Temperature Management Market | Emerging Markets to Offer High Growth Opportunities


Posted September 21, 2017 by dheerajshaha67

The global temperature management market is projected to reach USD 2.72 billion by 2022 from USD 2.40 billion in 2017, at a CAGR of 2.5%.

 
The global temperature management market is projected to reach USD 2.72 billion by 2022 from USD 2.40 billion in 2017, at a CAGR of 2.5%. The factors driving the growth of this market are the increase in the incidence of chronic conditions, development of technologically advanced intravascular systems, large number of awareness campaigns/conferences for physicians, and growth in research funding.

In this report, the market is segmented on the basis of product, application, medical specialty, end user, and region. On the basis of product, the global temperature management market is segmented into patient warming systems and cooling systems. The patient warming systems segment is expected to account for the largest share in the temperature management market. The rising demand for these systems in diverse hospital settings is the major factor driving market growth. The patient cooling systems is the fastest-growing segment in the products market during the forecast period. This is due to its benefits associated with out-of-hospital settings.

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Based on medical specialty, the market is categorized into general surgery, cardiology, neurology, thoracic surgery, orthopedics, pediatrics, and other medical specialties (such as ophthalmic, bariatric, and cosmetic surgeries). The general surgery segment is expected to account for the largest share of the temperature management market. The rising incidence of colorectal cancer, GI disorders, and endocrine disorders are the major factors propelling the growth of the general surgery segment in the temperature management market. The orthopedic segment is the fastest growing segment in the medical specialty market during the forecast period. Factors such as sedentary lifestyles, growing number of knee and hip replacement procedures, rising prevalence of arthritis and musculoskeletal disorders, and the increasing number of sports injury cases are driving the growth of this segment.

Based on application, the temperature management market is segmented into perioperative care, acute care, newborn care, medical/surgical units, physiotherapy, military applications, patient transport, chemotherapy, and other applications (such as home care and anesthetic rooms). The perioperative care segment is expected to account for the largest share of the temperature management market in 2017. The acute care segment is the fastest growing segment in the application market during the forecast period. Factors such as increase in the severity of illnesses among hospital patients along with the increase in aging population are contributing to the growth of this market.

Based on end user, the temperature management market is segmented into surgeons and anesthesiologists, nursing staff, and paramedical staff. In 2017, the surgeons and anesthesiologists segment is expected to account for the largest share of the temperature management market. The paramedical staff is the fastest growing segment during the forecast period due to factors such as the growing importance of paramedical staff in the healthcare sector, specifially in the accident and trauma care departments, and the rapid changes in healthcare delivery systems are contributing to the growth of this end-user segment.

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Geographically, the temperature management market in the Asia-Pacific (APAC) region is expected to register the highest CAGR during the forecast period. Growth in this regional segment is largely driven by growing patient population, government efforts to increase access to elective surgeries, improving healthcare infrastructural facilities, and growing medical tourism industry.

Emerging markets such as India and China have the fastest growth rate in the temperature management market due to factors such as geriatric population, increasing prevalence of chronic diseases, growing volume of surgical procedures which include popularity of cosmetic surgeries, and increasing spending power of the middle-class population.
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Issued By D Shaha
Country India
Categories Medical
Tags temperature management , temperature management devices , temperature management market
Last Updated September 21, 2017