Temperature Management Market Size Worth USD 8.21 Billion in 2032 | Emergen Research

Increasing prevalence of cancer, infectious diseases, and cardiovascular diseases is a major factor driving Temperature Management Market revenue growth

Vancouver, Dec. 18, 2023 (GLOBE NEWSWIRE) — The global temperature management market size was USD 3.50 Billion in 2022 and is expected to register a revenue CAGR of 8.80% during the forecast period, according to latest analysis by Emergen Research. Temperature management market revenue growth is driven by factors such as increasing prevalence of chronic diseases, increasing number of hypothermia cases, and development of technologically advanced intravascular systems.

Temperature control is an important aspect of hospital treatment for both newborn and pediatric patients. Body temperatures that are outside of normal limits can be symptomatic of underlying disease processes or clinical decline and should be recognized as soon as possible. Optimizing metabolic processes and physical functions is made possible by maintaining a constant body temperature within typical limits. Therefore, reducing environmental elements in the hospital setting that might cause unneeded changes in body temperature is also crucial.

One of the major factors driving revenue growth of the temperature management market is the rising number of surgical operations. Across the globe, several surgical operations are carried out. According to estimates from the Texas Heart Institute, about 500,000 coronary bypass surgeries are carried out each year. The body temperature of individuals who get local or general anesthesia before any surgical treatment decreases. Warming systems are necessary in these conditions to prevent any more intraoperative hypothermia. By using these technologies, patients’ pre- and post-operative pain and difficulties are further reduced.

However, the cold chain industry faces several challenges and risks that might have disastrous effects. Billions of dollars’ worth of pharmaceutical products are either mishandled during delivery or inadequately kept, or they are delayed and reach their destinations after they have lost their effectiveness. These unfortunate events make the drugs dangerous and even potentially fatal to the people who rely on them to treat everything from cancer to the flu. In addition, insufficient temperature-controlled logistics cause the biopharmaceutical industry to lose more than USD 35 billion annually. Hence, these factors are restraining revenue growth of the market.

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Scope of Research

Report Details Outcome
Market Size in 2022 USD 3.50 Billion
CAGR (2023–2032) 8.80%
Revenue Forecast to 2032 USD 8.21 Billion
Base Year for Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Billion and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Product type, application, end-use, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Medtronic, 3M., ZOLL Medical Corporation, Stryker, BD, ICU Medical, Cincinnati Sub-Zero, Mennen Medical, Geratherm Medical AG., Healthcare 21 Ltd
Customization Scope 10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global temperature management market is fairly fragmented, with a number of large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective solutions. Some major companies included in the global temperature management market report are:

  • Medtronic
  • 3M.
  • ZOLL Medical Corporation
  • Stryker
  • BD
  • ICU Medical
  • Cincinnati Sub-Zero
  • Mennen Medical
  • Geratherm Medical AG.
  • Healthcare 21 Ltd.

Strategic Development

  • On 08 August 2022, SafeGuard Focus CoolTM Compression Device, an innovative addition to its SafeGuard® platform, was introduced by Merit Medical Systems, Inc., a major global producer, and marketer of healthcare equipment. It is a component of a larger cardiac portfolio that also includes the tools and supplies required for interventional cardiac resynchronization treatment, electrophysiology, lead extraction, and maintenance of cardiac rhythm.
  • On 1 June 2021, Global Healthcare SG, a producer of portable body cooling systems, and ZOLL Medical Corporation, an Asahi Kasei subsidiary that makes medical equipment and related software solutions, announced their exclusive distribution partnership. In accordance with the contract, ZOLL is granted exclusive rights to market and sell the CarbonCool Full Body Suit and Comfort Suit throughout the Asia Pacific region.

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Some Key Highlights From the Report

  • The patient warming systems segment accounted for a significantly large revenue share in 2022. With the use of active and passive warming methods, patient warming keeps the patient’s normothermia, or core body temperature, at 98.6°F (37°C). These covers provide heat to the patient before, during, or after surgeries in the Operating Room (OR). Thermal comfort helps patients maintain normothermia and reduces preoperative anxiety and nervousness. Warming the patient is widely acknowledged as being necessary to maintain thermal comfort. Studies have demonstrated that the use of warming treatments both before and after surgery improves patient satisfaction, thermal comfort, and anxiety, hence driving revenue growth of this segment.   
  • The operating rooms segment accounted for largest revenue share in 2022. Patients require a precise temperature in operating room throughout pre-, post-, and perioperative procedures to prevent surgical problems. For instance, patients who get anesthesia before surgery need warming treatments, whereas cooling therapies are needed in operating rooms during cardiac procedures. Thus, it is expected that the demand for these items would continue to be strong as the number of procedures increases, hence driving revenue growth of this segment.

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Emergen Research has segmented the global temperature management market on the basis of product type, application, end-use, and region:

  • Product Type Outlook (Revenue, USD Billion; 2019-2032)
    • Patient Warming Systems
      1. Conventional Warming Systems
      2. Surface Warming Systems
      3. Intravascular Warming Systems
    • Patient Cooling Systems
      1. Conventional Cooling System
      2. Intravascular Cooling System
      3. Surface Cooling System
  • Application Outlook (Revenue, USD Billion; 2019-2032)
    • Cardiology
    • Orthopedics
    • Neurology
    • Other Applications
  • End-Use Outlook (Revenue, USD Billion; 2019-2032)
    • Operating Rooms
    • Intensive Care Units
    • Emergency Rooms
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019-2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. U.K.
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of MEA

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