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Temperature Monitoring System Market Size, Share & Industry Analysis, By Product (Analog Temperature Monitoring Devices and Digital Temperature Monitoring Devices), By Type (Contact & Non-Contact), By End-user (Healthcare Facilities, Home Care Settings, and Others), and Regional Forecast, 2024-2032

Last Updated: June 03, 2024 | Format: PDF | Report ID: FBI102013

 

KEY MARKET INSIGHTS

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The global temperature monitoring system market size was USD 2.82 billion in 2023. The market is projected to grow from USD 3.20 billion in 2024 to USD 9.58 billion by 2032 at a CAGR of 14.7% during the forecast period.


A body temperature monitor is a medical device intended for checking and monitoring body temperature for adults and children aged two and above. Various forms of thermometers are used to monitor vital signs that include body temperature. Technological advancements in thermometers are expected to propel the growth of the temperature management market during the forecast period. Previously, thermometers were mainly controlled via manual measures, but temperature monitoring devices are more precise and easier to use with digital technology. Integration of artificial intelligence, cloud platforms, and digitalization has also revolutionized the field of temperature monitoring in recent years. Also, the usage of remote temperature monitoring devices has been witnessing a greater adoption in the past few years.


The COVID-19 pandemic positively impacted market growth during the pandemic. With the increasing cases of COVID-19 across the globe, temperature monitoring systems witnessed a robust surge in demand. The growing adoption of these products for time-to-time patient temperature management had majorly boosted the demand for these products.  Moreover, the increasing number of product launches further supported the market growth.



  • For instance, in May 2020, DetelPro announced the launch of an infrared thermometer in India. The thermometer is a digital monitoring system and helps to record temperature from a distance of 3-5 cm with an aim to avoid cross-infection.


However, with the lowering cases of COVID-19, the market witnessed a slower growth in 2022, and 2023, and is expected to witness a steady growth over the forecast period.


Temperature Monitoring System Market Trends


Increasing Demand for Non-Contact Sensor Based Thermometers to Drive Growth


The COVID-19 pandemic drastically changed the landscape of temperature monitoring devices with the very high demand for non-contact sensor-based thermometers to contain the spread of the virus. This was majorly due to the various advantages offered by these devices over others. Infrared sensors-based thermometers facilitate precise non-contact temperature measurement in healthcare applications. The primary form of applications for this type of thermometer includes measuring forehead temperature, ear temperature, or skin temperature. The temperature detecting element comprises numerous thermocouples on a silicon chip to measure an object's infrared energy.  Moreover, high incidence of Covid-19, along with social distancing norms boosted the use of these devices. This factor has led to a surge in demand for non-contact infrared sensor-based thermometers across the globe. Thus, to meet the potential demand for thermometers, several companies opt for inorganic strategic partnerships to manufacture digital infrared thermometers. For instance, in April 2020, Shoppemex announced its latest product launch, an infrared digital thermometer that can deliver ultra-fast body and surface temperature readings without contact.


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Temperature Monitoring System Market Growth Factors


Increasing Technological Advancements in Temperature Monitoring Devices to Propel Market Growth


Increasing demand for temperature monitoring systems across the globe, especially during the Covid-19 pandemic, has augmented the growth of this market. Several companies have manufactured digital thermometers for precise and accurate body temperature measurements due to the growing demand for such devices. These devices are incorporated with novel technologies to eliminate fluctuated readings and minimize errors coupled with better user handling facilities. Such developments are projected to hike the thermometers market during the forecast period. For instance, in January 2021, Fitgo announced the launch of a new infrared thermometer in India and other countries. The device can be used for elders, infants and adults also.


Launch of Cutting-edge Temperature Monitoring Products to Bolster Market Development


With the high demand for thermometers, manufacturing companies are shifting their focus to the integration of advanced technologies and novel features in their products. The introduction of novel temperature monitoring products is expected to have a significant impact on the healthcare industry. Several advantages associated with these innovative products also support their increasing adoption. Some of these advantages include reduced response times, ease of usage, continuous monitoring, and others. For instance, in May 2020, French brand ZOOOK, a pioneer in innovative consumer technology products, announced the launch of a contactless thermometer developed as per the requirements in the wake of COVID-19. These factors may drive the temperature monitoring system market growth.


RESTRAINING FACTORS


High Contamination Risks Associated with Mercury-based Thermometers May Limit Growth


Despite the high demand for thermometers globally, certain factors are limiting the temperature management market growth. Among them is the risk of mercury poisoning from mercury-based thermometers.  The silver ball in the thermometer is very toxic to humans if the glass of the device breaks or is not cleaned correctly. Therefore, due to the high risk associated with the contact thermometers, individuals are less likely to adopt the contact thermometers, resulting in market growth limitations.


Temperature Monitoring System Market Segmentation Analysis


By Product Analysis


Digital Temperature Monitoring Devices Segment to Grow at Faster Pace


Based on product, the market is divided into digital temperature monitoring devices and analog temperature monitoring devices.


The digital temperature monitoring devices segment marked the leading position in 2023. The strong position of the market segment is attributed to timely product approvals, along with the easy availability of technologically advanced products. Moreover, the surge in demand for devices amid the pandemic led to increased sales volume of the digital systems due to social-distance guidelines implemented to lower infection rates. Analog temperature monitoring devices are expected to grow and to witness slower growth than digital devices due to the shift of individuals toward the adoption of digital systems.


Additionally, the digital thermometer is anticipated to remain dominant during the forecast period registering a higher CAGR. For instance, in June 2020, DetelPro announced the launch of its digital thermometer. The company has launched this product to accelerate the penetration of digital thermometers to every household amid the pandemic.


