Global Temperature Modulation Devices Market Insights Forecasts to 2033

• The Global Temperature Modulation Devices Market Size was Valued at USD 2.7 Billion in 2023
• The Market Size is Growing at a CAGR of 7.30% from 2023 to 2033
• The Worldwide Temperature Modulation Devices Market Size is Expected to Reach USD 5.46 Billion By 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

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The Global Temperature Modulation Devices Market Size is Anticipated to Exceed USD 5.46 Billion by 2033, Growing at a CAGR of 7.30% from 2023 to 2033.

 

Market Overview

Instruments or systems used to regulate or change the temperature of a particular material, process, or environment are known as temperature modulation devices. Devices for controlling patient temperature are frequently needed since hypothermia affects patients much of the time. Improved therapeutic outcomes are directly correlated with appropriate temperature management. When their optimal body temperature is maintained, pediatric patients face fewer difficulties, recover from medical treatments more quickly, and stay in the hospital for shorter periods of time. Better clinical outcomes follow, and healthcare facilities experience a decrease in the expenses of treating patients who require longer hospital stays and more complicated treatment. Young patients receive treatment in a safer and more effective setting as a result of this decrease in complications. Furthermore, those with compromised health find it difficult to appropriately control their body temperature. As such, these patients need the use of body-warming equipment to facilitate their recuperation and lower their risk of problems. These warming devices become vital, particularly for patients having complicated medical procedures, since they allow them to keep their bodies at the ideal temperature for healing and reduce the likelihood of complications following surgery. Factors such as blood loss from shock or trauma, cold-stored blood, natural disasters, and harsh environments that may cause hypothermia all raise the risk of death, which drives the market's expansion.

 

Report Coverage

This research report categorizes the market for the global temperature modulation devices market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global temperature modulation devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global temperature modulation devices market.

 

Driving Factors

The demand for the product is driven by two major factors, including rising rates of chronic illness and road accidents. Road accidents and gunshot wounds are the leading causes of death globally, mainly because they result in severe blood loss. A condition known as hemorrhagic shock, which is brought on by significant blood loss, kills about 60,000 Americans each year; globally, the toll increases to 2.0 million. Of these hemorrhagic deaths worldwide, 1.5 million are related to physical trauma, including gunshot wounds and injuries received in car or work-related accidents. Moreover, in order to prevent microbial infection, many surgical procedures require implants and transplants that are frequently kept much below normal body temperature. Since the introduction of such implants has been demonstrated to lower the patient's body temperature, patient warming systems are required. Furthermore, weaker individuals need body-warming devices to speed up their recovery and lower their risk of problems because they have trouble controlling their body temperature. These factors drive the growth of the market for temperature modulation devices.

 

Restraining Factors

Certain areas may have unstable power infrastructure, and natural disasters or emergencies may cause supply disruptions. In situations where patient temperature control is crucial, this reliance on electrical infrastructure may present serious difficulties. These dependencies exacerbate disparities in healthcare access by becoming even more crucial in environments with restricted access to dependable power sources. In conclusion, temperature modulation devices' reliance on power will have a number of detrimental effects on the market. Additionally, predictive analysis implementation is highly expensive. These factors restrain the growth of the market for temperature modulation devices.

 

Market Segmentation

The Global Temperature Modulation Devices Market share is classified into product, application, and end-user.

 

• The convective patient warming system segment is anticipated to hold the largest share of the global temperature modulation devices market during the forecast period.    

On the basis of the product, the global temperature modulation devices market is divided into convective patient warming system, conductive patient warming system, portable blood, conductive patient cooling system, and other. Among these, the convective patient warming system segment is anticipated to hold the largest share of the global temperature modulation devices market during the forecast period.  Healthcare facilities, particularly in developed nations, have been using convective patient warming systems where warm air is circulated around the patient for a long time. This is because proper patient body temperature regulation is essential for both successful medical procedures and post-operative care. Moreover, the systems exhibit versatility and may be employed in an array of surgical operations, rendering them adjustable to diverse healthcare environments and specializations, hence augmenting the market's overall expansion.

