Global Patient Warming Devices Market: By Product Type (Surface Warming System, Intravascular Warming System, Patient Warming Accessories), By Application (Acute Care, Perioperative Care, New Born Care, Others), By End User (Hospitals, Clinics, Others), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global patient warming devices market was valued at US $ XX Mn and expected to grow at 7.76% Compound Annual Growth Rate (CAGR) from 2018 to 2024.
Market Outline: Patient Warming Devices Market
Hypothermia is a medical emergency that occurs when your body loses heat faster than it can produce heat, causing a dangerously low body temperature. Normal body temperature is around 98.6 F (37 C). Hypothermia occurs as your body temperature falls below 95 F (35 C). If the body temperature falls down, the heart, nervous system and other organs can’t work normally. Left untreated, hypothermia can eventually lead to complete failure of your heart and respiratory system and eventually to death. Patient warming devices are primarily used in health care settings to ensure, that the patients tolerate the unintended loss of body heat by helping them achieve normal body temperature.
Market Dynamics: Patient Warming Devices Market
Increase in the prevalence of geriatric population along with growing health issues is driving the growth of the patient warming devices market. Rising count of the surgeries is another factor influencing the growth of the patient warming devices market. Administration of anesthesia during the surgery causes a perioperative temperature drop in patients, which require a device that monitors the body temperature of the patient in order to avoid complications during the surgeries. According to World Health Organization (WHO), around 300 million surgeries were performed in 2012, the count increase in the upcoming years, which likely to enhance the growth of the patient warming devices market. The technological advancements are likely to provide an opportunity to the manufacturers in improving their product which would enhance the growth of the patient warming devices market. However, the stringent government regulations are hampering the growth of the patient warming devices market.
Market Scope: Patient Warming Devices Market
Patient warming devices market is segmented based on the product type, application, and end user
Based on the product type, the market is segmented into the following:
- Surface Warming System
- Intravascular Warming System
- Patient Warming Accessories
Based on the application, the market is segmented into the following:
- Acute Care
- Perioperative Care
- New Born Care
Based on the distribution channel, the market is segmented into the following:
Regional Analysis: Patient Warming Devices Market
Geographically, global patient warming devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America patient warming devices market is growing number of surgeries. American Society of Anesthesiologists (ASA) states that around 50% of the U.S. surgical patients suffer from inadvertent perioperative hypothermia (IPH). CDC stated that during 2016, more than 250,000 heart bypass procedures were carried out using heating-cooling devices in the US. Europe patient warming devices market hold the position next to that of North America. The Asia Pacific patient warming devices market is expected to grow in the forecasted period owing to the presence of the emerging economies. The support from the government in developing the healthcare infrastructure is anticipating the growth of the patient warming devices market.
Competition Assessment: Patient Warming Devices Market
Some of the players in the global patient warming devices market include:
- Smiths Group plc (UK)
- General Electric Company (U.S)
- Cincinnati Sub-Zero Products, LLC (U.S)
- Sino Medical-Device Technology Co., Ltd. (China)
- Meridian Medical Systems LLC (U.S)
- Estill Medical Technologies, Inc. (U.S)
- 3M Healthcare (U.S)
- Becton, Dickinson and Company (U.S)
- Boston Scientific Corporation (U.S)
- Barkey GmbH & Co. KG (Germany)
Notable Market Developments: Patient Warming Devices Market
- In December 2017, Audax has acquired Belmont Instrument