In a recently published report, Patient Temperature Management Devices Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Patient Temperature Management Devices Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global patient temperature management devices market is valued approximately at USD 2.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.62% over the forecast period 2020-2027. Patient temperature management systems offer a number of medical advantages, such as reducing blood loss during surgery, reducing the risk of neurological disorders after cardiac arrest, and helping with rapid post-surgery recovery. Because of such benefits, patients’ hospital stay is reduced to bare minimum, thereby reducing overall healthcare costs. These are used to measure COVID-19 patients’ body temperature since high body temperature is one of COVID-19’s major symptoms. Increasing number of surgical procedures is the driving factor. The per capita use of surgical services will remain constant, we predict significant increases (14–47%) in the amount of work in all surgical fields. The restraining factor of the market is the high cost of intravascular temperature management systems. Invasive cooling costs per patient range from USD 900 to 1,400, depending on the type of single-use components used, as opposed to USD 5–10 in surface cooling methods. The number of firms offering temperature management systems has grown globally. Major market players focus on reinforcing their product offerings, distribution networks and geographical presence through contracts and agreements with other established and emerging market players are the opportunities.
The regional analysis of global patient temperature management devices market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Due to the increasing number of cardiac surgeries and increased health care expenditure in the US, North America led the market. The country also has a favorable reimbursement scenario, thus driving the temperature management systems to penetrate. Asia Pacific is expected to show lucrative growth over the forecast period due to high growth opportunities to meet the unmet needs of the region’s target population
Major market player included in this report are:
Medtronic plc (covidien plc)
Ethicon endo-surgery
R. Bard, inc.
Abbott vascular inc.
Stryker corporation
ZOLL Medical Corporation,
Ecolab,
Geratherm Medical,
Enthermics Medical Systems,
GE Healthcare,
Moeck und Moeck, Welkins, and
Covidien.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Products
Patient warming systems
Convective warming systems
Intravascular warming systems
Surface warming systems
End users:
Surgical centres
Emergency care units
Ambulatory sites
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Applications
Perioperative care
Acute care
Newborn care
Other application areas
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Urgent Care Center Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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