According to a market research study published by Contrive Datum Insights, Asia-Pacific market is anticipated to have the highest (CAGR) over the projection period, The existence of several industrial facilities in North America contributes to the sector’s revenue growth
Farmington, Jan. 31, 2023 (GLOBE NEWSWIRE) — The global Patient Temperature Monitoring Market size was estimated at USD 3.9 Billion in 2022 and is expected to hit around USD 6.8 Billion by 2030, anticipated to grow at a CAGR of 6.37% from 2023 to 2030. Doctors can determine acute diseases, inflammation, infections, and immune system response by measuring a patient’s temperature. It also helps determine the nature of the issue and the efficacy of the treatment. Various non-invasive techniques and instruments are utilised to examine the mouth, ear, armpit, rectum, and forehead, among other body parts. In contrast, readings of a patient’s core temperature are typically obtained via invasive devices such as thermometers, probes, and electronic tablets.
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Also, states and municipalities in numerous regions and nations are implementing reopening plans. Due to this, the need for non-contact temperature assessment devices, which are used to check the temperature of different rooms without touching them, is increasing. These gadgets are utilised at schools, colleges, offices, shopping centres, supermarkets, restaurants, metro stations, and other public locations.
Patient Temperature Monitoring Market Recent Developments:
- October, 2020, greenTEG, a medical technology company, received a waiver status to sell its COREmedical under the Emergency Use Authorization (EUA), a policy which limits pre-market requirements for selected low risk devices, which were developed to aid the global battle against the Covid-19 virus. Moreover, COREmedical is for routine medical temperature screenings such as those conducted prior to admission in the hospital and intensive care unit.
- April, 2020, Aranet, a technology company, launched new medical grade thermometer for hospitals globally battling COVID-19.
- In September 2022, Signant Health debuted its cloud-based Temperatures Excursion Management (TEM) solution within its range of clinical supply chain management solutions.
Patient Temperature Monitoring Market Segmentation Analysis:
The market for patient temperature monitoring consists of temperature monitoring equipment, handheld temperature monitoring devices, and invasive temperature monitoring devices. Table top temperature monitoring devices are additionally designated as non-invasive vital signs monitoring equipment.
Based on location, the market is divided into non-invasive and invasive temperature monitoring. Oral temperature monitoring, axillary and temporal artery temperature monitoring, and tympanic membrane temperature monitoring are subgroups of non-invasive temperature monitoring.
According to application, the market is segmented into pyrexia/fever, hypothermia, blood transfusion, anaesthesia, and others. By end-user, the market is segmented into hospitals and clinics, nursing homes, home care, ambulatory care centres, and others.
Regional Outlook:
In addition, the availability of cutting-edge medical facilities in hospitals and ambulatory surgical centres (ASCs) as well as government regulations that encourage the research and development of innovative monitoring technologies are anticipated to provide a major market boost. The existence of several industrial facilities in North America contributes to the sector’s revenue growth.
In addition, the Asia-Pacific market is anticipated to have the highest (CAGR) over the projection period. This growth will be driven by factors such as rising healthcare costs, the prevalence of infectious diseases, an ageing population, and the positive contributions of both the public and private sectors to the total healthcare infrastructure. The expansion of ambulatory surgery centres and the infrastructure of hospitals in the Asia-Pacific region are two additional factors anticipated to drive the market for patient monitoring devices.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 8.6% from 2023 to 2030 |
| Market Size in 2022 | USD 3.9 Billion |
| Revenue Forecast by 2030 | USD 6.8 Billion |
| By Product | Wearable Continuous Monitoring Sensors, Smart Temperature Monitoring Patches, Table-Top Temperature Monitoring Devices, Handheld Temperature Monitoring Devices, Invasive Temperature Monitoring Devices |
| By Site | Non-invasive Temperature Monitoring, (Oral Temperature Monitoring, Axillary & Temporal Artery Temperature Monitoring, Tympanic Membrane Temperature Monitoring), Invasive Temperature Monitoring, (Esophageal Temperature Monitoring, Nasopharynx Temperature Monitoring, Urinary Bladder Temperature Monitoring, Rectal Temperature Monitoring) |
| By Applications | Anesthesia, Hypothermia, Blood Transfusion, Pyrexia/Fever, Others |
| By End User | Hospitals & Clinics, Nursing Facilities, Home Care, Ambulatory Care Centers, Others |
| By Companies | Masimo, Microlife, Koninklijke Philips N.V., Terumo Corporation, Microlife Corporation, 3M, American Diagnostic Corporation, Braun (Subsidiary of Procter & Gamble), Cardinal Health, Drägerwerk AG & Co. KGaA, Hill-Rom Holdings, Others, and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
Each year, around 1% of the world’s population is added. There is a correlation between population expansion and an exponential increase in the number of people living in a region, which facilitates the spread of infectious illnesses and viruses. SARS-COVID, tuberculosis (TB), malaria, pneumonia, dengue, HIV, and whooping cough will be the most prevalent infectious diseases and viruses in the world in 2021. It is anticipated that the prevalence of these diseases and viruses would increase globally. Children and the elderly are more likely than others to get these diseases.
Market Restraints:
The lack of awareness among physicians and other healthcare professionals about innovations integrated by manufacturers, as well as a shortage of educated and experienced employees who can successfully handle and process these devices, are the primary obstacles to their widespread use.
Market Opportunity:
Emerging economies such as India, Brazil, and Mexico are anticipated to offer large potential prospects to market participants in the patient temperature monitoring industry. To fulfil the increased need for temperature monitoring in developing nations, a number of manufacturers are emphasising strategic acquisitions and agreements/partnerships with regional/domestic firms for product distribution and manufacturing.
Patient Temperature Monitoring Market Key Segments Covered:
Top Market Players:
Masimo, Microlife, Koninklijke Philips N.V., Terumo Corporation, Microlife Corporation, 3M, American Diagnostic Corporation, Braun (Subsidiary of Procter & Gamble), Cardinal Health, Drägerwerk AG & Co. KGaA, Hill-Rom Holdings, Others, and Others.
By Product
- Wearable Continuous Monitoring Sensors
- Smart Temperature Monitoring Patches
- Table-Top Temperature Monitoring Devices
- Non-invasive Vital Signs Monitoring Devices
- Continuous Core Body Temperature Monitoring Devices
- Handheld Temperature Monitoring Devices
- Mercury Thermometers
- Digital Thermometers
- Infrared Thermometers
- Invasive Temperature Monitoring Devices
By Site
- Non-invasive Temperature Monitoring
- Oral Temperature Monitoring
- Axillary & Temporal Artery Temperature Monitoring
- Tympanic Membrane Temperature Monitoring
- Invasive Temperature Monitoring
- Esophageal Temperature Monitoring
- Nasopharynx Temperature Monitoring
- Urinary Bladder Temperature Monitoring
- Rectal Temperature Monitoring
By Application
- Anesthesia
- Hypothermia
- Blood Transfusion
- Pyrexia/Fever
- Others
By End User
- Hospitals & Clinics
- Nursing Facilities
- Home Care
- Ambulatory Care Centers
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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- Poultry Drugs Market – The global Poultry Drugs Market size is projected to grow at a CAGR of 10% during the forecast period from 2022 – 2030. The poultry drugs market in North America is expected to grow over the forecast period of 2021-2030. Growth in major poultry producing countries such as Mexico and Canada, rising production rates in various regions owing to rising demand for meat products are factors that propel the growth of this industry.
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