The global temperature management systems market is projected to reach USD 3.9 Billion by 2028 from USD 3.0 Billion in 2023, at a CAGR of 4.9% during the forecast period. Growth in the temperature management systems market is mainly driven by the increasing prevalence of chronic and infectious diseases which leads various the rising number of surgical procedures. Hypothermia is a common condition observed in surgical procedures due to the usage of anaesthesia; therefore, it leads to increasing number of hypothermia cases expected to grow the market demand of the temperature management systems market during the forecast period.

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Based on the Product, The Temperature Management Systems market, by product, has been segmented into patient warming systems which sub categorized into Surface Warming Systems further categorized into Connective Warming Systems and Conductive warming systems and Intravascular warming systems, patient cooling systems which sub categorized into surface cooling systems and Intravascular cooling Systems and accessories for patient warming/cooling systems. Patient warming systems will drive the growth of the market due to increasing number of hypothermia cases and the growing number of surgical procedures in the countries is another major factor driving the demand for temperature management systems.

Based on the Application, the global Temperature Management Systems market is broadly segmented into Perioperative care, acute care, newborn care, and other applications. Perioperative care is expected to grow highest in the upcoming years due to the increasing number of surgical procedures performed worldwide is the major factor driving the growth of this application segment. Technological advancements, product developments and launches, and growing partnerships between key market players and hospitals are also supporting market growth.

Based on the Medical Speciality Temperature Management Systems is categorized into various segments like general surgery, cardiology, neurology, thoracic surgery, orthopaedic surgery, paediatrics, and other medical specialties (such as ophthalmic, bariatric, and cosmetic surgeries). General surgery is expected to have a highest growth in the upcoming years. The increasing number of general surgery procedures performed in the hospital while lead to the increase demand for the temperature management systems in the ICUs, NICUs and operating rooms.

Based on the region segmentation, the Temperature Management Systems market is divided into North America, Europe, Asia Pacific, and the Rest of the World. North America holds the largest share and expects to dominate the Temperature Management Systems market. Growth in the North American market is mainly driven by the Increasing usage of Increasing growth opportunities in emerging economies and Growing number of contracts and agreements between market players.

3M Company (US), GE Healthcare (US), Dragerwerk AG & Co. KGAA (Germany), Ecolab (US), Asahi-kasei Corporation (Japan), Becton, Dickinson and Company (US), ICU Medical (US), Gentherm Incorporated (US), Inspiration Healthcare Group PLC (UK), Medtronic PLC (Ireland), Stryker Corporation (US), The Surgical Company (Netherlands), Adroit Medical Systems (US), Attune Medical (US), Augustine Surgical, Inc (US), Belmont Medical Technologies (US), Biegler GMBH (Austria), Encompass Group, llc (US), Enthermics, INC (US), Hirtz & Co. KG (Germany), Istanbul Medikal ltd. (Istanbul), Life Recovery Systems (US), Medcare Visions (Germany), TahatAksi (Belarus) and Beijing Eternal Medical Technology Co., Ltd (China)

Recent Developments of Temperature Management Systems Industry

In June 2023, Dragerwerk AG & Co. KGAA has launched the FDA-cleared Babyroo TN300, a new open warmer that offers supportive lung protection and temperature stability from the moment of birth through discharge.

In July 2023, Asahi-kasei Corporation (Japan) signed an agreement with BrainCool, a medical device company specializing in temperature management solutions, for the exclusive distribution of the BrainCool System/IQool System and the IQool System Pads in the US and key markets in Europe. The companies are working toward expanding distribution to select markets in Asia.

In January 2022, ICU Medical completed the acquisition of Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical’s existing businesses, the combined companies create a leading infusion therapy company with estimated pro forma combined revenues of approximately USD 2.5 billion.

In July 2022, Gentherm acquired Jiangmen Dacheng Medical Equipment Co., Ltd., a manufacturer of medical materials and medical equipment, including patient temperature management solutions.

