Temperature Management Systems Market Insight and Trends 2027
The global Temperature Management Systems market gathered revenue around USD 2.0 Billion in 2020 and market is set to grow USD 5.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 4.5% during the prediction period 2021 to 2027.
Growth Factors:
The Market growth is largely driven by factors increasing the global incidence of chronic conditions and the subsequent increase in the number of surgical procedures. The growing number of contracts and agreements between market players is also expected to offer a wide range of growth opportunities for market players during the forecast period.
By applications, the temperature management market is segmented into perioperative care, acute care, newborn care, and other applications. Among these, the perioperative care segment accounted for the largest share of the market in 2020. The increasing number of surgical procedures performed worldwide is the major factor driving the growth of this application segment. In addition, technological advancements, product development and launches, and growing partnership between key market players and hospitals are also supporting market growth.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Temperature Management Systems market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Temperature Management Systems market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 5.9 Billion by 2027 |
| Growth Rate | CAGR of 4.5% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Product, Medical specialty, Application, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | 3M Company, Smiths Medical, ZOLL Medical, Becton, Dickinson and Company), Drägerwerk, Ecolab, GE Healthcare, Gentherm, Geratherm Medical, Inspiration Healthcare, Medtronic, Stryker Corporation, The Surgical company, Adroit Medical Systems. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Temperature Management Systems market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America is expected to hold the highest share in 2020 analysis :
North America, comprising the US and Canada, accounted for the largest share of the temperature management market in 2020. The large volume of surgical procedures performed in North American countries is a major factor driving market growth in this region. Growth in the geriatric population, the rising incidence of cardiac arrests and neurological disorders, and the availability of technologically advanced products such as standalone and battery-powered devices are the other factors supporting the growth of the temperature management market in North America. The market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period. A number of factors such as the growing demand for aesthetic and medical surgeries, rising incidence of cardiac arrests and CNS disorders, government efforts to increase access to elective surgeries, and improving healthcare infrastructure are driving the growth of the temperature management market in the Asia Pacific.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Temperature Management Systems Market include: 3M Company, Smiths Medical, ZOLL Medical, Becton, Dickinson and Company), Drägerwerk, Ecolab, GE Healthcare, Gentherm, Geratherm Medical, Inspiration Healthcare, Medtronic, Stryker Corporation, The Surgical company, Adroit Medical Systems, Attune Medical, Augustine Surgical, Belmont Medical Technologies, Biegler GmbH, Encompass Group, Enthermics (US), Hirtz & Co. KG, Istanbul Medikal Ltd, Life Recovery Systems, MedCare Visions GmbH, Vyaire Medical, Inc..
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Product
Medical specialty
Application
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Temperature Management Systems market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Temperature Management Systems market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Temperature Management Systems markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Temperature Management Systems market Study:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers