The global body temperature monitoring market is projected to witness a compound annual growth rate of 14.32% to grow to US$5,806.757 million by 2026, from US$2,275.120 million in 2019. The market is expected to surge in the coming years because of the rise in infectious conditions, such as Ebola Virus and Swine Flu disease, and the current COVID pandemic among others. There has also been a surge in the demand for novel, advanced and digital technologies, which is expected to drive market growth. For Instance, In February 2021, Canon Solutions America Inc, one of the major players in the market, announced the launch of welloStationXTM, an automated, FDA cleared, digital, and no-touch clinical thermometer. The novel product is a real-time, accurate temperature monitoring system station, which combines health screening and technology practices. In December 2020, ams, a major supplier of high-performance sensor solutions, announced the launch of AS6221, one of the most accurate digital temperature sensors, worldwide. The company stated that its novel product would provide high-performance value to thermal monitoring and other applications.
GROWTH IN PEDIATRIC POPULATION
The global body temperature monitoring market is expected to be driven by the rise and growth in the pediatric population, globally. With the continuous reduction in children's mortality rate, the market is expected to expand over the forecast period. According to the United Nations 2019 Report, the population of children aged between 0 to 14 years, globally is expected to be at 2.02 billion by 2030. The report also stated that at least 47 developed nations, globally, had been projected to see 1.1 billion births, between the years 2020 and 2050. According to Eurostat 2019, less than one-third of the European Union population was under the age of 30 years, and children between 0 to 14 years of age, accounted for 15% of the total share. According to the United States government, there were 74 million children in the country in 2019 and the number is projected to surge to 78.2 million by 2050. These numbers indicate, that with the increasing pediatric population, the body temperature market will register substantial growth. Babies and children are much sensitive to the occurrence of fever and high body temperature. Nowadays, smart body temperature monitors and other types of digital solutions, are important in order to get quick solutions. The introduction of novel technologies is expected to play a major role in the overall market growth. In January 2021, KidsX, a global consortium of pediatric hospitals, which focuses on the enhancement of digital health innovation, through various partnerships and collaborations, had selected 13 startup companies to be a part of the company’s inaugural accelerator hold. By this collaboration, the companies had been aiming to validate the market and product fit in pediatrics more easily and quickly, saving resources and time. The companies would provide digital temperature monitoring services for children.
INCREASING DEMAND FOR INFRARED-BASED SYSTEM
An infrared thermometer enables temperature reading without the risk of transmission. The prime factor leading the growth of this market is widespread safety standards and the need for contactless monitoring devices to curb the spread of the virus. In the coming years, the market is predicted to grow at a significant rate due to widespread adoption and the need for maintaining the social distancing measures in near future. Deltatrak recently launched its Model 15007 Non-Contact forehead Infrared Thermometer, to enhance the ability of users with prevention against coronavirus. The cold chain and monitoring solutions providing company got approval from the FDA and CE for its range of the thermometer. Nuos Home Automation introduced Infrared Touchless Thermal Scanner. This product can be deployed in different places and monitor the body temperature of people that pass through the surveillance area.
INCREASING USE IN HOSPITALS & CLINICS
Hospitals are healthcare institutions that provide patient treatment having a trained medical and nursing staff. Hospitals are expected to have a significant market share on account of a tremendous patient count and mandatory fever checks. Furthermore, increasing investments in new hospitals followed by the adoption of new technologies in the developing countries around the globe are expected to propel the market growth opportunities during the forecast period. The advent of COVID-19 is projected to further boost the demand for temperature monitoring devices for their use in hospitals and clinics since government regulations regarding surveillance of temperature at regular intervals and before entering the vicinity are further positively impacting the market growth during the short run. Moreover, the conversion of healthcare facilities into COVID-19 facilities further amplified the demand for non-contact temperature monitoring devices for their use in hospitals and clinics during the initial phase of the year 2020.
Also, the increasing participation by market players in the launch and development of numerous systems and technologies with an aim to resolve the challenges being faced by healthcare facilities for temperature monitoring amid the pandemic. For instance, in June 2020, Thermovis announced an investment worth £3 million for the R&D of Multi-Person Thermal Scanner that has the capability to monitor the body temperature of up to six people at once with an accuracy of 0.5 degrees centigrade.
The coronavirus pandemic has positively impacted the demand for temperature monitoring devices as never before, with the surge in the number of COVID-19 cases in various parts of the world led to a spurt in demand for thermometers, scanners, and other medical devices. The category showed exponential growth in 2020 with many countries witnessing double-digit growth in demand for non-contact devices, thus attracting new market players. For instance, in May 2020, Nuos Home Automation, a company engaged in providing home automation solutions announced the launch of their new product, Infrared Touchless Thermal Scanner. Furthermore, the implementation of strict regulations by the governments across various countries regarding continuous monitoring of body temperature across industries, offices, and others further acted as a catalyst for the high market growth in the year 2020. Further, the World Health Organization recommends that all individuals should regularly monitor their temperatures to mitigate the risk of this disease further created a positive impact on the market growth during the short run.
|Market size value in 2019||US$2,275.120 million|
|Market size value in 2026||US$5,806.757 million|
|Growth Rate||CAGR of 14.32% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Application, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Hicks Thermometers India Ltd., Omron Healthcare, Welch Allyn, 3M, Braun Health Products, Vats Medical Healthcare Ltd., DeltaTrak Inc., Fluke Corporation, TE Connectivity, OMEGA Engineering Inc. (a Speciris Company)|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the body temperature monitoring market size by 2026?
A1. The global body temperature monitoring market is projected to reach a market size of US$5,806.757 million by 2026.
Q2. What factors are anticipated to drive the body temperature monitoring market growth?
A2. The body temperature monitoring market is expected to surge in the coming years because of the rise in infectious conditions, such as Ebola Virus and Swine Flu disease, and the current COVID pandemic among others.
Q3. What are the growth prospects for the body temperature monitoring market?
A3. The body temperature monitoring market is projected to witness a CAGR of 14.32% over the forecast period.
Q4. What is the size of the global body temperature monitoring market?
A4. Body Temperature Monitoring Market was valued at US$2,275.120 million in 2019.
Q5. How is the global body temperature monitoring market segmented?
A5. The body temperature monitoring market has been segmented by type, application, end-user, and geography.