Temperature monitoring devices market comprises of the sales of temperature monitoring devices & related services which are used to autonomously record the temperature for particular period of time. These monitors assist in measuring a patient’s temperature during the postoperative care, critical care, shock, surgery, sepsis & infections, fertility & ovulation assessment, treatment of hypothermia & hyperthermia, or in other cases where there is a need to constantly monitor the body temperature. This is generally used for gathering temperature data from the various field conditions & monitoring the shipments in a cold chain.
According to study, “Temperature Monitoring Devices Global Market Report 2020-30: Covid 19 Implications and Growth” the key companies operating in the global temperature monitoring devices market are Cosinuss GmbH, Helen of Troy Limited, 3M Company, Drägerwerk AG & Co. KGaA , Koninklijke Philips N.V, Terumo Corporation, Welch Allyn, Inc, Microlife Corporation, Omron Healthcare, C. R. Bard, Microlife Corporation, Novamed USA, Truer Medical, Measurement Specialties, Circa Scientific, Med-link Electronics, Rongrui, Medline Industries, Exsense, Medtronic. Leading companies are focusing on the manufacturing of wearable temperature monitoring devices, which measure the temperature by using the medium like touch and patch. It is connected to the smart devices like tablet and phone that allows the continuous monitoring of temperatures. Products like fit bit, temperature strips, apple watch, temperature patches are widely used for monitoring the temperature.
Based on type, temperature monitoring devices market is segmented as contact-based temperature monitoring devices and non-contact-based temperature monitoring devices. Based on product type, market is segmented as analog temperature monitoring devices and digital temperature monitoring devices. Based on application, market is segmented as rectum, oral cavity, ear and others. In addition, based on end-user, market is segmented as home care settings, healthcare facilities and others.
The temperature monitoring devices market is driven by rise in Covid-19 pandemic, followed by increase in geriatric & pediatric population, surge in number of blood transfusion procedures, increase in awareness of continuous temperature monitoring, growth in constant innovations & technological developments and increase in number of various surgical procedures. However, lack of awareness on non-invasive & continuous monitoring in developing countries and high cost of advanced temperature monitoring devices in developing countries may impact the market. Moreover, increase in research & development (R&D) activities in the healthcare sector, growth in technological advancements, modernization in the healthcare sector and growth in emerging markets are key opportunities for market.
Based on geography, the North-American region holds major share in global temperature monitoring devices market owing to increase in prevalence of Covid-19 cases and presence of major players in the region. The European region holds second-largest position in global market due to increase in number of funding for clinical trials of digital thermometers in the region. The Asian-Pacific region is estimated to witness higher growth rate because of rise in awareness among population about various benefits of temperature monitoring devices during the Covid-19 pandemic over the forecast period. It is anticipated that the global temperature monitoring devices market will be reached at US $3.7 billion at a CAGR of 8.2% by 2023.
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Ankur Gupta, Head Marketing & Communications