South America Temperature Management Systems Market
South America region consists of Brazil and Rest of SAM. Brazil is expected to have the major market share in this region. Also, it is projected to grow with highest growth rate. Brazil is the fifth largest country in the world both by area and by population and experiencing the fastest demographic aging worldwide. In Brazil, the aging population is at a rapid pace and in a context of regional and historical socioeconomic inequalities. According to the study conducted in Brazil, the community of women estimated at the vast majority with 16.9 million (56%) of elderly persons, whereas older adults estimated approx. 13.3 million (44%). The growing aging population leads to several chronic conditions such as cardiovascular diseases, orthopedic conditions, neurodegenerative disorders, and diabetes amongst others. Rising prevalence of chronic disease and cardiovascular diseases is the major factor driving the growth of the SAM temperature management systems market.
SAM countries like Brazil have registered many positive coronavirus infection cases. This region is developing in terms of the healthcare and medical service industry. The countries in this region are highly dependent on medical devices imported from developed countries. Therefore, countries have faced several challenges with their requirements for temperature management systems due to severe disruption in supply chains. Health authorities are worrying that attempting to fight the coronavirus will indirectly contribute to an increase in deaths of ill patients, including heart patients, gynecology patients, and other causes. Countries such as Brazil, Argentina, Colombia and others were severely hit by the pandemic. Although, the supply chains were revived by the end of 2020 once the COVID cases reduced in various parts of the region. These factors thus encouraged the growth of the temperature management systems market in SAM. 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 South America 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$ 91.68 Million |
| Market Size by 2028 | US$ 120.70 Million |
| Global CAGR (2021 - 2028) | 4.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America 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 SAM is expected to grow from US$ 91.68 million in 2021 to US$ 120.70 million by 2028; it is estimated to grow at a CAGR of 4.0% from 2021 to 2028. Industry players are conducting a vast number of research & development activities to develop advanced temperature monitoring systems. These technology partnerships are likely to offer significant opportunities for the new product launches and introduction of a wide variety of products during the forecast period. For instance, in June 2021, ZOLL and Global Healthcare SG signed an exclusive agreement to distribute a portable targeted temperature management system. Further, in 2017, Stryker announced the launch of Altrix, a next-generation precision temperature management system used in all clinical settings. In addition, Smiths Medical, a leading global medical device manufacturer, launched the Level 1 convective warmer. This next-generation high-flow convective warmer gives health care providers a peaceful, simple, and safe thermal care solution to help patients maintain average body temperature through every stage of surgery. Further, consolidation of research and development activities leads to product innovations that are likely to offer significant opportunities for product adoption. Likewise, a robust focus on research activities can offer expanded growth opportunity for the temperature management systems market during the forecast period.
The market for SAM 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 SAM 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, Inspiration Healthcare Group plc, Smiths Medical, Stryker Corporation, and ZOLL MEDICAL CORPORATION among others.
The South America Temperature Management Systems Market is valued at US$ 91.68 Million in 2021, it is projected to reach US$ 120.70 Million by 2028.
As per our report South America Temperature Management Systems Market, the market size is valued at US$ 91.68 Million in 2021, projecting it to reach US$ 120.70 Million by 2028. This translates to a CAGR of approximately 4.0% during the forecast period.
The South America 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 South America Temperature Management Systems Market report:
The South America Temperature Management Systems Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Temperature Management Systems Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Temperature Management Systems Market value chain can benefit from the information contained in a comprehensive market report.
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