Temperature Management Systems Market Worth $3.9 billion | Asahi-kasei Corporation (Japan), Becton, Dickinson and Company (US), ICU Medical (US), Gentherm Incorporated (US)

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 new report by MarketsandMarkets. Growth in the temperature management systems market is mainly driven by the increasing prevalence of chronic and infectious diseases, the rising number of surgical procedures, and the increasing number of hypothermia cases expected to offer growth opportunities for players operating in the temperature management systems market during the forecast period. However, the high cost of intravascular temperature management systems and a lack of awareness are restricting the growth of this market.

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Patient Warming Systems segment is expected to account for the largest share in 2022.

The Temperature Management Systems market, by product, has been segmented into patient warming systems, patient 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. In the US and Canada, the number of hypothermia-related deaths is estimated at 25,000 and 8,000, respectively. Preventing inadvertent perioperative hypothermia helps to reduce surgical-site infections, the length of hospital stays, and the cost per patient.

The Perioperative care segment held the largest market share in the Temperature Management Systems market.

By 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. The increasing number of hospital and advance medical surgical procedures will 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.

The medical specialty segment held the largest market share in the Temperature Management Systems market.

By medical specialty, the global Temperature Management Systems market is broadly segmented into 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 grow highest in the upcoming years. The increasing number of surgical procedures performed worldwide is the major factor driving the growth of this medical specialty segment.

North America dominates the global Temperature Management Systems market.

Based on the region, the Temperature Management Systems market is segmented into North America, Europe, Asia Pacific and Rest of the world. The North American market is driven by the growing focus on growing government and private investments to meet the increasing demand for increasing prevalence of chronic and infectious diseases.

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Key Market Players of Temperature Management Systems Industry:

The Key players in the Temperature Management Systems market are 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)

Breakdown of supply-side primary interviews by company type, designation, and region:

By Company Type: Tier 1 (30%), Tier 2 (44%), and Tier 3 (26%)
By Designation: C-level (30%), Director-level (33%), and Others (37%)
By Region: North America (40%), Europe (28%), Asia-Pacific (18%), RoW (14%),

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