The medical thermometer market has evolved substantially over the years owing to increasing adoption of digital thermometers. Medical thermometers help measure the body temperature which is vital for assessing overall health and diagnosing illnesses. Digital thermometers offer accurate, convenient and faster temperature readings compared to traditional mercury thermometers. Rising prevalence of conditions like fever and infections has augmented the demand for medical thermometers from both households and healthcare facilities.
The Global Medical Thermometer Market is estimated to be valued at US$ 2.20 Bn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2031.
Medical thermometers find widespread usage across hospitals, clinics, diagnostics centers and households. They assist doctors in tracking temperature fluctuations indicating the progression of diseases. Digital thermometers provide ease of use, automated readings within seconds and storage of past temperature logs which aids longitudinal monitoring. Growing geriatric population prone to chronic illnesses and rising health awareness have raised the importance of self-monitoring body temperature on a regular basis using medical thermometers.
Key Takeaways
Key players operating in the medical thermometer market are Medline Industries, Inc., Welch Allyn, Medtronic, OMRON Corporation, America Diagnostics Corporation, 3M Company, Microlife Corporation, Briggs Healthcare, Exergen Corporation, Terumo Corporation, Medtronic PLC, Geratherm Medical AG, Exergen Corporation, A&D Company, Limited, BPL Medical Technologies, Rossmax International Ltd., and Radiant Innovation Inc.
The key opportunities in the market include growing demand for home healthcare devices, burgeoning online retail of medical devices and expanding healthcare infrastructure and diagnostics facilities across developing regions.
The Medical Thermometer Market Size is witnessing increased global expansion backed by rising penetration in Latin American and Asian countries. Leading players are focusing on strengthening their distribution networks and introducing affordable thermometer ranges to tap the high growth potential in emerging markets.
Market Drivers
The growing prevalence of fever, influenza and other infectious diseases has emerged as the major driver augmenting demand for medical thermometers. Fever continues to be one of the most common symptoms indicating underlying illness detected by monitoring body temperature changes. Rising health awareness levels and emphasis on preventive healthcare practices have further stimulated thermometer adoption for self-screening purposes.
PEST Analysis
Political: Medical thermometers are regulated under medical device regulations worldwide. Changes in regulations could impact demand.
Economic: Rising healthcare spending is expected to drive demand for medical thermometers as prevalence of fever and diseases increase. Economic downturns may negatively impact the market.
Social: Growing awareness about early detection and preventive healthcare is fueling adoption of medical thermometers. Increased spending on self monitoring devices also supports market growth.
Technological: Advancements in contactless temperature measurement and integration of technologies like infrared sensors are improving accuracy and convenience. Connected devices allow remote monitoring.
Geographical concentration
North America accounts for the largest share of the Medical Thermometer Market Regional Analysis in terms of value. Presence of major players, developed healthcare infrastructure and high healthcare spending drive high demand.
Fastest growing region
The Asia Pacific region is projected to witness the fastest growth during the forecast period. Rising disposable incomes, growing health awareness and expanding healthcare infrastructure in developing countries is expected to support market growth in the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn