Yahoo Finance Temperature Management Global Market Report 2023
Major players in the temperature management market are 3M Company, Becton, Dickinson and Company, Draegerwerk AG & Co.KGaA, Smiths Medical, Stryker Corporation, The 37company (The Surgical Company), Zoll Medical Corporation (A Subsidiary of Asahi Kasei Corporation), C.
New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Temperature Management Global Market Report 2023" - https://www.reportlinker.com/p06280850/?utm_source=GNW
R. Bard, Mennen Medical, and Medtronic (COVIDien).
The global temperature management market is expected to grow from $2.65 billion in 2021 to $2.75 billion in 2022 at a compound annual growth rate (CAGR) of 3.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The temperature management market is expected to grow to $3.02 billion in 2026 at a CAGR of 2.4%.
The temperature management market consists of revenues earned by entities by real-time environmental and temperature monitoring and ensure patient safety.The market value includes the value of related goods sold by the service provider or included within the service offering.
The temperature management market also includes sales of warming devices and cooling devices.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The temperature management control and maintain specific body temperature through external warming or cooling for a specific duration. The temperature management devices are used in operation theatres during surgeries, ICU, blood warming, and in other chronic conditions such as cardiac ailments, neurological disorders, and cancer.
North America was the largest region in the temperature management market in 2022.Western Europe was the second largest region in the temperature management market.
The regions covered in the temperature management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The temperature management market covered in this report is segmented by product into patient warming devices and patient cooling devices.The patient warming devices are used to maintain specific body temperature through external warming.
It is also segmented by application into surgery, cardiology, pediatrics, neurology, orthopedic surgery, others and by end-use into the operating room, neonatal ICU, emergency room, ICUs, and others.
A rise in the prevalence of chronic diseases is expected to drive the temperature management market.For instance, in 2020, Cancer was the leading cause of death accounting for nearly 10 million deaths worldwide.
A decrease in temperature increases the inflammation or multiplying of cancer cells in patients.It also acts as a predictor of death for critically ill cancer patients.
Hyperthermia, a type of treatment that uses a high temperature, is therefore used for treating cancer patients. Therefore, maintaining temperature for patients with chronic diseases helps in decreasing the infection and saving lives which in turn drives the temperature management market.
The risk associated with the use of invasive temperature management devices is expected to hinder the temperature management devices.For instance, during the targeted temperature management post-cardiac arrest, the use of invasive temperature management devices is associated with certain risks like an injury at the area of placement, infection, and venous thrombosis.
Similarly, surface cooling systems that use blankets or pads wrapped around the patient that circulates cold air or fluid include the rare risk of skin burns and irritation, as well as the risk of overshooting the target temperature in the induction phase. Such risk factors, therefore, are expected to impact the growth of the temperature management market.
Wearables are evolving at a rapid pace and are expected to be the new trend in the temperature management system market.Heat due to power consumption causes both circuit malfunctions and low-temperature burns to users.
Therefore, researchers are proposing thermal management methods using wearable devices with higher performance.A wearable device is a patch that controls the temperature of the patient’s body as per the wearer’s preference.
For instance, the company Embr Labs has released a watch or bracelet called Embr Wave that makes the person feel warmer or cooler based on his preference, thereby acting as a personal thermostat.
The countries covered in the temperature management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The temperature management market research report is one of a series of new reports that provides temperature management market statistics, including temperature management industry global market size, regional shares, competitors with a temperature management market share, detailed temperature management market segments, market trends and opportunities, and any further data you may need to thrive in the temperature management industry. This temperature management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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