The Global Market for Temperature Monitoring Devices is Projected to Reach US$1 Billion by 2020
Concerns Over New & Remerging Infectious Diseases Drives
Sales of Body Temperature Monitoring Devices, According to a New Report by Global Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report on Temperature Monitoring Devices.
The
global market for Temperature Monitoring Devices is projected to reach US$1 billion
by 2020, driven by the growing concerns over the spread of new and reemerging
infectious diseases and rising consumer awareness over the importance of body
temperature monitoring as an effective way to recognize infections prior to
clinical diagnosis.
Thermometers represent
an indispensable part of a physician’s basic armamentarium kit. The growing popularity
of self-help healthcare approaches is now making thermometers a necessity in home
first aid and emergency care kits. Body temperature is an important indicator
of physical well-being of a person and hence thermometers play a very vital and
basic role in early diagnosis of underlying infection. Sales of thermometers follow a seasonal pattern following the flu season
with demand spiking during pandemics such as H1N1, when consumer spending on
treatment and preventative products is the highest. With growing focus towards
self-care and preference for treatment at homes, basic medical devices to track
vital physical signs such as thermometers continue to remain in demand. Also
driving sales is the proactive healthcare care approach taken by modern medically
informed and aware consumers.
The growth in
the market is forecast to come from the increasing penetration of mercury-free
thermometers in developing markets. The market is also poised to benefit from technology
innovations aimed at developing superior products that offer convenience,
accuracy and faster measurement. Advancements in microelectronics are encouraging
the development of thermometers with smaller, miniaturized and sensitive
infrared sensors. Infrared thermometers are growing in popularity as a preferred
non-contact and temporal temperature monitoring alternative to conventional
tympanic thermometers. Use of non-contact
thermometers is expected to be driven by the growing focus on infection
control. With mounting concerns over the spread of Ebola outside Africa,
meticulous infection control measures undertaken by all regional governments to
curb the spread are pushing the demand for non-contact infrared thermometers. Disposable thermometers also stand to gain as
hospitals and other healthcare organizations mobilize resources to address
infection control issues.
Digital
Thermometers dominate the market, supported by technological advancements in clinical
thermometry. Digital thermometers are faster, economical, and are capable of
recording temperature with greater precision as compared to glass or mercury
thermometers. As stated by the new market research report on Body Temperature
Monitoring Devices, the United States represents the single largest market
worldwide. With a projected CAGR of 7.1%
over the analysis period, Asia-Pacific is forecast to emerge as the fastest
growing market, led by the expanding base of hospitals and clinics in countries
such as China and India and the growing need to replace the age-old mercury thermometers
with digital thermometers.
Major players covered
in the report include 3M Co., A&D Medical / LifeSource, American Diagnostic
Corporation, Briggs Healthcare, Covidien plc, Exergen Corporation, Geratherm
Medical AG, Hicks Thermometers (India) Limited, Kaz Incorporated, LCR Hallcrest
LLC, Omron Healthcare Inc., Opto Circuits (India) Limited and Terumo
Corporation, among others.
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