Future Market Insights, Inc. predicts a surge in the clinical thermometer market, fueled by rising infectious diseases and growing temperature-sensitive industries. Dive deeper into the intricate dynamics of this burgeoning market and uncover compelling stakeholder opportunities in our comprehensive FMI report.
NEWARK, Del., Jan. 15, 2024 /PRNewswire/ -- The Temperature Monitoring Devices Market is growing due to the increased use of various thermometers in the healthcare sector and remote monitoring devices due to a surge in chronic infectious diseases.
The global temperature monitoring devices market registered a valuation of US$ 9.50 billion in 2023 and is projected to exhibit a growth of 6.4% over the forecast period, with an estimated valuation of US$ 17.68 billion by 2034.
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The rise in diseases like swine flu, dengue fever, and malaria, which require precise body temperature measurements to decide the appropriate course of treatment, is driving the market expansion. Every year, the CDC estimates that there are about 2,000 new cases of malaria identified in the United States. Additionally, according to the same source, infectious and parasitic disorders were the primary diagnosis in around 15.5 million hospital visits in the United States, and over 200 million cases of malaria were reported in the WHO African region in 2018.
Additionally, there is also an increase in awareness among other industries, including the chemical, food, and pharmaceutical industries. Maintaining a specific temperature during various product development phases is crucial in these companies.
Key Takeaways from the Market Study
- As a result of the growing importance of continuous temperature monitoring in people, non-contact-based temperature monitoring systems are the market leader as a product and account for around 54.3% of market value in 2022.
- The oral cavity segment is set to lead in terms of the application of temperature monitoring devices with a market value share of around 48.4% in 2022, owing to the increasing acceptability and compliance of patients toward this application.
- Hospitals & clinics are considered the leading segment in terms of end users, with a CAGR of 7.3% at the end of the forecast period, owing to the high prevalence of chronic and infectious diseases, as well as the associated increasing volumes of surgical procedures.
- North America is the leading region in the global temperature monitoring devices market and is expected to continue to do so with a projected CAGR of 7.1% during the forecast years.
Report Scope as per Temperature Monitoring Devices Industry Analysis:
Attribute | Details | ||
Historical Data Available for | 2019 to 2023 | ||
Forecast Period | 2024 to 2034 | ||
Market Analysis | US$ billion for Value, Units for Volume | ||
Key Countries Covered | • The United States • Canada • Brazil • Mexico • Argentina • The United Kingdom • Germany • Italy | • Russia • Spain • France • BENELUX • India • Thailand • Indonesia • Malaysia | • Japan • China • South Korea • Australia • New Zealand • Türkiye • GCC, and South Africa |
Key Market Segments Covered | By Product Type:
| ||
"Rising Infectious diseases and demand for telehealth and remote patient monitoring devices are propelling the sales of temperature monitoring in the healthcare sector. Moreover, the demand in cold chain and shipping to track temperatures may create opportunities for industry experts. " says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Market Competition
Manufacturers are turning to discreet and innovative temperature monitoring devices to meet consumer demands. Therefore, brand promotion takes place on a parallel path. The leading key players rely on a mixture of organic and inorganic growth strategies such as product launches, acquisitions, and collaborations.
- 3M
- Testo AG
- Terumo Corporation
- Siemens AG
- Rees Scientific
- Omron Healthcare
- Monnit Corporation
- Honeywell
- Deltatrack
- Cosinuss GmbH
- Abb Ltd.
- SensoScientific, Inc.
- Omega Engineering
- Kelsius, Ltd.
- Emerson Electric
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Some key developments are as follows:
- In 2022, Sensitech introduced a touchless temperature monitoring solution with app support for improved supply chain visibility. The newest wireless addition to Sensitech's renowned line of digital temperature monitoring products, the TempTale Ultra BLE, was released.
- In 2020, the launch of SafetyTemp (DHI-ASI7213X-T1), a thermal temperature monitoring station, was announced by Dahua Technology. This launch benefits businesses and educational institutions, as they may swiftly and accurately screen visitors for signs of increased body temperature with this simple-to-implement technology, which doesn't require any direct physical touch.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the market for temperature monitoring devices in its latest study, presenting a historical demand assessment of 2019 to 2023 and projections for 2024 to 2034. The global temperature monitoring devices market is segmented in detail to cover every market aspect and present a complete market intelligence approach to the reader.
The research study is based on product- (contact-based temperature monitoring systems and non-contact-based temperature monitoring systems), by application (oral cavity, rectum, ear, and others), by end user (hospitals & clinics, ambulatory surgery centers, home care settings, and others), across seven key regions of the world.
About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business. Know more about our sector coverage here.
About the Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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