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Temperature Monitoring System Market Size, Share & COVID-19 Impact Analysis, By Product (Analog Temperature Monitoring Devices & Digital Temperature Monitoring Devices), By Type (Contact & Non-Contact) By End User (Healthcare Facilities, Home Care Settings, and Others), and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI102013

 

KEY MARKET INSIGHTS

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The global temperature monitoring system market size was valued at USD 1.14 billion in 2019 and is projected to reach USD 3.00 billion by 2027, exhibiting a CAGR of 11.2% during the forecast period. 


A body temperature monitor is a medical device intended for checking and monitoring body temperature for adults and children aged 2 and above. Various forms of thermometers are used for the monitoring of vital signs that include body temperature. Technological advancements in thermometers are expected to strongly propel this market growth over the forecast period. Previously, thermometers used were mostly controlled via manual measures, but with the incorporation of digital technology the temperature monitoring devices are more precise and easy to use. Also, with increasing incidence of Covid-19 across the globe, these devices are witnessing a robust surge in their demand. With the increasing demand for digital thermometers, the market is forecasted to experience a lucrative growth rate across the analysis period.


An Infographic Representation of Temperature Monitoring Systems Market

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COVID-19 Pandemic to Surge Demand for Temperature Monitoring System to Control Spread of Infection


The COVID-19 pandemic is expected to have a positive impact on the thermometers market growth during the forecast period. This is due to the significant rise in demand for temperature monitoring systems across the globe. Moreover, the increasing number of product launches will further support market growth.



  • For instance, in April 2020, Pune-based CSIR-National Chemical Laboratory developed and designed a digital Infra-Red thermometer for coronavirus infected patients. NCL partnered up with Bharat Electronics Ltd. to manufacture the thermometer which can help mitigate the coronavirus outbreak.


Moreover, increasing initiatives from various private and public organizations to control the spread of the disease will further support market growth.



  • For instance, in March 2020, the U.S. Food and Drug Administration (FDA) issued a new guideline that allows the producers of certain temperature monitoring systems to increase their production so that the medical professionals can use them to monitor patients remotely. These include devices that measure body temperature, respiratory rate, and other vital signs.


LATEST TRENDS


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


Infrared sensors-based thermometers facilitate precise non-contact temperature measurement in healthcare applications. The primary form of applications for this type of thermometers includes measuring forehead temperature, ear temperature, or skin temperature. The temperature detecting element is made of numerous thermocouples on a silicon chip to measure an object's infrared energy.  Moreover, with the increasing cases of Covid-19, social distancing norms are strictly followed in several organizations and even in various residential societies. This has led to a surge in demand for non-contact infrared sensor-based thermometers across the globe. Hence, to meet the potential demand for thermometers, several companies are opting inorganic strategic partnerships to manufacture digital infrared thermometers. For instance, in April 2020, Shoppemex announced the launch of its latest product, which is an infrared digital thermometer that can deliver ultra-fast body and surface temperature readings without contact.


DRIVING FACTORS


Increasing Technological Advancements Associated with Temperature Monitoring Devices to Propel Market Growth


Increasing demand for temperature monitoring devices across the globe especially during the Covid-19 pandemic has augmented the growth of this market. Owing to growing demand for such devices, several companies have manufactured digital thermometers for precise and accurate body temperature measurement. 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 February 2020, Xiaomi announced the launch of a new non-contact infrared thermometer. The device can take the temperature reading in just one second with a measuring accuracy of 0.2 degrees.


Launch of Several Temperature Monitoring Products to Propel Market Growth


The introduction of novel temperature monitoring products is expected to have a huge impact on the healthcare industry. For instance, in May 2020, French brand ZOOOK, a pioneer in innovative consumer technology products, announced the launch of a contact-less thermometer developed in accordance with the requirements in the wake of Covid-19.  


RESTRAINING FACTORS


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


Despite the high prevalence of chronic lifestyle-related disorders globally, certain factors driving are limiting the temperature monitoring system market growth. Among them is the risk of contamination from mercury based thermometers will significantly limit market growth. 


SEGMENTATION


By Product Analysis


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Digital Temperature Monitoring Devices Segment to Grow at Faster Pace


On the basis of product, the thermometers market includes digital temperature monitoring devices and analog temperature monitoring devices. The digital segment held a dominant share of the market in 2019. The dominance is owing to the growing approval of products to fulfill the rising demand for such systems during the COVID-19 pandemic, along with their high efficiency in exudate monitoring of body temperature.  