The global temperature management systems market is heating up, projected to rise from $3.0 billion in 2023 to $3.9 billion by 2028 at a compound annual growth rate (CAGR) of 4.9%. This growth is fueled by several key drivers, including the increasing prevalence of chronic and infectious diseases, the rising number of surgical procedures, and the growing number of hypothermia cases worldwide.

Patient warming systems are expected to dominate the temperature management systems market, driven by the need to prevent inadvertent perioperative hypothermia and reduce surgical-site infections, hospital stays, and costs per patient. The perioperative care segment will see the highest growth, propelled by technological advancements, product innovations, and strategic partnerships between market players and hospitals.

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Geographically, North America currently leads the temperature management systems market, buoyed by significant government and private investments to meet the growing demand for advanced medical solutions. However, the Asia-Pacific region presents promising opportunities for market expansion, driven by developing healthcare infrastructure and increasing awareness of temperature management systems.

While the high cost of intravascular temperature management systems and lack of awareness in developing countries pose challenges, the market is ripe for growth opportunities. Key players, such as 3M Company, GE Healthcare, Dragerwerk AG & Co. KGaA, Ecolab, and Asahi-kasei Corporation, are actively pursuing strategies like product launches, acquisitions, and distribution agreements to strengthen their market positions.

Recent developments in the industry include Dragerwerk AG & Co. KGaA’s launch of the FDA-cleared Babyroo TN300 open warmer, Asahi-kasei Corporation’s distribution agreement with BrainCool for temperature management solutions, and ICU Medical’s acquisition of Smiths Medical, bolstering its infusion therapy portfolio.

3M Company (US)

3M company offers products under four operating business segment i.e. Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. It offers temperature management solutions through its Health Care division. The Health Care Business Group serves markets that include Food Safety, Health Information Systems, Medical Solutions, Oral Care, Separation and Purification Sciences, and Other Health Care. Temperature management systems are offered through the Medical Solutions segment.  The company has operations in the US, the Asia Pacific, Europe, the Middle East and Africa (EMEA), Latin America, and Canada. Some of its major subsidiaries include 3M Australia Pty. Ltd., 3M Health Information Systems, Inc. (US), 3M China Limited, and 3M United Kingdom plc (UK). Therefore in December 2022, The company was a named defendant in approximately 5,258 lawsuits in the United States and one Canadian putative class action with a single named plaintiff, alleging that the Bair Hugger patient warming system caused surgical-site infections.

Asahi-kasei Corporation (Japan)

Asahi Kasei is a diversified manufacturer with operations in four business segments—Material, Homes, Healthcare, and Others. The Healthcare business is further segmented into Pharmaceuticals, Medical Care, and Acute Critical Care. ZOLL Medical is a subsidiary of Asahi Kasei Corporation through which company offers the wide range of temperature management systems. ZOLL Medical takes care of the company’s Healthcare business. The company develops and markets medical devices and software solutions to aid in the advancement of emergency care and increase clinical and operational efficiencies..  For Instance, In July 2023, The company signed an agreement with BrainCool, a medical device company specializing in temperature management solutions, for the exclusive distribution of the BrainCool System/IQool System and the IQool System Pads in the US and key markets in Europe. The companies are working toward expanding distribution to select markets in Asia.

As the demand for temperature management systems continues to rise, driven by an aging population, increasing surgical volumes, and advancements in medical technology, the market is poised for sustained growth, offering significant opportunities for established players and newcomers alike.

Temperature Management Systems Market in terms of revenue was estimated to be worth $3.0 billion in 2023 and is poised to reach $3.9 billion by 2028, growing at a CAGR of 4.9% from 2023 to 2028 according to a new report by MarketsandMarkets™.

