Medical Thermometer Market is Driven by Growing Number of COVID-19 Cases
The medical thermometer market has been witnessing significant growth in demand due to the growing prevalence of various infectious diseases like COVID-19 that require body temperature monitoring. Medical thermometers help detect fevers and monitor body temperatures, aiding in the diagnosis and treatment of patients. Commonly used thermometer types include mercury-filled thermometers, digital thermometers, infrared thermometers, and tympanic thermometers. Digital thermometers are highly popular as they offer convenience of use and fast, accurate readings without the risks of mercury spillage.
The Global Medical Thermometer Market is estimated to be valued at US$ 2.20 Bn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the medical thermometer market are Medline Industries, Inc., Welch Allyn, Medtronic, OMRON Corporation, America Diagnostics Corporation, 3M Company, Microlife Corporation, Briggs Healthcare, Exergen Corporation, Terumo Corporation, Medtronic PLC, Geratherm Medical AG, Exergen Corporation, A&D Company, Limited, BPL Medical Technologies, Rossmax International Ltd., and Radiant Innovation Inc. Major players are focused on new product launches and strategic collaborations to strengthen their market position.
The Medical Thermometer Market Demand can be attributed to the rising prevalence of illnesses like COVID-19 worldwide which has boosted the need for temperature monitoring. With rising health awareness, regular health checkups involving measurement of vital parameters has become common. This fuels the demand for thermometers for self-monitoring and professional healthcare applications.
The medical thermometer market is also witnessing expansion in developing regions with growing healthcare investments and increasing access to quality healthcare. Rising disposable incomes allow people to spend more on personal health and wellness. This supports the sales of medical devices including digital thermometers in emerging markets.
Market Drivers
A key driver for the Medical Thermometer Market Challenges And Opportunities is the ongoing COVID-19 pandemic. The virus leads to fever in many patients and temperature screening has become essential for diagnosis and mitigation of spread. This has boosted sales of infrared thermometers, thermal cameras, and digital thermometers for personal and professional use. Increased emphasis on prevention and monitoring of infectious illnesses through temperature checks is expected to further support market growth over the forecast period.
Impact of geopolitical situation on Medical Thermometer Market growth:
The global Medical Thermometer Market is facing challenges due to the geopolitical tensions between various countries. Supply chain disruptions caused by international lockdowns and border closures during the COVID-19 pandemic have constrained the production and distribution of Medical Thermometers. Furthermore, the Russia-Ukraine conflict has led to sanctions on Russia by Western countries, compounding the raw material supply issues for Medical Thermometer manufacturers. The rising tensions between US and China are also negatively impacting cross-border trade flows and foreign investments between these two economic powers. To deal with these geopolitical risks in the long run, companies operating in the Medical Thermometer Market need to diversify their supplier networks across different regions and countries. Localizing production facilities and establishing strategic partnerships with regional player will help make supply chains more resilient. Additionally, investing in automation and digitization of manufacturing processes can boost productivity while reducing dependence on human workforce cross-border movement during periods of geopolitical uncertainty.
Geographical regions with concentrated Medical Thermometer market value:
North America accounts for the largest share of the global Medical Thermometer market value-wise, followed by Europe. The developed healthcare infrastructure and increasing healthcare expenditure in countries like the US and Germany contribute to their dominance. Furthermore, the presence of leading Medical Thermometer brands such as Medtronic, 3M, and Terumo in these regions have further strengthened their market position. Asia Pacific is estimated to be the fastest growing regional market, led by China and India. This is attributable to the rising population and healthcare needs of emerging Asian nations. Additionally, improving access to healthcare services across rural areas and changing disease patterns towards chronic diseases will further boost thermometer demand.
Fastest growing region for the Medical Thermometer Market:
Asia Pacific region is poised to be the fastest growing market for Medical Thermometers during the forecast period 2022–2027. This is attributable to rising healthcare expenditure, growing awareness about disease prevention and care amongst general public, increasing disposable income levels in developing Asian countries such as India and Indonesia. In addition, improving access to healthcare facilities in rural areas across APAC economies is encouraging preventive healthcare adoption. Governments’ focus on upgrading public health infrastructure will also positively influence market growth. Furthermore, presence of vast untapped opportunities and relatively lower operation costs make the Asia Pacific region an attractive market for both international and regional players. China and India with their huge population base and accelerated economic development are expected to lead the Medical Thermometer demand while Southeast Asian markets will grow at even faster rates during the next decade.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with
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