 

• The acute care segment is anticipated to hold the largest share of the global temperature modulation devices market during the forecast period.    

On the basis of the application, the global temperature modulation devices market is divided into perioperative care, acute care, coronary care, and others. Among these, the acute care segment is anticipated to hold the largest share of the global temperature modulation devices market during the forecast period. In acute care settings, where controlling and regulating body temperature is essential for patient care and recovery, temperature modulation devices find a variety of uses. Furthermore, temperature modulation devices may be helpful for trauma patients or critically ill patients admitted to the emergency room in order to treat hypothermia, particularly if they have conditions that cause temperature dysregulation or have been exposed to environmental factor.

 

• The hospital segment is anticipated to hold the largest share of the global temperature modulation devices market during the forecast period.

On the basis of the end-user, the global temperature modulation devices market is divided into hospital, diagnostic laboratories, ambulatory surgical centers, and others. Among these, the hospital segment is anticipated to hold the largest share of the global temperature modulation devices market during the forecast period. Since hospitals must keep vaccines and pharmaceuticals at precise temperatures to ensure their efficacy and safety, hospitals are the primary locations where temperature modulation device are distributed. Furthermore, hospitals frequently store temperature-sensitive medical supplies and equipment using temperature modulation systems to avoid deterioration or damage.

 

Regional Segment Analysis of the Global Temperature Modulation Devices Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is anticipated to hold the largest share of the global temperature modulation devices market over the predicted timeframe.

 

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North America is anticipated to hold the largest share of the global temperature modulation devices market over the predicted timeframe. It is anticipated to expand in the future due to rising healthcare costs and the high cost of medical devices. Growing product development in the area of patient temperature control systems is also anticipated to propel market growth. The need for temperature modulation devices is rising in North America as a result of more defense sector investment as well as higher emergency search and rescue agency spending. This region's geographic location causes exceptionally cold weather patterns that make blizzards and heavy snowfall common. Such severe snow- and frost-related incidents have been linked to a number of recorded fatalities. These factors drive the growth of the global temperature modulation devices market over the predicted timeframe in this region.

 

Asia-Pacific is anticipated to grow at the fastest rate in the global temperature modulation devices market over the predicted timeframe. Asia Pacific is expected to develop at a rapid rate due to a number of factors, including the demand from the distant emergency healthcare and defense sectors, rising awareness, growing medical expenditures, and the growing presence of high-quality medical device manufacturers. Furthermore, a few of the main reasons fueling the demand for temperature modulation devices in the Asia-Pacific area include the rising number of surgeries brought on by the region's greater population as well as the rising frequency of unintentional accidents. These factors drive the growth of the global temperature modulation devices market over the predicted timeframe in the Asia-Pacific region. 

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global temperature modulation devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• ICU Medical, Inc.
• Stryker Corporation
• Belmont Medical Technologies
• 3M Company
• Smith’s Group plc
• Barkey GmbH & Co. KG
• Gentherm Incorporated Becton
• Dickinson and Company
• The Surgical Company
• General Electric Company
• ABB Group
• Kimberly-Clark
• Mennen Medical
• Texas instruments, Inc.
• EMIT Corp.
• BrainCool AB
• The 37Company
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In August 2023, an agreement was formed by Attune Medical and Gentherm to distribute the one-time-use temperature control device ensoETM. By inserting this device into the esophagus and connecting it to an external heat exchanger such as the Blanketrol III, a closed-loop system for accurate temperature regulation for the patient is formed. Its location in the esophagus, close to the heart and surrounding blood veins, allows for incredibly effective heat transfer.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global temperature modulation devices market based on the below-mentioned segments: 

 

Global Temperature Modulation Devices Market, By Product

• Convective Patient Warming System
• Conductive Patient Warming System
• Portable Blood
• Conductive Patient Cooling System
• Other

 

Global Temperature Modulation Devices Market, By Application

• Perioperative Care
• Acute Care
• Coronary Care
• Other

 

Global Temperature Modulation Devices Market, By End-User

• Hospital
• Diagnostic Laboratories
• Ambulatory Surgical Centers
• Other

 

Global Temperature Modulation Devices Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa