Infrared Thermometer Market
Infrared Thermometer Market Study by Medical and Veterinary for Hospital Pharmacies, Retail Pharmacies, and Online Sales from 2024 to 2034
Analysis of Infrared Thermometer market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Infrared Thermometer Market Outlook (2024 to 2034)
The global infrared thermometer market size is estimated to be valued at US$ 863.9 million in 2024. The market is projected to register a promising CAGR of 8.6% to capture a valuation of US$ 1,973.1 million by 2034.
Manufacturing houses are concentrating on the development of thermometers for maximum accuracy to gain entry into related markets, along with unexplored ones while maintaining and consistently uplifting the standards of infrared thermometers.
Top Market Drivers Propelling the Demand for Infrared Thermometers
- Increasing adoption of infrared thermometers in the healthcare and food industries is enhancing the market scope. .
- Surging government support is projected to positively influence the demand for infrared thermometers.
- Rising technological upgrades in infrared thermometers are projected to maintain their relevance to meet the evolving demands of modern consumers.
- Spreading healthcare industry, along with frequent outbreaks of infectious diseases, is accelerating the scope of non-contact infrared thermometers.
- Growing preference for infrared thermometers as a temperature measuring device among different industries owing to their benefits, such as simple handling, easy operation, precise results, and contactless and hygienic nature.
Report Attributes | Details |
---|---|
Estimated Market Value (2024E) | US$ 863.9 million |
Forecasted Market Value (2034F) | US$ 1,973.1 million |
Projected Growth Rate (2024 to 2034) | 8.6%CAGR |
Hospital Pharmacies Segment Growth Rate (2024 to 2034) | 8.5% CAGR |
Forehead Segment Growth Rate (2024 to 2034) | 8.3% CAGR |
North America Market Share (2024) | 43.4% |
East Asia Market Share (2024) | 9.9% |
Key Companies Profiled in the Infrared Thermometer Industry Report |
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Which Trends Dictate the Infrared Thermometer Market?
“Increasing Application of Infrared (IR) Technology Widening the Scope of Infrared Thermometers”
Rising use of infrared (IR) technologies in numerous electronics like remote-controlled devices, cameras, sensors, and so on, along with the rising popularity of infrared thermometers in the field of temperature measurement, is expected to define market movement.
Due to their ability to take non-contact measurements accurately, they are finding extensive demand to take the temperature of packaged and cooked food in the beverage industry. they are finding extensive demand to take the temperature of packaged and cooked food in the beverage industry.
“Focus on Predictive Maintenance Propelling the Demand for Infrared Thermometers”
Enterprises are concentrating on predictive maintenance owing to its functional uses in IR thermometers. Conventional mercury thermometers have observed a drastic drop in demand over the last decade as the benefits of infrared thermometers are becoming widely known.
IR thermometers effectively measure and estimate the temperature of patients, thus eliminating the requirement for healthcare workers to intervene. Additionally, coronavirus outbreaks contributed to a rapid shift toward contactless infrared thermometers.
Which Challenges Restrict Market Growth?
“Inefficiency of Infrared Thermometers during Crowd Screening Impacting its Sales”
The use of infrared thermometers is restricted to a small group of people. This device is ineffective in crowd screening, as it becomes almost impossible to locate and acquire temperatures from every individual. As a result, the usage of infrared thermometers in various institutions is expected to be hampered by thermal devices that provide more sensitive crowd monitoring.
The use of infrared thermometers is restricted to a small group of people. This device is not effective in crowd screening, as it becomes almost impossible to locate and acquire temperatures from every individual. As a result, the usage of infrared thermometers in various institutions is expected to be hampered by different thermal devices that provide more sensitive crowd monitoring.
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Region-wise Insights
Which Region Cuts a Greater Share in Infrared Thermometer Globally?
“North America Enjoys a Maximum Market Share”
The North America infrared thermometer market is projected to dominate, with an estimated share of 43.4% in 2024. In the same year, the regional market is assessed to attain a valuation of US$ 375 million, which is projected to rise to US$ 872 million by 2034.
