Temperature Monitoring Systems Market
Number of pages: 98 | Report Format: PDF | Published date: October 17, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 2.09 billion |
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Revenue forecast in 2030 |
US$ 5.30 billion |
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Growth Rate |
CAGR of 10.90% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Segments covered |
Product, type, end-user, and region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Temperature monitoring systems are classified into digital temperature monitoring devices, which use infrared rays to check the temperature, and analog monitoring devices, using mercury to monitor the temperature. Fever stimulates the body's immune system, causing the production of white blood cells, antibodies, and platelets. High fevers that persist or worsen can lead to serious health complications such as febrile seizures, brain damage, and even death if left untreated.
Market Dynamics
The global temperature monitoring systems market revenue growth is driven by the growing pediatric and geriatric population, which are more vulnerable to diseases such as influenza, COVID-19, etc. Technological advancements, growing demand for temperature monitoring devices due to the COVID-19 pandemic, and the introduction of novel products contribute to the revenue growth of global temperature monitoring systems. Moreover, growing numbers of key players, increasing demand for home healthcare facilities, and developing healthcare infrastructure are boosting the revenue growth of the global temperature monitoring systems market. However, technical limitations of temperature systems and the high cost of devices are expected to hamper the market revenue growth to some extent.
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Market Ecosystem
The global temperature monitoring systems market is analyzed from four perspectives: product, type, end-user, and region.
Temperature Monitoring System Market by Product
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Based on the product, the global temperature monitoring systems market is segmented into digital and analog temperature monitoring devices.
The digital temperature monitoring device segment accounts for the largest revenue share in the global temperature monitoring systems market. The large revenue share of this segment is attributed to the increasing demand for digital thermometers due to the COVID-19 pandemic, technological advancements, and the introduction of novel devices. Additionally, the high adoption rate and introduction of novel products fuel the revenue growth rate of the global temperature monitoring systems market.
Temperature Monitoring System Market by Type
Based on type, the global temperature monitoring systems market is segmented into contact and non-contact.
The non-contact temperature monitoring device segment accounts for the largest revenue share in the market owing to technological advancement, increasing adoption of novel products, and the growing number of players in this space. Additionally, non-contact temperature devices increase the safety of medical practitioners and patients by avoiding direct contact with patients.
Temperature Monitoring System Market by End User
Based on end users, the global temperature monitoring systems market is segmented into healthcare facilities, home care settings, and others.
Healthcare facilities are leading the global temperature monitoring systems market in terms of revenue share owing to growing patient footfall, reducing prices, and increasing adoption of novel technologies.
Temperature Monitoring System Market by Region
Based on region, the global temperature monitoring systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global temperature monitoring systems market in terms of revenue share. The large revenue share of North America in the global market can be attributed to strict regulations, social norms, and increasing demand due to the COVID-19 pandemic. Additionally, developed infrastructure, high adoption of technology, and the presence of key players are contributing to the revenue growth of the North American temperature monitoring systems market.
The Asia Pacific is expected to register the highest revenue growth during the forecast period owing to the high prevalence of infectious diseases, increasing adoption of technologies, and growing awareness and disposable incomes.
Competitive Landscape
The prominent players operating in the global temperature monitoring systems market are:
Strategic Developments
North America and the Asia Pacific are the key revenue growth regions in the global temperature monitoring systems market.
Technological advancements, the introduction of novel products, and the increasing demand for temperature monitoring systems are driving the revenue growth of the global temperature monitoring systems market.
The global temperature monitoring systems market is expected to register a revenue CAGR of 10.90% during the forecast period.
The global temperature monitoring systems market size is expected to be US$ 5.30 billion in 2030.
3M Company, A&D Company Ltd., ABB Ltd., Braun Healthcare, Deltatrack, and Emerson Electric, are among the top players operating in the global temperature monitoring systems market.
*Insights on financial performance are subject to availability of the information in the public domain