Albany, NY -- (SBWIRE) -- 11/09/2018 -- Temperature management systems, also known as thermal management systems, make use of heat transfer and thermodynamics to manage the temperature of a system. Temperature management systems aid in the regulation and maintenance of normal body temperature of patients in recovery rooms, operating theatres, intensive care units, and other areas of hospitals. These systems are critical for patients in every setting. Temperature management is a form of active treatment for a specific period of time during recovery, when the blood flow to the brain is poor.
The global Temperature Management Systems Market is segmented on the basis of application, product, and geography. On the basis of application, the market is segmented into acute care, delivery suites, emergency rooms, perioperative care, and newborn care, among many others. On the basis of product, the market is segmented into cooling accessories, warming accessories, systems for surface cooling, systems for intravascular cooling, and patient warming systems, among others. The leading segment and the fastest growing segment have been pointed out along with the factors behind their growth. The report also mentions segments experiencing sluggish growth.
The report offers a detailed overview of the global temperature management systems market. The prime factors affecting the growth of the global temperature management systems market have been studied. The report studies the effect of Porter's five forces on the market. References and case studies are included, making the report extremely invaluable. Tables, charts, graphs, and statistics have been included wherever required to make the report comprehensive. The threat of new entrants, degree of competition, bargaining power of buyers and suppliers, and the competitive landscape have been discussed.
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The global temperature management systems market is driven by low-cost surgeries and low-cost treatments that are available in many countries today. The growing prevalence of chronic diseases and a consequent rise in the number of healthcare facilities have also helped the market grow. Favorable reimbursement scenarios are boosting the adoption rate of temperature management systems. On the other hand, the high cost and high risk linked with the use of these systems are restraining the growth of the market. However, the market will continue to grow despite these challenges owing to the rising geriatric population and increasing prevalence of cardiovascular and other diseases.
On the basis of geography, the global temperature management systems market is segmented into Asia Pacific, North America, Europe, and the Rest of the World. Of these, the market is led by North America owing to technological advancements in intravascular systems. Europe is the second largest regional segment in the global temperature management systems market. Latin America, South East Asia, and the Middle East are anticipated to hold lucrative opportunities for the growth from 2016 to 2023. The medical tourism industry in India and China, coupled with favorable government initiatives for the development of healthcare systems, currently makes Asia Pacific an attractive market for these systems.
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The global temperature management systems market is fragmented with the participation of large number of companies, including new and global players. The report profiles key players that are operating in the market. These include: ZOLL Medical Corporation, Stryker Corporation 3M, Koninklijke Philips N.V., and C.R. Bard, Inc. The strategies implemented by each of these players to gain profit and grow in the market have been included. The report also compiles important information such as business and financial overview of the companies. Recent developments by market players are also covered.