Patient Temperature Monitoring Market Poised to Reach $12.2 Billion by 2030 with 9.6% CAGR, Fueled by Technological Advancements

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Oct 03, 2023, 18:30 ET

DUBLIN, Oct. 3, 2023 /PRNewswire/ -- The "Patient Temperature Monitoring - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Patient Temperature Monitoring, estimated at US$5.8 billion in 2022, is poised for significant growth, projected to attain a revised size of US$12.2 billion by 2030, with an impressive CAGR of 9.6% over the analysis period spanning from 2022 to 2030.

Within the report's analysis, Handheld Temperature Monitoring Devices are projected to record an impressive 11.1% CAGR, reaching a market size of US$8.2 billion by the end of the analysis period. Growth in the Table Top Temperature Monitoring Devices segment is estimated at 8% CAGR for the next 8-year period.

U.S. Market Estimated at $1.8 Billion, China Forecasted to Grow at 11.6% CAGR

In the U.S., the Patient Temperature Monitoring market is estimated at US$1.8 billion in 2022. Meanwhile, China, the world's second-largest economy, is forecasted to reach a projected market size of US$1.8 billion by 2030, exhibiting a robust CAGR of 11.6% over the analysis period from 2022 to 2030. Other noteworthy geographic markets include Japan and Canada, each expected to grow at 7.6% and 8.3%, respectively, over the 2022-2030 period. Within Europe, Germany is forecasted to grow at an approximate CAGR of 9%.

Key Competitors in the Patient Temperature Monitoring Market

The report identifies key competitors in the Patient Temperature Monitoring market, including American Diagnostic Corporation, Actherm, Inc., Asia Connection Co., Ltd., American Thermal Instruments, Amico Corporation, Abronn FZE, AME WORLDWIDE, AViTA Corporation, B.Well Swiss AG, Babybelle Asia Ltd., Beaba UK Ltd., AndesFit System Limited, 3J`SHealthcare Group, LLC, Alicn Medical(Shenzhen),Inc., Beybi Plastik Fabrikasi Sanayi AS, and many others.

Economic Outlook and Market Landscape

The global economic outlook is showing signs of improvement, with growth recovery anticipated in the near term. While the United States has experienced slowing GDP growth due to tight monetary and financial conditions, it has successfully overcome recession threats. In the Euro area, easing headline inflation is boosting real incomes and contributing to an upswing in economic activity. China is expected to witness robust GDP growth as the pandemic threat diminishes, and the government adjusts its policy stance. India is also on track to emerge as a trillion-dollar economy by 2030, surpassing Japan and Germany.

Nevertheless, various challenges persist, including uncertainty surrounding the Ukraine conflict, slower-than-expected global headline inflation decline, ongoing food and fuel inflation in developing nations, and elevated retail inflation impacting consumer confidence and spending. Governments worldwide are addressing these challenges, which are impacting market sentiments. Efforts to combat inflation through interest rate hikes may affect job creation and economic activity. Additionally, a stricter regulatory environment and increased pressure to incorporate climate change considerations into economic decisions add complexity to the challenges faced.

While corporate investments may face headwinds due to inflation concerns and weaker demand, the emergence of new technologies such as generative AI, applied AI, industrialized machine learning, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies presents opportunities for global GDP growth.

What's New in the Report?

