TEMPERATURE MANAGEMENT MARKET ANALYSIS

Temperature Management MarketSize and Trends

Market Statistics:

The global Temperature Management Market was valued at US$ 2,856.6 Mn in 2021 and is forecast to reach a value of US$ 3,814.3 Mn by 2028 at a CAGR of 4.2% between 2022 and 2028.

North America held dominant position in the Global Temperature Management Market in 2020, accounting for 38.5% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Temperature Management Market Share (%), by Region, 2021

Market Trends/Key Takeaways:

1. Increasing demand for temperature management systems/devices worldwide is expected to boost the growth of the global Temperature Management Market. For instance, in March 2019, Smiths Medical launched Level 1 convective warmer, a next-generation high-flow convective warmer that gives health care providers a quiet, simple, and safe thermal care solution to help patients maintain normal body temperature through every stage of surgery.
2. Growing number of contracts and agreements between market players is expected to propel the growth of the global Temperature Management Market. For instance, in May 2021, ZOLL Medical Corporation and Global Healthcare SG signed exclusive agreement for distribution of portable targeted temperature management system in Asia Pacific.