The analog segment is projected to register a higher CAGR by 2027 owing to the increasing manufacturing of such products. For instance, in June 2020, DetelPro announced the launch of its digital thermometer. The company has launched this product with the objective of accelerating the penetration of digital thermometers to each and every household amid the pandemic situation.


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 market segment is expected to showcase lucrative growth rate during the forecast period. This 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, has 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 lucrative growth across the forecast period majorly due to the increasing prevalence of COVID-19 cases that has led to strict social distancing and home quarantine measures.


By End User Analysis


Healthcare Facilities Segment to Show High CAGR Backed by Rising Partnerships


By end user, the temperature monitoring systems market is classified into healthcare facilities, home care settings and others. The healthcare facilities segment is expected to showcase lucrative growth rate during the forecast period in the thermometers market. This is due to the increasing number of partnerships among hospitals and medical devices manufacturers. For instance, BioIntelliSense, a company manufacturing sensors that can monitor patient vitals, initiated a partnership with Colorado health system UCHealth. The company’s sensor will be used for postoperative and preoperative care, as well as for caring for patients with chronic ailments.


The homecare settings segment is anticipated to exhibit lucrative growth during the forecast period majorly on account of increasing prevalence of COVID-19 cases that forced people to socially distance themselves and self-quarantine, if they display any symptoms.


REGIONAL INSIGHTS


North America Temperature Monitoring System Market Size, 2019 (USD Million)

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The market size in North America stood at USD 558.1 million in 2019. The region’s dominance on the temperature monitoring system market share is attributable to the increasing prevalence of Covid-19 cases across the region. For instance, according to a study published by Centers for Disease Control and Prevention (CDC), in July 2020, around 3.8 million confirmed cases of Covid-19 have been reported in the U.S. Moreover, presence of major players operating in the region will further boost product sales. The market in Europe is anticipated to witness considerable growth, owing to increase in number funding for clinical trials of digital thermometers.


The market in Asia Pacific is expected to grow at a significant CAGR owing to the rising awareness among the population about several benefits of temperature monitoring systems during the coronavirus pandemic combined with the increasing number of companies entering the Asian market.


Latin America & the Middle East & Africa accounted for a comparatively lower share of the global market owing to the presence of a huge underpenetrated market.  


KEY INDUSTRY PLAYERS


Omron to Lead Fueled by Increasing Product Launches


The structure of this market is consolidated in nature owing to the strong product portfolio of temperature monitoring systems manufacturers and remarkable distribution network of major companies in the developed and emerging economies. Currently, Omron Healthcare is leading the market, accounting for a dominant share in 2019. The other key players in this market include Masimo, Braun Healthcare, Geratherm 3M, and others. 


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.)

  • Other Players


KEY INDUSTRY DEVELOPMENTS:



  • June 2021 - Masimo, a medical technology company made an announcement that company has received FDA 510(k) clearance for its Radius T thermometer for prescription and over-the-counter (OTC) use in hospital and at home. It is wearable and wireless thermometer that measures body temperature continuously.

  • May 2021 – The Indian Institute of technology (IIT) Ropar has developed AmbiTag, a device which records the temperature at the time of transportation of vaccines and blood. It is a USB shaped device that continuously measures the temperature of its instant surroundings on a single charge.

  • March 2021 - Masimo made an announcement that the company has received the CE marking for Rad-G with Temperature, a device that provides real-time forehead temperature measurement. It provides both spot-check measurement and continuous monitoring.

  • December 2020 -Exergen Corporation, a worldwide leader in infrared temperature measurement technologies for industrial application entered into a definitive agreement with Galmedica for the distribution of non-invasive high-tech thermometers to be used in hospitals and healthcare Institutions.


REPORT COVERAGE


The temperature monitoring system market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments.


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Report Scope & Segmentation











































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



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 (the U.S. and Canada)

  • Europe (the U.K., Germany, France, Italy, Spain, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, and Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • The Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)



Frequently Asked Questions

Fortune Business Insights says that the global temperature monitoring system market size was USD 1.14 billion in 2019 and is projected to reach USD 3.00 billion by 2027.

In 2019, the North America market value stood at USD 558.1 million.

Growing at a CAGR of 11.2%, the market will exhibit steady growth in the forecast period (2020-2027).

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.

Omron Healthcare is the major player in the global market.

North America dominated the market in terms of share in 2019.

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Temperature Monitoring Systems Market Size, Share and Global Industry Trend Forecast till 2026
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