The Business Research Company’s Temperature Management Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON , UK, June 11, 2021 /EINPresswire.com/ — A rise in the prevalence of chronic diseases is expected to drive the temperature management market. For instance, in 2019, 1,762,450 new cancer cases and 606,880 cancer deaths are predicted to occur in the US.in 2018, there were nearly 18.1 million new cases of cancer worldwide. A decrease in temperature increases the inflammation or multiplying of cancer cells in patients. It also acts as a predictor of death for critically ill cancer patients. Hyperthermia, a type of treatment that uses a high temperature, is therefore used for treating cancer patients. Therefore, maintaining temperature for patients with chronic diseases helps in decreasing the infection and saving lives which in turn drives the temperature management market.
The global temperature management market is expected to grow from $2.15 billion in 2020 to $2.36 billion in 2021 at a compound annual growth rate (CAGR) of 9.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The temperature management market is expected to reach $2.75 billion in 2025 at a CAGR of 4%.
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The temperature management market consists of sales of products or devices used to control and maintain specific body temperature through external warming or cooling for a specific duration. The temperature management devices are used in operation theatres during surgeries, ICU, blood warming, and in other chronic conditions such as cardiac ailments, neurological disorders and cancer.
Major players in the temperature management devices market are 3M Company, Becton, Dickinson and Company, Draegerwerk AG & Co. KGaA, Smiths Medical, Stryker Corporation, The 37company (The Surgical Company), Zoll Medical Corporation (A Subsidiary of Asahi Kasei Corporation), C. R. Bard, Mennen Medical, and Medtronic (Covidien).
The global temperature management market is segmented by product into patient warming devices, patient cooling devices, by application into surgery, cardiology, pediatrics, neurology, orthopedic surgery, others, and by end-use into operating room, neonatal ICU, emergency room, ICU, others.
Temperature Management Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides temperature management market overview, forecast temperature management global market size and growth for the whole market, temperature management global market segments, and geographies, temperature management market trends, temperature management market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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