The Global Patient Temperature Monitoring Market size was USD 3.89 billion in 2021 and it is expected to grow to USD 6.19 billion in 2030 with a CAGR of 6.23% in the 2022-2030 period.
Global Patient Temperature Monitoring Market: Overview
A patient Temperature Monitor is a device that is used to measure, record, and display body temperature. It is of immense use in clinical practices because it gives early warning signs regarding patients deteriorating health. So that the practitioner can take necessary corrective steps in treatment. The Body temperature is generally recorded in degree Fahrenheit or degree Celsius.
An Increase in awareness among the general public and the patient regarding monitoring systems, availability of the portable temperature monitoring devices, increase in number of contagious and infectious diseases, rising patient pool, rise in number of geriatric populations, advancement in technology regarding the temperature monitoring systems are some driving factors of the market. On the other hand, Contamination risk associated with the use of temperature monitors is a driving factor. Emerging economies offer growth opportunity for market players.
Key Insights
- As per the analysis done by our research analyst, the Global Patient Temperature Monitoring Market is estimated to grow with a CAGR 6.23% over the forecast period (2022-2030).
- In terms of revenue, the Global Patient Monitoring Market size was valued at USD 3.89 billion in 2022 and is estimated to grow to around USD 6.19 billion in 2030.
- Due to various driving factors, the Patient Monitoring Market is predicated to grow at significant rate. Growing prevalence of infectious diseases a leading cause.
- Based on the Product Segmentation, digital thermometers accounted for a major share and likely to continue the trend during the forecast period.
- Based on the Application Segmentation, Fever related temperature monitoring accounted a major share of the market.
- Based on the Type Analysis, non-invasive temperature monitors held the largest revenue share.
- Based on End-User analysis, the hospitals segment dominated the market share.
- By Regional Analysis, North America contributes major share in the market.
COVID-19 Impact:
COVID-19 has made a positive impact on Global Patient Temperature Monitoring Market. As the virus invasion was primarily diagnosed with a running nose and elevated body temperature coupled with fall in SPO2 levels. There was a huge demand across the world for Temperature monitoring systems. The COVID-19 pandemic created a surge in demand as well as increased consciousness regarding the bodily parameters monitoring such as temperature, pulse rate, and SPO2 levels using portable devices. Despite the lockdown, these were delivered to a great extent by the E-commerce companies. Also, primary screening of the masses was done using non-contact thermometer guns. So, the market experienced a high demand from household, clinics, hospitals, government departments etc.
Patient Monitoring Market: Key Drivers & Restraints:
Driving factors:
- Increased Awareness: Increased awareness about the timely measurement of some basic body parameters came with the advent of the COVID-19 pandemic. Though in developed nations, due to their high disposable incomes, people may have the habit of monitoring. But the COVID-19 pandemic has created self-consciousness among people. This created a huge demand for digital portable temperature monitoring devices worldwide.
- Increase in Technological Advancements: Due to increased demand, several manufacturers have developed portable devices with accurate and precise temperature readings. These devices are incorporated with advanced technologies to eliminate fluctuations in readings as well as error margins. The focus is also laid on making these devices user-friendly.
- Increased Patient Pool: Due to the increase in infectious diseases and the growing population, the increasing geriatric population, the demand for such digital portable temperature monitoring devices is rising. This serves as a driver for market growth.
Restraints:
- Limited Awareness: There is lesser awareness among the masses regarding the availability of these novel monitoring products along with the cost issue is a major restraint.
- Contamination Risk: In case of mercury thermometers, the risk of mercury poisoning cannot be underestimated.
Opportunities:
The increasing demand from emerging countries such as India, Brazil and Mexico offer opportunities for the key players in terms of agreements, acquisitions, and partnerships with local players.
Patient Temperature Monitoring Market Scope:
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Attribute
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Details
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Market Size in 2022
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USD 3.89 billion
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Estimated Market Size in 2030
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USD 6.19 billion
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CAGR Growth Rate
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6.23%
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Base Year
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2022
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Forecast Years
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2022-2030.
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Major Regions Covered
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- North America
- Europe
- Asia Pacific
- Latin America
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Companies Covered
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- 3M Company
- A&D Company Limited (A&D Medical)
- American Diagnostic Corporation
- Cardinal Health, Inc.
