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Increasingly common viral diseases and illnesses including dengue and malaria, along with growing public knowledge of the value of body temperature monitoring, are the main reasons anticipated to propel the market. Further driving the market's expansion are the growing number of uses for these devices in temperature monitoring for industrial, laboratory, and medical applications as well as imaging. For example, according according to the Centers for Disease Control and Prevention (CDC), there are about 2,000 cases of malaria reported in the United States annually. Furthermore, nearly half of the world's population is at danger of contracting malaria, according to figures by the World Health Assembly (WHO) for 2022. Remarkably, 96% of deaths due to malaria globally originate from the WHO African Region, which also accounts for 95% of global malaria incidence. This highlights the vital role that temperature-monitoring devices play in tackling global health issues.
Furthermore, one of the main drivers of the market's expansion is the rise in patient knowledge and health consciousness. Companies like Terumo Corporation and Nexcare produced portable goods in response to the increased need for self-healthcare. These products are user-friendly and easily adoptable by any patient. Furthermore, it is anticipated that the market would grow as medical professionals become more reliant on thermometers to assess patients' health. There is a growing awareness among various end users, including the food, chemical, and pharmaceutical industries. In many sectors, maintaining precise temperatures at different phases of product development is crucial. Throughout the projected period, these factors are expected to accelerate market growth.
In addition, the quick development of technology has resulted in the introduction of novel products, which is expected to spur market expansion over the course of the projection period. One example of such advancement is the Exergen Corporation's TAT-2000C temporal thermometer, which measures body temperature by rolling it across a child's forehead. Furthermore, the Adtemp 429 thermometer from American Diagnostics Corporation minimizes the possibility of cross-contamination by measuring temperature without coming into touch with skin. Consequently, it is anticipated that the market would be driven by a growing need for quick, accurate, and sensitive thermometers. Furthermore, thermometers are used in the food business to monitor temperatures in order to prevent food and drink contamination and deterioration. A variety of NSF-certified poultry/meat, food testing, and barbecue thermometers are offered by businesses like TEL-TRU. Thus, by preserving the quality of food items that are temperature-sensitive, these thermometers contribute to the expansion of the market.
In addition, the coronavirus pandemic has helped the medical sector by driving up demand for thermometers. Throughout the projected period, this is probably going to drive the market. The need for infrared thermometers has surged due to the requirement for thermal screening in public spaces, workplaces, and medical facilities.
The market has undergone significant changes in recent times due to technical improvements, regulatory interventions, and increased emphasis on environmental well-being. Mercury thermometers were originally widely used in many different industries due to their accuracy in measuring temperature, but worries over their negative effects on the environment and human health have prompted a global campaign to phase them out. Nonetheless, strong action has been taken by governments and regulatory agencies across the globe to enforce stringent prohibitions on the use and manufacture of mercury-containing equipment, such as thermometers.
The report will cover the qualitative and quantitative data on the global Thermometer Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.
Study Period | 2024-31 |
Base Year | 2023 |
Estimated Forecast Year | 2024-31 |
Growth Rate | CAGR of 8.2% from 2024 to 2031 |
Segmentation | By Product, By Application, By Region |
Unit | USD Billion |
By Product |
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By Application |
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By Region |
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Thermometer Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2024-2031 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
By Product
By Application
The report also helps in understanding Global Thermometer Market dynamics, structure by analyzing the market segments, and project the Global Thermometer Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Thermometer Market make the report investor’s guide.
The market is divided into Categorised based on By Product, By Application.
Based on the Product of the market is Categorised into Mercury-based Thermometers, Mercury-free Thermometers.
The mercury-free thermometer segment led the market in 2023 with a 69.1% revenue share, and it is anticipated to increase at the fastest compound annual growth rate (CAGR) of 10.5% all over the course of the forecast period. Digital thermometers, infrared radiation thermometers, and other kinds are further separated in the market. The use of mercury-free thermometers, such as digital and infrared thermometers, is predicted to rise substantially since they provide more precise readings and don't harm the environment.
Mercury-based thermometers, on the other hand, are used in laboratories and are simple to use. However, due to mercury's toxic properties, nearly 20 states have outlawed its usage since 2001, particularly for medical purposes. In the upcoming years, stricter laws governing the use of these instruments are anticipated to be put into place, restricting the application of mercury-based thermometers in a variety of industries. Analytical Technology and Control Limited (ATCT), for example, will no longer provide its clients with ASTM-approved mercury-based thermometers; instead, they will provide their clients with spirit-filled thermometers.
Based on the End-use of the market is segmented into Medical, Industrial, Food, Laboratory, Others.
In 2023, the medical segment commanded the highest revenue share of 28.1%, leading the market. This is explained by the existence of a firmly organized healthcare system and the high prevalence of illnesses that call for taking a body temperature reading. Developments in thermometer technology are a primary factor in this market's expansion. For example, A&D Company, Limited's Instant Read Digital Ear thermometer is available with 10 memory recalls and a single button for operation. With its LCD display, it facilitates simple measurements in just one second.
The pharmaceutical, chemical, & biotechnology industries require accurate temperature control at various stages of product development, which is why the industrial category is expected to increase at a significant rate of 8.6% over the projected period. The selection of industrial thermometers is influenced by various factors such as type, size, configurations, display options, features, applications, and operational settings. Moreover, the presence of significant firms such as LumaSense Technologies, Inc., Endress+Hauser Management AG, and Microtemp Electrics Co., Ltd. is expected to bolster the overall market advancement. These factors should quicken the segment's growth during the anticipated period.
By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. In 2023, North America held a 34.4% revenue share, leading the market. Among the main contributing reasons are an aging population and rising healthcare costs. The government's campaigns to raise public awareness of infectious diseases and promote improved health are expected to accelerate market growth in addition to healthcare camps. Additionally, the existence of significant key players like 3M, Medline Industries, Welch Allyn, Inc., America Diagnostics Corporation, and A&D Medical, as well as the availability of technologically improved goods, are driving the market's expansion.
The Asia Pacific market is predicted to grow at a significant rate of compound annual growth (CAGR) during the forecast period. The robust growth potential in this area to satisfy the unfulfilled aspirations of the target demographic explains this increase. across addition, the market is growing as a result of rising incidence of chronic illnesses and rising demand for advanced thermometers across Asia, especially in India. China and Japan are home to large populations of elderly individuals who are more prone to chronic ailments. Chronic sickness is more common in the aging population, which is expected to drive up demand for thermometers in the Asia Pacific area.
The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Thermometer Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
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28 Mar 2023
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