PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1643613
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1643613
The global patient temperature monitoring market is experiencing significant growth, with its size reaching $4.1 billion in 2024 and projected to hit $7.2 billion by 2032, advancing at a compound annual growth rate (CAGR) of 7.2%. This growth is driven by the non-invasive, non-traumatic, and hygienic nature of these devices, which offer simple and accurate temperature data interpretation.
The rising prevalence of infectious and chronic diseases, such as cancer, diabetes, and cardiovascular conditions, is a major factor boosting market growth. For instance, a significant portion of the U.S. population suffers from chronic conditions, with 6 in 10 individuals having at least one, and 4 in 10 having two or more. Monitoring body temperature is essential for assessing health, driving demand for these devices.
Key Insights
Handheld temperature monitoring devices accounted for the highest revenue, of USD 1.7 billion, in 2024, due to their convenience and widespread availability.
Technological advancements have brought digital thermometers designed for precise and reliable body temperature assessments. For example, the launch of non-contact infrared thermometers has allowed for quick and accurate readings with minimal patient contact.
The pyrexia/fever application segment held the largest share in 2024, supported by the increasing geriatric population and the rising incidence of trauma and hemolysis cases.
North America dominated the market, accounting for $1.9 billion in 2024, with projections of continued growth due to its robust healthcare infrastructure and substantial investments in medical technology.
Non-invasive monitoring solutions were the highest revenue generator, contributing $ 2.5 billion in 2024, with growth driven by improved patient comfort, accessibility, accuracy, and ease of use.
The competitive landscape features prominent players focusing on innovation and strategic partnerships to enhance product offerings. Companies are investing in the development of advanced temperature monitoring technologies to cater to evolving healthcare needs.