Continuously Strengthening Healthcare Sector to Spur Demand for Patient Warming Devices Market

The current global health related statistics is indicating increased number of deaths due to increasing prevalence of chronic diseases. According to a report by the World Health Organization, chronic diseases are by far the leading cause of deaths in the world, representing 60% of all mortalities. As a result, for fast recovery, patients are undergoing more surgeries. This trend has augmented the demand for patient warming devices.

While developed regions will maintain a dominant share in the global patient warming devices market, the emerging nations are likely to register robust growth owing to the continuous development in the healthcare sector. Transparency Market Research (TMR) analysts state that these factors are anticipated to have a strong impact on the overall development of the global patient warming devices market. TMR estimates the market to expand at a 5.2% CAGR between 2015 and 2023, reaching a valuation of US$2.58 bn in 2019 from US$1.6 bn in 2014.

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Developed regions such as North America and Europe have served up the patient warming devices vendors with the most attractive market opportunities. Regionally, North America is the leading market because of two key reasons. First, the increasing number of patients undergoing surgeries has fuelled the demand for patient warming devices. Second, the rising geriatric population in the U.S. and Canada will also augur well for the patient warming devices market. The increasing geriatric population will lead to increasing surgical procedures conducted yearly, thereby creating an influx of patient warming devices. According to the latest census, the geriatric population in the U.S. numbered 46.2 million in 2014 and in 2060, their number is expected to reach 98 million, which is more than twice the number in 2014. This region is thus anticipated to remain lucrative for leading...