- Easywell Biomedicals, Inc.
- Helen of Troy Limited (Kaz USA Inc.)
- Hicks Thermometers India Limited
- Hill-Rom Holdings Inc. (Welch Allyn, Inc.)
- Midas Company Limited (Microlife Corporation)
- Omron Corporation
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Report Coverage
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Revenue Forecast, Company Share, Competitive Landscape, Growth Factors, Restraints, Opportunities, Value Chain Analysis, Porter’s Five Forces Analysis, Patent Analysis, Market Attractiveness Analysis
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Patient Temperature Monitoring Market: Segmentation
- Based on Products: Based on Products, the market is further segmented into wearable continuous, smart devices, handheld temperature monitoring devices, and other temperature monitoring devices. Of these the handheld temperature monitoring devices accounted a major share of the market.
- Based on Application: Based on application, the market is segmented into fever, anesthesia, and hypothermia. Among these, the fever applications dominated the market growth. This market segment is expected to maintain its dominant position over the projected period due to an increase in the number of people experiencing fever each year and the introduction of new products for patient temperature monitoring by market participants.
- By End User Analysis: The market is segmented into clinics, hospitals, Home Care and ambulatory care centres. Of these the Hospitals segment accounted a major growth of the market.
- By Type Analysis: The market is segmented into non-invasive like (axillary, oral, tympanic) and invasive. Of these non-invasive devices attributed a major share.
Regional Insights:
North America accounted for the highest share of the market. This is because of the growing number of infectious diseases coupled with the growing geriatric population. Europe adds significant growth to the market owing to a large amount of funding available for clinical trials of temperature monitoring systems. Asia Pacific registers the fastest growth due to increased population, increasing infectious diseases, and government spending on healthcare development. Latin America and Middle East & Africa account for a lower share in the temperature monitoring market, owing to a lower degree of adoption of these devices.
Competitive Analysis:
The Global Patient Temperature Monitoring market is driven by 3M Company, A&D Company Limited (A&D Medical), American Diagnostic Corporation, Cardinal Health, Inc., Easywell Biomedicals, Inc., Helen of Troy Limited (Kaz USA Inc.), Hicks Thermometers India Limited, Hill-Rom Holdings Inc. (Welch Allyn, Inc.), Midas Company Limited (Microlife Corporation), Omron Corporation.
Recent Developments:
- May 2020: Neptune Wellness Solutions announced the launch of a non-contact infrared thermometer, called Neptune Air.
- May 2020: ZOOOK announced the launch of infra-temp contact less medical-grade thermometer.
Patient Temperature Monitoring Market Segment as follows:
By Product Types
- Smart Temperature Monitoring Patches
- Wearable Continuous Monitoring Sensors
- Handheld Temperature Monitoring Devices
- Mercury Thermometers
- Digital Thermometer
- Infrared Thermometer
By Type
- Non- Invasive Temperature Monitoring
- Tympanic Membrane Temperature Monitoring
- Oral Temperature Monitoring
- Axillary and Temporal Artery Temperature Monitoring
- Nasopharynx Temperature Monitoring
- Urinary Bladder Temperature Monitoring
- Rectal Temperature Monitoring
- Esophageal Temperature Monitoring
By Application
- Fever
- Anesthesia
- Hypothermia
- Others
By End User
- Clinics
- Hospitals
- Home Care
- Ambulatory Care Centres
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- the Middle East & Africa
Frequently Asked Questions (FAQs):
Which is the leading segment in the market?
Among Product types, digital portable thermometers are leading segment.
What are the key factors driving the market?
Growing number of chronic diseases coupled with the increase in number of patient pool.
Which region will contribute notably towards the Patient Temperature Monitoring Market growth?
North America contributes notably towards the Patient Temperature Monitoring Market.
What are the key players in Patient Temperature Monitoring Market?
3M Company, A&D Company Limited (A&D Medical), American Diagnostic Corporation, Cardinal Health, Inc., Easywell Biomedicals, Inc., Helen of Troy Limited (Kaz USA Inc.), Hicks Thermometers India Limited, Hill-Rom Holdings Inc. (Welch Allyn, Inc.), Midas Company Limited (Microlife Corporation), Omron Corporation