Temperature Modulation Devices Market Projected To Exhibit Robust CAGR of 7.1% For The Forecast Period From 2019 To 2026: Grand View Research Inc.
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.
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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.
Temperature
Modulation Devices Market Report Highlights
- 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
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.
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.
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
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