Enjoy complimentary customisation on priority with our Enterprise License!
The thermometers market size is forecast to increase by USD 881.49 million, at a CAGR of 8.86% between 2022 and 2027. The market's expansion hinges on various factors, notably the escalating incidence of infectious diseases, heightened demand for highly efficient thermometers like digital thermometers, and the burgeoning adoption of thermometers across end-user industries. As infectious diseases continue to proliferate, the need for accurate temperature monitoring intensifies, propelling the demand for advanced thermometer technology. Digital thermometers, renowned for their precision and speed, are witnessing surging popularity, further fueling market growth. Moreover, the widespread integration in diverse sectors amplifies their utility and market demand, reflecting their indispensable role in maintaining public health and safety across various settings.
The market report extensively covers market segmentation by application (medical, industrial, laboratory, food, and others), product (mercury-free thermometer and mercury-based thermometer), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market is propelled by rising concerns over infectious diseases such as Dengue and Malaria, driving demand for temperature monitoring devices. Heightened public awareness and advancements in technological solutions, including infrared thermometers, support market growth. However, challenges persist, including regulatory interventions, particularly in the wake of the Coronavirus outbreak, and the need for environmentally friendly alternatives to traditional mercury thermometers. Additionally, price pressures, healthcare expenditure, and quality concerns pose challenges, emphasizing the importance of affordable, accurate, and quality products amidst evolving market dynamics. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising demand for highly efficient thermometers including digital thermometers is the key factor driving the growth of the market. Accuracy of temperature measurement and control is one of the key parameters that can affect the effectiveness of a thermometer. In liquid-filled thermometers, the temperature is recorded on a scale printed on a glass tube, and mercury can contract or expand to indicate temperature changes. The sensitivity of a liquid-filled thermometer depends on the expansion of the mercury inside the glass tube, and temperature readings cannot be measured accurately beyond the decimal point, limiting the accuracy of this type of thermometer.
Digital thermometers, on the other hand, use a thermistor, thermocouple, or another temperature-measuring sensor that can measure small temperature changes and represent that temperature as a decimal number. Therefore, digital thermometers, including both digital and infrared thermometers, are more accurate than liquid-filled thermometers. Hence, the demand that provide accurate temperature measurements is growing, which will contribute significantly to the growth of the global thermometer market during the forecast period.
Increasing opportunities for market growth in emerging economies is the primary trend in market growth. Regional emerging markets such as APAC, South America, and MEA offer significant growth opportunities for the vendors in the global thermometer market due to their huge potential and untapped market. Market players are expanding into emerging markets such as India, China, South Africa, Brazil, and Chile to take advantage of lower manufacturing and labor costs to enhance their product and service portfolios.
Increased people's income, increased public awareness of the importance of climate control, increased investment in the construction sector, and increased government initiatives to develop the industrial sector and health infrastructure in rural areas have all contributed to these countries. are driving the growth of the market. Increased adoption of advanced temperature measurement devices such as infrared thermometers and support of legislative and regulatory frameworks are also expected to boost the growth of the global thermometer market during the forecast period.
The high risk of mercury contamination is a major challenge to the growth of the market. The most commonly used and traditional types of thermometers are liquid-filled glass thermometers. These thermometers use mercury as the preferred liquid, as it can expand or shrink with changes in temperature. A typical mercury-filled thermometer contains 0.5-1.5 grams of mercury. Mercury contamination can cause several adverse health effects in human beings, including hand tremors and numbness or tingling in the lips, tongue, fingers, or toes. Exposure to a high amount of mercury or methylmercury can also affect a person’s speech, vision, hearing, and movements. Methylmercury can be fatal in high quantities. Thus, such mercury-filled thermometers are considered high-risk products.
Moreover, mercury thermometers are inexpensive, durable, and accurate, these products pose various safety and environmental hazards. Thus, the potential risks associated with mercury contamination might result in a decline in demand for these thermometers and reduce their sales. This will become a major challenge to the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M Co.: The company offers thermometers such as the 3M Bair Hugger Temperature Monitoring Patient Sensor.
The report also includes detailed analyses of the competitive landscape of the market and information about 17 market players, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the medical segment will be significant during the forecast period. Medical thermometers are commonly used in hospitals to accurately measure a patient's core temperature. When evaluating patients, healthcare professionals use elevated readings as an important diagnostic indicator of infection or disease. Because of the importance of body temperature as a vital sign, hospitals should use the most accurate to measure temperature.
Get a glance at the market contribution of various segments Request a PDF Sample
The medical segment was valued at USD 358.15 million in 2017 and continue to grow by 2021. There are many types of medical thermometers used in the healthcare industry, but non-contact are rapidly gaining popularity. An eco-friendly non-contact medical thermometer has been developed that does not touch the patient's skin. Hospital thermometers like TRITEMPTM use her sophisticated TAP and TAKE technology, allowing clinicians to quickly and accurately measure a patient's core temperature simply by pointing the thermometer at the patient's forehead. Such benefits will increase the segment growth during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market trends and drivers that shape the market during the forecast period. The increasing prevalence of deadly infectious and viral diseases in the region is also one of the key factors driving the demand. Malaria, Chlamydia, pertussis, tuberculosis, salmonella, Lyme disease, influenza A and B, herpes simplex 1, herpes simplex 2, staph, shigellosis, and syphilis are some of the major infectious diseases prevalent in the region. If left untreated, these diseases can lead to fatal complications and other serious health issues. Travelers and US Army personnel deployed abroad are still at risk from malaria. Typically, 2,000 cases of malaria are diagnosed every year in the US. Such a high prevalence of deadly infectious and viral diseases in the region is driving the demand in North America.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market caters to a wide array of sectors, including medical, industrial, laboratory, and imaging purposes, with healthcare practitioners relying on them for accurate temperature readings. Major players such as Terumo Corporation and Nexcare drive innovation alongside companies like Exergen Corporation and American Diagnostics Corporation, pushing technological advancements and the development of wearable thermometers. Concerns over environmental well-being have spurred a global initiative towards mercury-free like those offered by Calera. These devices are crucial in maintaining healthcare infrastructure and addressing contagious diseases. Amidst trade regulations, the market sees product approvals and launches, along with geographic expansions and technological innovations, positioning it for category market growths and tapping into emerging revenue pockets across various application niches.
Additionally, the market plays a critical role in various sectors such as medicine, science, and industrial applications, with Centers for Disease Control and Prevention (CDC) and World Health Organization (WHO) guiding standards. In regions like the African Region, thermometers are essential for monitoring medical conditions and personal body temperature. Companies like TEL-TRU offer temperature sensor solutions for industrial purposes and research purposes, ensuring accurate temperatures and faster response times. The market sees demand for affordable healthcare settings and personal healthcare, with a focus on ease of use and connectivity options. Strategies include product improvement cycles and product launches, driving value chain optimization and considering the impact of domestic and localized market players.
Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.86% |
Market growth 2023-2027 |
USD 881.49 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.98 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., A and D Co. Ltd., American Diagnostic Corp., AMETEK Inc., AViTA, B. Braun SE, Baxter International Inc., Dongguan Actherm Medical Corp., Easywell Biomedicals Inc., Exergen Corp., Fluke Corp., Hicks Thermometers India Ltd., Medline Industries LP, Micro Epsilon Messtechnik GmbH and Co. KG, Microlife Corp., Omega Engineering Inc., OMRON Corp., PCE Holding GmbH, Radiant, Testo SE and Co. KGaA, and Wuxi Exanovo Medical Instrument Co. Ltd. |
Market dynamics |
Parent market growth analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.