The medical thermometer market has witnessed impressive growth over the recent past owing to increasing preference for digital thermometers over traditional oral thermometers. Digital thermometers offer accurate, convenient and fast readings within seconds, thereby improving patient outcomes and experience. These devices have become extremely popular in household as well as clinical settings given their easy-to-use interface and digital display.
Medical thermometers are essential devices used for detecting fevers and monitoring body temperature. They come in various forms including oral, tympanic/ear, temporal, rectal and axillary thermometers. Of these, Medical Thermometer Market Growth that are inserted under the tongue are most commonly used for infants and young children to get accurate readings.
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.
The growing demand for medical thermometers can be attributed to increasing incidence of fever-related illnesses and the need for accurate and early detection of body temperature changes. Prevalent infectious diseases like influenza, common cold and COVID-19 have boosted demand for digital thermometers for self-monitoring. Furthermore, shifting consumer preference from traditional to advanced digital thermometers is expected to drive the market.
The medical thermometer market is expanding globally with growing awareness regarding temperature monitoring, rapid urbanization and improving access to healthcare services. The Asia Pacific region especially countries like India and China offer lucrative growth opportunities owing to rising healthcare expenditures, favourable government policies and increasing incidence of fever cases. North America currently dominates the global market while growing geriatric population and epidemics will continue stimulating demand across major regions.
Market Key Trends
One of the key trends gaining traction in the medical thermometer market is the rising popularity of infrared thermometers. These contactless thermometers use infrared technology to measure surface body temperature from the temporal artery area or forehead within a second. Infrared thermometers are increasingly being used at public places like airports, malls and offices for mass fever screening during outbreaks. They provide a convenient, hygienic and safe method of temperature measurement without any direct contact. This trend is expected to further accelerate given ongoing concerns around spread of infectious diseases.
Porter’s Analysis
Threat of new entrants: New players will find it difficult to enter the market given the presence of established players and requirement of sizable investments.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many established players providing substitutes in the market.
Bargaining power of suppliers: A few large manufacturers control the supply chain, giving them significant bargaining power over buyers.
Threat of new substitutes: Substitutes like infrared thermometers and temperature strips provide competition.
Competitive rivalry: Market is dominated by top global players
Geographical Regions
North America region accounts for the largest share of the global Medical Thermometer Market Regional Analysis in terms of value due to high healthcare spending and developed healthcare infrastructure in countries like the US and Canada.
Asia Pacific region is expected to witness the fastest growth over the forecast period owing to improving access to healthcare facilities, rising disposable incomes, growing incidence of fever and other illnesses requiring temperature monitoring in densely populated countries like India and China.
About Author - Ravina Pandya
Ravina Pandya,a 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, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile