Patient Warming Devices Market is Expected to Reach US$2.78 Billion by 2024

Thursday, April 13, 2017 Medical Gadgets
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ALBANY, New York, April 13, 2017 /PRNewswire/ --

The global Patient Warming Devices Market will continue witnessing

high competitive rivalry between the leading companies, says Transparency Market Research (TMR) in a new study. Despite its consolidated vendor landscape, the leading market players are looking to consolidate their share via mergers and acquisitions.
Acquiring smaller yet established companies will not only help companies expand their regional footprint, it will also add to their existing product portfolio. Also the companies attach much importance to product differentiation, which fosters high marketability to their product. Given the scenario, it is unlikely for the players to expect dwindling competitive forces in the near future.  

The top four companies, comprising 3M Company, ZOLL Medical Corporation, C.R. Bard, Inc., and Smith & Nephew plc, held over 54% of the global patient warming devices market in 2015. 3M being the dominant company, boasts a diverse product portfolio and extensive geographic presence. Strategies adopted by the leading market have considerable influence on the demand and supply forces in the market.

As per TMR, the global Patient Warming Devices Market will exhibit a CAGR of 5.3% between 2016 and 2024. At this pace, the market's valuation of US$1.73 bn in 2015, will reach US$2.78 bn by the end of 2024.

North America and Europe to Showcase Most Lucrative Opportunities  

According to the report, the demand for patient warming devices is highest in perioperative care. Given the rising surgeries conducted worldwide for treating various chronic ailments, the demand for patient warming devices during perioperative care will continue increasing through the forecast period.

Regionally, North America and Europe emerged as the leading markets for patient warming devices around the world. North America emerged dominant in 2015 with a share of 45.7% based on value, trailed by Europe closely. While there won't be a drastic change in the standing of these regional markets, Asia Pacific will emerge as an important pocket, exhibiting highly lucrative opportunities in the coming years.

Rising Number of Surgeries to Fuel Demand for Patient Warming Devices  

Surgical processes involve the use of anesthesia, which causes a drastic drop in body temperature of patients, requiring urgent temperature management. The demand for patient warming devices will thus continue remaining high especially in perioperative care. Considering this, the rise in chronic ailments will act in favor of the global patient warming devices market. "The rising incidence of cardiovascular and oncological conditions have led to increasing need of surgical interventions worldwide. This will in turn boost the uptake of various patient warming devices in the coming years," said a lead TMR analyst.

Besides chronic ailments requiring surgeries, neonates and the rising rate of premature babies will continue keeping the demand for advanced patient warming devices high. Besides this, aging is potentially a leading factor associated with chronic ailments and disorders. Effect of diseases become worse with age hence an individual may take more time to recover. Patient warming devices become highly necessary to such patient. In addition, factors such as the growing adoption of sedentary lifestyle and the increasing incidence of work-related musculoskeletal disorders will have a positive impact on the overall market..

Inquire for an exclusive sample of this report @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=7877

Side Effects Associated with Using Patient Warming Devices to Negatively Impact Market  

On the downside, being invasive in nature, the risk of severe side-effects due to the use of patient warming devices cannot be eliminated. Also high excise duties imposed on medical device manufacturers may act as a major restraint. Nevertheless, with the advent of technological advanced products such as targeted temperature management devices, the market is expected to witness a spike in demand in the coming years. In addition, economic development and improving healthcare infrastructure especially in emerging nations are expected to enable growth of the global patient warming devices market in the near future. 

Information included in the report is based on a TMR report, titled "Patient Warming Devices Market (Products - Surface Warming Systems, Intravascular Warming Systems, and Patient Warming Accessories; Applications - Acute Care, Perioperative Care, and New Born Care; End User - Hospitals, Clinics, and Nursing Facilities) - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast, 2016 - 2024." 

The report segments the global patient warming devices market as: 

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
  • Others

Global Patient Warming Devices Market, by End User 

  • Hospitals
  • Clinics
  • Nursing facilities
  • Others

Global Patient Warming Devices Market, by Geography 

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Rest of the Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of the APAC
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • Rest of the LATAM
  • Middle East and Africa (MEA) 
    • South Africa
    • Saudi Arabia
    • Rest of the MEA

Browse Related Research Report: 

Remote Patient Monitoring Devices Market (By Types: Heart Monitors, Breath Monitors, Physical Activity Monitors, Hematology Monitors, Body Temperature Monitors, Multi-sign Monitors and Others & By End Users: Home Healthcare and Ambulatory Care Centers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 http://www.transparencymarketresearch.com/remote-patient-monitoring-devices-market.html

Wearable Medical Devices Market (Diagnostic Device - Vital Sign Monitors (Heart Rate Monitor, Activity Monitor, Sleep Monitor, and Electrocardiographs), Fetal Monitors and Obstetric Devices, and Neuromonitoring Devices (Electroencephalograph and Electromyograph); Therapeutic Device (Pain Management, Glucose or Insulin Monitoring, and Respiratory Therapy); Application (Sports and Fitness, Remote Patient Monitoring, and Home Healthcare)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023 http://www.transparencymarketresearch.com/wearable-medical-devices.html

About Us: 

Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact Us: Transparency Market Research 90 State Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com

Blog: http://www.tmrblog.com/

SOURCE Transparency Market Research



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