MARKET OUTLOOK
Latin America’s intravascular temperature management system market has been projected to grow in terms of revenue while expanding with a CAGR of 3.53% throughout the forecast years 2019-2027, according to Triton Market Research.
Mexico, Brazil and rest of Latin American countries together form the market for intravascular temperature management systems in Latin America.
A vast number of surgeries are performed all over the world. Statistics from the OMICS International Conference state that approximately 234 million surgical procedures are performed every year worldwide, and are likely to comprehend. This overall increase in a number of different surgical procedures is a factor that contributes toward the growth of the intravascular temperature management system market. Procedures like cardiac surgery require the constant maintenance of the normal body temperature of a patient. Hence, there is a need for temperature management devices. Moreover, administering general anesthesia before performing a surgery also disturbs a patient’s body temperature, thereby leading to complications during the surgery. As a result of this, blood and fluid warmers are in high demand by healthcare professionals. Thus, the surge in the number of surgical procedures drives the growth of the market.
COMPETITIVE OUTLOOK
The important players in the intravascular temperature management system market are Asahi Kasei Corp., Inditherm Plc (acquired by Inspiration Healthcare), Biegler GmbH, Estill Medical Technologies, Inc., Medtronic Plc, Smiths Group Plc, Belmont Instrument Corporation and 3M Company.