The industry is projected to expand at a CAGR of 8.8% through 2034. million, which is projected to rise to US$ 872 million by 2034. The industry is projected to expand at a CAGR of 8.8% during this time.
The increasing adoption of infrared thermometers in North America is rising due to the surging incidence rate of infectious diseases. Consumers residing in North America are thus purchasing home care items, including infrared thermometers, to better care of their health. thus purchasing home care items, including infrared thermometers, to take better care of their health.
Which Region is Projected to Rapidly Adopt Infrared Thermometers?
“East Asia to Register a Greater CAGR for Next 10 Years”
The East Asia market for infrared thermometers is anticipated to acquire a value share of 9.9% in 2024, significantly lower than North America. The market is estimated to generate revenue worth US$ 85 million in 2024. By 2034, the market is forecast to attain a valuation of US$ 204 million. 85 million in 2024. By 2034, the market is forecast to attain a market valuation of US$ 204 million.
The regional market, however, is expected to record a slightly higher CAGR of 9.2% through 2034 than its developed counterparts. The purchase rate of infrared thermometers is increasing in East Asia due to surging investments in the healthcare infrastructure.
Moreover, market players are focusing on strengthening their ties with distribution channels like hospital pharmacies, online sales, and retail pharmacies to deeply penetrate the infrared thermometer market in the region. surging investments in the healthcare infrastructure. Moreover, market players are focusing on strengthening their ties with distribution channels like hospital pharmacies, online sales, and retail pharmacies to deeply penetrate the infrared thermometer market in the region.
Country-wise Insights
Which Country Boasts of Substantial Revenue Generation in North America?
“The United States Infrared Thermometer Market Observes Massive Revenue from the Saled of Infrared Thermometers”
The United States is estimated to account for US$ 251 million in 2024. The adoption rate of infrared thermometers is projected to be 9.1% this decade, surpassing US$ 598 million by 2034. Compared to Canada and Mexico, projected to attain US$ 100 million and US$ 25 million, respectively, in 2024, these estimations suggest a wider market for infrared thermometers in the United States. As per latest market estimates, the United States is estimated to account for a value of US$ 251 million in 2024.
The adoption rate of infrared thermometers is projected to be 9.1% throughout this decade, to surpass US$ 598 million by 2034. Compared to Canada and Mexico, which are projected to attain US$ 100 million and US$ 25 million, respectively, in 2024, these estimations suggest a wider market for infrared thermometers in the United States.
Sales in the United States are expected to rise due to the growing popularity of infrared thermometers throughout different end-use verticals, thanks to its multiple benefits. Moreover, accelerating technological upgradations in infrared thermometers is also supporting an upward trajectory of this market. popularity of infrared thermometers throughout different end-use verticals thanks to its multiple benefits. Moreover, accelerating technological upgradations in infrared thermometers is also supporting an upward trajectory of this market.
Which Country in East Asia Records Robust Growth?
“China is Forecast to Assume a Rapid Pace over the Forecast Period”
The infrared thermometer market in China is projected to record a 9.8% CAGR through 2034. China’s share in East Asia infrared thermometer industry is 43.2% in 2024. Based on value, the market in China is forecasted to increase from US$ 37 million in 2024 to US$ 94 million by 2034.
The widespread prevalence of target diseases like dengue, malaria, and swine flu drives this market. Further, increasing patient knowledge regarding diseases and measuring tools in the country also boost the potential of infrared thermometers.
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Segment-wise Insights
Which Distribution Channel Holds Prominence in the Market?
“Hospital Pharmacy Has Positioned Itself as the Leading Distribution Channel”
The hospital pharmacy segment is projected to capture a market share of 45% in 2024. This segment has been forecast to jump from US$ 389.1 million in 2024 to US$ 883.4 million by 2034. The segment is projected to assume a CAGR of 8.5% throughout this period. million by 2034. Throughout this period, the segment is projected to assume a CAGR of 8.5%.
