by The Medical thermometers market consists of devices used for the measurement of human body temperature. Thermometers designed for medical purposes are more accurate and provide precise results as compared to ordinary thermometers. The two main types of medical thermometers available are mercury-containing thermometers and non-mercury (digital or infrared) thermometers. Mercury-containing thermometers have been used conventionally, however, due to safety and environmental concerns, non-mercury thermometers are gaining more popularity. Digital thermometers give fast, precise temperature readings and have rechargeable batteries with memory functions. Medical Thermometer Market Growth are completely non-invasive and provide temperature readings by measuring the infrared energy detected by the human body without any contact.
The Global Medical Thermometer Market is estimated to be valued at US$ 3.86 Bn in 2024 and is expected to exhibit a CAGR of 8.3% 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. These players are focused on developing innovative product types to cater to changing customer requirements.
The growing prevalence of infectious diseases worldwide is generating significant demand for medical thermometers. According to the World Health Organization (WHO), infectious diseases account for approximately 26% of global deaths annually. COVID-19 pandemic has further increased the need for thermometers for detection of fever symptoms.
The medical thermometer market is expanding extensively across global geographical regions catering to the need for temperature screening and monitoring. Technological advancements resulting in the development of smart digital thermometers integrated with mobile apps are supporting market growth. Growing healthcare infrastructure and rising patient awareness in emerging nations also provide lucrative opportunities.
Market Drivers
The rising prevalence of infectious diseases is the major driver propelling the growth of the medical thermometer market. According to the World Health Organization, infectious diseases account for around 26% of global deaths each year with the developing world suffering the most. The ongoing COVID-19 pandemic has increased the demand for thermometers manifold for detection of fever symptoms. Thermometers aid in screening, diagnosis, and treatment of infectious illnesses rendering their increased adoption.
Geopolitical Impact on Medical Thermometer Market Growth
The current geopolitical instability across several regions is negatively impacting the medical thermometer market growth. The ongoing Russia-Ukraine war has disrupted supply chains and increased raw material prices. This is affecting the production and availability of medical thermometers globally. Additionally, the rising geopolitical tensions between major economies like US, China and tensions in South China sea is impacting international trade and investment flows. The export-import restrictions and sanctions imposed by different countries add to the challenges.
For sustainable growth, companies must develop alternative sourcing strategies and diversify production bases to minimize single country dependence. They also need to focus on developing thermometers using locally available materials to insulate their business from geopolitical risks. Partnering with regional medical technology companies and focusing on regional markets could help gain from local demand and reduce impacts of global uncertainties. Overall, geopolitical stability across different regions will be critical for the long term forecasted growth of this market.
Europe Medical Thermometer Market Concentration
The Europe region accounts for around 35% of the total global value of the medical thermometer market concentrated. Countries like Germany, United Kingdom, France, Italy amongst others are the major European markets. This is due to high per capita healthcare spending, developed healthcare infrastructure and greater availability of advanced medical devices in these countries. With rising focus on preventive healthcare and growing elderly population susceptible to various illnesses, the demand for thermometers remains steadily high. Strong distribution channels of leading players coupled with healthcare policies supporting usage of medical devices has ensured European market leadership.
Asia Pacific – Fastest Growing Region
The Asia Pacific region is poised to witness the fastest growth in the medical thermometer market during the forecast period. This is attributed to expanding medical infrastructure, growing health awareness and rising disposable incomes in developing countries like China, India and other Southeast Asian markets. Countries are ramping up investments in public health systems, facilitating greater access to advanced medical technologies like digital thermometers. Additionally, shifting of production bases of leading manufacturers to Asia Pacific helps strengthen regional supply chains and satisfy the rapidly rising demand. Overall, the Asia Pacific represents major high growth opportunities for medical thermometer producers globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
Ravina Pandya
Ravina Pandya,Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. LinkedIn
