North America patient temperature management systems market holds dominant position amongst regional segment owing to high prevalence of cardiac disorders due to increasing sedentary life style, suggesting large pool of population subjected to surgery. For instance, according to Center for Disease Control and Prevention’s (CDC), Heart Disease and Stroke Statistic 2017, around 92.1 million adults were suffering from one or the other form of cardiovascular disease or suffered from stroke in the past, in the U.S. Such high patient population subjected to cardiac surgery coupled with high adoption of advanced products in the region is expected to boost growth of the market in the region over the forecast period.
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Additionally, according to 3M Corporation over 80% of the U.S. hospitals used Bair Hugger, a patient temperature management system, to maintain the body temperature of patients in normal range before, during, and after a surgery. However, Asia Pacific patient temperature management system market is expected to demonstrate rapid growth, owing to increasing market penetration in emerging economies such as India and China. For instance, in 2013, BSD Medical Corporation’s Chinese distributor, Dalian Orientech Co. Ltd., received China’s FDA approval for the BSD-2000, patient warming system.
Strategic agreement, mergers, and collaborations by market players to expand their geographic reach, is in turn, fueling patient temperature management systems market growth. For instance, in 2016, VitaHEAT Medical LLC, privately held medical company, and 3M Company signed an agreement under which 3M received exclusive rights for the distribution of VitaHEAT UB3 patient warming systems in the U.S. Furthermore, in 2017, VitaHEAT Medical and 3M Company expanded their partnership, which included both equity investment and an exclusive U.S. distribution agreement, aiming to achieve scaling and development of its next generation patient warming technologies. Such strategies are expected to increase company’s market share in the global patient temperature management systems market. Furthermore, in same year, company expanded sales distribution with Medline Industries, Inc., for providing full access to clinicians across the country.
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