Special discussions on the global economic climate and market sentiment.
Coverage on global competitiveness and key competitor market shares.
Market presence analysis across multiple geographies.
Online interactive peer-to-peer collaborative bespoke updates.
Access to digital archives and trademarked research platform.
Complimentary updates for one year.
Access to curated YouTube video transcripts featuring insights from CEOs, domain experts, and market influencers via interviews, podcasts, press statements, and event keynotes.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Body Temperature - An Important Indicator of Health and Well-Being
Importance of Body Temperature Monitoring
A Prelude to Patient Temperature Monitoring
Impact of Covid-19 and a Looming Global Recession
The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: exhibiGlobal Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
How the Healthcare Industry Has & Continues to be Impacted by the Pandemic & What's the New Normal?
With the COVID-19 Pandemic Exposing Global Healthcare Unpreparedness, There is Increasing Policy Led Focus on Rebooting Health Systems Worldwide: Current & Required Healthcare Spending as % of GDP
The Pandemic Triggers Shift in Consumer Behaviour & Engagement With Healthcare Technologies & Services
Impact of COVID-19 on Patient Temperature Monitoring Market
Patient Temperature Monitoring - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
GLOBAL MARKET OVERVIEW
Patient Temperature Monitoring Market to Witness Rapid Growth
US and Europe Dominate, Asia-Pacific to Witness the Fastest Growth
As the World Economy Struggles under Covid-19 Impact, Infrared Thermometer Sales Rises High
Infrared Thermometers Play an Indispensable Role in Identifying Infected Patients
Digital Thermometers Witnesses Rapid Growth
Healthcare Agencies Betting on Digital Smart Thermometers to Identify COVID-19 Hotspots
Recent Market Activity
WORLD BRANDS

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Growing Awareness About Importance of Continuous Temperature Monitoring in Patient Management
Increasing demand for advanced temperature monitoring devices
Growth in Number of Blood Transfusion Procedures Drive Patient Temperature Monitoring Market
Rise in Number of Infectious Diseases to Drive the Market for Medical Thermometers
Global Number of Deaths Caused Due to Communicable Diseases (In 000s)
No. of Cases and Deaths Due to Ebola Virus Disease (EVD) Worldwide: 2014 to June 2017
Growing Geriatric Population to Drive the Need for Patient Temperature Monitoring
Expanding Elderly Population Worldwide: Breakdown of Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030
Global Population Statistics for the 65+ Age Group by Select Countries: 2019
Self-Care Management Evokes Sales Opportunities
Increasing Paediatric Population Offers Growth Opportunities for Manufacturers
Global Population of Children Between 0-4 years (2015 & 2020P)
High Incidence of Preterm Births Drives Demand for Temperature Monitoring in Neonatal Intensive Care Units
Countries with High Rate of Preterm Births Worldwide Country Total Preterm Births
Total Preterm Births (in Percentage) in the US: 2010-2018E
Rise in Surgical Procedures Calls for Patient Temperature Monitoring Market
Global Surgical Procedure Volume by Procedure Type (2018)
Number of Surgical Procedures (per 100,000 People) in Select Countries
Growth in the Number of Surgeries in the US (2010-2020) (in %)
Increasing Prevalence of Chronic Disorders Fuels Market Growth
Fatalities by Heart Conditions - Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
Rising Diabetes Prevalence: Number of Adults (20-79) with Diabetes (in Millions) by Region for 2017 and 2045
Smart Thermometers - A Fast Evolving Market
Healthcare Agencies Betting on Digital Smart Thermometers to Identify COVID-19 Hotspots
Smart Thermometers to Aid in Flu Forecasting
Wireless Thermometers - Viable Solution for Undisturbed Temperature Monitoring
Nanoscale Thermometer - The Next Frontier in Technology Advancement
Wearable Thermometers - An Ideal Solution for Infants and Neonates
No-Fuss Infant Thermometers - An Expanding Market
Companies Explore the Body Temperature Monitoring Pills Market
Technological Advancements and Innovations
Thermometer Makers Introduce Innovative Solutions to Support Fight against COVID-19
Vendors Offer Advanced Products for Temperature Screening
Select Launches and Innovations of Medical Thermometers in Recent Years
CWD Innovations Introduces a Wearable Device to Monitor Patient Temperature
Masimo Introduces a Wearable for Monitoring Temperature Regularly
Identiv Designs an NFC-Enabled Body Temperature Measurement Patch
Wireless Temperature Monitoring Patch
Melexis NV Identifies a Unique Approach to Measure Body Temperature

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/l0q59a

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