Asia-pacific Thermometer Market Forecast 2023-2032

Asia-pacific Thermometer Market Forecast 2023-2032

KEY FINDINGS
The Asia-Pacific thermometer market is set to record a CAGR of 8.45% during the forecast period, 2023-2032. COVID-19 expedited innovation in healthcare technology, resulting in the emergence of sophisticated thermometers and opening up avenues for expanding the market.

MARKET INSIGHTS
Australia & New Zealand, Malaysia, China, South Korea, India, Singapore, Japan, and Rest of Asia-Pacific are assessed for the Asia-Pacific thermometer market growth analysis. Japan's thriving manufacturing sector, a fundamental pillar of its economy renowned as one of the world's ""Manufacturing Superpowers,"" provides a fertile environment for the expansion of the thermometer market. In the fiscal year 2019-20, the manufacturing industry contributed approximately 20% to the overall GDP, primarily driven by key players like the automotive sector. This flourishing industrial landscape generates significant demand for industrial thermometers, which are crucial for precision in manufacturing processes.

Further, in the healthcare domain, data from Japan's Ministry of Health, Labour and Welfare (""MHLW"") for the year 2020 indicated that the Japanese market for medical devices reached a total of $38 billion. The rising healthcare expenses attributed to an aging population and advanced medical practices are fueling the growth in healthcare expenditures.

Malaysia's strong medical device manufacturing industry, its resilient healthcare system, and its aging population all contribute to the growth opportunities in both the medical and industrial thermometer markets. The thriving medical device manufacturing sector in Malaysia, particularly within the ASEAN region, along with the government's commitment to promoting growth, lays the foundation for the thermometer market's expansion. The government's generous incentives for investors to engage in medical device production in Malaysia underscore its acknowledgment of the industry's substantial growth prospects.

COMPETITIVE INSIGHTS
Some of the prominent firms in the market are Exergen Corporation, FAIRHAVEN HEALTH, EASYWELL BIOMEDICALS, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

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