Global Temperature Management Systems Market is valued approximately at USD 2.4 billion in 2019 and is anticipated to grow with a growth rate of more than 5.1% over the forecast period 2020-2027. Temperature or thermal management system manages the temperature of a system with the help of heat transfer and thermodynamics. It aids in the regulation and maintenance of human body temperature of patients in recovery rooms, intensive care units, operation theatres, and other areas of hospitals. The rising number of surgical procedures and increase in the incidence of chronic conditions are the few factors responsible for growth of the market over the forecast period.
Furthermore, the introduction of new products and other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 23rd April 2017, Becton, Dickinson and Company acquired C. R. Bard, Inc, to establish the medical technology company uniquely positioned to improve both the process of care and the treatment of disease for patients and healthcare providers.
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This acquisition enables Becton, Dickinson and company entered into temperature management market. Whereas, high cost of intravascular temperature management systems is the major factor restraining the growth of global Temperature Management Systems market during the forecast period.
The regional analysis of global Temperature Management Systems market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the large volume of surgical procedures performed in North American countries. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
3M Company
Smiths Medical
Zoll Medical Corporation
Becton, Dickinson And Company
Drägerwerk AG & Co. Kgaa
Ecolab
Ge Healthcare
Gentherm Incorporated
Geratherm Medical AG
Inspiration Healthcare Group Plcs
