Key Trends and Insights into the Temperature Management Market: Growth Rate and Opportunities to 2034
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What Future CAGR is Anticipated for the Temperature Management Market Over the 2025–2034 Period?
In recent times, the size of the temperature management market has seen a consistent increase. The projected growth is from $2.93 billion in 2024 to $3.02 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 3.1%. The historical growth can be linked to the surge in demand for temperature-sensitive products, escalated global trade, the increasing recognition of temperature management’s importance, the escalating demand for cold chain solutions, growth in the pharmaceutical and electronics industries, an aging population, and an increase in chronic diseases.
In the coming years, the temperature management market is predicted to experience consistent growth. The market size is forecasted to reach $3.52 billion by 2029, with a compound annual growth rate of 3.9%. This predicted growth is tied to factors such as healthcare development, changing climates and severe weather, the expansion of e-commerce, the transition to green energy, the evolution of IoT and automation, improved healthcare infrastructure, and increased general awareness. Forecasted trends for the period include miniaturization and portability, smart and interconnected systems, personalized healthcare, sustainability and environmentally-friendly practices, cross-industry collaboration, and the incorporation of IoT and AI.
What Are the Primary Drivers Supporting the Growth of the Temperature Management Market?
The escalating prevalence of chronic ailments is anticipated to fuel the expansion of the temperature management market. Chronic diseases are conditions that endure for over a year, obstruct daily tasks, necessitate ongoing healthcare, or a combination of these. Temperature management can be beneficial in treating chronic diseases, particularly neurological conditions resulting from cardiac arrest. It is a medical strategy aimed at reducing death rates and enhancing neurological outcomes in unresponsive patients who attain Return of Spontaneous Circulation (ROSC) after a cardiac arrest. For instance, in September 2022, the World Health Organization, a specialized agency of the United Nations based in Switzerland, reported 41 million deaths, accounting for 74% of the global annual deaths from non-communicable diseases (NCDs) or chronic diseases. These included 17.9 million deaths due to cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases and 2.0 million from diabetes. Therefore, the rising incidence of chronic diseases is a key factor propelling the growth of the temperature management market.
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Who Are the Influential Players Fueling Innovation and Growth in the Temperature Management Market?
Major companies operating in the temperature management market include 3M Company, Becton Dickinson and Company, Draegerwerk AG & Co. KGaA, Smiths Medical, Stryker Corporation, The 37company (The Surgical Company), Zoll Medical Corporation (A Subsidiary of Asahi Kasei Corporation), C. R. Bard, Mennen Medical, Medtronic plc,, Belmont Instruments, EMBRlabs, Enthermics Medical Systems, Fisher & Paykel Healthcare Limited, Gaymar Industries Inc., Getinge AB, Halyard Health Inc., Inditherm Medical, KARL STORZ SE & Co. KG, Masimo Corporation, Mennen Medical Ltd., Merit Medical Systems Inc., MicroTherapeutics Inc., Philips Healthcare, Smith & Nephew plc, Teleflex Incorporated, Terumo Corporation,
What Are the Most Influential Trends Currently Shaping the Temperature Management Market?
Potential hazards related to the use of invasive temperature control tools are expected to pose challenges to the advancement of temperature control devices. For example, there are certain risks, including placement site injury, infection, and venous thrombosis, tied to the application of invasive temperature control devices during targeted post-cardiac arrest temperature management. Additionally, surface cooling systems that utilize circulating cold air or fluid-infused blankets or pads can very rarely cause skin irritation and burns, as well as accidentally surpass the desired temperature during the induction phase. Such risk factors are expected to influence the growth trajectory of the temperature management market.
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Which Growth-Oriented Segments of the Temperature Management Market Are Leading the Industry’s Development?
The temperature management market covered in this report is segmented –
1) By Product: Patient Warming Devices, Patient Cooling Devices
2) By Application: Surgery, Cardiology, Pediatrics, Neurology, Orthopedic Surgery, Other Applications
3) By End-Use: Operating Room, Neonatal ICU, Emergency Room, ICUs, Other End-Uses
Subsegments:
1) By Patient Warming Devices: Warm Air Blankets, Heating Pads, Warming Cabinets, Intravenous Fluid Warmers, Forced-Air Warming Systems
2) By Patient Cooling Devices: Cooling Blankets, Cold Packs, Intravenous Fluid Coolers, Surface Cooling Devices, Endovascular Cooling Systems
What Regions Are Leading the Growth Trajectory of the Temperature Management Market?
The countries covered in the temperature management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
How Do Experts Define the Scope of the Temperature Management Market?
The temperature management controls and maintain specific body temperature through external warming or cooling for a specific duration. Temperature management devices are used in operation theatres during surgeries, ICU, blood warming, and in other chronic conditions such as cardiac ailments, neurological disorders, and cancer.
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