Temperature Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Temperature Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The rising number of surgical procedures is one of the primary drivers for the temperature management market. According to Eurostat 2017, a high number of surgeries were performed in European countries, including cataract surgery and colonoscopy. With that, a large increase in recent years has been observed in appendectomies and hysterectomies using keyhole surgery. Also, globally cardiovascular along with musculoskeletal operations are done majorly in most of the regions. This raises the demand for temperature management devices usage in hospital rooms, intensive care units (ICUs), and other areas. Other driving factors for this market are rising prevalence of cancer and cardiovascular diseases, development of technologically advanced intravascular systems, and growing medical tourism.

The high cost associated with temperature management systems is one of the major restricting factors for this market. The surgical procedure becomes expensive due to the use of temperature management systems such as endovascular methods. The cost per treatment for single-use components also increases. For example, Arctic 5000 and its related consumables are costly and require a team of specialists to handle the medical device. Thus, the price pressure and lack of availability of trained professionals impede this market.

Key Market TrendsPatient Cooling Systems segment is expected to grow in the forecast period

Temperature management systems are used in different applications such as acute care, perioperative care, newborn care etc. The patient cooling systems segment of the market studied is expected to have a positive contribution to market growth due to the growing demand for these systems in hospital settings. The number of agreements and contracts between the major players (manufacturers and distributors) will offer growth opportunities in the forecast period. Additionally, increasing prevalence of cardiovascular disorder and rising geriatric also fuels the temperature management market.

North America is expected to dominate the Market

The North American region is expected to dominate the market in the forecast period due to the well-developed healthcare infrastructure, healthcare facilities, and high adoption of new technologies.

Asia-Pacific region is also expected to show attractive growth over the forecast period due to the presence of high growth opportunities for the unmet needs of the target population, and growing medical tourism in Asian countries.

Favorable government initiatives to modernize healthcare infrastructure coupled with the increasing number of hospitals is also expected to positively impact the temperature management market.

Competitive Landscape

The major players in the Temperature Management Market include – 3M, Atom Medical Corporation, Becton, Dickinson and Company, Cincinnati Sub-Zero Products, Drägerwerk AG & Co. KGaA, Geratherm Medical, Medtronic PLC, Smith Medical, Stryker Corporation, and Zoll Medical Corporation.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

3M
Atom Medical Corporation
Becton, Dickinson and Company
Cincinnati Sub
Zero Products, LLC
Dragerwerk AG & Co. KGaA
Geratherm Medical AG
Medtronic PLC
Smith Medical Inc.
Stryker Corporation
Zoll Medical Corporation