The global thermometers marketis expected to grow at a CAGR of more than 7% during the forecast period, according to Technavio's latest market research.
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Technavio has published a new report on the global thermometers market from 2017-2021. (Graphic: Business Wire)
In this market research report, Technaviocovers the market outlook and growth prospects of the global thermometers market for 2017-2021. The market is further categorized into two product segments, including liquid-filled thermometers and digital thermometers.
Technavio's research analysts segment the global thermometers market into the following regions:
- Americas
- APAC
- EMEA
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Americas: largest thermometers market
The increasing demand from the food and beverage industry, healthcare, and pharmaceutical and biotechnology industries is driving the market for thermometers in the Americas. In 2016, the global thermometers market in the Americas accounted for more than 38% of the total market share. The healthcare facilities use thermometers, preferably the digital thermometer, during treatment, disease diagnosis, and post-treatment situations. These thermometers are used for preventive measures and home-based monitoring of post-treatment conditions.
"Besides the healthcare industry being the prime end-user in the market, the food industry also requires temperature measuring devices such as the thermometer in food testing. In 2011, the President at the time in the US, Barack Obama, passed the Food Safety and Modernization Act which revolutionized food safety in the country as the focus shifted to the prevention of contamination rather than just prevention. The food and beverage industry uses various industrial thermometers such as infrared wave sensors, digital heat sensors, and dual sensor thermometers," says Amber Chourasia, a lead health and wellnessresearch expert from Technavio.
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Thermometers market in EMEA
The global thermometers market in EMEA occupied around 32% of the total market share during 2016. The demand for various high-end thermometers such as infrared or thermocouple based-digital thermometer is generated by industrial users such as the food and beverage industry, food testing laboratories and contract research organizations, and pharmaceutical and biotechnology research centers that prevail in the developed countries of Western Europe. Thus, vendors in Western European countries such as the UK, Germany, France, and Italy experience high product demand, leading to increased sales revenue. The popularity of e-commerce also propels the market.
"The growth in the food processing and biotechnology sector in several countries in the Middle East will create new opportunities for vendors in this region. Countries such as the UAE and Qatar have introduced projects to facilitate the growth of this sector," says Amber
Thermometers market in APAC
In 2016, the global thermometers market in APAC accounted for close to 30% of the total market share. The market is expected to see the rapid adoption of various thermometers among users, leading to the quick growth of the APAC market. It is expected to see a 0.61% growth rate from 2016 to 2021, making it the fastest-growing market. Countries such as India and China contribute to the major market changes, being highly populated countries driving the demand for clinical thermometers. The demand is majorly from the use of clinical thermometers in home healthcare and hospitals as a commonly used temperature monitoring device.
The top vendors in the global thermometers market as highlighted in this market research analysis are:
- 3M
- Innovo Medical
- Omron Healthcare
- Terumo Medical Corporation
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