Ingestible Thermometers Market size is expected to witness a lucrative growth from 2022 to 2028 propelled by the growing applications of the product in anesthesia and post-surgical follow up including sports, GI treatment, animal care, and others. This implies that the growing prevalence of gastrointestinal diseases would prompt the demand for ingestible thermometers in the coming years. According to estimates, nearly 20 million Americans suffer from chronic digestive diseases including the issues of GI tract.
Ingestible thermometers have been gaining momentum subject to the growing use of these to monitor the core body temperatures of divers, firefighters, and groups working in adverse temperatures. Various healthcare professionals have utilized the technology to analyze sleep disorders and improve heart surgery procedures. Besides, the product is been also used to study critical temperatures in food processing, paper manufacturing, and TV sets in sports stadiums.
Technological advancements in the business space, like an introduction to Wi-Fi technology in these thermometers would stimulate the overall ingestible thermometers market growth over the span of 2022-2028.
Based on the product, rectal thermometers segment is projected to expand at a considerable pace over the foreseeable time frame. These devices are considered to be one of the most accurate means of temperatures and are often used primarily on children, infants, or adults for whom oral temperatures can risk injury or be inaccurate. Besides, it is also used in veterinary medicine and pediatrics. In addition, rectal thermometers are colored cherry red to distinguish them from oral thermometers.
In terms of the application, ingestible thermometers market is slated to account for lucrative growth from the sleep disorder analysis segment through 2028. The segmental growth is anticipated to come from growing cases of sleep disorders like sleep apnea, worldwide. According to Sleep Foundation, obstructive sleep apnea is expected to affect between 2-9% of adults in the United States. Doctors analyzing sleep disorders have been using ingestible thermometers to determine the duration for which people are sleeping most deeply because that is when the temperature is the lowest.
Ingestible thermometers are being extensively used for ambulatory surgeries enabling the ambulatory surgical center segment to emerge as a profitable growth vertical across the overall market. This can be credited to the healthcare setting’s inherent advantages. These include reduced wait times, reduced costs, better patient outcomes, deliverance of personalized care, and more.
Geographically, Asia Pacific ingestible thermometers market size is predicted to grow significantly over the forthcoming years. This can be ascribed to the expanding geriatric population and the need for proper temperature monitoring and measuring devices amongst individuals. Moreover, an increase in disposable incomes and a surge in healthcare spending and initiatives by governments would complement the APAC market progression through 2028.
Some of the prominent players operating in the ingestible thermometers marketplace are BodyCap, Koninklijke Philips N.V., and HQ Inc.
These conglomerates are taking up major marketing strategies like collaborations, partnerships, acquisitions, mergers, and product launches, to gain a competitive position in the overall space as well as expand their consumer base.
The healthcare industry witnessed a potential surge in revenue during early 2020 mainly due to the breakout of COVID-19 infection. However, the global market was considered to observe a sluggish growth during the corona pandemic mainly due to the postponement of non-emergency surgeries and a temporary halt in the research and development activities across different economies. Furthermore, the use of oral thermometers during the pandemic over ingestible ones as well offered delay in the production and sales of ingestible thermometers worldwide.
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