The medical thermometer market has witnessed significant growth owing to rising incidence of contagious diseases and increasing geriatric population globally. Medical thermometers help in measuring the body temperature and are one of the most basic indicators of general health and illness. There are different types of medical thermometers available including mercury-filled thermometers, digital thermometers, infrared thermometers, and temperature strips. Mercury-filled thermometers are being phased out due to risks associated with breakage. Digital thermometers are easy to use and provide accurate temperature readings in a short period. Infrared thermometers allow non-contact temperature readings and are suitable for public health monitoring.
The Global Medical Thermometer Market is estimated to be valued at US$ 2.20 Bn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the medical thermometer market are Medline Industries, Inc., Welch Allyn, Medtronic, OMRON Corporation, America Diagnostics Corporation, 3M Company, Microlife Corporation, Briggs Healthcare, Exergen Corporation, Terumo Corporation, Medtronic PLC, Geratherm Medical AG, Exergen Corporation, A&D Company, Limited, BPL Medical Technologies, Rossmax International Ltd., and Radiant Innovation Inc.
Rising awareness regarding importance of regular temperature monitoring and self-diagnosis present lucrative growth opportunities for players in the Medical Thermometer Market Demand. Advancements in digital technology have enabled development of smart medical thermometers with connectivity options and data tracking features.
Major players are focusing on expanding their geographical presence through collaborations with regional distributors. Favorable regulations and reimbursement policies in developed markets are encouraging international players to set up manufacturing facilities in North America and Europe.
Market Drivers
Growing geriatric population susceptible to chronic illnesses: Rise in aging population globally increases the risk of chronic diseases and infections, driving demand for regular temperature monitoring devices.
Increasing awareness about importance of timely diagnosis: Campaigns by healthcare organizations to promote self-screening at home have boosted adoption of medical thermometers for self-diagnosis.
Market Restraints
Availability of alternative monitoring devices: Medical Thermometer Market Challenges And Opportunities devices such as smartwatch, fitness bands and wearables with in-built temperature sensors pose competition to traditional.
Risk of inaccurate readings: Accuracy depends on correct use as improper placement under arm, mouth or rectum could make reading ineffective. Mercury-based versions also carry risks if broken.
Segment Analysis
The medical thermometer market is dominated by the digital thermometers segment. Digital thermometers are gaining popularity over traditional mercury-in-glass thermometers due to their fast reading, easy to use features and lack of potential safety hazards associated with mercury. Within digital thermometers, ear thermometers account for the largest share due to their non-invasive measurement procedures and instant results. Infrared thermometers are also gaining market share owing to their non-contact measurement capability which minimizes infection risks.
Global Analysis
The North America region accounts for the largest share in the global medical thermometer market due to high awareness levels regarding personal healthcare, large presence of healthcare facilities and increased adoption of advanced medical devices. Asia Pacific is anticipated to witness the fastest growth during the forecast period amid rising healthcare expenditure, increasing occurrences of infectious diseases and growing geriatric population in countries like China, India. Growing medical tourism industry in Asia Pacific economies is further supporting market expansion in the region. Emerging markets like India, Brazil and countries in Middle East and Africa are expected to uphold decent opportunities for medical thermometer companies attributed to rising healthcare infrastructure and demand for quality medical services. Regions like Latin America and Middle East & Africa also exhibit immense growth prospects in the upcoming years.
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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.
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