Market Size –
The temperature monitoring devices market size has grown rapidly in recent years. It will grow from $3.87 billion in 2023 to $4.33 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to rising manufacturing activity, stringent regulations to ensure product quality, growing demand for digital thermometers, strong economic growth in emerging markets and rise in incidence of chronic diseases.
The temperature monitoring devices market size is expected to see rapid growth in the next few years. It will grow to $6.55 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to increasing adoption of strategies, growing demand for temperature monitoring systems, maintenance of air temperature in a controlled environment, rising demand for wireless temperature monitoring systems and rising healthcare expenditure. Major trends in the forecast period include product innovation, advancements in technology, growing demand for non-contact-based temperature, growing environmental awareness and use of artificial intelligence.
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Scope Of Temperature Monitoring Devices Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Temperature Monitoring Devices Market Overview
Market Drivers –
The temperature monitoring devices market is experiencing massive growth due to the COVID-19 pandemic. Temperature monitoring of individuals or suspected patients is the first mode of diagnosis for COVID-19 used across various types of entities, including airports, offices, clinics, hospitals, and homecare. Also, infected patients’ vital signs are required to be monitored both at hospitals and at home as a primary examination to track the infection.
The temperature monitoring devices market covered in this report is segmented –
1) By Type: Contact-based Temperature Monitoring Systems, Non-contact-based Temperature Monitoring System
2) By Application: Oral Cavity, Rectum, Ear, Other Applications
3) By End User: Hospital and Surgical Centers, Nursing Facilities, Ambulatory Care Centers, Home Care, Other End Users
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Regional Insights-
North America was the largest region in the temperature monitoring devices market in 20232. Western Europe was the second largest region in the temperature monitoring devices market. The regions covered in the temperature monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the temperature monitoring devices market include 3M Company, Drägerwerk AG & Co. KGaA, Cosinuss GmbH, Helen of Troy Limited, Koninklijke Philips N.V., Microlife Corporation, Omron Healthcare Co. Ltd., Terumo Corporation, Welch Allyn Inc., C. R. Bard Inc., Measurement Specialties Inc., Circa Scientific LLC, NOVAMED USA, Truer Medical Inc., Med-link Electronics Tech Co. Ltd., Rongrui (Shanghai) Technology Development Co. Ltd., Exsense Medical Technology Corporation, Medtronic plc, Becton Dickinson and Company, Medline Industries Inc., Amphenol Corporation, Egate Smart Building Innovation’s Inc., Silicon Laboratories Inc., Shinyei Capacitor Co. Ltd., Energy Service Company, Technosoft Solutions India Pvt Ltd., Securitas Healthcare, ABB Ltd., DeltaTRAK Inc., Emerson Electric Co., Fluke Corporation
Table of Contents
1. Executive Summary
2. Temperature Monitoring Devices Market Report Structure
3. Temperature Monitoring Devices Market Trends And Strategies
4. Temperature Monitoring Devices Market – Macro Economic Scenario
5. Temperature Monitoring Devices Market Size And Growth
…..
27. Temperature Monitoring Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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