Patient Warming Devices Market : Emergence Of Advanced Technologies And Global Industry Analysis 2023!!

The global patient warming devices market has been studied based on major product/device segments, application segments, and their regional as well as national markets. Based on product type, the global market has been categorized into three major segments: surface warming systems, intravascular warming systems, and patient warming accessories. Based on applications, the patient warming devices market has been categorized into four major segments: acute care, perioperative care, new born care, and others. The market for these segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence. Market revenue in terms of US$ Mn for the period from 2013 to 2023 along with the compound annual growth rate (CAGR %) from 2015 to 2023 are provided for all segments, considering 2014 as the base year.

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Geographically, the patient warming devices market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Each regional market for patient warming devices has been further categorized into major national markets such as the U.S, Canada, Germany, the U.K., Japan, China, and Brazil. Market revenue in terms of USD million for the period from 2013 to 2023 along with CAGR % from 2015 to 2023 are provided for all the regions and nations considering 2014 as the base year.

Rising Geriatric Population in North America Boosts Sales of Patient Warming Devices

Regionally, North America has been exhibiting the most attractive opportunities for patient warming devices manufacturers around the world. The region emerged dominant in the global market with a share of 46% in 2014. The U.S. and Canada have emerged as the largest markets for patient warming devices in North America. The increasing surgical procedures conducted yearly have been fuelling demand for patient warming devices across the U.S. This country is thus expected to remain lucrative for leading manufacturers through the forecast period.

Furthermore, the rising geriatric population will also bolster growth opportunities for the patient warming devices market in North America. As per TMR, this regional market is expected to reach US$1.14 bn by 2023, from US$749.4 mn in 2014. The patient warming devices market in North America is forecast to report a CAGR of 4.7% between 2015 and 2023.

In Europe, the market is expected to gain from the rising prevalence of chronic ailments among the aging population. The well-established healthcare infrastructure in Europe also augurs well for the patient warming devices market in the region.

However, as per TMR, the Asia Pacific market for patient warming devices is likely to prove the most lucrative in the forthcoming years. The region currently boasts a booming medical tourism industry. The overall number of surgical interventions conducted in the region yearly has also increased considerably. The demand for patient warming devices is thus expected to rise at the highest pace in Asia Pacific. Furthermore, the increasing healthcare spending witnessed across emerging economies such as India and China will boost demand for patient warming devices in the region. TMR forecasts the patient warming devices market in Asia Pacific to rise at a CAGR of 6.6% between 2015 and 2023.

Patient Warming Devices Market: Key Trends

Due to the rising incidence of chronic ailments, the number of surgeries conducted globally is expected to surge in the forthcoming years. This will create increased sales opportunities for patient warming devices. While developed regions will continue to dominate the global market, the rising spending on the healthcare sector is expected fuel prospects for patient warming devices sales across emerging nations. Transparency Market Research (TMR) forecasts the market to show a CAGR of 5.2% between 2015 and 2023, in response to the increasing geriatric population and the rising incidence of premature births globally.

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On the flip side, the market faces a challenge from the rising awareness pertaining to the side-effects associated with the use of certain patient warming devices. Nevertheless, advent of advanced products will have a positive influence on the market’s overall trajectory.

TMR estimates the overall value of the global patient warming devices market at US$1.6 bn in 2014. The market is forecast to reach US$2.58 bn by the end of 2023.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.