Infrared Thermometer Market Forecast and CAGR
As per Fact.MR’s recent report, the infrared thermometer market is set to observe an exponential growth over the forecast period 2021-2031. Increasing growth in demand and sales is expected to influence the sales of infrared thermometers positively.
The infrared thermometer industry is expected to gain significant traction by 2031. Prospects are further fueled by the COVID-19 pandemic, which is prompting people across the world to regularly check body temperature to detect signs of fever or possible infection.
What is driving the Infrared Thermometer Demand?
The COVID-19 pandemic has increased infrared thermometer sales. Infrared Thermometers are quick, non-invasive, and easy to use. They provide fast, accurate temperature readings and are extremely hygienic.
Additionally, infrared thermometers provide reliable readings. Also, measuring temperatures with the help of infrared thermometers saves time at public places like hospitals and airports. Furthermore, these thermometers measure temperatures without human contact. Consequently, it reduces the spread of infectious pathogens, including viruses and bacteria, protecting patients from contracting contagious diseases.
Infrared thermometers are also used in industrial temperature control applications and laboratories, which is expected to further fuel demand in the forthcoming decade. In order to measure the temperature of food samples such as meat, the food industry is emerging as another potential application area for infrared thermometers. This is largely in response to reports of contamination via human contact.
Infrared thermometers usage has also increased in commercial and residential sectors. Amidst the pandemic crisis, apprehensions regarding frequent hospital visits prompted consumers to purchase residential grade medical equipment, heightening sales of infrared thermometers.
Also, infrared thermometers are used for detecting temperatures at firefighting spots. Its ability to measure temperatures from a distance leads to the protection of human lives during the entire operation.
U.S Infrared Thermometer Market Outlook
According to FEMA, the Federal Government of America is planning to distribute non-contact infrared thermometers to different regions across the country for measuring the temperatures of people at workplaces.
Additionally, the resumption of work from office premises amid the receding impact of COVID-19 is spurring demand for infrared thermometers, as companies strictly follow pandemic-related protocols. Based on the aforementioned trends, infrared thermometer manufacturers are augmenting their presence across the U.S market.
Asia-Pacific Infrared Thermometer Market Outlook
A humongous population base across countries such as China and India, coupled with the disastrous impact of COVID-19 has catapulted sales of infrared thermometers in the Asia-Pacific.
India is one of the worst-hit countries by the pandemic. Alarming numbers of COVID-19 cases and high death rates are prompting hospitals and clinics to periodically check the body temperature of admitted patients, spurring demand.
Besides, the resumption of commercial activities requires owners to undertake temperature screening, which is expanding the outreach of infrared thermometers.
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Europe Infrared Thermometer Market Outlook
The market for infrared thermometers is expected to surge impressively throughout the forecast period, with Germany expected to be the epicenter of overall growth. Increasing investment in the healthcare industry with respect to introducing innovative technologies is acting as the primary determinant of future expansion. Hence, minimally invasive approaches are being embraced, heightening sales of infrared thermometers.
Besides Germany, the U.K, Spain and France are likely to emerge as highly lucrative markets, given the burgeoning volumes of healthcare industry research being undertaken in recent years.
Who are the Key Manufacturers and Suppliers of Infrared Thermometers?
Some of the leading infrared thermometer manufacturers are
- Exergen Corp
- Aoss Medical Supply
- Thermo Works
- LCR Hallcrest
- Capitol Scientific
- BV Medical
- Angelus Medical
- Optical Equipment
- Foracare Sussie AG.
The aforementioned players are mainly relying on a mix of organic and inorganic growth strategies such as product launches, collaborations and acquisitions to expand their market share.
For instance, Exergen Corporation, a key manufacturer of infrared thermometer has recently announced a green cash flow program that accepts out of service thermometers and replaces it with Exergen TAT-5000 and also gives $100 credit. This program by the company basically focuses on reducing waste.
Another key player LCR Hallcrest has been acquired by SpotSee, a global leader in condition monitoring as the company focuses on expanding its temperature portfolio and venturing into new markets.
An Adaptive Approach to Modern-day Research Needs
Infrared Thermometer Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
By Product Type
- Handheld Infrared Thermometer
- Pocket Infrared Thermometer
- Fixed Mount Infrared Thermometer
By End users
- Shopping Malls
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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