intravascular temperature management (IVTM) systems, and numerous growth strategies followed by market players.
On the basis of type of application, the global temperature management market is classified into four major segments, namely, acute care, perioperative care, newborn care, and other applications. The perioperative care applications segment is expected account for the largest share of the global temperature management market in 2015. The acute care applications segment is expected to grow at the highest CAGR in the next five years, owing to rising number of technologically advanced new product launches.
Based on Medical Specialty, The market is divided into eight broad categories, namely, general surgery, cardiology, neurology, thoracic surgery, orthopedics, pediatrics and others (ophthalmic surgery, bariatric surgery, and cosmetic surgery). Orthopedics segment is expected to be the fastest growing segment, owing to the growing adoption of a sedentary lifestyle and increasing incidences of work-related musculoskeletal disorders.
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On the basis of type of end user, the global temperature management market is classified into three segments, namely, surgeons and anesthesiologists, nursing staff, and paramedical staff. The surgeons and anesthesiologists end-user segment is expected to account for the largest share of the global temperature management market in 2014. Furthermore, the paramedical staff end-user segment is expected to grow at the highest CAGR in the next five years, owing to increased adoption of temperature management systems during surgeries due to the benefits of patient warming and cooling systems.
3M Company (U.S.), C.R. Bard, Inc. (U.S.), Cincinnati Sub-Zero Products Inc. (U.S.), Medtronic PLC (U.S.), Geratherm Medical AG (Germany), Inditherm Plc (U.K.), Smiths Group Plc (U.S.), Stryker Corporation (U.S.), and ZOLL Medical Corporation (U.S.) are the key players operating in the global Temperature Management Market.
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