Blood Warming Devices Market Expected to Grow at 7.6% CAGR to Reach USD 937.5 Million by 2032

Blood Warming Devices Market

Blood Warming Devices Market Is Experiencing a Major Rise in Temperature! Global Blood Warming Devices Market Is Expected to Hit Hot Levels, According to a New Report by Future Market Insights (FMI) USD 937.5 million by 2032. This significant growth is driven by the steady Compound annual growth rate (CAGR) of 7.6%based on current market value $451.2 million in 2022.

One of the most important findings is that IV warming systems emerged as the market leader, capturing a significant market share of 47.1% in 2021. FMI’s comprehensive report provides a detailed analysis of the industry trajectory, offering invaluable insights into key market drivers, trends, and challenges.

According to FMI research, the global blood warming device industry is set to grow steadily, with a forecast of 5.0% CAGR from 2017 to 2026. By the end of 2026, the market is expected to generate impressive $223.5 million in revenue. The rising incidence of trauma, coronary artery bypass grafting, thyroid and orthopedic surgeries, coupled with the rising incidence of diabetes, is driving the adoption of blood-warming devices. These devices play a key role in treating and preventing complications such as hemorrhage and hypothermia.

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Hypothermia has become very common and causes serious complications, which is driving the demand for blood warming devices. Since these devices can help prevent complications during the blood transfusion process, the demand is expected to increase in the future. Companies are also investing in research and development of portable and smart blood warming devices. Manufacturers are also working on new business strategies to bring a new product to the market. Partnerships and collaborative activities are also on the rise. The demand for disposable blood and fluid warming devices is also increasing due to the increase in some complications.

Key market players competing to stay in the market

The report offers a detailed profile of some of the key market players in the global Blood Warming Devices industry such as 3M Company, Smiths Medical, The 37 Company, GE Healthcare, Emit Corporation, Stryker Corporation, Geratherm Medical, Barkey GmbH & Co. KG, Stihler Electronic GmbH, Biegler GmbH, Belmont Instrument, Keewell Medical Technology Co. Ltd., and Baxter International Inc. (Gambro). These key players are constantly working on new business strategies to offer better products and compete in the global market.

Key Forecasts for the Blood Warming Devices Market

The global blood warming device industry is segmented based on end user, product type, application, and region. Based on product type, the segment includes intravenous warming systems, surface warming systems, and blood warming accessories. Among them, surface warming system is expected to be a widely accepted product in the global blood warming device market. By the end of 2026, surface warming system is estimated to exceed 100 million US dollars in income.

Based on end-user segmentation, it includes hospitals, blood banks, home care facilities, and others. Hospitals are expected to be the largest users of blood warming devices. It is estimated that by the end of 2017, hospitals will account for almost two-thirds of the revenue share.

Based on application, the market is segmented into home care, preoperative care, acute care, neonatal care, and other applications. Blood warming devices are expected to find the largest application in preoperative care. The preoperative care segment is estimated to reach almost $100 million in revenue by the end of 2026.

Geographically, the market is segmented into Europe, North America, Japan, Asia Pacific excluding Japan (APEJ), Middle East & Africa (MEA), and Latin America. Out of these, North America is expected to dominate the global blood warming devices industry during the forecast period of 2017-2026. Increasing incidence of hypothermia among the aging population and infants in the US is one of the factors driving the growth in North America. Rising cases of trauma and surgeries are also contributing to the market growth in the region.

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Blood Warming Devices Market Taxonomy

Region

North America
Latin America
Europe
Japan
APEJ
MEA

Product type

Intravenous warming system
Surface heating system
Blood warming accessories

End User

Hospitals
Blood banks
Home Care Settings
Other end users

App

Preoperative care
Home care
Emergency care
Newborn care
Other applications

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) has over 12 years of experience in the healthcare, medical devices and pharmaceutical industries. His curious and analytical nature has helped shape his career as a researcher.

Identifying key challenges faced by clients and developing robust, hypothesis-driven solutions to equip them with strategic decision-making capabilities comes naturally to him. His primary experience includes go-to-market and expansion strategy, feasibility studies, competitive intelligence, and strategic transformation.

Sabyasachi, who holds a degree in microbiology, has published extensively in journals such as The Journal of mHealth, ITN Online and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food and beverage, consumer technology, healthcare, industrial and chemical markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional and local expertise on various industry disciplines and trends in over 110 countries.

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