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Patient Temperature Management Market Trends and Key Developments 2016 - 2026
In Persistence Market Research’s latest report, the global patient temperature management market is examined in detail to offer extensive information about all the key factors associated with market growth, its key segments, and key geographies.
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Persistent demand for traditional temperature management products, such as warming and cooling blankets, ice packs, gel packs, and others, will continue to support the market for patient temperature management globally. Hospitals, precisely emergency departments, burn centers, and surgical suites, will remain the predominant consumers over the forecast period. Staggering growth of the medical tourism sector in developed as well as developing countries is one more key factor accelerating the growth of patient temperature management market.
Surgeons, nursing staff, anesthesiologists, and paramedical staff are likely to raise decent demand for temperature management systems throughout the assessment period. Advancements in temperature management technology and devices are likely to spur the demand in near future. In addition to expanding geriatric population, growing awareness about healthcare and rising healthcare spending will also push the market further.
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Furthermore, soaring number of hospitals, healthcare centers, ambulatory care units, and critical or emergency care centers is likely to elevate the market for temperature management systems and products over the next few years. Favorable government initiatives regarding temperature management and other healthcare regimes will also spur the demand within the next few years. Introduction of innovative, multifunctional patient temperature management products is expected to spur the sales globally.
However, certain unfavorable reforms in the U.S. healthcare sector, coupled with some major product recalls are anticipated to restrict the market growth. Expensive IV systems will also remain a long-term challenge to rapid adoption of patient temperature management products or systems. Pricing pressure and intense competitiveness are among the top restraints for manufacturers and vendors.
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Competitive pricing in IV temperature management systems will possibly create multiple revenue generation opportunities for vendors, especially within the developing regions of Asia, Middle East, and Latin America.
New entrants in emerging economies are likely to gain the maximum growth opportunities within the next five years.
Strategic M&A, collaborations, and partnerships are identified to be trending among key market players, apart from new product launches.
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