The global blood fluid warming system market demand is poised for significant growth, with projected demand reaching a value of US$ 1,083.8 million in 2023, and expected to soar to US$ 2,264.6 million by 2033. This surge is attributed to the increasing demand for blood fluid warming systems driven by the rising number of trauma cases, surgeries, and the urgent need to address hypothermic deaths.
In the past ten years alone, over 1,300 hypothermic deaths have been reported, underscoring the critical importance of efficient blood fluid warming systems. The toll from accidents, mishaps, gunshot wounds, an aging population, and childbirth has further fueled the demand for advanced solutions in the healthcare sector.
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The industry is anticipated to experience a robust Compound Annual Growth Rate (CAGR) of 7.6% between 2023 and 2033, reflecting the growing reliance on blood fluid warming systems to enhance patient outcomes and reduce the risk of complications associated with hypothermia.
According to updated 2022 statistics issued under American Kidney Fund, nearly 37 million Americans have kidney problems in the United States. About 8,10,000 Americans were assessed to suffer from kidney failure in 2021. This is fueling investment in dialysis machines, which, in turn, is driving demand for blood-warmer devices.
Factors like the increasing birth rate and rising geriatric population propel the market development.
The growing importance of maintaining the proper temperature for faster healing post-surgery is pushing the adoption of blood fluid warming systems. In the same vein, increasing emphasis on providing improved treatment options and surging cases of hypothermia are catalyzing market growth.
Unfortunately, manufacturers are challenged by strict regulatory frameworks and the presence of alternative methods. Higher expense over the development of these systems is also projected to restrict market growth.
Top Highlights from the FMI’s Analysis of the Blood Fluid Warming System Market:
- North America’s market held a remarkable market share of 36.7% in 2022, demonstrating positive growth prospects for manufacturers.
- In North America, the United States share accounted for 34.3%. Infrastructure for product advancement and the surging rate of accidents in the country offer favorable market conditions for enterprises.
- Europe gathered a value share of 31.2% in the historical period. Going forward, Europe offers lucrative market opportunities for businesses.
- With a value share of 7.6%, Germany is at the forefront of Europe’s blood fluid warming system industry. Key participants in the market have Germany at the top of their heads when they consider expanding their business footprint.
- Japan currently has a relatively smaller market share of 3.1%, yet the country’s growing pool of geriatric patients is expected to attract more suppliers.
- Australia is expected to expand at a prominent CAGR of 8.1% over the forecast period, demonstrating key participants’ desire to delve more into business opportunities in the country.
- China and India are expected to register CAGRs of 8% and 7.8%, respectively, in the next ten years. These countries are expected to witness the incoming market players in large numbers.
- Intravenous warming system is emerging as a dominant segment, with a market share of 47.1%.
- The preoperative care segment of the distribution channel is estimated to account for more than 36.5% market share in 2023.
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New Developments by Key Players:
- LifeWarmer introduced Quantum Blood and Fluid Warming System in May 2022. The device is a breakthrough innovation that has successfully driven effective patient outcomes. The device has prospered in closing the gap left bare by other commercial-off-the-shelf fluid warmers.
- In April 2021, MEQU, a Danish MedTech company, introduced M Station, an in-hospital solution, for its M Warmer System, an IV fluid and blood-warming device.
- 3M Healthcare
- Becton, Dickinson, and Company
- Boston Scientific Corporation
- Barkey GmbH & Co. KG
- Smith & Nephew Group plc.
- General Electric Company
- Cincinnati Sub-Zero Products LLC
- Sino Medical-Device Technology Co., Ltd.
- Meridian Medical Systems LLC
- Estill Medical Technologies, Inc.
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Key Segments Covered in the Blood Fluid Warming System Industry Report:
By Product:
- Surface Blood Fluid Warming System
- Intravenous Blood Fluid Warming System
- Patient Blood Fluid Warming Accessories
By Distribution Channel:
- Hospitals
- Clinics
- E-Commerce
By Application:
- Acute Care
- Preoperative Care
- New Born Care
- Homecare
- Other Applications
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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