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| Patient Temperature Management Blog by Beige |
The Temperature Management market which consists of Patient
Warming System and Patient Cooling System is going to be a US$ 1.6 billion
market till 2021. This huge growth in
the market has led the way for a gigantic competition among the existing as
well as the emerging vendors. The patient temperature management market is
highly competitive with presence of large, medium, and small players. Some of
the major players in this market are The
3M Company (US), Smiths Group plc (US), Covidien plc (Ireland), Stryker Corp.
(US), and C. R. Bard (US). Other notable players in the market are ZOLL Medical
Corp. (US), Geratherm Medical AG (Germany), Inditherm plc (UK), Cincinnati
Sub-Zero Medical Division (US), and the 37 Company (the Netherlands). In this highly competitive market, players
have adopted various strategies such as partnerships, agreements,
collaborations, joint ventures, expansions, new product launches, and mergers
and acquisitions to strengthen their foothold in the market.
We have mentioned the merger and acquisition and key
strategies of the top five vendors here
The company which has
a strong geographical presence in 70 countries across North America, APAC,
Europe, EMEA, and Latin America, mostly focuses on the development of new
products to accelerate its organic growth. Moreover, the company focuses on
inorganic growth strategies such as strategic acquisitions to strengthen its
patient warming business and increase its share in the patient temperature
management market.
“The acquisition of Arizant, a manufacturer of patient
warming systems,led to the expansion of
the company’s portfolio for temperature management.
Smith Medical Foundation , is a group of Smith Group Plc and
is operating in more than 30 countries.
The company not only has a strong foot hold in the market but also has been a
reputed brand in temperature management market. The company majorly focuses on
expanding its business in the emerging markets across all geographies.
“in January 2011, the company established its subsidiary in
India to cater the emerging markets. Also, the company increased the size of
its workforce in Brazil, China, India, South East Asian countries, and the Middle
East markets.”
The company is one of the oldest player in the medical
devices market. The company’s major strength lies in its long-term presence
(more than 100 years). It majorly focuses on merger and acquisition along with
targeting the clinicians to purchase the medical devices.
“ The company in October 2011 acquired Medivance, a market
leader in therapeutic hypothermia, which helped the company to expand its
portfolio for temperature management.”
Stryker is one of the leader in the medical technology
world. Its temperature management sub-segment provides hyper/hypothermia
systems, localized therapy systems, blood fluid warming systems, and forced
air-warming systems.
“In 2011, the company acquired Gaymar Industries, a US-based
manufacturer and supplier of patient temperature management devices. This
enabled the company to strengthen its product portfolio and widen its customer
base.”
Medtronic plc has a wide range of temperature management
systems and operates through 41 manufacturing facilities in 17 countries and
markets its products in more than 150 countries. The company focuses on R&D
as its major strategy for growth.
"In January 2015, Medtronic acquired Covidien plc (Ireland)
(a healthcare spinoff of Tyco International in 2007). Covidien plc is engaged
into development, manufacturing, and sells of healthcare products used in home
and clinical settings. With the acquisition of Covidien, Medtronic entered into
the temperature management market.”
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