The Global Patient Temperature Management Systems Market is estimated to be valued at US$ 2.3 Billion in 2024 and is expected to exhibit a CAGR of 2.6% over the forecast period 2024-2031.
Patient temperature management systems help maintain normal body temperature in patients going through surgeries or trauma care. These systems primarily consist of cooling or warming systems along with accessories like probes, blankets, pads, and coils used for intravenous and surface warming therapy. Significant increase in surgical procedures and number of accidental and trauma cases is driving the Patient Temperature Management Systems Market Demand.
The devices and accessories in patient temperature management systems help prevent hypothermia and fever in patients. They ensure efficient thermal regulation during surgical procedures involving anesthesia when natural thermoregulation abilities are impaired. Rise in chronic illnesses among aging population also necessitates the use of these systems for temperature regulation in patients with low immunity.
Key Takeaways
Key players operating in the patient temperature management systems market are 3M Company, Medtronic plc, Smiths Medical, Stryker Corporation, ZOLL Medical Corporation.
Rising number of surgical procedures worldwide due to increasing medical tourism and demand for minimally invasive surgeries is a major factor driving the growth of patient temperature management systems market. Advancements in healthcare infrastructure and availability of health insurance has further fueled the demand.
Technological advancements in patient temperature management systems like surface cooling systems, blood temperature management systems and battery powered portable systems allowing flexibility in patient transport have augmented their adoption in hospitals and ambulatory care centers. Development of safe, less invasive and more effective systems will continue to support market growth over the forecast period.
Market Trends
Increased popularity of intravascular temperature management systems – Intravascular temperature management systems that can directly cool or warm the bloodstream is gaining prominence over other conventional systems due to its improved accuracy and faster response.
Growing demand for combined temperature management systems – Manufacturers are focusing on developing multifunctional temperature management platforms that integrate features for both warming and cooling in single units based on treatment needs.
Market Opportunities
Expanding application scope in new therapeutic areas – Growing adoption of these systems for neurosurgery, cardiac surgery and other complex interventions present significant opportunities.
Developing economies in Asia Pacific and Latin America – Emerging markets will drive the future market growth owing to rising medical expenditures, infrastructure and awareness. Several new players are also expected to enter these markets.
Impact of COVID-19 on Patient Temperature Management Systems Market Growth
The COVID-19 pandemic has drastically impacted the growth of the patient temperature management systems market. During the initial phases of the pandemic, elective surgeries and non-emergency procedures were postponed to free up medical resources for COVID-19 patients. This resulted in a decline in demand for temperature management systems from the operating rooms. However, as the virus multiplied exponentially, the need for critical care beds, ventilators and temperature management systems increased tremendously to effectively treat the vast number of infected patients exhibiting temperature abnormalities. With patients requiring prolonged hospitalization and intensive care, the demand as well as reliance on temperature management systems rose significantly.
Geographical Regions with High Concentration in Patient Temperature Management Systems Market
North America dominates the global market for patient temperature management systems market in terms of value. The region accounts for over 40% share of the overall market revenue. Wide availability of advanced healthcare facilities, growing elderly population undergoing surgeries and strong penetration of cutting-edge medical technologies have propelled the North American market. Additionally, presence of top market players and favorable reimbursement policies provide impetus to market growth. Furthermore, the ongoing pandemic has boosted North American market as temperature management became crucial for COVID care across countries like the US and Canada witnessing massive outbreaks.
Fastest Growing Region in Patient Temperature Management Systems Market
Asia Pacific is poised to be the fastest growing region in the global patient temperature management systems market during the forecast period. This is attributed to factors such as increasing healthcare expenditures, rising medical tourism, burgeoning middle class population undergoing surgeries and surge in awareness about specialty vital sign monitoring devices in Asia Pacific countries including China, India and Japan. Furthermore, growing geriatric population susceptible to chronic diseases and improving access to advanced therapies fuel the Asia Pacific market. The post pandemic growth is likely to be robust with resumption of elective surgeries as well as strong government focus on boosting healthcare infrastructure across emerging nations.
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