Medical Thermometer Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Medical Thermometer market in 2021?

The global medical thermometer market is expected to experience substantial growth in 2021. With a Compound Annual Growth Rate (CAGR) of 6.5% from 2020 to 2021, the market size is projected to reach USD 1.2 billion by the end of the year. The increasing awareness about the importance of regular temperature monitoring, especially in the wake of the COVID-19 pandemic, has been a key driver for this growth.

COVID-19 Impact on the Medical Thermometer Market

The COVID-19 pandemic has had a significant impact on the medical thermometer market. The increased emphasis on monitoring body temperature as a primary symptom of the virus has led to a surge in demand for medical thermometers worldwide. Hospitals, clinics, and households have all seen a sharp increase in the use of thermometers to screen for potential cases of COVID-19. This heightened demand has prompted manufacturers to ramp up production to meet the needs of the market.

Medical Thermometer Dynamics

The dynamics of the medical thermometer market are rapidly evolving, driven by technological advancements, changing healthcare needs, and shifting consumer preferences. Digital thermometers with features like infrared technology for non-contact readings, Bluetooth connectivity for data tracking, and accuracy in temperature measurement are becoming increasingly popular. The market is also witnessing a growing trend towards the development of smart thermometers that can sync with mobile apps for comprehensive health monitoring.

Segments and Related Analysis

The medical thermometer market can be segmented based on type, application, and end-user. The different types of thermometers include digital thermometers, infrared thermometers, ear thermometers, and oral thermometers. Applications of medical thermometers range from clinical use in hospitals and healthcare facilities to personal use at home. End-users of medical thermometers include hospitals, clinics, diagnostic centers, and households.

By Region Analysis

Regionally, North America leads the global medical thermometer market, followed closely by Europe and Asia Pacific. The North American market is driven by the presence of a well-established healthcare infrastructure, increasing awareness about health monitoring, and the adoption of advanced technologies. The Asia Pacific region is experiencing rapid growth in the medical thermometer market due to rising healthcare expenditure, expanding population, and growing demand for accurate temperature measurement devices.

Key Market Players and Competitive Landscape

Some of the key players in the medical thermometer market include Omron Healthcare, Braun, Exergen Corporation, Kaz, and Microlife. These companies are actively engaged in product development, strategic collaborations, and mergers and acquisitions to strengthen their market position and gain a competitive edge. The competitive landscape of the medical thermometer market is dynamic and driven by innovation, quality, and customer satisfaction.

Recent Happenings in the Medical Thermometer Market

In recent years, the medical thermometer market has witnessed several notable developments. Manufacturers are focusing on enhancing the accuracy, speed, and user-friendliness of their products to meet the evolving needs of healthcare providers and consumers. The integration of advanced technologies like artificial intelligence and IoT connectivity into medical thermometers is opening up new opportunities for market growth. Additionally, the COVID-19 pandemic has accelerated the adoption of digital thermometers and non-contact temperature measurement devices, driving innovation in the market.