Healthcare and Medical

Temperature Management Market 2024 - Industry Growth, Key Players, Market Share, Size, Industry Demand

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Temperature Management Market 2024 - Industry Growth, Key Players, Market Share, Size, Industry Demand

The Temperature Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Temperature Management Global Market Report 2024, The temperature management market size has grown steadily in recent years. It will grow from $2.84 billion in 2023 to $2.93 billion in 2024 at a compound annual growth rate (CAGR) of 3.2%. The growth in the historic period can be attributed to rising demand for temperature-sensitive products, increasing globalization of trade, growing awareness of the importance of temperature management, growing demand for cold chain solutions, pharmaceutical growth, electronics industry's growth, aging population, rise in chronic diseases.

The temperature management market size is expected to see steadily grown in the next few years. It will grow to $3.34 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to healthcare expansion, climate change and extreme weather, e-commerce growth, green energy transition, iot and automation, growing healthcare infrastructure, increased awareness. Major trends in the forecast period include miniaturization and portability, smart and connected systems, personalized healthcare, sustainability and green practices, cross-industry collaboration, integration of iot and ai.

Rise in the prevalence of chronic diseases is expected to propel the growth of the temperature management market going forward. Chronic diseases refer to ailments that last for a year or longer, impede everyday activities, require continuing medical care, or both. Temperature management can help in chronic diseases, including neurological conditions that result from cardiac arrest. It is a medical intervention that aims to reduce mortality and improve neurological outcomes in unresponsive patients who achieve Return of Spontaneous Circulation (ROSC) after cardiac arrest. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the increasing incidence of chronic diseases is driving the growth of the temperature management market.

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The temperature management market covered in this report is segmented –

1) Temperature Management Market By Product: Patient Warming Devices, Patient Cooling Devices

2) Temperature Management Market By Application: Surgery, Cardiology, Pediatrics, Neurology, Orthopedic Surgery, Other Applications

3) Temperature Management Market By End-Use: Operating Room, Neonatal ICU, Emergency Room, ICUs, Other End-Uses

Product innovations are a key trend gaining popularity in the veterinary oncology market. Major companies operating in the veterinary oncology market are focused on developing new solutions to strengthen their position. For instance, in June 2021, PetDx, a US-based molecular diagnostics company dedicated to unleashing the power of genomics, launched “OncoK9,"" a novel multi-cancer early detection test. It is uniquely designed with the power of genomics to help veterinarians detect cancer in dogs earlier by using routine blood drawing without the need for prior fasting or sample processing. It processes the sample using proprietary methods optimized for canine cell-free DNA analysis and issues a digital report indicating if there is a cancer signal. It has strong clinical performance with minimal false-positive rates and high cancer diagnosis rates.

The temperature management market report table of contents includes:

1. Executive Summary

2. Temperature Management Market Characteristics

3. Temperature Management Market Trends And Strategies

4. Temperature Management Market - Macro Economic Scenario

5. Global Temperature Management Market Size and Growth

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31. Global Temperature Management Market Competitive Benchmarking

32. Global Temperature Management Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Temperature Management Market

34. Temperature Management Market Future Outlook and Potential Analysis

35. Appendix