Blood Warmers Industry Overview
The global blood warmers market size was valued at USD 978.7 million in 2021 and is projected to witness a compound annual growth rate (CAGR) of 8.4% from 2022 to 2030. Increasing number of surgeries and trauma cases, rising cases of hypothermia as well as increasing geriatric and infant population are the major factors driving the growth of the market. Moreover, the outbreak of COVID-19 has significantly increased the hospital admission rate globally. High fever is one of the basic symptoms of patients who may be suffering from COVID-19. As a result, use of warm blankets and sterile fluids has increased due to the increasing number of patients in hospitals and clinics, this is in turn expected to propel industry growth.
The COVID-19 pandemic is expected to have a positive impact on the IV warmers market. The demand for infusion therapy is growing as the number of patients of coronavirus illness (COVID-19) rises. This is one of the key factors driving up demand for blood/ IV warmer devices, which are used to raise fluids to body temperature, speed up patient recovery, and reduce the danger of transfusion shock. Moreover, the introduction of next-generation blood warmer products to support various therapies, such as continuous renal replacement and organ support therapies, is one of the major factors fueling industry growth. Various factors such as increasing demand for early treatment of hypothermia and growing armed forces personnel worldwide are likely to boost the need for blood warmers in the global healthcare industry. As a result of these reasons, the market is likely to expand in the approaching years.
Gather more insights about the market drivers, restraints, and growth of the Global Blood Warmers Market
The market is predicted to grow over the forecast period due to an increase in number of surgeries and trauma cases around the world. Trauma is a major cause of death worldwide, with around 5 million people dying every year as a result of traumatic injury. According to the Association for Safe International Road Travel (ASIRT) 2018, every year, between 20 million and 50 million individuals are injured or disabled in traffic accidents, with 1.35 million related deaths. According to WHO, road traffic injuries are estimated to be the ninth leading cause of mortality globally. In addition, hypothermia is one of the leading causes of death in patients who have suffered physical trauma. For instance, out of the few million occurrences of IV-induced hypothermia reported in the U.S., 75.0% occur in ambulatory settings. Portable blood/IV warmers have been in high demand in the U.S. and EU since 2010, owing to the risk of cold-stored blood/IV-induced hypothermia, which is expected to drive the industry throughout the forecast period.
The U.S. dominated the overall market with the highest shares of 89.14% in 2021. The increasing number of hypothermia-related cases, along with growing prevalence of chronic conditions such as thyroid and diabetes, is a key factor leading to increased demand for blood warmers. For instance, according to CDC’s National Diabetes Statistics Report for 2020, in 2018, about 34.2 million people in the U.S. had diabetes. In addition, rising number of surgeries is expected to boost the market, as blood warmers play an important role in surgical units. For instance, as per American Society for Aesthetic Plastic Surgery, surgical procedures accounted for 77% of the total expenditure in 2017 in the U.S. Thus, these factors are expected to positively impact the market during the forecast period. Moreover, favorable reimbursement structure is another major factor contributing to growth of the industry in the U.S.
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Blood Warmers Industry Segmentation
Grand View Research has segmented the blood warmers market on the basis of product, end-use, and region:
Blood Warmers Product Outlook (Revenue, USD Million, 2018 - 2030)
- Portable Blood/IV Warmers
- Non-portable Blood/IV Warmers
Blood Warmers End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals/Clinic
- Ambulatory Services
- Defense Forces
- Rescue Forces
Blood Warmers Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Market Share Insights:
January 2022: QinFlow Inc. received a group buy agreement from Premier, Inc. for blood and fluid warming products. This arrangement will give healthcare organizations access to their next-generation blood warming technology, which has been fine-tuned to suit the stringent requirements of emergency departments, intensive care units, operating rooms, and trauma bays.
July 2021: MEQU received a public tender to supply portable blood and IV fluid warming devices (M Warmer System) to the Ministry of Defense, in collaboration with the U.K. partner Fenton Pharmaceuticals (MOD).
Key Companies profiled:
Some prominent players in the global Blood Warmers Industry include
- Stryker Corporation
- Gentherm Medical
- Belmont Medical
- 3M
- ICU Medical
- Vyaire Medical, Inc.,
- The Surgical Company PTM
- Life Warmer
- MEQU
- Estill Medical Technologies, Inc.
- Smisson-Cartledge Biomedical
Order a free sample PDF of the Blood Warmers Market Intelligence Study, published by Grand View Research.
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