Medical Thermometer Market

Medical Thermometer Market size was valued at USD 2.24 Bn. in 2023 and the total revenue is expected to grow at 6.60% through 2024 to 2030, reaching nearly USD 3.51 Bn.

Medical Thermometer Market Overview:

A medical thermometer is also called a clinical thermometer. Thermometers are greatly used in identifying the temperature of the body. Thermometers are either inserted into the mouth or under the armpit or into the rectum via the anus to record the temperature range in degrees Celsius or Fahrenheit.

The report has covered the market trends from 2015 to forecast the market through 2030. 2023 is considered a base year however, 2023's numbers are on the real output of the companies in the market. Special attention is given to 2023 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.To know about the Research Methodology :- Request Free Sample Report

Medical Thermometer Market Dynamics:

The market growth is highly driven by the COVID-19 pandemics, influenzas, or any other medical conditions like malaria such as Typhoid, dengue. The market is further driven by the digital contactless thermometers and demand for the multifunctional non-contactless clinical electronic thermometer. The major factors contributing to the growth of the market are the increasing frequency of target disease, rising operation, and technological investment.

The COVID-19 pandemic boosted the market expansion by 8.3% in 2022 due to the increasing number of COVID patients and shortage of medical equipment due to lockdown imposed all over the world. COVID-19 pandemic created huge opportunities for the market players to invest in the market by expanding the manufacturing facility due to high demand for the thermometer. This factor also increases the sales of the thermometer.

The usage of thermometers is higher in countries like UK, India, Brazil, US. As the rate of infectious diseases is higher in this region. For example, COVID-19 cases reported in 2022 were 769,150, and around 476,565 patients were recovered and 21,151 died in July 2020. Moreover, temperature monitoring in COVID-19 is essential and has become a new norm to visit the public place and or any other public property to avoid further pass of infection. Further, the global population was made aware of temperature monitoring and this factor further boosted the market sales at a high rate.

Medical Thermometer Market Segment Analysis:

The digital medical thermometer is anticipated to adhere to the growth of the Medical Thermometer Market.

The digital thermometer segment is anticipated to dominate the market, with a share of 45.3% in 2021. The factors attributing to the growth of the market are high accuracy, precise results, less time consuming, low chances of cross-contamination with the infected individuals, and ease to access. Further, the Drug Technical Advisory Body (DTAB) approved the Digital Blood pressure monitoring device which is mercury-free, this factor further helped the digital thermometers to grow in the market. Due to COVID-19 pandemic, digital thermometers are widely preferred in public places like the mall, shops, amusement park, hospital, government building, airports, bus station, railway station and various other places. The government has made temperature monitoring compulsory to avoid cross-contamination and further pass of infection. This factor is anticipated to contribute a larger market share during the forecast period.

The hospital segment dominating the end-user segment of the Medical Thermometer market.

The hospital segment is projected to adhere to market growth and accounted for the largest market share of 59% with a growing CAGR of 7.1% during the forecast period. The growth of the market is attributed to key factors like high exposure of an infected person to a healthy individual, the first line of treatment, and compulsory temperature checking. As hospitals are surrounded by large no of individuals with various kinds of diseases, and infections. To identify the cause of infection or disease it's mandatory to grow through temperature measurement.

Further, temperature measurement and blood pressure monitoring with normal oxygen levels are the primary needs to go for any other treatment or visit physicians. Hence, hospitals have gained a lot of attention in the market. Further, the thermometer is the basic need of hospitals for temperature monitoring of patients undergoing treatment and in Intensive Care Units (ICU). Moreover, increasing COVID-19 hospitals are supplementary estimated to boost the adoption of digital thermometers.

Medical Thermometer Market Regional Insights:

North America is leading in the Medical Thermometer market with 35.8% of the market share in 2023 due to the increasing regularity of infectious diseases and outburst of COVID-19. The thermometer market in the US was valued at 85.3 million in 2022 and is projected to grow by 28.4% in the forecast period. further, the traditional mercury-in-glass thermometer was a ban in 12 states of the US and increased the expansion of digital thermometers. Moreover, due to technological investment, thermometers in the market have come up with a wide range and various properties like thermometers can be paired with smartphones to allow real-time tracking this key factor contributed a significant amount of market share in the US.

In addition, healthcare spending in the regions with growing awareness is like to boost the market growth. For example, as per, Centers for Medical and Medicaid service of US. healthcare spending has been increased by 4.5% and was values at USD 3.8 trillion in 2022 which accounted for approximately 17.7% of the total GDP. Moreover, the national healthcare spending is expected to grow further at 5.3% in the forecast period and is estimated to reach USD 6.1 trillion during the forecast period.

The objective of the report is to present a comprehensive analysis of the Medical Thermometer Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Medical Thermometer Market dynamics, structure by analyzing the market segments and project the Medical Thermometer Market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the Medical Thermometer Market make the report investor’s guide.

Medical Thermometer Market Scope: Inquire before buying

Medical Thermometer Market, by Region

North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)

Medical Thermometer Market, Key Players

1. Medtronic
2. America Diagnostics Corporation
3. Easywell Biomedicals, Inc.
4. Cardinal Health
5. Compumedics Ltd.
6. Terumo Corporation
7. McKesson Corporation
8. Medical Indicators Inc.
9. Mediaid, Inc.
10. A&D company
11. Exergen corporation

Frequently Asked Questions:

1. Which region has the largest share in Global Market?
Ans: North America region holds the highest share in 2023.

2. What is the growth rate of Global Market?
Ans: The Global Market is growing at a CAGR of 6.60%during forecasting period 2024-2030.

3. What is scope of the Global market report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global market?
Ans: The important key players in the Global Market are – Medtronic, America Diagnostics Corporation, Easywell Biomedicals, Inc., Cardinal Health, Compumedics Ltd., Terumo Corporation, McKesson Corporation, Medical Indicators Inc., Mediaid, Inc., A&D company, and Exergen corporation.

5. What is the study period of this market?
Ans: The Global Market is studied from 2023 to 2030.