Temperature Monitoring Devices Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2728
Temperature Monitoring Devices Market size is projected to experience significant growth from 2018 to 2024.
Increasing prevalence of chronic and infectious diseases worldwide will boost the growth of global temperature monitoring devices market over the forecast period. Infectious diseases are a leading cause of death across the globe particularly in developing countries. According to World Health Organization, in 2016, lower respiratory infections accounted for 3.0 million deaths, diarrheal diseases for 1.4 million and tuberculosis for 1.3 million. Use of temperature monitoring devices to monitor patient’s body temperature during such infections will drive the market growth during the forthcoming years.
Technological advancements in temperature monitoring systems will serve to be another positive impact rendering factor. Demand for safe, more cost-effective and accurate deep-tissue temperature sensing alternatives is rising from pas few years. Furthermore, availability of technologically advanced instruments such as non-contact based thermometers will upsurge the size of temperature monitoring devices market during the throughout the analysis timeframe.
However, high cost of devices such as table top temperature monitoring devices may restrain the market growth in the coming years. Moreover, discomfort caused by the use of rectal thermometers in pediatric as well as geriatric patients could limit the adoption of such devices during the forecast period.
Hand held devices segment accounted for considerable market share in 2017 and is expected to maintain its position over forecast period. High growth of this segment is due to availability of wide variety of easy-to-use, portable and smart temperature monitoring devices as well as increasing awareness for continuous patient monitoring. Development of technologically advanced temperature monitoring systems for personal or home-use will fuel the demand for hand held temperature monitoring systems in the coming years.
Non-invasive segment is expected to lead the market during the forecast period due to its wide applications in medical field. Advancements in technology will serve to be an important factor driving the growth of non-invasive temperature monitoring devices market. Development of the Non-Intrusive Human Body Temperature Acquisition and Management System, a unique health system to monitor patient temperature using computer will fuel the demand for such minimally invasive monitoring techniques thereby augmenting the segment growth.
Clinical segment accounted for the highest revenue share in 2017 in the temperature monitoring devices market due to increased prevalence of diseases such as influenza, malaria, cholera, and meningitis. Increasing demand for portable and easy to use temperature monitors for continuous monitoring of patient’s body temperature suffering from aforementioned diseases will spur the segment growth by 2024.
Hospitals segment is prognosticated to witness lucrative growth over the forecast period owing to growing geriatric population base suffering from various chronic diseases that can be monitored using temperature monitoring devices. Availability of skilled and efficient professionals in hospitals as well as ability of hospitals to buy costly equipment as well as increased number of surgeries that are mostly performed at hospitals will drive the growth of hospitals segment in the foreseeable future.
U.S. temperature monitoring devices market dominated the industry in 2017 and is expected to grow significantly over the forecast period. Growth is attributed to the availability of highly advanced technologies for temperature monitoring and awareness among people regarding use of such monitoring devices for early diagnosis of various infectious diseases. Moreover, high healthcare expenditure, increasing geriatric population base as well as high demand for technologically advanced products will augment the market growth throughout the analysis period.
China temperature monitoring devices market is estimated to show robust growth during the analysis period owing to increasing number of hospitals and clinics in the region. China is a highly populous country and prevalence of various chronic and infectious diseases is rapidly increasing in recent years. Furthermore, healthcare reforms in China, rising disposable income and increasing awareness among people regarding importance of monitoring body temperature are other key factors that will boost the industry growth over the forecast period.
Some of the major industry players operating in temperature monitoring devices market include Koninklijke Phillips, C. R. Bard, A & D Medical, Covidien, Masimo, 3M Company, Dragerwerk, Cosinuss, Helen of Troy, Terumo Corporation, Welch Allyn, Omron Healthcare, Microlife Corporation, Briggs Healthcare. Key strategies adopted by the industry players include strategic collaborations, partnerships, mergers and innovative product launches to expand their product portfolio.
Temperature Monitoring Devices Market by Product, 2013-2024 (USD Million)
- Table Top Temperature Monitoring Devices
- Non-invasive Vital Signs Monitoring Devices
- Continuous Core Body Temperature Monitoring Devices
- Hand Held Temperature Monitoring Devices
- Digital Thermometers
- Infra-red Aural Thermometers
- Wearable Continuous Monitoring Thermometers
- Temperature Monitoring Sensors & Smart Temperature Patches
Temperature Monitoring Devices Market by Technique, 2013-2024 (USD Million)
Temperature Monitoring Devices Market by Application, 2013-2024 (USD Million)
Temperature Monitoring Devices Market by Distribution Channel, 2013-2024 (USD Million)
- Ambulatory Care Centers
- Long-term Care Centers
- Retail Pharmacies
- Online Stores
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Koninklijke Phillips
- C. R. Bard
- A & D Medical
- 3M Company
- Helen of Troy
- Terumo Corporation
- Welch Allyn
- Omron Healthcare
- Microlife Corporation
- Briggs Healthcare
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