Patient Temperature Monitoring Market Size, Share, Industry Trends and Forecast to 2030

Patient Temperature Monitoring Market Size & CAGR in 2021

The global patient temperature monitoring market is expected to reach a value of USD 3.5 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 5.7% from 2021 to 2026. This growth is driven by the increasing prevalence of chronic diseases, technological advancements in temperature monitoring devices, and the rising demand for non-invasive temperature monitoring solutions.

COVID-19 Impact on the Patient Temperature Monitoring Market

The COVID-19 pandemic has significantly impacted the patient temperature monitoring market. With the outbreak of the virus, there has been a surge in the demand for temperature monitoring devices to screen individuals for fever, which is a common symptom of the virus. This has led to an increased adoption of contactless temperature monitoring solutions and infrared thermometers in various healthcare settings.

Patient Temperature Monitoring Dynamics

The patient temperature monitoring market is driven by factors such as the increasing prevalence of infectious diseases, the growing elderly population, and the rising adoption of telehealth services. Additionally, advancements in wearable temperature monitoring devices and the integration of artificial intelligence technology in temperature monitoring systems are expected to propel market growth in the coming years.

Segments and Related Analysis

The patient temperature monitoring market can be segmented based on product type, application, end-user, and region. Product types include digital thermometers, infrared thermometers, temperature monitoring strips, and wearable temperature monitoring devices. Applications include hospitals, clinics, ambulatory surgical centers, and home healthcare settings. End-users consist of healthcare providers, patients, and caregivers.

By Region Analysis

The patient temperature monitoring market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the market due to the presence of advanced healthcare infrastructure, increasing healthcare expenditure, and a high prevalence of chronic diseases. The Asia Pacific region is expected to witness significant growth owing to the growing geriatric population and increasing adoption of telehealth services.

Key Market Players and Competitive Landscape

Key players in the patient temperature monitoring market include Welch Allyn, Omron Healthcare, Braun, Exergen Corporation, Terumo Corporation, Hicks Thermometers India Limited, and Cosinuss GmbH, among others. These players focus on strategic collaborations, product launches, and acquisitions to strengthen their market presence and expand their product portfolio.

Recent Happenings in the Patient Temperature Monitoring Market

In recent years, the patient temperature monitoring market has witnessed several notable developments. For instance, in 2021, Welch Allyn introduced a new range of contactless temperature monitoring devices with enhanced accuracy and ease of use. Similarly, Omron Healthcare launched a wearable temperature monitoring device that allows continuous temperature monitoring for patients with chronic conditions.