Global Medical Thermometers Market to Reach $3.1 Billion by 2026
SAN FRANCISCO, May 27, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Medical Thermometers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 15; Released: May 2021
Executive Engagements: 7935
Companies: 192– Players covered include A&D Medical; American Diagnostic Corporation; Briggs Healthcare; Cardinal Health, Inc.; Easywell Biomedicals, Inc.; Exergen Corporation; Geratherm Medical AG; Hicks Thermometers (India) Limited; Kaz USA, Inc.; Microlife Corporation; Omron Healthcare, Inc.; RG Medical Diagnostics; Terumo Corporation; Welch Allyn, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Digital Thermometers, Infrared Thermometers, Temperature Strips)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
ABSTRACT-
Global Medical Thermometers Market to Reach $3.1 Billion by 2026
Medical thermometers are diagnostic medical devices intended to measure the body temperature of humans. The global market for medical thermometers is witnessing enormous gains due to the coronavirus outbreak. Global demand for these devices can be attributed to growing focus on health and fitness, rising geriatric population, increasing awareness about self-care management and growing healthcare spending. Demand in the market is also driven by an increasing number of medical conditions that need physicians or other users to accurately measure body temperature for determining the best treatment option. Mercury-free thermometers, including digital and infrared thermometers, are witnessing increasing popularity owing to various advantages of these thermometers, including user-friendly nature, accuracy and safety. Growing adoption of mercury-free thermometers is also attributed to rising incidence of infectious conditions that require accurate measurement of body temperature for better diagnosis of the disease.
Amid the COVID-19 crisis, the global market for Medical Thermometers estimated at US$1.9 Billion in the year 2020, is projected to reach a revised size of US$3.1 Billion by 2026, growing at a CAGR of 8.2% over the analysis period. Digital, one of the segments analyzed in the report, is projected to record a 7.2% CAGR and reach US$1.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Infrared segment is readjusted to a revised 9.6% CAGR for the next 7-year period. The global demand for digital body thermometer is driven by advanced functions and benefits of these devices along with increasing awareness about health & fitness. Digital thermometers are perceived to be more accurate in comparison to conventional analog mercury-based devices, and don't rely on mercury for detecting temperature. Infrared thermometers segment is expected to witness healthy demand owing to the increasing popularity of these devices to control infection and improve patient safety on account of their non-contact operation. These thermometers are anticipated to find a broader adoption in healthcare and homecare settings.
The U.S. Market is Estimated at $1 Billion in 2021, While China is Forecast to Reach $314 Million by 2026
The Medical Thermometers market in the U.S. is estimated at US$1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$314 Million by the year 2026 trailing a CAGR of 8.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.4% and 7.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8% CAGR. The US is estimated to maintain its strong position in the coming years on account of technological advancements, rising investment in R&D, and growing concerns pertaining to self-health care management. The market growth is also facilitated by the high incidence of infectious diseases, advanced healthcare infrastructure, large patient pool, and favorable healthcare policies. Increasing investment in medical infrastructure and rising healthcare expenditure are expected to propel demand in the Asia-Pacific region.
Hospitals & Clinics Application Segment to Reach $1.3 Billion by 2026
Commonly used in hospitals and clinics, the recent years have witnessed an increasing number of hospitals in countries such as China and India replacing the age-old mercury thermometers with digital thermometers. In the global Hospitals & Clinics Application segment, USA, Canada, Japan, China and Europe will drive the 7.06% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$732.2 Million in the year 2020 will reach a projected size of US$1.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$70.3 Million by the year 2026, while Latin America will expand at 8% CAGR through the analysis period. More
MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today's busy business executive's intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.
Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android
About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
LINKS
Get Full Report Details
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp
Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./
Follow Us on Twitter
https://twitter.com/marketbytes
Journalists & Media
[email protected]
SOURCE Global Industry Analysts, Inc.
Share this article