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By Type Analysis


Non-Contact Thermometers to Show High CAGR Backed by Rising Partnerships


By type, the market is classified into contact and non-contact thermometers.


The non-contact thermometer segment dominated the market in 2023 and is expected to showcase a lucrative growth rate during the forecast period. This factor is due to the increasing number of partnerships among various companies to manufacture such devices. For instance, in May 2020, Segun Life, a well-known brand in healthcare devices and wearables, partnered with TCL to launch infrared digital thermometers to aid the battle against COVID-19 in India.


The contact-based thermometer segment is anticipated to exhibit significant growth across the forecast period, majorly due to the increasing prevalence of COVID-19 cases, leading to strict social distancing and home quarantine measures. Therefore, adopting thermometers for timely monitoring of the body temperature is likely to contribute to the segment's growth.


By End-user Analysis


Healthcare Facilities Segment to Show High CAGR Backed by Growing Adoption


The healthcare facilities segment is expected to showcase a stellar growth rate during the forecast period owing to the growing adoption of the thermometers with an aim to maximize patient care. For instance, due to the sudden emergence of COVID-19 infection in March 2020, demand for infrared thermometers peaked. Also, increasing patient visit in the hospital settings is likely to boost the growth of the segment in the forecasted timeframe.


The home care settings segment is anticipated to exhibit significant growth during the forecast period owing to the increased usage of thermometers by the individual user for personal use. Furthermore, the growing geriatric population requiring healthcare at home also supports the segment growth.


REGIONAL INSIGHTS


North America Temperature Monitoring System Market Size, 2023 (USD Billion)

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The market size in North America stood at USD 1.35 billion in 2023. The dominance of the region is attributable to the increasing prevalence of infectious diseases, such as COVID-19, influenza and others, thereby boosting the adoption of temperature monitoring systems. For instance, according to Centers for Disease Control and Prevention (CDC), in July 2020, around 3.8 million confirmed cases of COVID-19 were reported in the United States Moreover, the presence of key players operating in the region will further boost temperature monitoring system sales. The market in Europe is anticipated to witness considerable growth owing to an increase in funding for clinical trials of digital thermometers.


The market in the Asia Pacific is likely to witness a higher CAGR owing to the increasing awareness among the population pertaining to temperature management during the coronavirus pandemic coupled with the penetration of companies to fulfill the unmet needs of the market. For instance, in June 2020, Secureye launched a non-contact thermometer under its MediSec product range in India.


Latin America and the Middle East & Africa are anticipated to account for a lower temperature monitoring system market share, owing to comparatively lower adoption of the devices.  


List of Key Companies in Temperature Monitoring System Market


Launch of Devices by Prominent Players to Maximize Product Offerings


The market structure is fragmented due to the strong product portfolio of temperature monitoring system manufacturers and the remarkable distribution network of major companies in developed and emerging economies. Moreover, multiple companies are focusing on the launch of non-contact thermometers have increased exponentially during the pandemic resulting in the availability of a number of brands. This factor led to an increase in the adoption of temperature monitoring system by the population, thereby contributing to revenue growth of companies. Thus, focusing on the launch of advanced temperature monitoring devices is the strategy adopted by the key players.


LIST OF KEY COMPANIES PROFILED:



  • Koninklijke Philips N.V. (Netherlands)

  • Masimo (U.S.)

  • Omron Healthcare (Japan)

  • Geratherm (Germany)

  • Braun Healthcare (Germany)

  • A&D Company Ltd. (Japan)

  • Toshiba Inc. (Japan)

  • 3M (U.S.)

  • Exergen Corporation (U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • September 2023 – Metropolitan Wireless International introduced the temperature monitoring wireless sensors in the Indian market. 

  • August 2023 - E+E Elektronik launched HTS801 – a high-sensitivity humidity and temperature sensor.

  • May 2020 – Neptune Wellness Solutions Inc. announced the launch of Neptune Air, a non-contact infrared thermometer (NCIT).  

  • May 2020 – ZOOOK announced the launch of the infra-temp contactless medical-grade thermometer.


REPORT COVERAGE


An Infographic Representation of Temperature Monitoring Systems Market

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The research report offers a detailed or in depth analysis of this market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the market's growth in recent years.


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Report Scope & Segmentation



















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 14.7% from 2024-2032



Unit



Value (USD billion)



Segmentation



By Product



  • Digital Temperature Monitoring Devices

  • Analog Temperature Monitoring Devices



By Type



  • Contact

  • Non-Contact



By End-user



  • Healthcare Facilities

  • Home Care Settings

  • Others



By Geography



  • North America


    • U.S.

    • Canada


  • Europe


    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe


  • Asia Pacific


    • Japan

    • China

    • India

    • Australia

    • Rest of Asia Pacific


  • Latin America


    • Brazil

    • Mexico

    • Rest of Latin America


  • Middle East & Africa


    • South Africa

    • GCC

    • Rest of Middle East & Africa







Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 2.82 billion in 2023 and is projected to reach USD 9.58 billion by 2032.

In 2023, the North American market value stood at USD 1.35 billion.

Growing at a CAGR of 14.7%, the market will exhibit steady growth during the forecast period (2024-2032).

The digital temperature monitoring devices segment is expected to be the leading segment in this market during the forecast period.

The increasing number of COVID-19 cases across the globe is driving the growth of the market.

The global market value in 2023 was USD 2.82 billion.

North America dominated the market share in 2023.

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