Temperature Management Market Was Valued at USD 2,639.5 million in 2021 Owing to Rise In The Prevalence Of Chronic Diseases

According to Precision Business Insights (PBI) latest report the global temperature management market is valued at USD 2,639.5 million in 2021. Global temperature management market segmented into following types: By Product Type (Patient Warming Systems, and Patient Cooling Systems), By Application (Cardiology, Orthopedics, Neurology, and Other), By End User (Operating Rooms, Intensive Care Units, Emergency Rooms, and Others), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East Africa) Forecast to 2028. Key player's profiles in the temperature management market report are 3M Company, Smiths Medical, ZOLL Medical, Becton, Dickinson, and Company, Drägerwerk, Gentherm, Geratherm Medical, Inspiration Healthcare, Stryker Corporation, Adroit Medical Systems, Attune Medical, Augustine Surgical, Belmont Medical Technologies, Biegler GmbH. Intravascular temperature management devices allow patients' core body temperatures to be managed quickly, safely, and effectively. These systems and accessories, however, are much more expensive than non-invasive systems and accessories. The market for temperature management systems may be hampered because of this.

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Patient Cooling Systems Segment Dominates the Temperature Management Market:
Temperature control systems are employed in various settings, including acute care, perioperative care, and infant care. Because of the increased demand for these systems in hospital settings, the patient cooling systems segment of the market examined is likely to contribute positively to market growth. In the projection term, the number of agreements and contracts between significant participants (manufacturers and distributors) will give growth potential. The temperature management market is also fueled by the rising frequency of cardiovascular disease and the growing elderly population.

North America Leads Temperature Management Market
Because of increased demand for technologically complex products, the rising number of heart procedures, and rising healthcare spending in the United States, the North American region is predicted to dominate the global temperature management market over the forecasted period. Furthermore, due to an increase in unhealthy lifestyles leading to cardiac-related disorders, the Asia Pacific area is expected to grow significantly during the projection period.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global temperature management market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In October 2021, Attune Medical, a pioneering medical device company with a technology platform based on temperature management using the esophageal space, has added Ty Miller to the management team as National Sales Director. Miller has decades of award-winning commercial sales management experience with successful initiatives in gaining clinical acceptance and adoption of pioneering disruptive medical device technologies and procedures. In April 2021, Belmont Instrument, LLC, d.b.a. Belmont Medical Technologies a leading provider of fluid resuscitation and patient temperature management solutions, was awarded an Indefinite Delivery/Indefinite Quantity (IDIQ) Contract with a potential maximum dollar value of up to $133,570,787 from the US Defense Logistics Agency on December 16, 2020, for a hospital and portable rapid blood infuser product line, military kits, and associated consumables and accessories.

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Detailed Segmentation
Based on the Product Type, the market is segmented into the following:
• Patient Warming Systems
• Patient Cooling Systems

Based on the Application, the market is segmented into the following:
• Cardiology
• Orthopedics
• Neurology
• Other

Based on the End-user, the market is segmented into the following:
• Operating Rooms
• Intensive Care Units
• Emergency Rooms
• Others

Based on the geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA
• Rest of MEA

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