by Body temperature monitoring devices are used to measure human body temperature, which helps in detecting abnormalities. Fever thermometers are widely used to check oral, rectal or underarm temperature.
Digital thermometers provide quick and accurate readings and are gaining popularity over mercury thermometers. Other devices like temperature strips, thermal scanners and infrared thermometers are also used for temperature monitoring. Regular monitoring helps in early detection of fever and other health issues. This allows for timely medical intervention and prevents complications.
The Global Body Temperature monitoring Market is estimated to be valued at US$ 1196.58 Mn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.
Market key trends:
One of the key trends in the body temperature monitoring market size and trends is the growing preference for wireless and non-contact temperature monitoring devices. Traditionally, thermometers required physical contact with the body part being measured. However, technological advances have led to the development of thermal cameras and scanners that can measure temperature remotely by detecting infrared heat signatures. These contactless thermometers provide hassle-free readings and help maintain hygiene which is particularly important in healthcare settings. They are increasingly being used for mass temperature screening in public places like airports, malls and offices to detect people with fever, which is a key symptom of COVID-19 and other infectious illnesses. The non-invasive nature and convenience of wireless temperature monitors is expected to further propel the demand over the forecast period.
Porter’s Analysis
Threat of new entrants: Low threat as this is an established market requiring significant capital investment for R&D.
Bargaining power of buyers: Moderate bargaining power due to availability of substitute products. However, buyers prefer branded and reliable products.
Bargaining power of suppliers: Low bargaining power as there are many suppliers and brand value attracts customers.
Threat of new substitutes: Moderate threat from new substitutes and technologies that can disrupt the market.
Competitive rivalry: High competition between key global players to gain market share through product innovations.
Key Takeaways
The global Body Temperature Monitoring Market Demand is expected to witness high growth. The global Body Temperature Monitoring Market is estimated to be valued at US$ 2.2 billion in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030.,
Regional analysis shows North America currently dominating due to technological advancements and increasing healthcare expenditure. Europe is the second largest market due to rising cases of fever. Asia Pacific is expected to grow at the fastest pace with increasing awareness.
Key players operating in the Body Temperature Monitoring market are Hill-Rom Holdings, Inc., Cardinal Health, Terumo Corporation, Koninklijke Philips N.V., Microlife Corporation, B. Braun Melsungen AG, American Diagnostic Corporation (ADC), and Geratherm Medical.
Hill-Rom Holdings dominates the market with diversified product portfolio. Koninklijke Philips focuses on technological innovations in thermometers to gain market share. Terumo Corporation has strong presence in thermometers and products for basic healthcare. Microlife Corporation has wide range of digital thermometers. Braun Melsungen provides medical devices for temperature monitoring and management.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
About Author - Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn
