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Medical Thermometers Market

Medical Thermometers Market

Medical Thermometers Market Analysis By Product Type (Digital Thermometers, Infrared Thermometers & Other Product Types) By End-User (Hospitals, Clinics & Other End Users) and By Region – Global Market Insights 2022 to 2026

Medical Thermometers Market
FACT7630MR
  • Aug-2022
  • List of Tables : 25
  • List of Figures : 132
  • 170 Pages
  • Healthcare

Medical Thermometers Market Outlook (2022-2026)

Over the period of 2022 to 2026, worldwide medical thermometer sales are projected to increase at a high CAGR of around 8%. Currently, the global medical thermometers market stands at a revenue of US$ 2.2 billion and is expected to reach US$ 3 billion by the end of 2026.

Increasing incidence of infectious and chronic diseases across the world is anticipated to primarily drive medical thermometers market potential over the next four years and is also projected to uplift the demand for medical diagnostic equipment.

Report Attributes

Details

Medical Thermometers Market Size (2022)

US$ 2.2 Billion

Projected Market Value (2026F)

US$ 3 Billion

Global Market Growth Rate (2022-2026)

8% CAGR

China Market Value (2026F)

US$ 300 Million

United States Market Value (2022)

US$ 900 Million

Japan Market Growth Rate (2022-2026)

6% CAGR

Key Companies Profiled

  • A&D Company Limited
  • Citizen Systems Japan Co. Ltd.
  • Microlife Corporation
  • American Diagnostic Corporation
  • Briggs Healthcare
  • Actherm Medical Corp.
  • Exergen Corporation
  • RG Medical Diagnostics
  • Omron Healthcare Inc.
  • Cardinal Health Inc.
  • Easywell Biomedicals Inc.
  • Innovo Medical
  • Geratherm Medical AG
  • Welch Allyn Inc.
  • Hicks Thermometers Limited
  • Kaz USA Inc.
  • Terumo Corporation

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Medical Thermometer Demand Analysis (2017-2021) in Comparison to Industry Growth Forecasts (2022-2026)

The world has witnessed a notable increase in outbreaks of infectious diseases such as ebolavirus, malaria, dengue, swine flu, and coronavirus which led to an increased focus on health. Medical thermometers are crucial in monitoring symptoms of several diseases and as the prevalence of chronic diseases increases it is expected to favor sales of medical thermometers over the years to come.

From 2022 to 2026, the global medical thermometers market is projected to evolve at a noteworthy 8% CAGR.

Demand for medical thermometers increased exponentially in 2020 as the world witnessed the emergence of a global COVID-19 pandemic. Medical infrared thermometers especially witnessed a hike in demand as they were safe to use and reduced the risk of cross-contamination and eliminated the risk of community spread of the virus.

Rising demand for body temperature monitoring, rapid technological advancements, increasing focus on health, and increasing preference for modern medical thermometers over conventional mercury thermometers are prominent trends that are expected to positively influence the overall market potential through 2026.

However, inaccuracy in readings of certain medical infrared thermometers is expected to have a hindering effect on the global medical thermometers market growth throughout the forecast period.

Medical thermometers market forecast by Fact.MR

What Factors Augment Medical Thermometers Market Growth?

“Increasing Incidence of Viral Diseases across Geographies”

Over the past couple of decades, there has been a significant increase in the incidence of various viral diseases such as swine flu, ebolavirus, and the most recent one coronavirus which led to a global pandemic. These viral diseases have flu-like symptoms and need monitoring of body temperature to be identified or treated.

This is why the demand for medical thermometers is expected to rise as the prevalence of viral diseases requiring body temperature monitoring increases.

“Increasing Focus on Patient Safety”

The healthcare industry has seen major changes over the past few years owing to the high prevalence of chronic and infectious diseases. The focus on patient safety has also bolstered over the past years and this trend is expected to be frequent over the coming years as well.

The use of contactless medical thermometers is being preferred across various healthcare institutions and is being recommended by several caregivers as they reduce the risk of cross-contamination and ensure safety for professionals as well as patients. Hence, as the focus on patient safety increases and awareness of hospital-acquired infections rises, it is expected to favor the medical thermometers market potential over the next four years.

An Adaptive Approach to Modern-day Research Needs

Which Region Spearheads Medical Thermometer Demand?

“North America to Lead Global Medical Thermometers Market”

The North America medical thermometers market is projected to emerge as a highly lucrative one over the coming years owing to the rising incidence of infectious diseases and the presence of developed healthcare infrastructure. Increasing popularity of home care, rising geriatric population, and a high number of innovative product launches in this region are expected to be other factors driving medical thermometers market potential through 2026.

Europe is projected to exhibit rewarding opportunities in the medical thermometers market over the coming years as the incidence of viral diseases increases and spending on healthcare rises. Germany, France, Italy, and the United Kingdom are anticipated to be the most lucrative markets in this region across the forecast period.

