Patient Temperature Management Market Report 2022 – Latest Analysis Report, Post COVID-19 Growth Projection, High CAGR, Expected Demand and Revenue, New Market Trends and Forecast to 2031

Kenneth Research, in its repository of market research reports, has recently added a report titled Patient Temperature Management Market market, that emphasizes on the recent market trends and opportunities available for the growth of the market for the forecast period 2022-2031. The growth of the Patient Temperature Management Market market can be attributed to the increasing health spending by nations across the globe, and for the rapid innovations observed in the medical sector. According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Patient Temperature Management Market products.

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Patient Temperature Management Market For Cooling Systems Analysis – 2018-2027

Patient temperature management systems are used to control and manage the body temperature of patients. These systems bring the temperature down by cooling the body through therapeutic hypothermia and then maintain the body at the normal temperature. The market for patient temperature management for cooling systems is anticipated to grow at a CAGR of 6.34% over the forecast period, i.e., 2020-2027. The significant growth can be primarily attributed to the growing cases of cardiovascular diseases, neurological diseases and others that require effective temperature management.

The market is segmented by cooling systems, by components, by application, by end user and by region. The segment for cooling systems is further segmented into conventional cooling systems, surface cooling systems, intravascular cooling systems and transnasal cooling systems. Out of these, the surface cooling segment was estimated to hold 48% of the total market share in 2018 and is predicted to grow at the highest rate during the forecast period as a result of increasing usage of surface cooling systems such as blankets and pads containing cooling fluids either in the form of air or water.

Based on application, patient temperature management market for cooling systems is segmented into cardiology, neurology, orthopedics, pediatric and others, out of which, the cardiology segment is projected to hold a significant market share and reach a market value of USD 335.15 million by 2027. The growth can be attributed to rising incidences of heart disorders such as stroke, myocardial infarction and cardiac arrest among others.

On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The largest share was held by the market in North America while the highest growth over the forecast period is anticipated to be observed by the market in Asia Pacific with a CAGR of 7.34% during the forecast period. The market in Asia Pacific is led by China with a market value of USD 82.01 million in 2018. The demand for patient temperature management systems is high on account of technological advancements and rising incidences of various disorders.

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Some of the leading key players in the patient temperature management market for cooling systems are Becton, Dickinson and Company, Stryker, ZOLL Medical Corporation, QuickCool AB, GENTHERM, Attune Medical, Hirtz & Co. KG and BrainCool.

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