Patient Warming Devices Market: Key Trends
Due to the rising incidence of chronic ailments, the number of surgeries conducted globally is expected to surge in the forthcoming years. This will create increased sales opportunities for patient warming devices. While developed regions will continue to dominate the global market, the rising spending on the healthcare sector is expected fuel prospects for patient warming devices sales across emerging nations. Transparency Market Research (TMR) forecasts the market to show a CAGR of 5.2% between 2015 and 2023, in response to the increasing geriatric population and the rising incidence of premature births globally.
On the flip side, the market faces a challenge from the rising awareness pertaining to the side-effects associated with the use of certain patient warming devices. Nevertheless, advent of advanced products will have a positive influence on the market’s overall trajectory.
TMR estimates the overall value of the global patient warming devices market at US$1.6 bn in 2014. The market is forecast to reach US$2.58 bn by the end of 2023.
Rising Geriatric Population in North America Boosts Sales of Patient Warming Devices
Regionally, North America has been exhibiting the most attractive opportunities for patient warming devices manufacturers around the world. The region emerged dominant in the global market with a share of 46% in 2014. The U.S. and Canada have emerged as the largest markets for patient warming devices in North America. The increasing surgical procedures conducted yearly have been fuelling demand for patient warming devices across the U.S. This country is thus expected to remain lucrative for leading manufacturers through the forecast period.
Furthermore, the rising geriatric population will also bolster growth opportunities for the patient warming devices market in North America. As per TMR, this regional market is expected to reach US$1.14 bn by 2023, from US$749.4 mn in 2014. The patient warming devices market in North America is forecast to report a CAGR of 4.7% between 2015 and 2023.
In Europe, the market is expected to gain from the rising prevalence of chronic ailments among the aging population. The well-established healthcare infrastructure in Europe also augurs well for the patient warming devices market in the region.
However, as per TMR, the Asia Pacific market for patient warming devices is likely to prove the most lucrative in the forthcoming years. The region currently boasts a booming medical tourism industry. The overall number of surgical interventions conducted in the region yearly has also increased considerably. The demand for patient warming devices is thus expected to rise at the highest pace in Asia Pacific. Furthermore, the increasing healthcare spending witnessed across emerging economies such as India and China will boost demand for patient warming devices in the region. TMR forecasts the patient warming devices market in Asia Pacific to rise at a CAGR of 6.6% between 2015 and 2023.
Application of Patient Warming Devices for Perioperative Care to Increase due to Rising Cases of Hypothermia
Based on application, the use of patient warming devices is expected to rise significantly in the perioperative care segment. As per TMR, the segment held the largest share of 40.2% in the global patient warming devices market in 2014. It is also expected to remain dominant in the market through the forecast period. The rising demand for advanced temperature management devices and the increasing number of surgical interventions conducted globally supports the expansion of this segment. The rising incidence of hypothermia due to the cold environment in operation theatres is expected to boost demand from patient warming devices for perioperative care.
However, rising at a CAGR of 5.0% between 2015 and 2023, TMR forecasts the acute care segment to exhibit the highest growth during the forecast period. Furthermore, the application of patient warming devices is also expected to surge in new born care.
Some of the leading companies operating in the market include 3M Health Care, ZOLL Medical Corporation, C. R. Bard, Inc., Smiths Medical, Stryker Corporation, Covidien plc, and others.
Chapter 1 Preface
1.1 Report Description
1.2 Market Segmentation
1.3 Research Methodology
Chapter 2 Executive Summary
2.1 Patient Warming Devices: Market Snapshot
2.2 Global Patient Warming Devices Market Share, By Geography, 2014 & 2023 (Value %)
2.3 Global Patient Warming Devices Market, By Product Type, 2014 (US$ Mn)
2.4 Global Patient Warming Devices Market, By Application, 2014 (Us$ Mn)
Chapter 3 Patient Warming Devices Market - Industry Analysis
3.2 Market Dynamics
188.8.131.52 Rising Number of Surgical Procedures across the World
184.108.40.206 Increase in Prevalence of Cardiovascular and Oncological Conditions Globally
220.127.116.11 Premature Babies and Neonatal Hypothermia Require Temperature Management Products
18.104.22.168 Increase in the Global Geriatric Population
22.214.171.124 Side Effects Associated with Some Products Could Hamper Demand
126.96.36.199 Introduction of Technologically Advanced Products such as Targeted Temperature Management Products
188.8.131.52 Increasing Awareness and Improving Health Care Infrastructure in Emerging Economies such as China, India, Brazil, and Russia
