Medical Thermometer Market Growth & Trends
The global medical thermometer market size is anticipated to reach USD 1.0 billion by 2027, expanding at a CAGR of 18.0%, according to a new report by Grand View Research, Inc. An increase in the prevalence of viral diseases such as COVID-19, Influenza, Norovirus, and other medical conditions is driving the market. A growing number of medical conditions such as, dengue, swine flu, and malaria that requires precise body temperature assessment for deciding the treatment options is driving the market. According to the WHO, in 2018, more than 228.0 million cases of malaria globally, and 405,000 deaths were recorded. Symptoms of malaria include fever and chills. Therefore, with the increasing prevalence of such diseases, is driving the market.
Moreover, growing demand for contactless thermometers such as infrared electronic thermometers after the breakthrough of COVID- 19 pandemic is expected to boost the market growth. As compared to contact type, Non-contact Infrared Thermometers (NCITs) are frequently used in COVID-19 pandemic and other infectious diseases. Since there is a high risk of infection via components of the contact type temperature measuring devices. Therefore, the adoption of NCITs has increased.
Furthermore, the introduction of new products and the integration of new technologies by market players are expected to boost market growth during the forecast period. For instance, MicroLife launched Bluetooth-enabled forehead thermometer, which reflects temperature readings on smartphones.
Medical Thermometer Market Report Highlights
- Based on patient demographic, the adult’s segment dominated the market with a revenue share of 60.0% in 2019, as adults are more prone to infectious diseases due to comorbid conditions which lower their immune systems
- On the basis of the product, the digital segment dominated the market with a revenue share of 46.2% in 2019. This can be attributed to the benefits of the device such as accurate readings and low chances of cross-infection
- Based on the point of measurement, the ear segment dominated the market with a revenue share of 25.9% in 2019. As in-ear measurement responds quickly if there is a slight change in temperature than other points of measurement
- North America dominated the market with the highest revenue share of 35.1% in 2019 owing to the presence of well-established healthcare facilities and increasing incidences of infectious diseases such as COVID-19 and Influenza in the region.