Temperature Monitoring Systems Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Temperature Monitoring Systems Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Temperature Monitoring System Market

The Temperature Monitoring System market size was valued at USD 1.43 billion in 2023, and the market is now projected to grow from USD 1.54 billion in 2024 to USD 2.93 billion by 2032, exhibiting a CAGR of 8.4% during the forecast period of 2024-2032.

The market development showed a positive regime in the phase of pandemic. With the expanding cases of COVID-19 over the globe, temperature observing frameworks seen a strong surge in request. The developing selection of these items for time-to-time quiet temperature administration had majorly boosted the request for these items. Additionally, the expanding number of item dispatches further bolstered the temperature monitoring system market growth.

The COVID-19 widespread radically changed the scenario of temperature monitoring gadgets with a really high request for non-contact sensor-based thermometers to contain the spread of the infection. This was majorly due to the different preferences advertised by these gadgets over others. Infrared sensors-based thermometers encourage exact non-contact temperature estimation in healthcare applications. The essential frame of applications for this sort of thermometer incorporates the estimation of brow temperature, ear temperature, or skin temperature. The temperature recognizing component comprises various thermocouples on a silicon chip to degree an object's infrared energy.

With the high request for thermometers, fabricating companies are moving their center to the integration of progressed innovations and novel highlights in their items. The presentation of novel temperature monitoring products is anticipated to have a critical impact on the healthcare industry. A few points of interest related with these inventive items moreover back their expanding appropriation. A few of these focal points incorporate diminished reaction times, ease of utilization, continuous checking, and others.

Comprehensive Analysis of Temperature Monitoring System Market

The market arena on the division of product type is categorized as analog and digital. The digital devices for temperature monitoring marked as the dominant one. The market is fractioned into two on the basis of type namely non-contact thermometer and contact thermometers. The part non-contact thermometer was characterized as the remarkable. On the basis of end-user analysis, the market for temperature monitoring system is sectioned as home care settings, healthcare facilities and others. With growing adoption of thermometer with aim to cure patients, the healthcare facilities to soar high in the market arena.

The temperature monitoring system market share of the North American territory stood at a valuation of USD 0.64 billion in 2023. The dominance of the region is inferable to the expanding predominance of irresistible infections, such as COVID-19, flu, and others, in this manner boosting the appropriation of temperature checking frameworks. For occurrence, concurring to the Centers for Infection Control and Prevention (CDC), in July 2020, around 3.8 million affirmed cases of COVID-19 were detailed within the U.S. Additionally, the presence of key players working within the region will encourage boost temperature observing framework deals.

The market structure is divided due to the strong item portfolio of temperature monitoring framework producers are namely characterized as: 3M (U.S.), Masimo (U.S.), Geratherm (Germany), Toshiba (Japan), Omron Healthcare (Japan), Exergen Corporation (U.S.), A&D Company (Germany) and Koninklijke Philips N.V. (Netherlands). Besides, the number of companies centering on the dispatch of non-contact thermometers has expanded exponentially amid the widespread, coming about within the accessibility of a number of brands.

Within the month of April 2023, the company Masimo received the U.S. FDA endorsement for its Rad-G with temperature, a handheld screen that gives clinically demonstrated SET® pulse oximetry, respiration rate from the pleth (RRp®), and other vital parameters nearby non-contact infrared clinical thermometry.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2019-2032

Base Year

2023

Estimated Year

2024

Forecast Period

2024-2032

Historical Period

2019-2022

Growth Rate

CAGR of 8.4% from 2024-2032

Unit

Value (USD Billion)

Segmentation

By Product

Digital Temperature Monitoring Devices

Analog Temperature Monitoring Devices

By Type

Contact

Non-Contact

By End-user

Healthcare Facilities

Home Care Settings

Others

By Region

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific

• Japan
• China
• India
• Australia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• South Africa
• GCC
• Rest of Middle East & Africa

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