by The global medical thermometer market comprises digital thermometers, mercury thermometers, liquid filled thermometers and infrared thermometers which are widely used in hospitals, clinics and households for measuring human body temperature. Thermometers are vital in determining presence of a fever, which helps physicians detect presence of an underlying infection or illness. Advances in thermometer technology has led to development of accurate, convenient and easy-to-use digital thermometers which provide temperature readings in a matter of seconds. This has boosted their adoption over traditional mercury thermometers which are slowly being phased out owing to 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 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 focusing on introducing advanced digital thermometers integrated with smartphone applications and connectivity to cloud services for remote health monitoring.
The Global Medical Thermometer Market Size is witnessing increased due to rising awareness about preventive healthcare and importance of routine monitoring of body temperature. This is driving more individuals as well as healthcare providers to opt for regular temperature screening. Additionally, increasing prevalence of infectious diseases and viral outbreaks worldwide is also propelling the need for thermometer usage on a large scale.
The market players are expanding their geographical presence aggressively to tap the widespread opportunities across developing regions such as Asia Pacific and Latin America. Increasing healthcare expenditures and rising access to advanced medical devices in emerging countries is encouraging international players to invest further in these untapped markets.
Market Key Trends
The medical thermometer market is being influenced significantly by the trend of incorporation of modern connectivity features in thermometers. Major players have introduced Bluetooth and Wi-Fi enabled digital thermometers that can transmit temperature readings to smartphones, computers or cloud servers. This allows remote monitoring of patients by physicians as well as family members. Integration of artificial intelligence capabilities for fever detection and automated temperature charting is another emerging trend in medical thermometers.
Porter’s Analysis
Threat of new entrants: Low capital required to enter the medical thermometer market. However, the established brands have strong customer loyalty and distribution networks.
Bargaining power of buyers: High bargaining power due to availability of substitutes and undifferentiated products. Buyers can negotiate on price.
Bargaining power of suppliers: Low bargaining power due to availability of substitutes and strong buyer base. Buyers have bargaining power on suppliers.
Threat of new substitutes: Moderate threat from substitute products like digital thermometers, infrared ear/forehead thermometers gaining popularity due to ease of use.
Competitive rivalry: High competition due to presence of large number of players offering undifferentiated products. Pricing strategy intensifies competition.
Geographical Regions
North America remains the largest geographical region for the Medical Thermometer Market Regional Analysis, accounting for a value share of over 30% in 2024. This is attributed to well-established healthcare infrastructure and high adoption of advanced medical devices. Europe captures the second largest share owing to rising healthcare expenditures and government support for development of innovative products. Asia Pacific exhibits the fastest growth rate during the forecast period on account of increasing patient awareness levels, improving access to healthcare facilities and expanding medical device industry in Japan, China and India. Latin America and Middle East & Africa witness steady uptake of medical thermometers with growing public-private investments in healthcare sector of emerging nations.
The fastest growing medical thermometer market is Asia Pacific. Factors like rising geriatric population, increasing healthcare reforms, improving access in rural areas and emergence of low-cost manufacturers are boosting market growth in Asia Pacific countries at a CAGR above 10% between 2024 to 2031. China and India is expected showcase highest sales opportunities owing to huge patient pool and continuously evolving healthcare infrastructure. Entry of global players and collaborations with local manufacturers will further propel medical thermometer industry across Asia Pacific region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Alice Mutum
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 audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn
