Global Patient Warming Devices Market: Snapshot
Hypothermia is a major cause of death in severely wounded patients. Rewarming is a major challenge, particularly for those who need operative or angiographic intervention. Patient warming is more than providing relief to the patients. Patient warming devices help patients to tolerate the unintended loss of body heat by helping them achieve normal body temperature or normothermia, leading to faster recovery. Patient warming devices are primarily used in health care settings by physicians and nursing staff for better care of the patients during surgeries and patient transfer, severely injured or diseased patients, anesthesia treated patients, and in acute care settings.
The increase in the number of surgical procedures, rise in the prevalence of cardiovascular and oncology conditions, growing geriatric population and various other factors has facilitated the growth of the market. Additionally, the introduction of technologically advanced products and increasing the awareness can create large number of opportunities for rapid growth of the market.
The global patient warming devices market is expected to reach US$2.78 bn by the end of 2024. The market was valued at US$1.73 bn in 2015. If these figures hold true, the global market will exhibit a CAGR of 5.3% between 2016 and 2024.
Use of Patient Warming Devices to Remain High in Perioperative Care
The market consists of various types of products such as surface warming systems, intravascular warming systems and patient warming accessories. Of these, surface warming systems accounted for 76% of the overall market in 2015, thus emerging as the leading segment. Through the course of the forecast period, the segment is expected to retain its dominance as surface warming systems are safe, efficient, simple to use, and come at low cost. However, the intravascular warming systems segment is expected to report a higher CAGR during the course of the forecast period. The growth witness in the segment is ascribable to the rising incidence of cardiovascular ailments, traumatic brain injury, and stroke.
Major patient warming device applications comprise four segments: Acute care, perioperative care, new born care, and others. Among major application segments for patient warming devices, acute care applications are gaining intense popularity and there have been increasing demand from acute care centers located world over. The perioperative care segment held the largest share in the global market in 2015. It is also expected to remain the dominant application segment through the forecast period. The rising incidence of severe illnesses and disorders that lead to the requirement of surgical intervention is often accompanied by hypothermia. Therefore, perioperative care segment would increasingly contribute towards the global patient warming devices market during the forecast period.
North America Emerges as Largest Regional Market for Patient Warming Devices
Geographically, the patient warming devices market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of 45.7% in the global patient warming devices market in 2015, followed by Europe and Asia Pacific respectively. The factors such as technological advancement, growing number of surgeries, well-established health care infrastructure as well as high awareness levels are responsible for the largest share of the North America patient warming devices market.
In addition, large geriatric population in the developed economies of North America, Europe is likely to support further growth of this market in these regions. Asia Pacific is anticipated to witness the fastest CAGR during the forecast period due to high prevalence cardiovascular and other severe illnesses/disorders, increase in the number of surgical procedures in several emerging economies, rise in geriatric population in few countries such as Japan and South Korea, and growing investments by market players.
The key players operating in the global patient warming devices market are 3M Health Care, ZOLL Medical Corporation, C. R. Bard, Inc., Smiths Medical, Stryker Corporation, Medtronic plc, GE Healthcare, Inspiration Healthcare (INDITHERM), and Philips Healthcare among others. The key market players are actively involved in constant innovations and developments related to technology and application to cater the multi-dimensional needs of the end-users for maintaining their position in the global market.
Global Patient Warming Devices Market: Overview
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 market with respect to the leading market segments based on major products, applications and geographies.
Global Patient Warming Devices Market: Key Segments
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 market has been categorized into four major segments: acute care, perioperative care, new born care, and others. Based on end user, the market has been categorized into four major segments: hospitals, clinics, nursing facilities 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 2014 to 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all segments, considering 2015 as the base year.
Global Patient Warming Devices Market: Scope of the Report
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 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.
Global Patient Warming Devices Market: Regional Outlook
Geographically, the global 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, France, the U.K., Japan, China, India and Brazil. Market revenue in terms of USD million for the period from 2014 to 2024 along with CAGR % from 2016 to 2024 are provided for all the regions and nations considering 2015 as the base year.
Companies Mentioned in the Report
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. The key players operating in the global market are 3M Health Care, ZOLL Medical Corporation, C. R. Bard, Inc., Smiths Medical, Stryker Corporation, Medtronic plc, GE Healthcare, Inspiration Healthcare (INDITHERM), and Philips Healthcare among others.
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 End User
- Nursing facilities
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 (MEA)
- South Africa
- Saudi Arabia
- Rest of the MEA