Global Temperature Management Market
Global Temperature Management Market Overview:
The temperature management market is expected to record a CAGR of around 3% over the forecast period 2018-2023. With the increasing number of surgeries being performed in hospitals worldwide, there is a growing demand for temperature management devices that are used to manage human body temperature by regulating indoor recovery rooms, operation theaters, and other hospital room types.
The well-established healthcare infrastructure, with elevated new technology adoption rates and rising surgical centers, would assist North America dominate market share.
Rising Surgical Procedures Number:
The increasing amount of surgical procedures is a main driver for the temperature management industry. According to Eurostat 2017, many surgeries have been conducted in European nations, including cataract surgery and colonoscopy. This has seen a big rise in appendectomies and hysterectomies using keyhole surgery in latest years. Globally, cardiovascular and musculoskeletal procedures are also performed in most areas. This increases demand for use of temperature management systems in hospital rooms, ICUs, and other regions.
Other drivers for this market are increasing cancer and cardiovascular disease prevalence, the development of technologically advanced intravascular systems, and growing medical tourism.
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High-cost Temperature Management Systems:
Temperature management systems high price is one of the main limiting factors for this industry. Temperature management technologies such as endovascular techniques make the surgical procedure costly. Also, cost per treatment for single-use components increases. For instance, Arctic 5000 and its associated consumables are expensive and require experts to manage the medical device. Price pressure and absence of accessibility of qualified experts hinders this market.
Other factors impeding this industry include product recalls and temperature-management device errors.
Asia-Pacific Show Attractive Temperature Market Growth Rate:
The Asia-Pacific region is expected to show attractive growth during the forecast period due to high growth opportunities for the target population s unmet needs in this region. As medical tourism grows, nations like Malaysia, India, China, Thailand, and Japan are increasing in this industry. Due to well-developed healthcare infrastructure, healthcare equipment, and strong adoption of new technologies, the North American region is anticipated to dominate market share in the forecast period.
Global Temperature Management Market Key Developments:
- April 2018 — Boston Scientific Corporation acquired Securus Medical Group, Inc., which is involved in developing a continuous oesophageal temperature monitoring system.
- November 2017 — Qool Therapeutics, Inc. raised a USD 8 million A-1 series for targeted temperature management system to treat multiple vascular surgical conditions.
Global Temperature Management Market Key Players:
3M.
Atom Medical Corporation.
Becton.
Dickinson and Company.
Cincinnati Sub-Zero Products.
LLC.
Drägerwerk AG & Co. KGaA.
Geratherm Medical AG.
Medtronic Plc.
Smith Medical Inc.
Stryker.
Zoll Medical Corporation.
Reasons to Purchase Global Temperature Management Market Report:
In advanced and emerging economies, current and future Global Temperature Management Market perspective. Analysis of multiple market views with Porter s five-force analysis. Segment expected to dominate the market. Regions expected to experience the highest development in the prediction era. Identify the recent trends, market shares and strategies of significant market players. 3-Month Analyst Support and Market Estimate Excel.
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