Thermometer Market is Expected To Witness Significant Growth Rate In The Future From 2022 To 2030

 Thermometer Industry Overview

The global thermometer market size was valued at USD 1.3 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.7% from 2022 to 2030. Increase in the prevalence of infectious diseases and other medical conditions such as malaria and dengue, as well as rising awareness about the importance of body temperature monitoring are the major factors expected to drive the market. In addition, increasing applications of such devices in temperature monitoring for industrial, medical, laboratory, and imaging purposes are few other factors contributing towards market growth.

The increase in several medical conditions such as, malaria, dengue, and swine flu involve accurate body temperature readings to determine the line of treatment, is a major factor responsible for the market growth. According to the CDC, around 2,000 cases of malaria are diagnosed in the U.S every year. In addition, as per the same source, over 15.5 million visits to hospitals with infectious and parasitic diseases as the primary diagnosis in the U.S. Furthermore, the WHO African region had the highest burden of malaria, accounting for over 200 million cases in 2018 followed by the WHO South-East Asian region and the WHO Mediterranean region. Presence of unmet medical needs, low level of hygiene, and subsequent rise in target population in these regions are expected to boost demand for thermometers.

Gather more insights about the market drivers, restrains and growth of the Global Thermometer market

In addition, increasing health consciousness and rising patient awareness are among the major factors contributing to the market growth. With growing demand for self-healthcare, companies such as Nexcare and Terumo Corporation introduced portable products, which are user-friendly and also can be easily adopted by any patient. Moreover, increasing dependency of healthcare practitioners on the usage of thermometers for checking health status of patients is expected to boost the market. Awareness among other end users such as pharmaceutical, food, and chemical industries is also increasing. Maintenance of specific temperatures in various stages of product development is an essential requirement in these industries. These factors are estimated to boost market growth over the forecast period.

Moreover, rapid technological advancements has led to the launch of innovative product launch, which is anticipated to accelerate market growth during the forecast period. Advancements include temporal thermometer TAT-2000C by Exergen Corporation, which can be used to measure body temperature by rolling it on a child’s forehead. In addition, American Diagnostics Corporation launched Adtemp 429 thermometer that measures temperature without skin contact, thus, minimizing the risk of cross-contamination. Thus, increasing demand for easy-to-use, sensitive, and rapid thermometers, is also expected to drive the market. In addition, in food industry, thermometers are required to check temperatures to avoid contamination and degradation of food and beverages. Companies, such as TEL-TRU, provide a range of NSF-certified poultry/meat, food testing, and barbeque thermometers. Thus, these thermometers help maintain the quality of temperature-sensitive eatables, thus boosting market growth.

Use of thermometer is increasing in the countries such as the U.S., the U.K., Italy, and India owing to high prevalence rate of infectious diseases, including the current pandemic of COVID-19. Increased body temperature is the first sign that the body is preparing to fight infection, therefore, doctors everywhere make their first assumption about the disease based on thermometer readings. Thus, the spread of highly infectious diseases are resulting in demand for thermometers in medical settings globally. For instance, according to CDC, during the 2018-2019 season, around 35.5 million individuals were diagnosed with influenza, out of which 16.5 million people visited physician, and 490,600 were hospitalized. Thus, these factors are expected to positively impact the market during the forecast period. Similarly, India has a high burden of infectious diseases such as influenza virus, scrup typhus, malaria, dengue, and Kyasanur Forest Disease virus including current pandemic of coronavirus. These diseases account for over 80% of illnesses that start with a high fever as per the CDC report. These are the major factors expected to drive growth of thermometers over the forecast period.

Furthermore, coronavirus outbreak has positively impacted the medical industry with an increased demand for thermometers. This is likely to drive the market during the forecast period. The need for thermal screening at public places, offices, and hospitals has increased the demand for infrared thermometers. Moreover, ban of traditional mercury in-glass thermometers in 13 states of the U.S., are boosting the sale of non-contact thermometer. The government has passed the laws for banning the manufacture, and sale of mercury thermometers. This is to eliminate the threat of glass thermometer breakage and the consequent release of mercury vapor at home which are environmentally hazardous. Thus, replacement of mercury thermometers with electronic thermometers, and increased sales of infrared thermometers.

Post COVID-19, technology will emerge to generate new growth prospects. A notable invention that has already hit the market is a next-generation, smart infrared thermometer developed in Taiwan that is integrated with artificial intelligence (AI) to eliminate erroneous readings. The device's AI capability allows it to estimate temperatures by identifying people's faces. This minimizes errors caused by interference from radiation emitted by objects held in a person's hand while being screened.

Another major advancement is the launch of DeltaTrak's non-contact forehead infrared thermometer in March 2020. It is FDA and CE approved. The novel technology is likely to play a critical role in addressing the issues posed by the spread of the corona virus. The FDA-approved device provides immediate temperature readings without making physical contact with the person being checked. The novel COVID-19 risk prevention system is primarily intended to eliminate cross contamination and increase safety while carrying out daily preventative protection activities in large workforce settings. Similarly, in August 2020, a New Delhi based startup EVERYCOM launched a non-contact infrared thermometer - IR37, with a display temperature range of 89.6 ℉ to 109.4 ℉ (32℃ to 43℃). Thereby, such developments is expected to help market propel post pandemic.

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Thermometer Market Segmentation

Grand View Research has segmented the global thermometer market on the basis of product, application, and region:

Thermometer Product Outlook (Revenue, USD Million, 2018 - 2030)

• Mercury-based Thermometers
• Mercury-free Thermometers
  • Infrared Radiation Thermometer
  • Digital Thermometer
  • Others

Thermometer Application Outlook (Revenue, USD Million, 2018 - 2030)

• Medical
• Industrial
• Food
• Laboratory
• Others

Thermometer Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Market Share Insights

• November 2018: Briggs Healthcare acquired Selman-Holman and Associates, a service consulting firm, to expand its education and compliance solutions for home health industry.

 

• January 2019: Exergen Corporation introduced PEKO thermal dynamic management solution. This solution will allow manufacturers to safely increase their industrial processes, while ensuring processing temperatures to safely be within the mentioned specifications.

 

Key Companies profiled:

Some prominent players in the thermometer market include:

• Medline Industries, Inc.
• 3M
• Welch Allyn
• America Diagnostics Corporation
• A&D Medical
• Exergen Corporation
• Microlife Corporation
• RG Medical Diagnostics
• Medtronic
• Terumo Corporation
• Actherm Inc.
• Briggs Healthcare
• OMRON Healthcare Inc.
• Fairhaven Health

 

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