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 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.
Overview of the Temperature Management Systems Market
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.
Companies Mentioned in the Report
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.