Temperature Management Market Size (2024 - 2029)

Temperature Management Market Analysis

The Temperature Management Market size is estimated at USD 3.21 billion in 2024, and is expected to reach USD 3.87 billion by 2029, growing at a CAGR of 3.88% during the forecast period (2024-2029).

The outbreak of the COVID-19 pandemic impacted the Temperature Management Market significantly. During the initial phase of the pandemic, many surgical procedures were canceled or postponed, which reduced the demand for Temperature Management Systems as they are essential requirements post-surgery. For instance, according to the NCBI research study published in 2021, a large number of surgical procedures were canceled or postponed during COVID-19 for an indefinite period. This scenario imposed a slight adverse impact on the Market Temperature during the pandemic's initial phase. However, many healthcare organizations across the globe published recommendations emphasizing the importance of maintaining a normothermia environment to avoid COVID-19 contamination. For instance, as per the research article published by 3M in 2021, AORN (Association of periOperative Registered Nurses) recommended using forced air warmers, a type of Surface Warming Systems, during surgical procedures in COVID-19-positive patients to decrease the risk of hypothermia. Therefore, owing to such guidelines and with the resumption of surgical procedures, the Temperature Management Market started to gain traction and is expected to continue the upward trend over the forecast period.

The increasing prevalence of cancer, infectious diseases, and cardiovascular diseases, the rising number of surgical procedures, and the development of technologically advanced intravascular systems are major drivers for the Temperature Management Market. For instance, according to the WHO 2022, the WHO GISRS laboratories tested more than 317,198 specimens from December 2021 to January 2022, with 16,862 people testing positive for influenza viruses. Similarly, according to the report published by the European CDC in March 2021, there were around 500,000 sexually transmitted infections detected annually in the European Union, EEA, and the United Kingdom. Furthermore, according to the GLOBOCAN Report 2020, globally, around 19.3 million new cancer cases were reported, and 9.96 million cancer deaths. The major affecting cancers are breast, lung, colorectal, and prostate cancers. Hyperthermia is an essential treatment for cancer and infectious diseases, which can be achieved using Medical Hyperthermia Systems, a segment of the Thermal Management Market. Therefore, increasing cases of cancer and infectious diseases across the globe are anticipated to propel the Temperature Management Market growth over the forecast period.

The increasing number of surgical procedures and product launches by key players are also surging the Temperature Management Market Size. For instance, according to the report published by the Department of Health & Family Welfare and Ministry of Health & Family Welfare in 2021-2022, till September 2021, about 8.29 lakh people visited OPDs, and around 33,830 surgeries were performed in Safdarjung Hospital, India. The same source reported that around 25,101 minor surgeries and about 9,327 major surgeries were performed in India for the year 2020-21. Maintaining normal body temperature, monitored by Temperature Monitoring Systems, provides valuable benefits to surgical patients, including risk reduction of surgical site infection, reduced mortality, fewer post-operative cardiac events, reduced blood loss, faster recovery times, and shorter hospitalizations. Temperature Management Solutions offer hospitals and clinicians a safe and effective method of keeping patients warm before, during, and after surgery. Since Temperature Management Systems are essential requirements, the increasing number of surgical procedures is expected to boost the Temperature Management Market growth.

Furthermore, the launch of new product lines by key players is anticipated to create new opportunities in the Temperature Management Market. For instance, in April 2021, Danish medtech company MEQU launched an in-hospital solution, M Station, for its blood and IV fluid warming device, M Warmer System. M Warmer System is a portable blood and IV fluid warming device, demonstrating innovation in Temperature Control Devices adopted in the pre-hospital and military sectors. Using a patented warming technology, the M Warmer is able to warm infusion fluids from cold to body temperature in under 10 seconds, showcasing advancements in the Thermal Control Devices Market. Thus, increasing product launches and a rising number of surgical procedures are anticipated to propel the Temperature Management Market growth over the forecast period.

However, the high cost of Temperature Management Systems and product recalls may restrain the Temperature Management Market growth over the forecast period.

Temperature Management Industry Segmentation

As per the scope of the report, temperature management devices are used to manage the human body temperature by providing regulations in inside recovery rooms, operations theaters, and other types of hospital rooms. With the rising number of surgeries performed in hospitals worldwide, there is a growing demand for these devices. 

The Temperature Management Market is Segmented by Product Type (Patient Warming Systems and Patient Cooling Systems), Application (Cardiology, Orthopedics, Neurology, and Others), End-User (Operating Rooms, Intensive Care Units, Emergency Rooms, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (USD million) for the above segments.