North America Patient Temperature Management Market, By Product Type (Patient Warming System and Patient Cooling System), Component (Warming and Cooling), Application (Preoperative Care, Operating Room, Postoperative Care, Acute Care, Intensive Care Unit, Emergency Rooms, Neonatal Intensive Care Units and Other Applications), Medical Speciality (General Surgery, Cardiology, Neurology, Paediatrics, Thoracic Surgery, Orthopedic Surgery and Other Medical Specialties), End User (Hospitals, Specialized Clinics, Ambulatory Surgical Centres and Others) - Industry Trends and Forecast to 2029.
Market Analysis and Insights
The North America patient temperature management market is driven by the factors such as an increase in the prevalence of chronic diseases such as diabetes & gastrointestinal disorders, a growing number of the up-coming players and the innovation in care services, which enhance its demand, as well as increasing investment in research and development, leads to the market growth. Currently, various research studies are taking place, which is expected to create a competitive advantage for manufacturers to develop new and innovative patient temperature management systems, which is expected to provide various other opportunities in the patient temperature management market. However, the strict government regulations on approval and device recalls due to errors during treatment are expected to hamper the growth.
North America patient temperature management market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an analyst brief, our team will help you create a revenue impact solution to achieve your desired goal. The scalability and business expansion of the retail units in the developing countries of various regions and partnership with suppliers for safe distribution of machine and drugs products are the major drivers that propelled the market's demand in the forecast period.
North America patient temperature management market is supportive and aims to reduce the progression of the disease. Data Bridge Market Research analyses that North America patient temperature management market will grow at a CAGR of 10.3% during the forecast period of 2022 to 2029.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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By Product Type (Patient Warming System and Patient Cooling System), Component (Warming and Cooling), Application (Preoperative Care, Operating Room, Postoperative Care, Acute Care, Intensive Care Unit, Emergency Rooms, Neonatal Intensive Care Units And Other Applications) Medical Speciality (General Surgery, Cardiology, Neurology, Pediatrics, Thoracic Surgery, Orthopedic Surgery and Other Medical Specialties) End User (Hospitals, Specialized Clinics, Ambulatory Surgical Centres and Others)
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Countries Covered
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U.S., Canada, Mexico
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Market Players Covered
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BD, Medtronic, 3M, Stryker, ICU Medical, Inc., Ecolab, ZOLL Medical Corporation,Terumo Europe NV,Belmont Medical Technologies, GENTHERM, VYAIRE MEDICAL, INC., The Surgical Company PTM, pfm medical hico gmbh, ATTUNE MEDICAL, Augustine Surgical, Inc., GERATHERM, E-Control Systems, Inc., Advanced Cooling Technologies, Medika International and Mercury Biomed, LLC among others
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North America Patient Temperature Management Market Dynamics
Drivers
- Rise in surgical procedures in geriatric population
Geriatric patients are less able to control their body temperature, due to which they have a higher risk of intraoperative and postoperative hypothermia. The frequency of surgery involving the senior population has increased rapidly due to the aging population and better medical care.
With the increasing age comes a reciprocal increase in the elderly patients admitted to the hospitals. The rising number of surgical procedures is due to the rise in the number of the aged population undergoing. These increasing rates of the surgeries are directly proportional to the growth of temperature management products, as they are used to reduce complications before and after the surgery.
- Increase in incidence of chronic diseases
The encumbrance of chronic disease is briskly increasing across the globe. According to the WHO (world health organization), during 2001, the contribution of chronic disease was about 60%, which is accounted for the number of deaths. Cardiac complications or other Ischemia develop due to decreased blood flow and causes cellular damage.
The high prevalence of chronic diseases due to the rapidly increasing population of people can be seen North Americaly. The primary reason for using a temperature management system is to aid in cancer treatment for patients undergoing chemotherapy or radiation therapy for more effective results. Chronic diseases include cardiovascular diseases, stroke, cancer, chronic respiratory diseases, and diabetes, wherein cardiovascular disease is the primary cause of death North Americaly.
