The global patient temperature monitoring market currently accounts for a worth of US$ 5.6 billion and is predicted to reach US$ 8.2 billion by the end of 2026. Global demand for patient temperature monitoring systems is anticipated to expand at a fantastic CAGR of 10% from 2022 to 2026.
Due to its practical, accurate, and simple temperature monitoring characteristics, sales of handheld patient temperature monitoring devices are anticipated to increase at a faster 13% CAGR over the projection period.
Why is Demand for Patient Temperature Monitoring Devices Surging across the World?
Changes in a patient’s body temperature are a result of circumstances specific to that patient’s condition. In order to maintain natural defences, the human body regulates its interior temperature. Other clinical signs such as hypothermia or hyperthermia, the presence of an infection, and the analysis of antimicrobial drugs serve to emphasise the importance of continuing temperature monitoring. During the forecast period, it is projected that these benefits would accelerate the adoption of thermometers.
Due to the increased demand for such devices, many manufacturers have developed digital thermometers for precise body temperature measurements. These gadgets also feature cutting-edge technology to stop fluctuating readings, reduce errors, and enhance user handling capabilities. The market for patient monitoring systems is expanding as a result of these developments.
A digital thermometer is a battery-powered thermometer equipped with temperature sensors and a digital display. Medical experts use these thermometers because of their accuracy, practicality, and interesting displays.
Additionally, there are benefits to using a digital thermometer, such as portability, ease of use, thorough analysis, quick findings, increased accuracy, and a lower danger of mercury poisoning. Moreover, digital thermometers come in a range of styles, including digital ear, digital forehead, and digital armpit thermometers.
Why is North America Expected to Garner the Largest Market Share?
The market for patient temperature monitoring is dominated by North America. Increased financing for clinical trials with digital thermometers is expected to result in a major expansion in the market in North America.
The factors driving the market expansion in North America include increasing awareness of the use of patient temperature monitoring devices, an increase in surgical procedures, a rise in the demand for technologically advanced patient monitoring devices, and an increase in blood donation and transfusion.
The prevalence of diabetes and cancer, ongoing research into patient monitoring technology, and the widespread usage of wireless temperature monitoring devices are all contributing to the growth of the U.S. industry.
The U.S. market is growing as a result of stringent regulatory requirements for drug development, the significant presence of companies that make patient temperature monitoring devices, growing public awareness of health issues, and an ageing population.
- Beurer GmbH
- Briggs Healthcare
- Masimo Corporation
- Medtronic plc
- Microlife Corporation
- Omron Healthcare, Inc.
- Actherm Medical Crop.
- American Diagnostic Corporation
- Becton, Dickinson and Company
- Cardinal Health, Inc.
- Cosinuss GmbH
- Helen of Troy Limited