The Warming Cabinet Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Warming Cabinet Global Market Report 2024, The warming cabinet market size is expected to see steady growth in the next few years. It will grow to $1.99 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to maintaining temperature-sensitive pharmaceuticals, increasing disposable incomes and changing consumer lifestyles, growing adoption in residential applications, rising prevalence of chronic diseases, expanding foodservice industry. Major trends in the forecast period include technological advancements, energy efficiency, hybrid heating technologies, smart technology integration, e-commerce trends.
The increasing prevalence of chronic diseases is expected to propel the growth of the warming cabinet market going forward. Chronic diseases refer to health conditions that persist over an extended period and often require ongoing medical attention, management, and care. Warming cabinets are used in chronic disease management by ensuring the optimal temperature of medical supplies and treatments, contributing to patient comfort and effective therapeutic outcomes. For instance, in January 2023, according to the National Library of Medicine, a US-based medical library, the number of individuals aged 50 and older with at least one chronic illness is projected to increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Furthermore, in September 2022, according to the World Health Organization (WHO) 2022 Highlights, a Switzerland-based intergovernmental health organization, chronic diseases accounted for 74% of all deaths globally, with 41 million deaths annually. Additionally, Cardiovascular diseases cause 17.9 million deaths, cancer causes 9.3 million, chronic respiratory diseases cause 4.1 million, and diabetes causes 2.0 million deaths. Therefore, the increasing prevalence of chronic diseases is driving the growth of the warming cabinet market.
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The warming cabinet market covered in this report is segmented –
1) By Type: Single Cavity, Multiple Cavity
2) By Product Type: Built-In, Countertop, Floor-standing, Other Product Types
3) By End-Use: Hospital, Clinic, Other End-Uses
Major companies operating in the warming cabinet market are increasing their focus on developing advanced technological products, such as self-serve display food warmers, to gain a competitive edge in the market. Self-serve display food warmers are commercial food service equipment designed to keep prepared food items at a desired temperature while allowing customers to serve themselves. For instance, in December 2021, Fri-Jado, a Netherlands-based food equipment company, launched the MDD Hot, a self-serve heated merchandiser for packaged hot food-to-go. The MDD Hot is designed to provide maximum transparency and a superior hot holding technology for packaged grab-and-go food, with a focus on food visibility and energy efficiency. The unique design allows for rear loading by the operator and front self-service by customers. The MDD Hot uses patented Hot Blanket technology to keep food safe and delicious, and it has a multi-temp function that allows for easy temperature control per shelf.
The warming cabinet market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- Thermo Fisher Scientific
- 3M Company
- Becton Dickinson and Company
- Stryker Corporation
- Medline Industries Inc.
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