Europe Temperature Management Market Analysis and Business Strategies by Market Data Forecast

According to the report Europe Temperature Management Market, published by Market Data Forecast the Market size was approx USD 710 million in 2016. It is estimated to grow at a CAGR of 2.7 % to reach USD 810 billion by 2021. It is second largest in terms of market share capturing 30% of the global market share.

Reduced risks of neurological disorders post cardiac arrests, reduction in the loss of blood during surgeries, decreasing risks of SSIs and rapid post-surgery recovery are few of the benefits offered by temperature management devices. These benefits reduce the stay at hospitals thereby, reducing the healthcare costs by increasing the healthcare infrastructure with the utilization of patient temperature management devices.

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Demand for Temperature management products is expected to be influenced by the rising number of surgical procedures. For instance, careful monitoring and maintenance of patients' temperature through blood cooling reduces the risk for perioperative and postoperative surgical complications in open heart surgeries.

Rising number of conferences for physicians to spread awareness, more and more technologically advanced intravascular systems, rising cases of chronic diseases and greater research funding are the primary factors fuelling the growth of this market. Secondary factors include prevalence of Nervous System and Cardiovascular Disorders, increasing number of healthcare organizations adopting the temperature management system in multiple clinical applications, rising cases of cancer and advancements in the development of mobile devices. Further, additional demand for temperature management devices for controlling temperature in neonatal care has arisen owing to the growing birth rates.High costs of IVTM systems, price pressures, product recalls and are the key challenges of this market.

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The Europe Temperature Management market can be categorized into four categories: by product, by application, by medical specialty and by end user. On the basis of application, Temperature Management market is classified into Perioperative Care (Operating Rooms, Recovery Rooms, and Preoperative Care Units), Acute Care (Intensive Care Units, Emergency Rooms, Coronary Care Units, Neurological Care Units, Burn Centres and Cath Labs), Military Applications, new-born Care (Delivery Suites, Neonatal Intensive Care Units and Postnatal Wards), Physiotherapy, Medical/Surgical Units, Patient Transport, Chemotherapy and Other Applications. In 2017, the perioperative care category is projected to command the largest market share. The growing number of surgical procedures performed worldwide is the key factor driving this market segment.

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Further, technological advancements, rising number of product launches for the perioperative care segment and increasing number of partnerships between major market players and hospitals are also buttressing market growth. If we go by product, Temperature Management market is segmented into Patient Warming Systems (Surface Warming Systems (Convective Warming Systems and Conductive Warming Systems), Intravascular Warming Systems and Warming Accessories) and Patient Cooling Systems (Surface Cooling Systems, Intravascular Cooling Systems and Cooling Accessories).

In 2017, patient warming systems category is likely to command the largest market share. The growing demand for these systems in diverse hospital settings is the primary factor fuelling market growth. Further, on the basis of medical specialty the market can be categorized into General Surgery, Cardiology, Neurology, Paediatrics, Thoracic Surgery, Orthopaedics and others. In 2017, the general surgery category is estimated to command the largest market share. The growing incidence of colorectal cancer, GI disorders, and endocrine disorders are the key factors driving this market. Last but not the least, on the basis of end user the market is segmented into Surgeons and Anaesthesiologists, Nursing Staff and Paramedical Staff.

By geography, the Europe Temperature Management market has been categorized into UK, Spain, Germany, Italy and other countries. Presently, Europe is second largest in terms of market share. The rising trend of medical tourism in Hungary and Poland, cheaper surgical treatments are primary factors alluring patients from North America to travel to European countries for undergoing elective surgical procedures. These are primarily contributing to the development of the European Temperature Management Market.

Major companies in the Temperature Management market are 3M Company (U.S.), Smiths Medical (U.K.), Medtronic plc (Ireland), C.R. Bard Inc. (U.S.), Cincinnati Sub-Zero Products, Inc. (U.S.), Geratherm Medical AG (Germany), Inspiration Healthcare Group plc, (U.K.), Stryker Corporation (U.S.), The 37Company (Netherlands), ZOLL Medical Corporation (U.S.), GE Healthcare (U.S.), Becton, Dickinson and Company (U.S.), DRÄGERWERK AG & CO. KGAA (Germany), and Ecolab (U.S.)

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