The North America Blood Warmer Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030).
The primary drivers propelling the growth of the market are an increase in surgeries, trauma cases, hypothermia cases, elderly and newborn populations, and cases of hypothermia. This is a significant contributing factor to the increase in demand for blood/IV warmers, which are used to bring fluids to body temperature, hasten patient recovery, and lower the risk of transfusion shock. The introduction of next-generation blood warmer to support various therapies, such as continuous renal replacement and organ support therapies, is one of the major factors fueling market expansion.
The healthcare sector's requirement for blood warmers is anticipated to increase due to several causes, including rising hypothermia treatment demand and growing armed forces personnel globally. Additionally, the market is expected to develop due to increased demand from unconventional end users operating in extremely cold situations, such as military operations, rescue services, and ambulatory care.
The number of Canadians 65 and older is projected to increase by 68% during the next 20 years. Its size has increased by more than threefold in the last 40 years. The population of seniors increased from around 2 million to 3.5 million between 1977 and 1997. In 2017, the population was approximately 6.2 million. It is anticipated to reach a population of 10.4 million in 2037. This population in Canada is projected to increase by 2.1 times by 2037 from its size in 2017.
According to the 2020 Census, from 1920 to 2020, the number of Americans 65 and older increased roughly five times more quickly than the overall population. In 2020, there were 55.8 million people over the age of one in the United States or 16.8% of the total population. As a result of the rising old age population and ambulatory surgeries across the regional nations, the market is anticipated to grow.
The US market dominated the North America Blood Warmer Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $507.1 million by 2030. The Canada market is anticipated to grow at a CAGR of 9.7% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 8.7% during (2023 - 2030).
Based on Application, the market is segmented into Surgery, Acute Care, New Born Care, Homecare, and Others. Based on Product, the market is segmented into Non-portable Blood/IV Warmers, and Portable Blood/IV Warmers. Based on End-use, the market is segmented into Hospitals/Clinic, Ambulatory Services, Defense Forces, and Rescue Forces. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Blood Warmer Market is Projected to reach USD 1.8 Billion by 2030, at a CAGR of 7.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, Stryker Corporation, ICU Medical, Inc., Gentherm Incorporated (Gentherm Medical), Vyaire Medical, Inc. (Apax Partners LLP), Belmont Medical Technologies (Audax Management Company, LLC.), The Surgical Company, Life Warmer, Estill Medical Technologies, Inc., and Smisson-Cartledge Biomedical, LLC.
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