Temperature Management Systems Market Analysis and Forecast by Size, Share, Growth, Trends 2031

The Temperature management systems market size is projected to reach US$ 4.07 billion by 2031 from US$ 2.54 billion in 2023. The market is expected to register a CAGR of 6.0% during 2023–2031. rising inclination towards wearables temperature monitoring devices and therapeutic devices are likely to remain key trends in the market.

Temperature Management Systems Market Analysis

Increasing prevalence of chronic disorders such as stroke, cardiovascular disorders, oncology, and others along with increase in surgical procedures are expected to drive the market growth. Moreover, increase in research and development activities leads to innovation and new product launches in the market followed by strategic initiatives for geographical expansion are likley to create ample opportunities for the market growth. However, rising inclination towards wearables temperature monitoring devices and therapeutic devices are the key trends of the market.

Temperature Management Systems Market Overview

Increasing prevalence of chronic disorders such as stroke, cardiovascular disorders, oncology, and others along with increase in surgical procedures are expected to drive the market growth. North America dominated the market growthowing to the growing innovations in the temperature management systems and increasing central nervous system disorders are among the few factors that are projected to accelerate the growth of the North America temperature management systems market. Moreover, increasing R&D activities and introduction of novel products likely to add more opportunities in the market. However, Asia Pacific is anticipated to register the significant growth rate due to the growing technology, growing geriatric population, increasing prevalence of cardiovascular diseases. The China accounts for the major market share due to the higher prevalence of orthopedic and heart diseases seeking inpatient care and growing research activities and India is anticipated to register the significant growth during the forecast period.

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Temperature Management Systems Market: Strategic Insights

Temperature Management Systems Market

• 
  CAGR (2023 - 2031)

  6.0%
• Market Size 2023
  US$ 2.54 Billion
• Market Size 2031
  US$ 4.07 Billion

Market Dynamics

GROWTH DRIVERS

• Increasing prevalence of chronic disorders such as creates demand for temperature management systems

FUTURE TRENDS

• Improved disposable income and healthcare expenditure is driving the market growth

OPPORTUNITIES

• Increasing Research & Development Activities and Product Launches create lucrative opportunities

Key Players

• 3M
• ZOLL MEDICAL CORPORATION
• BD
• Smiths Medical
• Dragerwerk AG Co KGaA
• Ecolab
• GENTHERM
• Inspiration Healthcare Group plc
• Stryker Corporation

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product Type

• Patient Warming Systems
• Patient Cooling Systems

Application

• Perioperative Care
• Acute Care
• Newborn Care

Medical Indication

• General Surgery
• Cardiology
• Neurology
• Pediatrics
• Thoracic Surgery
• Orthopedic Surgery

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Temperature Management Systems Market Drivers and Opportunities

Rising Number of Surgical Procedures to Favor Market

Body temperature is one of the vital parameters of human body during surgeries. In case the body temperature drops accidentally below 36°C (96.8°F), physicians consider the condition as perioperative hypothermia. If this condition is not noticed early enough, the low temperature can lead to medical complications. Perioperative hypothermia occurs almost during all surgeries. A temperature management system serves as hypothermia prevention and simplifies the anesthesia of patients during surgeries due to a fast and effective heat supply.

Growing geriatric population, increasing prevalence of chronic diseases, increase in number of accidents, and rise in hospital admissions has led to increase in number surgical procedures. Owing to advancements in technology, various hospitals and medical institutes are performing large number of surgeries in a year. For instance, on an average, 313 million surgical procedures performed worldwide every year.

Increasing Research & Development Activities and Product Launches create lucrative opportunities

Industry players are conducting a vast number of research & development activities to develop advanced temperature monitoring systems. These technology partnerships are likely to offer significant opportunities for the new product launches and introduction of a wide variety of products during the forecast period. For instance, In January 2024, Microchip Technology launched the MCP998x family of 10 automotive-qualified remote temperature sensors. This new family of remote temperature sensors is expanding customer choice in a product category that, historically, has offered limited options. Moreover, in June 2021, ZOLL and Global Healthcare SG signed an exclusive agreement to distribute a portable targeted temperature management system in Asia Pacific. Further, consolidation of research and development activities leads to product innovations that are likely to offer significant opportunities for product adoption. Likewise, a robust focus on research activities can offer expanded growth opportunity for the temperature management systems market during the forecast period.

Temperature Management Systems Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Temperature management systems market analysis are product , application, and medical indication.

• Based on product type, the Temperature management systems market is bifurcated into patient warming systems and patient cooling systems. The patient warming systems segment held a larger market share in 2023.
• By application, the market is segmented into perioperative care, acute care, newborn care, and others. The perioperative care segment held the largest share of the market in 2023.
• In terms of medical indication, the market is classified into general surgery, cardiology, neurology, pediatrics, orthopedic surgery, thoracic surgery, others. The general surgery segment held a significant share of the market in 2023.

Temperature Management Systems Market Share Analysis by Geography

The geographic scope of the Temperature management systems market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the market owing to the growing innovations in the temperature management systems and increasing central nervous system disorders are among the few factors that are projected to accelerate the growth of the North America temperature management systems market. Moreover, increasing R&D activities and introduction of novel products likely to add more opportunities in the market. The US hold the major market share owing to the increasing prevalence of chronic and cardiac diseases, growing number of product launches by key players, and increasing focus on preventive measures to deal with disease prevalence and patient monitoring. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.

Temperature Management Systems Market Report Scope

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Temperature Management Systems Market News and Recent Developments

The Temperature management systems market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Temperature management systems market are listed below:

• SourceMark collaborated with Gentherm Medical for the supply of certain Gentherm patient warming product lines in the United States, including Astopad, a resistive warming system designed to prevent and treat hypothermia, Norm-O-Temp, a whole-body hyperthermia system, Gelli-Roll, a reusable warming and cooling gel pad, the WarmAir convective patient warming system, and FilteredFlo patient warming air blankets. (Source: SourceMark Medical, Press Release, January 2024)
• Watlow launched the new ASSURANT HT high-temperature heating jackets designed to meet the unique needs of semiconductor processing. These solutions offer even heating for uniform temperature profiles over the entire heated line. The ASSURANT heater jackets optimize process tool uptime and chip yield by providing full coverage to the line eliminating cold spots that result in particle buildup. (Source: Watlow Electric Manufacturing Company, Company Website, October 2023)
• ZOLL collaborated with BrainCool or the exclusive distribution of the BrainCool System/IQool System and the IQool System Pads in the U.S. and key markets in Europe, and are working towards expanding distribution to select markets in Asia. (Source: ZOLL Medical Corporation, Company Website, July 2023)

Temperature Management Systems Market Report Coverage and Deliverables

The “Temperature Management Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Temperature management systems market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Temperature management systems market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Temperature management systems market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Temperature management systems market
• Detailed company profiles