Temperature Management Systems Market is Expected to Reach $3.9 billion | MarketsandMarkets.

Chicago, Nov. 08, 2023 (GLOBE NEWSWIRE) — Temperature Management Systems market in terms of revenue was estimated to be worth $3.0 billion in 2023 and is poised to reach $3.9 billion by 2028, growing at a CAGR of 4.9% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Growth in the temperature management systems market is mainly driven by the increasing prevalence of chronic and infectious diseases which leads various the rising number of surgical procedures. Hypothermia is a common condition observed in surgical procedures due to the usage of anesthesia; therefore, it leads to increasing number of hypothermia cases expected to grow the market demand of the the temperature management systems market during the forecast period.

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Temperature Management Systems Market Scope:

Report Coverage Details
Market Revenue in 2023 $3.0 billion
Estimated Value by 2028 $3.9 billion
Growth Rate Poised to grow at a CAGR of 4.9%
Market Size Available for 2021–2028
Forecast Period 2023–2028
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product, Application and Medical Speciality
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Growing number of contracts and agreements between market players
Key Market Driver Increasing number of hypothermia cases

Based on the Product, The Temperature Management Systems market, by product, has been segmented into patient warming systems which sub categorized into Surface Warming Systems further categorized into Connective Warming Systems and Conductive warming systems and Intravascular warming systems, patient cooling systems which sub categorized into surface cooling systems and Intravascular cooling Systems and accessories for patient warming/cooling systems. Patient warming systems will drive the growth of the market due to increasing number of hypothermia cases and the growing number of surgical procedures in the countries is another major factor driving the demand for temperature management systems.

Based on the Application, the global Temperature Management Systems market is broadly segmented into Perioperative care, acute care, newborn care, and other applications. Perioperative care is expected to grow highest in the upcoming years due to the increasing number of surgical procedures performed worldwide is the major factor driving the growth of this application segment. Technological advancements, product developments and launches, and growing partnerships between key market players and hospitals are also supporting market growth.

Based on the Medical Speciality Temperature Management Systems is categorized into various segments like general surgery, cardiology, neurology, thoracic surgery, orthopedic surgery, pediatrics, and other medical specialties (such as ophthalmic, bariatric, and cosmetic surgeries). General surgery is expected to have a highest growth in the upcoming years. The increasing number of general surgery procedures performed in the hospital while lead to the increase demand for the temperature management systems in the ICUs, NICUs and operating rooms.

Based on the region segmentation, the Temperature Management Systems market is divided into North America, Europe, Asia Pacific, and the Rest of the World. North America holds the largest share and expects to dominate the Temperature Management Systems market. Growth in the North American market is mainly driven by the Increasing usage of Increasing growth opportunities in emerging economies and Growing number of contracts and agreements between market players.

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Temperature Management Systems market major players covered in the report, such as:

  • 3M Company (US)
  • GE Healthcare (US)
  • Dragerwerk AG & Co. KGAA (Germany)
  • Ecolab (US)
  • Asahi-kasei Corporation (Japan)
  • Becton, Dickinson and Company (US)
  • ICU Medical (US)
  • Gentherm Incorporated (US)
  • Inspiration Healthcare Group PLC (UK)
  • Medtronic PLC (Ireland)
  • Stryker Corporation (US)
  • The Surgical Company (Netherlands)
  • Adroit Medical Systems (US)
  • Attune Medical (US)
  • Augustine Surgical, Inc (US)
  • Belmont Medical Technologies (US)
  • Biegler GMBH (Austria)
  • Encompass Group, llc (US)
  • Enthermics, INC (US)
  • Hirtz & Co. KG (Germany)
  • Istanbul Medikal ltd. (Istanbul)
  • Life Recovery Systems (US)
  • Medcare Visions (Germany)
  • TahatAksi (Belarus) and Beijing Eternal Medical Technology Co., Ltd (China)
  • and Among Others

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This research report categorizes the temperature management systems market into the following segments and subsegments:

Regional Split

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Product Split

  • Patient Warming Systems                           
    • Surface Warming Systems           
      • Connective Warming Systems
      • Conductive warming systems
    • Intravascular Warming Systems
  • Patient Cooling Systems               
    • Surface Cooling Systems              
    • Intravascular Cooling Systems   
  • Accessories for Patient Warming & Cooling Systems

Application Split

  • Perioperative Care         
    • Operating Rooms
    • Postoperative Care Units
    • Preoperative Care Units
  • Acute Care         
    • Intensive Care Units
    • Emergency Rooms
    • Coronary Care Units
    • Burn Centers
    • Neurological Care Units
    • Cath Labs
  • Newborn Care  
    • Delivery Suites
    • Neonatal Intensive Care Units
    • Postnatal Wards
    • Other Applications          

Medical Specialty Split

  • General Surgery
  • Cardiology
  • Neurology
  • Pediatrics
  • Thoracic Surgery
  • Orthopedic Surgery
  • Other Medical Specialties

Recent Developments:

  • In June 2023, Dragerwerk AG & Co. KGAA has launched the FDA-cleared Babyroo TN300, a new open warmer that offers supportive lung protection and temperature stability from the moment of birth through discharge.
  • In July 2023, Asahi-kasei Corporation (Japan) signed an agreement with BrainCool, a medical device company specializing in temperature management solutions, for the exclusive distribution of the BrainCool System/IQool System and the IQool System Pads in the US and key markets in Europe. The companies are working toward expanding distribution to select markets in Asia.
  • In January 2022, ICU Medical completed the acquisition of Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical’s existing businesses, the combined companies create a leading infusion therapy company with estimated pro forma combined revenues of approximately USD 2.5 billion.
  • In July 2022, Gentherm acquired Jiangmen Dacheng Medical Equipment Co., Ltd., a manufacturer of medical materials and medical equipment, including patient temperature management solutions.

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Temperature Management Systems Market Key Stakeholders:

  • Senior Management
  • End User
  • Finance/Procurement Department
  • R&D Department

Report Objectives:

  • To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
  • To define, describe, segment, and forecast the temperature management systems market by Product, Application, Medical specialty and Region
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall temperature management systems market
  • To forecast the size of the temperature management systems market in five main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific, and Rest of the world
  • To profile key players in the temperature management systems market and comprehensively analyze their core competencies and market shares
  • To track and analyze competitive developments, such as acquisitions; product launches; expansions; collaborations, agreements, & partnerships; and R&D activities of the leading players in the temperature management systems market.
  • To benchmark players within the temperature management systems market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy

Related Reports:

IoT Medical Devices Market

Patient Monitoring Devices Market

Patient Positioning Systems Market

Veterinary Equipment Market

Minimally Invasive Surgical Instruments Market

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