Rising focus on healthcare and increasing investments in healthcare infrastructure development are expected to be prime factors that govern medical thermometers market potential in the Asia Pacific region.

Increasing awareness of preventive healthcare, high incidence of viral diseases, rising prevalence of hospital-acquired infections, growing focus on patient safety, and supportive government initiatives are other factors that could potentially favor medical thermometers market growth in this region.

Key economies such as Japan, China, and India are expected to lead the growth charge in this region. The replacement of mercury thermometers with digital thermometers in the aforementioned countries is expected to be a popular trend that is expected to favor medical thermometers market growth over the coming years.

Country-wise Insights

How Lucrative is the U.S. Digital Thermometer Market?

“High Healthcare Expenditure Driving Substantial Demand for Digital Thermometers”

The United States has been proven to be an excellent market for all medical devices and healthcare products owing to the high healthcare expenditure and spending potential that the country has to offer.

The increasing popularity of home care, rising geriatric population, rapid adoption of advanced technologies, and presence of developed healthcare infrastructure are other factors that propel the medical thermometers market growth in the country.

Rising prevalence of chronic diseases and increasing awareness of preventive healthcare are other factors that could drive up sales of personal thermometers and medical-grade oral thermometers as well.

In 2022, the U.S. medical thermometers market accounts for a valuation of US$ 900 million.

Is China an Investment-worthy Market for Suppliers of Medical Thermometers?

“Increasing Focus on Healthcare & Supportive Government Initiatives Providing New Opportunities”

The market for medical thermometers in China is expected to be highly lucrative over the coming years owing to the rising prevalence of viral diseases, increasing spending on healthcare, and supportive government initiatives.

Besides, China is also a major manufacturing hub and this makes it a highly opportune market for Manufacturers of medical thermometers as they can set up their facilities with government support and reduce overall production costs to maximize profits.

The growing geriatric population and rising frequency of viral outbreaks are also expected to drive up the demand for medical thermometers in this country across the forecast period.

The China medical thermometers market is set to expand at a CAGR of around 8.4% to attain a value of US$ 300 million by the end of 2026.

Category-wise Insights

Which Type of Medical Thermometers Will be Popular Going Forward?

“Infrared Thermometers to Witness Higher Demand Growth”

The global medical thermometers market based on product type is segmented into digital thermometers, infrared thermometers, and other product types.

The digital thermometers segment is projected to account for a significant market share across the forecast period owing to their rising popularity and accuracy. Increasing technological proliferation is anticipated to propel digital thermometer demand at a CAGR of around 7% throughout the forecast period.

Rising focus on patient safety and increasing focus on reducing cross-contamination are prime factors that are expected to favor sales of infrared thermometers over the next four years. The emergence of the COVID-19 pandemic in 2020 bolstered the demand for infrared thermometers and other non-contact thermometers which, is expected to foster through 2026.

Which End User Will Account for a Majority of Medical Thermometer Shipments?

“Hospitals Expected to Drive High Medical Thermometer Sales”

The global medical thermometers market based on end user is segmented into hospitals, clinics, and other end users.

The hospitals segment currently accounts for a dominant market share and is projected to maintain this stance throughout the forecast period. The replacement of old mercury thermometers with modern digital and infrared thermometers is expected to be a prominent trend that will drive medical thermometers market potential in this segment over the next four years.

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Competitive Landscape :

Key suppliers of medical thermometers are expected to focus on new product launches to maximize their sales potential and increase their revenue generation capacity.

  • In May 2022, Exergen Corporation, a leading name in the medical thermometer industry, announced the launch of a new thermometer made for the Indian market. The TAT-2000 temporal artery thermometer is easy to use and highly accurate.

This latest research by Fact.MR, a market research and competitive intelligence provider, lists all the recent innovations in the medical thermometers industry landscape and also provides a comprehensive account of all the opportunities in the medical thermometers marketplace.

Key Segments in Medical Thermometers Industry Research

  • By Product Type :

    • Digital Thermometers
    • Infrared Thermometers
    • Other Product Types
  • By End User :

    • Hospitals
    • Clinics
    • Other End Users
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

- FAQs -

Currently, the global medical thermometers market is worth US$ 2.2 billion.
By 2026, sales of medical thermometers are expected to reach US$ 3 billion.
Demand for medical thermometers is anticipated to surge at 8% CAGR through 2026.
Top companies in the medical thermometers industry are American Diagnostic Corporation, Briggs Healthcare, Actherm Medical Corp., Exergen Corporation, RG Medical Diagnostics, Omron Healthcare Inc., Cardinal Health Inc., Easywell Biomedicals Inc., Innovo M
By 2026, the China medical thermometers market is projected to reach US$ 300 million.

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