Global Patient Temperature Management Systems Market to surpass US$ 4.8 billion by 2026 - Coherent Market Insights

The Global Patient Temperature Management Systems Market, by Product Type (Patient Warming Systems (Conventional Warming Systems, Surface Warming Systems, and Intravascular Warming Systems) and Patient Cooling Systems (Conventional Cooling Systems, Surface Cooling Systems, and Intravascular Cooling Systems)), by Application (General Surgery, Cardiology, Neurology, Pediatrics, and Others), by End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2.6 billion in 2017, and is projected to exhibit a CAGR of 2.5% over the forecast period (2018 – 2026).

Patient temperature management systems are used to manage hypothermic or hyperthermic conditions of patients during surgical procedures and other medical conditions. Temperature monitoring and its maintenance in normal range is an important part of patient care during hospitalization. Traditional methods of temperature management such as blankets and cooling pads are increasingly being replaced by intravenous temperature management methods. However, current conventional patient temperature management systems have wide application of the blankets and cooling pads.

Presently, the patient temperature management system market is characterized by major players. However, new product launches with novel technology is the major factor boosting the patient temperature management systems market growth over the forecast period. For instance, in 2016, VitaHeat Medical, LLC, a private medical device company, launched VitaHeat UB3 patient warming system, the company’s innovative technology that warms the patient’s body using patented conductive ink technology in the form of thin mattress. Furthermore, in 2018, BrainCool, a Sweden-based company, received FDA approval for the IQool Warm System, used for both cooling and reheating of the body using pads placed around the head, neck, thighs, and torso. In 2018, Inspiration Healthcare received CE approval for its Inditherm Alpha patient warming system.

Browse Market Data 32 Tables and 30 Figures spread through 150 Pages and in-depth TOC on "Patient Temperature Management Systems Market, by Product Type (Patient Warming Systems (Conventional Warming Systems, Surface Warming Systems and Intravascular Warming Systems) and Patient Cooling Systems (Conventional Cooling Systems, Surface Cooling Systems and Intravascular Cooling Systems)), by Application (General Surgery, Cardiology, Neurology, Pediatrics and Others), by End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics and Others) and by Region - Global Forecast to 2026”

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Furthermore, strategic collaborations, agreements, and mergers and acquisitions are expected to drive the patient temperature management systems market growth. For instance, in 2014, Zoll Medical Corp., a medical device and related software manufacturer, acquired temperature management business from Philips Healthcare. As part of the acquisition, InnerCool temperature management business, which comprises RTx Endovascular System, the Accutrol catheter, and the CoolRepeat and STx Surface Cooling Systems, having regulatory approval in the U.S.

Key Takeaways of the Patient Temperature Management Systems Market:

• The global patient temperature management system market is expected to expand at a CAGR of 2.5% during the forecast period (2018 – 2026), owing to increasing product launches
• Among product types, the patient warming systems segment is expected to hold a dominant position, owing to increasing number of products and its wide use during surgeries
• Among applications, the general surgery segment is expected to hold a dominant position, as general surgeries cover a wide array of surgeries with large patient pool undergoing these surgeries.
• Some of the major players operating in the global patient temperature management systems market include 3M Company, Cincinnati Sub-Zero Products, LLC, C.R. Bard, Inc., Zoll Medical Corporation, Smith Medicals, Stryker Corporation, Medtronic plc, and The 37Company