The Business Research Company’s latest report Temperature Management Global Market Report 2020 covers Temperature Management market drivers, Temperature Management market trends, Temperature Management market segments, Temperature Management market growth rate, Temperature Management market major players, and Temperature Management market size. The report provides in-depth analysis of the impact of COVID-19 on the Temperature Management industry, along with revised market numbers due to the effects of the coronavirus.
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Temperature Management Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global temperature management market is expected to decline from $2.19 billion in 2019 to $2.08 billion in 2020 at a compound annual growth rate (CAGR) of -5.2%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. Currently, many elective procedures, surgeries, and non-urgent visits have been postponed to prioritize urgent and emergency visits and procedures. This has decreased the demand for patient temperature management systems. Also, due to the extended lockdown and closure of factories that manufacture the equipment, the production slowed down, thereby having a shortage in supply. The transportation restrictions and stringent government policies are further causing a downturn in the growth scale. The market is then expected to recover and reach $2.47 billion in 2023 at a CAGR of 5.9%.
The report covers the temperature management market’s segments-
1) By Product: Patient Warming Devices, Patient Cooling Devices.
2) By Application: Surgery, Cardiology, Pediatrics, Neurology, Orthopedic Surgery, Others.
3) By End-use: Operating Room, Neonatal ICU, Emergency Room, ICUs, Others.
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