Patient Temperature Management Market Size to Touch USD 6.19 Bn By 2030

The Global Patient Temperature Monitoring Market is projected to reach USD 6.19 Billion by 2030, from USD 3.89 Billion in 2021 and is projected to garner growth at a CAGR of 6.23% between 2022 and 2030

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The rise in temperature, which is a frequently observed signal during viral infection or many other significant health diseases, is crucial to making a diagnosis of sickness. The market for patient temperature monitoring is being driven by two factors: an increase in the prevalence of infectious and chronic illnesses and rising public awareness of the need for temperature monitoring. The rise of the industry is also expected to be fueled in the coming years by an increase in technology and distribution partnerships.

The high costs of advanced temperature monitoring systems in emerging markets are impeding the market's progress. Market participants have lucrative business opportunities due to the rising infrastructure of the healthcare industry and the integration of cutting-edge technology platforms into procedures for temperature monitoring. A patient's condition-specific conditions are because of temperature changes in that patient. The body controls its internal temperature to maintain its natural defenses. The significance of ongoing temperature monitoring is further emphasized by additional clinical indicators like hyperthermia or hypothermia, the presence of an infection, and the analysis of antimicrobial medications. Throughout the projection period, these advantages are anticipated to hasten the usage of thermometers.

Growth factors

Increasing demand for thermometers with non-contact sensors

The development of new technologies, such as the Bluetooth non-contact infrared thermometer, is one of the primary factors driving market expansion. The market is anticipated to increase as a result of many industry players releasing Bluetooth non-contact infrared thermometers. The business created an affordable, high-functioning wall mount for a non-contact infrared thermometer. Therefore, it is projected that this trend will favor the patient temperature monitoring market during the course of the projection year.

The expanded availability of integrated monitoring technology like smartphones and linked networks is a key factor promoting growth. As a result, portable personal digital assistant (PDA) systems, wireless hospital outpatient EEG recorders, remote monitoring systems, portable cardiac telemetry devices, and hospital outpatient event monitors have all been developed. The market's growth is predicted to be fueled by an increase in the number of patient temperature monitoring products launched by industry players.

Opportunities for growth in developing markets –

 It is projected that businesses in the patient temperature monitoring market will have several growth opportunities in emerging markets in countries like India, Brazil, and Mexico. To meet the increased need for temperature monitoring in developing nations, several manufacturers are focusing on different acquisitions and partnerships with local businesses for product distribution and manufacturing. Additionally, the increased rivalry in developed nations will drive businesses to focus more on the Asia Pacific and American emerging markets.

The pandemic of COVID-19 will spread more widely –

The sneaky new coronavirus illness (COVID-19) pandemic, which has claimed hundreds of thousands of lives and left behind much misery, has had a significant impact on the whole world. To promptly check patients for elevated body temperatures as a common means of prevention, temperature checks have grown in popularity (i.e., fever). To combat the spread of SARS-CoV-2, various sizable infrared fever screening systems, no-contact temperature screening at building and hospital entryways, and wearable devices that continuously monitor individual temperatures have all been deployed.

Challenges

Lack of awareness about non-invasive and constant temperature monitoring devices 

The main obstacles to their uptake are a lack of understanding among doctors and other healthcare professionals of the manufacturer's advancements and a lack of qualified workers who can handle and operate these devices.

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Report Highlights                        

Based on Products: Based on Products, the handheld temperature monitoring devices segment has accounted for over 36% revenue share in 2021. the digital temperature monitoring devices is in the major sub segment in handheld.

Based on Application: Based on application the fever segment accounted for the highest market share in 2021. This segment is likely to maintain its leading position during the estimated period due to the rising number of people who experience pyrexia/fever each year and innovative devices for patient temperature monitoring by industry participants.

By End User Analysis: hospitals held the largest, more than 45% market share for the End User segment, in 2021.

By Type Analysis: non-invasive temperature monitoring segment generated largest revenue share in 2021 and is projected to have a profitable growth rate During the forecast period. 

Regional Insights:

The Patient Temperature Monitoring Market can be differentiated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The North American market accounts for approximately 35% of the industry share and is quickly expanding as a result of the rising number of clinical trials certifying patient monitoring devices, increasing healthcare expenditure in the U.S. and the rising number of patient monitoring approvals. the APAC region will see significant market expansion due to increased demand from India and China due to rising healthcare costs, the prevalence of infectious diseases, the growing geriatric population, and favorable governmental and private contributions to the overall healthcare infrastructure.

Recent Developments

• TcoreTM, developed by Drager, is a revolutionary dual-sensor heat flux system that rapidly ramps up, continuously measures core body temperature, and is very accurate. A simple, self-adhesive sensor placed on the patient's forehead is all that is required.
• The U.S. Food and Drug Administration (FDA) granted 510(k) approval for Biobeat's wearable remote patient monitoring device to measure body temperature on March 28, 2022, according to the firm that provides wearable remote monitoring solutions.
• The S-CATH M Esophageal Temperature Probe from the medical device manufacturer CIRCA Scientific, Inc. was agreed for sale in the United States by the U.S. Food and Drug Administration as of March 3, 2022.

List of Key Players in the Global Patient temperature management 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

Global Patient Temperature Management 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

• Invasive

• 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

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