Analysis on New Product Launches in COVID-19 Related Markets: Patient Temperature Management Market 2020-2024 | Evolving Opportunities with 3M Co. and Asahi Kasei Corp. | Technavio

LONDON–()–The global patient temperature management market is expected to grow by USD 1.09 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 7%.

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The market is driven by the rising number of surgical procedures. In addition, technological advances in patient temperature management products are anticipated to boost the growth of the patient temperature management market.

Factors such as sedentary lifestyles, environmental pollution, stress, excessive consumption of alcohol, and unhealthy dietary habits have increased the prevalence of various chronic conditions. This has increased the number of hospital visits and surgical procedures across the world. For instance, in 2017, around 28.6 million people visited hospitals and ASCs, and 53% of all surgical procedures were performed in hospitals and 47% were performed in ASCs in the US alone. Surgeries related to CVDs, orthopedics, and cancer are some of the most commonly performed procedures. In the treatment of cancer, hyperthermia is used to make some cancer cells more sensitive to radiation and kill cancer cells that cannot be destroyed by radiation therapy. In such conditions, patient temperature monitoring systems are used. With the growing number of surgical procedures, the demand for patient temperature monitoring systems is expected to increase during the forecast period.

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Major Five Patient Temperature Management Companies:

3M Co.

3M Co. operates its business through segments such as Industrial, Health Care, Electronics and Energy, Electronics and Energy, and Consumer. The company offers a wide range of patient temperature management systems. Some of its key offerings include 3M Bair Hugger Normothermia System, 3M Bair Paws System, and 3M Ranger Blood & Fluid Warming System.

Asahi Kasei Group

Asahi Kasei Group operates its business through segments such as Material, Homes, Health Care, and Others. The company offers a wide range of patient temperature management systems. Some of its key offerings include Thermogard XP Temperature Management System, STx+ Surface Pad System, and Catheter Family.

Becton, Dickinson and Co.

Becton, Dickinson and Co. operates its business through segments such as BD Medical, BD Life Sciences, and BD Interventional. enFlow IV fluid and Blood Warming System is the key offering of the company.

Geratherm Medical AG

Geratherm Medical AG operates its business through segments such as Healthcare Diagnostic, Respiratory, Medical Warming Systems, and Cardio/Stroke. The company offers a wide range of patient temperature monitoring systems under the brands, UniqueTemp, Unique Resc, and LMT.

Medtronic Plc

Medtronic Plc operates its business through segments such as Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group. The company offers a wide range of patient temperature monitoring systems. Some of its key offerings include WarmTouch Full-Body/Multi­Access Blanket, WarmTouch Lower Body Blanket, WarmTouch Pediatric Blanket, and WarmTouch Cardiac Blanket.

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Patient Temperature Management Market Product Outlook (Revenue, USD Billion, 2020-2024)

  • Patient warming devices
  • Patient cooling devices

Patient Temperature Management Market Geography Outlook (Revenue, USD Billion, 2020-2024)

  • North America
  • Europe
  • Asia
  • ROW

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Related Reports on Healthcare Include:

Global Infrared Thermometers Market – Global infrared thermometers market by type (non-contact infrared thermometers and contact infrared thermometers) and geography (APAC, Europe, MEA, North America, and South America).

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