3.3 Porter’s Five Forces Analysis - Patient Warming Devices Market
3.4 Regulatory Scenario (U.S.)
3.5 Market Attractiveness Analysis - Patient Warming Devices Market, By Geography, 2014
3.6 Competitive Landscape - Global Patient Warming Devices Market Share, By Key Players, 2014 (%)
Chapter 4 Market Segmentation – By Product
4.2 Global Patient Warming Devices Market Revenue, By Product, 2013–2023 (US$ Mn)
4.3 Global Surface Warming Systems Market Revenue, 2013–2023 (US$ Mn) and Analysis
4.4 Global Intravascular Warming Systems Revenue, 2013–2023 (US$ Mn) and Analysis
4.5 Global Patient Warming Accessories Market Revenue, 2013–2023 (US$ Mn) and Analysis
Chapter 5 Market Segmentation – By Application
5.2 Global Patient Warming Devices Market Revenue, By Application, 2013–2023 (Us$ Mn)
5.3 Global Acute Care Market Revenue, 2013–2023 (US$ Mn) and Analysis
5.4 Global Perioperative Care Market Revenue 2013-2023 (US$ Mn) and Analysis
5.5 Global New Born Care Market Revenue, 2013–2023 (US$ Mn) and Analysis
5.6 Global Other Applications Market Revenue, 2013–2023 (US$ Mn) and Analysis
Chapter 6 Market Segmentation – By Geography
6.2 Global Patient Warming Devices Market Revenue, 2013–2023 (Us$ Mn)
6.3 North America Patient Warming Devices Market Revenue, By Country, 2013–2023 (Us$ Mn)
6.4 Europe Patient Warming Devices Market – Revenue, By Country, 2013–2023 (Us$ Mn)
6.5 Asia Pacific Patient Warming Devices Market Revenue, 2013–2023 (Us$ Mn)
6.6 Latin America Patient Warming Devices Market Revenue, 2013–2023 (Us$ Mn)
6.7 Middle East & Africa Patient Warming Devices Market Revenue, 2013–2023 (Us$ Mn)
Chapter 7 Recommendations
Chapter 8 Company Profiles
8.1 3M Healthcare
8.2 C.R. Bard, Inc.
8.3 GE Healthcare
8.4 Inspiration Healthcare (INDITHERM)
8.5 Philips Healthcare
8.6 Medtronic plc (Covidien plc)
8.7 Smiths Medical (Smiths Group plc)
8.8 Stryker Corporation
8.9 ZOLL Medical Corporation (Asahi Kasei)
This report on the patient warming devices market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture and commercialization of various patient warming devices such as surface warming devices as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered in the scope of the study. This section also provides the overall information and data analysis of the global patient warming devices market with respect to the leading market segments based on major products, applications and geographies.
The global patient warming devices market has been studied based on major product/device segments, application segments, and their regional as well as national markets. Based on product type, the global market has been categorized into three major segments: surface warming systems, intravascular warming systems, and patient warming accessories. Based on applications, the patient warming devices market has been categorized into four major segments: acute care, perioperative care, new born care, and others. The market for these segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence. Market revenue in terms of US$ Mn for the period from 2013 to 2023 along with the compound annual growth rate (CAGR %) from 2015 to 2023 are provided for all segments, considering 2014 as the base year.
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the patient warming devices market and could influence the market in the near future. Market attractiveness analysis has been provided in the market overview section in order to explain the intensity of competition in the market across different geographies. Porter’s five forces analysis is also provided in this section to understand the patient warming devices market considering the different parameters that have an impact on the sustainability of the companies operating in the market. The competitive scenario among different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global market.
Geographically, the patient warming devices market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Each regional market for patient warming devices has been further categorized into major national markets such as the U.S, Canada, Germany, the U.K., Japan, China, and Brazil. Market revenue in terms of USD million for the period from 2013 to 2023 along with CAGR % from 2015 to 2023 are provided for all the regions and nations considering 2014 as the base year.
The recommendations section included in the report would assist existing market players in expanding their market shares, and new companies in establishing their presence in the global market. The report also profiles major players in the patient warming devices market based on various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Major players profiled in this report include 3M Health Care (3M), Covidien plc (Medtronic plc), C. R. Bard, Inc., GE Healthcare, INDITHERM (Inspiration Healthcare), Philips Healthcare, Smiths Medical (Smiths Group plc), Stryker Corporation, and ZOLL Medical Corporation (Asahi Kasei Group).
The global patient warming devices market is segmented as follows:
Global Patient Warming Devices Market, by Product Type
- Surface Warming System
- Intravascular Warming System
- Patient Warming Accessories
Global Patient Warming Devices Market, by Applications
- Acute Care
- Perioperative Care
- New Born Care
Global Patient Warming Devices Market, by Geography
- North America
- Rest of the Europe
- Asia Pacific (APAC)
- Rest of the APAC
- Latin America (LATAM)
- Rest of the LATAM
- Middle East and Africa