The body temperature monitoring market comprises a wide range of thermometers that help in measuring the body temperature of humans and animals. These devices play a crucial role in detecting various health conditions like fever, hyperthermia, hypothermia, and others. Traditional mercury-in-glass and digital thermometers have existed in this market for a long time. However, novel temperature monitoring devices with advanced features like infrared thermometers, smart baby monitors, wearable patches, continuous temperature monitors etc. are gaining widespread popularity. Rising occurrences of fever and infections due to changing lifestyles and growing awareness about preventive healthcare are generating a significant demand for such temperature monitoring solutions.
The Global body temperature monitoring market is estimated to be valued at US$ 1.5 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the body temperature monitoring are Regent Pacific Group Limited, Menarini Group, Furiex Pharmaceuticals, Inc., Absorption Pharmaceuticals, LLC, Ampio Pharmaceuticals, Inc., Aytu BioScience, NeuroHealing Pharmaceuticals Inc., and Dong-A Pharmaceutical Co., Ltd. These players are focusing on new product launches and technological advancements to cater to the unmet needs of users.
The rising cases of fever and infectious diseases have boosted the demand for easy-to-use, precision thermometers globally. Self-monitoring devices for temperature measurement are gaining popularity due to the flexibility and convenience offered. Moreover, growing awareness about preventive healthcare practices through campaigns is compelling people to frequently check body temperatures.
Technological innovations are revolutionizing the temperature monitoring space with the introduction of smart devices, contactless solutions, integrated sensors, connected applications, and artificial intelligence. Continuous temperature monitoring patches, infrared scanning devices, digital baby monitors with advanced data tracking, blue tooth-enabled wearables are some such innovations transforming user experience.
Market Trends
1. Growing Adoption of Non-Contact Infrared Thermometers: Non-contact infrared thermometers allow measuring temperature from a distance without any physical contact, thus reducing infection transmission risks. This trend is driving several companies to launch advanced infrared thermometer models.
2. Integration of AI and IoT in Temperature Trackers: Latest smart thermometers are being integrated with AI technologies and internet connectivity. These devices can send alerts, record health data with timestamps and allow teleconsultations with doctors.
Market Opportunities
1. Emerging Economies: Developing nations in Asia Pacific and Latin America regions are expected to offer lucrative opportunities for players due to rising medical budgets, increasing per capita income and growing health awareness.
2. Pediatric Monitoring Solutions: Technological innovations in baby thermometers, integration of sensors in diapers/clothing to enable continuous temperature monitoring are expanding opportunities in pediatric healthcare.
Impact of COVID-19 on Body Temperature Monitoring Market Growth
The COVID-19 pandemic has significantly impacted the growth of the body temperature monitoring market worldwide. With the rising number of COVID cases globally, there is growing demand for body temperature monitoring devices. Pre-COVID, these devices were used majorly for healthcare applications. However, post COVID, the demand has surged from various verticals including government establishments, enterprises, educational institutions, public places to screen people and detect infections. This has propelled the sales of infrared thermometers, temperature guns, wearable patches, and smart bands integrated with temperature sensing technologies.
Many countries made temperature screening mandatory at public places to curb the spread of the virus. This led to shortage of body temperature devices in the initial months of the pandemic. Market players faced supply chain disruptions and challenges in meeting the exponential increase in demand. They ramped up production capacities and expanded distribution networks to ensure availability. Various new product launches and innovations also helped address the growing need for contactless, precise and easy-to-use temperature monitoring solutions.
Despite short term disruptions, the long term impact of the pandemic on this market is projected to be positive. Even in the post pandemic scenario, periodic temperature monitoring is expected to continue to prevent future outbreaks. The pandemic has increased awareness about the importance of continuously monitoring body temperature for early detection of infections and illness. This will further accelerate the adoption rate of both consumer and professional grade body temperature monitoring devices worldwide.
Geographical Regions with Highest Concentration
North America holds the largest share of the body temperature monitoring market in terms of value currently. This is attributed to high awareness levels regarding personal health, early adoption of advanced healthcare technologies, and presence of major players in countries like the US. The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to the rising healthcare expenditures, growing middle class population, and increasing focus on preventive healthcare in emerging nations such as India and China.
Europe captures the second largest market share. This is backed by favorable government initiatives and funding for development of innovative medical devices, well-established healthcare infrastructure, and higher per capita incomes in countries like Germany, UK and France. The Latin American region will exhibit steady growth prospects for body temperature monitoring solutions amid growing medical tourism activities and privatization of healthcare systems in Brazil and Mexico.
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