Temperature Management Market to Surpass US$ 3,814.3 MN By 2028

 

Temperature Management Market

Temperature Control is still an important part of hospital care for all neonatal and paediatric patients. Temperature management is a treatment that is used to keep a patient's body temperature stable for a set period of time. It reduces the risk of tissue injury caused by a lack of blood flow and improves health conditions. In medicine, body temperature is extremely important. A change in body temperature is a symptom of a number of diseases.

Even when people are healthy, monitoring their body temperature can aid in the early detection of disease. Close monitoring and regulation of body temperature to avoid extremes is therefore especially important in critically ill patients. Temperature is one of the vital signs signifying the well-being of a person, thereby temperature monitoring and management is a part of standard care.

The global prevalence of chronic diseases such as cardiovascular disease and cancer is expected to drive the global Temperature Management Market over the forecast period. According to the World Health Organization (WHO), cardiovascular disease is the leading cause of death worldwide. In 2019, an estimated 17.9 million people died from cardiovascular diseases, accounting for 32% of all global deaths. Furthermore, cancer was the leading cause of death worldwide in 2020, accounting for nearly 10 million deaths.

The global Temperature Management Market size is estimated to be valued at US$ 2,975.6 Million in 2022 and is expected to exhibit a CAGR of 4.2% between 2022 and 2028.

The high cost of temperature management systems is expected to stymie the global Temperature Management Market's growth. The cost of temperature management devices is determined by the device's specifications, features, and brand. For example, the average price of Bell Medical Inc.'s Warrior Blood and Fluid Warmer is USD 3,438 - USD 5,403.  Product recalls and failures are expected to stymie the global Temperature Management Market's growth. Smiths Medical, for example, recalled half a million Normoflo irrigation fluid warmers and warmer sets in September 2021 due to the possibility of aluminium ions leaching into warmed fluids. The Food and Drug Administration has classified the recall as a Class I recall, the most serious type (FDA).

Technological advancements in temperature management systems are expected to provide lucrative growth opportunities for global Temperature Management Market participants. TSS, for example, introduced a new era of efficiency in April 2021, with next-generation Bluetooth-powered temperature monitoring solutions that assist life science supply chain professionals in automating their processes for time and cost savings while ensuring patient safety.

The world's ageing population is expected to provide lucrative growth opportunities for players in the global Temperature Management Market. According to the WHO, by 2030, one in every six people in the world will be 60 or older, and the world's population of people 60 and older will double (2.1 billion) by 2050.

Top Companies involved are-

·        3M

·        Atom Medical Corporation

·        Becton, Dickinson and Company

·        Cincinnati Sub-Zero Products LLC

·        Dragerwerk AG & Co. KGaA

·        Geratherm Medical AG

·        Medtronic PLC

·        Smith Medical Inc.

·        Stryker Corporation

·        Zoll Medical Corporation

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