Deep Analysis of Impact of COVID-19 on “Temperature Modulation Devices Market 2019-2026” Growth Worldwide….
The global temperature
modulation devices market
size is expected to reach USD 3.55
billion by 2026, registering a CAGR
of 7.1% over the forecast period according to a new report by Grand View
Research, Inc. Growing incidences of hypothermia during surgical procedures
along with rising number of injuries induced blood loss is expected to drive
the market over the forecast period. In addition, growing necessity for patient
temperature control system in military forces operating in extreme temperature
environment that are also prone to gunshot/explosive wounds, are also expected
to propel the temperature control system market demand for such devices.
Owing to the exponential growth in the number
of Covid-19 positive cases, the risk for patient hospitalization increases as
healthcare institutions reach their capacity. Since fever and pneumonia are
among the most commonly observed symptoms that exhibit severity, controlling
patient temperature becomes a priority. Demand for patient temperature
modulation devices is on the rise as critical patients require body warmers or
body cooling devices to regulate the fever and prevent mortality due to patient
shock. We are considering this pandemic impact on our estimates. The updated
report will include Covid-19 as a key market contributor.
Increasing number of road accidents is
also anticipated to augment the demand for patient temperature control systems.
According to Global Status Report on Road Safety 2018, approximately 1.35
million individuals die of road accidents every year. A significant percent of
victims die due to severe blood loss. Ambulatory services, therefore, need
temperature control systems such as blood/IV warmers to regulate the
temperature of stored blood/IV as cold storage fluids may aggravate the
injuries within the victim and can also induce fatal hypothermic shock. Road
mishaps is the 8th leading cause of death for individuals across all ages. This
number is expected to grow by three times in the low-income economies as
compared to high-income economies. Hence, growing number of road accidents is
expected to drive the temperature control devices market in future.
Military use of temperature control
devices such as blood/IV warmers is also significant with around 18-20.0% of
the global demand for these devices being sourced for military/defense
departments. Additionally, blood/IV warmers are also required by search and
rescue forces, as they deal with numerous victims of natural calamities and
mishaps that often occur in the remotest or most extreme environments.
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Growth of surgical procedures
worldwide has also led to the increase in demand for both conductive and
convective patient warming devices. These devices help surgeons to maintain a
patient’s body temperature at optimum levels and prevent the risk of surgery
induced hypothermia.
Further Key Findings from the Report
Suggest:
·
By product, convective patient
warming systems is expected to grow in the forthcoming years owing to
increasing need for surgical procedures and to increase the recovery speed
among patients.
·
Besides the temperature control
system market for product accessories, the portable Blood/IV warmers segment is
expected to see a respectable growth during the forecast period due to growing
demand from ambulatory services and military/defense sectors
·
Asia Pacific is anticipated to
be the fastest growing segment owing to growing number of surgeries, presence
of huge population demography, and increasing quality of healthcare demanded by
patients
·
The players profiled in
temperature modulation devices market are Stryker, Gentherm Medical, Belmont
Medical, Kimberly-Clark, 3M, Mennen Medical, and Smiths Medical
The
global temperature modulation devices market size was estimated at USD 2.0
Billion in 2018 and is projected to grow at a CAGR of 7.1% by 2026. Increasing
number of surgical procedures worldwide, along with growing incidence of road
accident fatalities is anticipated to drive the temperature modulation devices
market. Additionally, growing demand of blood/IV warmers from ambulatory
services and military/defense sectors are expected to further fuel the market’s
growth in the near future.
Incidence
of patient hypothermia are the biggest factor that demand the need for patient
temperature control systems globally. In the U.S., an estimated 10-12 million
incidents of hypothermia along with another 2-3 million incidents of
hyperpyrexia have been observed. Factors such as blood loss due to
injury/shock, extreme environments, natural calamities, and cold stored
blood/IV that may cause hypothermia, increases the risk of fatality. It has
been observed that in the U.S. out of few million incidents of IV induced hypothermia,
75.0% cases are caused in ambulatory settings. In order to prevent risk due to
blood/IV induced hypothermia, portable blood/IV warmers have witnessed an
increasing demand in the U.S. and EU since 2010, thereby driving the market’s
growth over the forecast period.
Road
accidents and gunshot wounds are the primary reason for fatalities due to major
blood loss, globally. Hemorrhagic shock results in the death of around 60,000
U.S. citizens, whereas globally the number of fatalities go up to 2.0 million
deaths annually. Among the global hemorrhagic fatalities, 1.5 million are due
to physical injury such as road/workplace accident, and gunshot wounds.
Blood/IV warmers reduce the risk of hypothermic complications caused by
inducing cold stored blood/IV to hemorrhagic patients and thereby help in
increasing the chances of patient survival.
Growing
incidence of surgical procedures have further fueled the demand for patient
temperature control devices in North America. Over 70.0% of patient warming
demands in the U.S. are met in hospitals, whereas the rest are met in
ambulatory services and defense sectors. Major surgical procedures often
require considerable time to complete. Furthermore, many surgical procedures
require transplantation and implants that are often maintained well below
regular body temperature in order to control microbial infection. Introduction
of such implants are observed to reduce the body temperature of the patient,
thereby requiring patient heating systems. Additionally, weaker patients find
it difficult to regulate their body temperature and therefore, require body
warming devices to help them recover better and reduce the risk of
complications.
Browse Press
Release of this report:
Grand View Research has segmented the
global temperature modulation devices market based on Product:
Product Outlook (Revenue, USD Million, 2015 - 2026)
·
Portable Blood/IV fluid warmers
·
Conductive patient warming
systems
·
Convective patient warming
systems
·
Conductive patient cooling
systems
·
Other Products &
Accessories
By
product type, temperature modulation devices market is categorized into
portable blood/IV warming devices, conductive patient heating systems,
convective patient heating system, convective patient cooling systems, and
other products & accessories. Among the product types, convective patient
heating system have been observed to be the largest market in terms of value,
owing to the greater demand of patient warming systems in western countries and
growing patient pool globally. In addition, growing demand from remote clinics
and emergency centres is also expected to fuel the demand for temperature
control systems market in future.
Accessories
and other products were observed to be the second largest market segment in the
temperature control devices market segment. Other products include
non-portable/traditional blood/IV warmers such as 3M’s Ranger and similar
products, along with non-contact temperature regulators and room temperature
control systems. Accessories hold a major part of the market, as most consumers
often continue to demand product accessories in higher volume than that of the
complete device itself. Hospital institutions have steady long-term contracts
with suppliers that manufacture temperature modulation device accessories.
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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