Opportunities
- Rise in healthcare expenditure
Between 2000 and 2017, overall health spending dramatically increased in 42 countries that experienced fast economic growth. On average, actual health spending per capita grew by 2.2 times and increased by 0.6 percentage points as a share of GDP. For most, the growth of health spending was faster than that of GDP
North America spending on health more than doubled in real terms over the past two decades, reaching USD 8.5 trillion in 2019, or 9.8% of North America GDP. But it was unequally distributed, with high-income countries accounting for approximately 80%
Health spending in low income countries was financed primarily by out-of-pocket spending (OOPS; 44%) and external aid (29%), while government spending dominated in high income countries (70%)
Restraints/Challenges
The high cost of intravascular patient temperature management systems, which increases the cost of drug therapies, is expected to hinder the market growth for patient temperature management systems. Moreover, the cost of the treatment varies with the type of specialty clinics, the complexity of the condition, and the age of the patients. Other countries and their respective regulatory boards have specific guidelines to approve these products into their market for public use. The rising geriatric population and increased prevalence of cardiovascular diseases have also surged the demand for treatment of patient temperature management.
Whereas the European Medicines Agency does not. Gene therapy products are regulated by FDA’s Center for Biologics Evaluation and Research (CBER). FDA requires the submission of an IND before initiating clinical studies, and an approved biologics license application (BLA) to market the product in the United States. The regulatory framework for the development and manufacturing of products comprises regulations and guidance documents, including the interpretation of these governing documents by regulators.
However, every country is bounded by the guidelines regulated by different authorities which are expected to act as a challenge to the growth of the North America patient temperature management market.
Recent Developments
- In January 2020, Gentherm announced that the company had received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for Astopad Patient Warming System can be utilized in all surgical procedures to prevent and treat hypothermia in patients throughout the perioperative journey. This results in expanding the product portfolio of the company in the U.S. market
- In January 2019, Smiths Medical, a leading North America medical device manufacturer announced that the company has launched the Level 1 convective warmer for maintaining normal body temperature through every stage of surgery. It is a next-generation high-flow convective warmer that gives health care providers a quiet, simple, and safe thermal care solution
North America Patient Temperature Management Market Segmentation
North America patient temperature management market is categorized into product, components, application, medical speciality and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Product Type
- Patient Warming System
- Patient Cooling System
On the basis of product type, the patient temperature management market is segmented into patient warming system and patient cooling system.
Component
- Warming
- Cooling
On the basis of component, the patient temperature management market is segmented into warming and cooling.
Application
- Operating Room
- Preoperative Care
- Postoperative Care
- Acute Care
- Intensive Care Unit
- Emergency Rooms
- Neonatal Intensive Care Units
- Other Applications
On the basis of application, the patient temperature management market is segmented into operating room, preoperative care, postoperative care, acute care, intensive care unit, emergency rooms, neonatal intensive care units, and other applications.
Medical Speciality
- General Surgery
- Cardiology
- Neurology
- Pediatrics
- Thoracic Surgery
- Orthopedic Surgery
- Other Medical Specialties
On the basis of medical speciality, the patient temperature management market is segmented into general surgery, cardiology, neurology, pediatrics, thoracic surgery, orthopedic surgery, and other medical specialties.
End User
- Ambulatory Surgical Centers
- Hospitals
- Specialized Clinics
- Others
On the basis of end user, the patient temperature management market is segmented into ambulatory surgical centres, hospitals, specialized clinics, and others.
Patient Temperature Management Regional Analysis/Insights
The patient temperature management is analysed and market size insights and trends are provided by product, component, medical speciality, application and end user as referenced above.
The countries covered in the patient temperature management report are U.S., Canada, and Mexico.
The U.S. is expected to dominate due to an increase in technological advancement in the developing areas.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Patient Temperature Management Analysis
North America patient temperature management market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on patient temperature management market.
Some of the major players operating in the market are BD, Medtronic, 3M, Stryker, ICU Medical, Inc., Ecolab, ZOLL Medical Corporation,Terumo Europe NV,Belmont Medical Technologies, GENTHERM, VYAIRE MEDICAL, INC., The Surgical Company PTM, pfm medical hico gmbh, ATTUNE MEDICAL, Augustine Surgical, Inc., GERATHERM, E-Control Systems, Inc., Advanced Cooling Technologies, Medika International and Mercury Biomed, LLC and among others.
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, North America Vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
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