How Has the Temperature Modulation Devices Market Evolved Historically and What is its Current Size?
The temperature modulation devices market has seen considerable growth due to a variety of factors.
• The temperature modulation devices market has shown strong growth in recent years. It will increase from $3.19 billion in 2024 to $3.51 billion in 2025, at a CAGR of 9.9%.
Key factors driving growth include industrialization, growing healthcare demands, expanding agricultural needs, increasing scientific research, and advancing environmental concerns.
What is the Forecasted Market Size and CAGR for the Temperature Modulation Devices Market?
The temperature modulation devices market is expected to maintain its strong growth trajectory in upcoming years.
• The temperature modulation devices market is projected to grow strongly, reaching $5.04 billion by 2029 at a CAGR of 9.5%.
Growth is driven by urbanization, climate change impacts, the demand for energy efficiency, and advancements in digitalization and IoT. Major trends include smart, connected systems, renewable energy integration, precision temperature control, modular designs, and predictive maintenance solutions.
What Key Factors and Trends Are Driving The Growth Temperature Modulation Devices Market?
The escalating count of surgical interventions is anticipated to drive the growth of the temperature modulation devices market in the future. Surgical interventions are medical procedures that necessitate incisions or bodily tissue alterations to diagnose, cure, or manage health issues. Better access to healthcare facilities has led to a surge in surgical procedures, thanks to improvements in healthcare infrastructures, increased healthcare financing, and the establishment of new healthcare establishments. This provides more patients the necessary surgical care. Temperature modulation devices are used in these procedures to keep body temperature at an optimal level, averting hypothermia or hyperthermia and ensuring patient safety and comfort. For example, as per the data from British Association of Aesthetic Plastic Surgeons, a non-governmental organization based in the UK, in March 2023 there was a marked swell in the count of cosmetic surgeries performed. The total reached 31,057 in 2022, signifying a significant 102% surge compared to 2021. Therefore, the escalating number of surgical interventions plays a key role in propelling the temperature modulation devices market's growth.
What Are The Market Segments In The Temperature Modulation Devices Market?
The temperature modulation devices market covered in this report is segmented –
1) By Product: Portable Blood Or IV Fluid Warmers, Conductive Patient Warming Systems, Convective Patient Warming Systems, Conductive Patient Cooling Systems, Other Products
2) By Application: Perioperative Care, Acute Care, Coronary Care, Newborn Care, Other Applications
3) By End Use: Hospitals, Diagnostic Laboratories, Ambulatory Surgical Centers, Other End User
Subsegments:
1) By Portable Blood Or Iv Fluid Warmers: Battery-Powered Warmers, Rechargeable Warmers
2) By Conductive Patient Warming Systems: Warming Blankets, Warming Pads
3) By Convective Patient Warming Systems: Forced Air Warming Systems, Convection Warming Blankets
4) By Conductive Patient Cooling Systems: Cooling Pads, Cooling Blankets
5) By Other Products: Temperature Monitoring Devices, Intravenous (Iv) Fluid Cooling Systems
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What Emerging Trends Are Influencing The Growth Of The Temperature Modulation Devices Market?
Key players in the temperature modulation devices market are concentrating efforts on advancing technology that offer distinct features such as waveform digitization functions, improving accuracy and effectiveness of temperature regulation in medical environments, and hence enhancing patient outcomes and operational productivity. In essence, a waveform digitization function transforms analog signals that are continuous into digital signals, which are discrete, to allow for accurate monitoring and control of temperature modulation across industries. In an instance from March 2024, Omron Corporation, a Japan-based company that manufactures electrical equipment, introduced the OMRON NX-HTC, a temperature controller. The NX-HTC enhances machine status analysis capabilities through improved monitoring and regulation. A unique waveform digitization function is employed by the NX-HTC to give users the ability to capture and examine temperature patterns with precision. Moreover, the device is fitted with advanced analytics capabilities, promoting real-time analysis and regulation of machine status and encouraging proactive maintenance, operational efficiency enhancement, and downtime reduction. With the NX-HTC's reliable automatic control, foreseeable temperature fluctuations, like those that occur due to air infiltration when doors are opened or closed, are effectively managed. The device assists in quality improvement and facilitates increased production capacity by reducing the waiting time needed for temperature stabilization. It can measure temperatures ranging from -50 to 500°C, and -50 to 1,000°C.
Who Are the Key Players In The Temperature Modulation Devices Market?
Major companies operating in the temperature modulation devices market are:
• Thermo Fisher Scientific Inc.
• Medtronic plc
• ABB Group
• FUJIFILM Holdings Corporation
• Kimberly-Clark Corporation
• Becton Dickinson and Company
• Stryker Corporation
• Baxter Laboratories Inc.
• Analog Devices Inc.
• Shimadzu Corporation
• Smiths Group
• Drägerwerk AG & Co KGaA
• ICU Medical Inc.
• Masimo Corporation
• ZOLL Medical Corporation
• Gentherm Medical LLC
• Cincinnati Sub-Zero (CSZ) Products LLC
• Soma Technology Inc.
• Belmont Medical Technologies
• The Surgical Company
• BrainCool AB
• Minnesota Mining and Manufacturing Company
• Hirtz & Co. KG
• EMIT Corporation
• Keewell Medical Technology Co Ltd
What Are The Regional Insights Into The Temperature Modulation Devices Market?
North America was the largest region in the temperature modulation devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the temperature modulation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
