Asia-Pacific Temperature Management Systems Market
Asia Pacific temperature management systems market is analyzed based on the five major countries such as China, Japan, India, Australia, South Korea, and the rest of Asia Pacific. The Asia Pacific region is expected to be the fastest-growing region among all other regions. The growth of the market is expected to be fastest in countries such as China, India, and Australia. China holds considerable share in the global temperature management systems market. The growth of market in the country is attributed to the higher prevalence of orthopedic and heart diseases seeking inpatient care and growing research activities. China is among the most populated countries in the world, and it is a country that has a maximum number of patients living with chronic disorders. The country also has experienced a significant rise in the elderly population; therefore, the lung and heart associated diseases are the leading causes of death among older people across the country. According to the World Heart Federation (WHF), approximately 45% deaths occurring due to non-communicable diseases in the country are due to cardiovascular diseases. The data also estimated that one is five people in China suffers from cardiovascular disease. Expansion in research & development activities and product launches is the major factor driving the growth of the APAC temperature management systems market.
Countries in the Asia Pacific are facing increasing incidences of COVID-19. The 2019 novel coronavirus (2019-nCoV), officially named COVID-19 by the WHO, has spread to more than 170 countries, including China prompting the WHO to declare the disease as a global pandemic. Accompanying the catastrophic loss of life that the virus has caused is the impact on the global economy, which has reeled from the effects of the pandemic. The COVID-19 pandemic has critically impacted the region, but it has also provided an opportunity for stakeholders to realign their future path based on strategic intent and focus. However, with the reduction in number of cases since October 2020, medical device companies re-initiated manufacturing of the thermal management systems as the demand for surgical procedures increased. This led to a partial recovery of losses occurred during the pandemic lockdowns. In addition, increasing government support and reimbursement policies for medical devices are expected to support the temperature management systems market. Overall, the COVID-19 pandemic slowed down the rate of growth, however did not completely have a negative impact on market growth.
Strategic insights for the Asia-Pacific Temperature Management Systems provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 549.40 Million |
| Market Size by 2028 | US$ 822.14 Million |
| Global CAGR (2021 - 2028) | 5.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia-Pacific Temperature Management Systems refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The temperature management systems market in APAC is expected to grow from US$ 549.40 million in 2021 to US$ 822.14 million by 2028; it is estimated to grow at a CAGR of 5.9% from 2021 to 2028. Healthcare system across the region is observing massive growth in the prevalence of infectious diseases. Additionally, the prevalence of chronic conditions such as cancer, diabetes, and cardiovascular disorders is witnessing a rise across the region. This increase in prevalence of infectious and chronic conditions is projected to drive the adoption of temperature management systems, which will eventually accelerate the market growth. There has been an increase in chronic conditions, such as strokes, cardiac arrests, and neurological diseases such as traumatic brain injury. Several research studies indicate that survivors of cardiac arrests can suffer from devastating neurological impairments. Temperature management devices are widely used in the prevention of neurological damage after cardiac arrests. In addition, the use of mild therapeutic hypothermia is considered to improve neurological outcomes after cardiopulmonary resuscitation. Thus, the increasing incidence of chronic diseases is expected to drive the demand for temperature management systems.
The market for APAC temperature management systems market is segmented into product, application, medical indication, and country. Based on product, the market is segmented into patient warming systems and patient cooling systems. The patient warming systems segment dominated the market in 2020 and patient cooling systems segment is expected to be the fastest growing during the forecast period. Further patient warming systems has been bifurcated into surface warming systems, intravascular warming systems, and warming accessories. Similarly patient cooling systems is bifurcated into surface cooling systems, intravascular cooling systems, and cooling accessories. Based on application the market is segmented into perioperative care, acute care, newborn care, and others. The perioperative care segment dominated the market in 2020 and acute care segment is expected to be the fastest growing during the forecast period. Based on medical indication the market is segmented into general surgery, cardiology, neurology, pediatrics, thoracic surgery, orthopedic surgery, and others. The general surgery segment dominated the market in 2020 and cardiology segment is expected to be the fastest growing during the forecast period.
A few major primary and secondary sources referred to for preparing this report on the temperature management systems market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 3M, BD, Dragerwerk AG & Co. KGaA, Ecolab, GENTHERM, Inspiration Healthcare Group plc, Smiths Medical, Stryker Corporation, and ZOLL MEDICAL CORPORATION among others.
The Asia-Pacific Temperature Management Systems Market is valued at US$ 549.40 Million in 2021, it is projected to reach US$ 822.14 Million by 2028.
As per our report Asia-Pacific Temperature Management Systems Market, the market size is valued at US$ 549.40 Million in 2021, projecting it to reach US$ 822.14 Million by 2028. This translates to a CAGR of approximately 5.9% during the forecast period.
The Asia-Pacific Temperature Management Systems Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Temperature Management Systems Market report:
The Asia-Pacific Temperature Management Systems Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Temperature Management Systems Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Temperature Management Systems Market value chain can benefit from the information contained in a comprehensive market report.
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