Global Temperature Management Market Was Valued at USD 2,393.8 Million in 2020, Increasing Prevalence of Cancer and Cardiovascular Diseases

Global Temperature Management Market by Product Type (Patient Warming Systems and Patient Cooling Systems), By Application (General Surgery, Cardiology, Neurology, Pediatrics, Thoracic Surgery and Orthopedic Surgery), By End User (Operating Rooms, Intensive Care Units, Emergency Rooms and Others) and Geography- Temperature Management market is estimated to be valued USD 2,393.8 million in 2020 and poised to grow at significant CAGR of 7.3% over 2026-2021, to reach USD 3,398.7 million by 2026.

Global Temperature Management Market by Product Type (Patient Warming Systems and Patient Cooling Systems), By Application (General Surgery, Cardiology, Neurology, Pediatrics, Thoracic Surgery and Orthopedic Surgery), By End User (Operating Rooms, Intensive Care Units, Emergency Rooms and Others) and Geography- Global/Region/Country Forecast to 2026.

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Patient Warming Systems Dominate the Temperature Management Market
Based on product type, patient warming systems accounted 80.9% market share in 2020 and it is expected to grow with a CAGR 5.0% from 2021-2026. Growth in the number of surgical interventions, increasing occurrence of cardiovascular diseases, rising elderly population, technological improvements and growing consciousness among both patients and care givers are some key factors boosting the market growth.

North America leads Temperature Management Market
North America holds the market share of 38.1% in 2020 in the temperature management market during the forecast period and it is expected to increase in the coming years owing to availability of new technologies, development of healthcare system, growing reimbursements and increasing healthcare expenditure. USA is the major contributor for the growth of the market in the region. Asia Pacific held highest CAGR of 9.1 % during the estimated period due to the presence of emerging economies, including India, China. Also, positive government initiatives to revise healthcare infrastructure together with the increasing number of hospitals also drives the market in the region.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Temperature Management market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In 2021, The Surgical company made an agreement with Next Level Development TSC-PTM develops, produces and globally distributes specialist medical equipment for the prevention of hypothermia and the warming of patients undergoing surgery.

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Key player’s profiles in the report are 3M (US), Smiths Medical (US), Becton, Dickinson and Company (US), Drägerwerk (Germany), Ecolab (US), ZOLL Medical (US), GE Healthcare (US), Gentherm (US), Geratherm Medical (Germany), Inspiration Healthcare (UK), Medtronic (Ireland), Stryker Corporation (US), The 37Company (Netherlands), Adroit Medical Systems (US), Attune Medical (US), Augustine Surgical (US), Belmont Medical Technologies (US), Biegler GmbH (Germany) and Encompass Group (US).

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