Easy accessibility of infrared thermometers in hospital pharmacies contributes to customer preference. Additionally, market players adopt promotional tactics and collaborate with hospital pharmacies to offer effective prices, which is expected to add to its attractiveness among users.
Easy accessibility of infrared thermometers in hospital pharmacies is contributing to its preference among customers. Additionally, market players adopt promotional tactics and collaborate with hospital pharmacies to offer effective prices, which is expected to add to its attractiveness among users.
Which Application Segment is Expected to Enjoy a Greater Market Share?
“Application of Infrared Thermometers is Considerably Higher for Medical Purposes”
The medical sector is estimated to acquire a greater market share of 62.7% in 2024. Recording a CAGR of 8.3% through 2034, this sector is forecast to attain US$ 1,201.3 million by 2034. Increasing medical conditions caused by infectious diseases are raising the demand for infrared thermometers to measure patient’s temperature from a safe distance.
Which Measurement Point Type is Leading the Market Arena?
“Forehead Holds a Prominent Measurement Point Type”
The forehead measurement point type is expected to hold a market share of 58.8% in 2024. Forehead IR thermometers are gaining significant demand as they immediately assess body temperature with accuracy to diagnose whether the individual is suffering from an illness. The handling costs of forehead IR thermometers are also low, which adds to its appeal among end users.
Competitive Landscape
Key players are spreading their business into untapped markets to fill the gap between demand and supply. Additionally, players are purchasing smaller companies to capture their expertise, portfolio, technology, or customer base. Apart from mergers and acquisitions, players are partnering and collaborating to increase their market penetration. Firms are also launching new products to meet the demand for technologically advanced infrared thermometers.
Latest Developments in the Infrared Thermometer Market :
- Exergen Corporation launched TAT-2000C for consumers and TAT-2000 for professionals at the medical expo held in Mumbai, India, in June 2022. This device is the company’s latest Temporal Artery Thermometer. The Tat line captures medical professionals in nursing homes, schools, healthcare facilities, and hospitals.
- CHINO launched the IR-CZ radiation thermometer in 2020. The thermometer is used to measure temperatures ranging from low to high. CHINO launched IR-CZ radiation thermometer in 2020. The thermometer is used to measure temperatures ranging from low to high.
- In May 2020, SegunLife introduced an infrared thermometer model with storage capacity. This brand is widely recognized for its healthcare solutions and wearables. In recent years, the brand has been paving its way into the infrared thermometer market in India to meet the growing demand. the infrared thermometer market in India to meet the growing demand.
- In June 2020, EVM launched ‘Made in India’ infrared thermometers. The device is used in the home, office, or society and is handy and affordable to appeal to the population in India.
Segmentation of Infrared Thermometer Market Research
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By Measurement Points Type :
- Ear
- Forehead
- Multifunction
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By Application :
- Medical
- Veterinary
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By Distribution Channel :
- Hospital Pharmacies
- Retail Pharmacies
- Online Sales
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By Region :
- North America
- Europe
- Latin America
- East Asia
- South Asia and Oceania
- Middle East and Africa
- FAQs -
What was the value of the infrared thermometer market in 2019?
The global infrared thermometer market was worth US$ 570.0 million in 2019.
What is the sales outlook for infrared thermometers in 2024?
The sales outlook for infrared thermometers is likely to be valued at US$ 863.9 million in 2024.
What is the demand forecast for infrared thermometers for the decade?
Demand for infrared thermometer is projected to reach a market value of US$ 1,973.1 million by the end of 2034.
What is the adoption growth projection for the infrared thermometer market?
Demand for infrared thermometers is projected to rise at a CAGR of 8.6% through 2034.
At what rate is the market in East Asia predicted to grow?
The East Asia market for infrared thermometer is forecasted to expand at a CAGR of 9.2% through 2034.