Temperature Management Systems Market by Product (Warming Systems (Surface, Intravascular), Cooling Systems, Application (Perioperative, Acute, Newborn Care), Medical Speciality (Cardiology, Neurology, Pediatrics, Orthopedics) – Global Forecast to 2028

Growth in the temperature management systems market is mainly driven by the increasing prevalence of chronic and infectious diseases, the rising number of surgical procedures, and the increasing number of hypothermia cases expected to offer growth opportunities for players operating in the temperature management systems market during the forecast period. However, the high cost of intravascular temperature management systems and a lack of awareness are restricting the growth of this market.

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The Temperature Management Systems market, by product, has been segmented into patient warming systems, patient cooling systems, and accessories for patient warming/cooling systems. Patient warming systems will drive the growth of the market due to increasing number of hypothermia cases. In the US and Canada, the number of hypothermia-related deaths is estimated at 25,000 and 8,000, respectively. Preventing inadvertent perioperative hypothermia helps to reduce surgical-site infections, the length of hospital stays, and the cost per patient.

By Application, the global Temperature Management Systems market is broadly segmented into  Perioperative care, acute care, newborn care, and other applications. Perioperative care is expected to grow highest in the upcoming years. The increasing number of hospital and advance medical surgical procedures will driving the growth of this application segment. Technological advancements, product developments and launches, and growing partnerships between key market players and hospitals are also supporting market growth.

By medical specialty, the global Temperature Management Systems market is broadly segmented into general surgery, cardiology, neurology, thoracic surgery, orthopedic surgery, pediatrics, and other medical specialties (such as ophthalmic, bariatric, and cosmetic surgeries). General surgery is expected to grow highest in the upcoming years. The increasing number of surgical procedures performed worldwide is the major factor driving the growth of this medical specialty segment.

Based on the region, the Temperature Management Systems market is segmented into North America, Europe, Asia Pacific and Rest of the world. The North American market is driven by the growing focus on growing government and private investments to meet the increasing demand for increasing prevalence of chronic and infectious diseases.

Temperature Management Systems Market Dynamics:

Drivers:

1. Increasing number of hypothermia cases

Restraints:

1. Lack of awareness regarding temperature management systems in developing countries

Opportunities:

1. Growing number of contracts and agreements between market players

Challenge:

1. Product recalls

Key Market Players of Temperature Management Systems Industry:

The Key players in the Temperature Management Systems market are 3M Company (US), GE Healthcare (US), Dragerwerk AG & Co. KGAA (Germany), Ecolab (US), Asahi-kasei Corporation (Japan), Becton, Dickinson and Company (US), ICU Medical (US), Gentherm Incorporated (US), Inspiration Healthcare Group PLC (UK), Medtronic PLC (Ireland), Stryker Corporation (US), The Surgical Company (Netherlands), Adroit Medical Systems (US), Attune Medical (US), Augustine Surgical, Inc (US), Belmont Medical Technologies (US), Biegler GMBH (Austria), Encompass Group, llc (US), Enthermics, INC (US), Hirtz & Co. KG (Germany), Istanbul Medikal ltd. (Istanbul), Life Recovery Systems (US), Medcare Visions (Germany), TahatAksi (Belarus) and Beijing Eternal Medical Technology Co., Ltd (China)

Recent Developments:

• In June 2023, Dragerwerk AG & Co. KGAA has launched the FDA-cleared Babyroo TN300, a new open warmer that offers supportive lung protection and temperature stability from the moment of birth through discharge.
• In July 2023, Asahi-kasei Corporation (Japan) signed an agreement with BrainCool, a medical device company specializing in temperature management solutions, for the exclusive distribution of the BrainCool System/IQool System and the IQool System Pads in the US and key markets in Europe. The companies are working toward expanding distribution to select markets in Asia.
• In January 2022, ICU Medical completed the acquisition of Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical’s existing businesses, the combined companies create a leading infusion therapy company with estimated pro forma combined revenues of approximately USD 2.5 billion.
• In July 2022, Gentherm acquired Jiangmen Dacheng Medical Equipment Co., Ltd., a manufacturer of medical materials and medical equipment, including patient temperature management solutions.