The global patient temperature monitoring market is projected to be USD 6,039.3 million by 2030 growing at a CAGR of 7.0% during the forecast period. This is mainly because such devices are hygienic, non-invasive, and non-traumatic, and offer an easy and precise interpretation of temperature data. Furthermore, hand-held temperature screening devices responsible for the largest market share, of 27.0%, in recent years, on the basis of product, because of their greater patient suitability and obtainability in the market.
The occurrence of infectious and chronic illnesses, like cardiovascular diseases, cancer, and diabetes is on the surge. As per the statistics, around 5 million people will die in the U.K. in the coming ten years as a result of chronic illnesses. Above 15 million individuals in the U.K. already are suffering from at least one chronic illness, and this count is projected to accelerate further. Thus, monitoring body temperature plays a vital role in assessing the condition of the body.
The increasing worldwide demand for patient temperature monitoring systems, mainly during the COVID-19 epidemic, has boosted the industry growth. Because of the growing demand for these devices, numerous manufacturers have formed digital thermometers for accurate and dependable body temperature assessments.
In recent years, the non-invasive temperature monitoring category generated the highest revenue share of more than 1,892.9 million, and the category is also projected to advance at a CAGR of approximately 7.3% during the projection period, on the basis of the site. The industry is escalating in this category because of reasons like more accessible, pleasant, simple, and accurate temperature monitoring.
In the past few years, the pyrexia/fever category had the largest share in the industry, at more than 30.1%. The increasing elderly populace, and also a surge in hemolysis and trauma cases, is boosting the industry's enlargement in this category. Furthermore, fever causes indications like increased sensitivity to pain, dehydration, and fatigue. The rising occurrence of illnesses is projected to increase the occurrence of fever, which would finally fuel the utilization of patient temperature monitoring systems.
In recent years, The North American region generated the highest revenue share in the patient temperature monitoring market accounting for USD 1,077.0 million, which is estimated to advance at a CAGR of approximately 6.9% during the projection period. This growth can be credited to the existence of key industry players, a developed country, high per-capita income of individuals, augmented healthcare expenditure, a large volume of operations, and a surge in blood transfusion and donation, in the region.
Hence, the key drivers of the patient temperature monitoring industry comprise the growing awareness of constant temperature monitoring and preventive care, the increasing occurrence of infectious and chronic illnesses, and technical improvements in these devices.
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