Market Trends of Medical Thermometer Industry
This section covers the major market trends shaping the Medical Thermometer Market according to our research experts:
Digital Segment is Expected to Hold a Major Market Share in the Medical Thermometer Market
The increasing growth of the segment is due to the rising awareness of the advantages of digital thermometers. Mercury-free digital thermometers are easier to handle, safer, and more accurate. According to the data published by Southern Trading Company in July 2022, digital infrared thermometers have several advantages over traditional glass mercury thermometers, such as faster results, better accuracy, and safer use. Apart from the advantages of digital mercury-free thermometers, the major factors boosting the segment's growth are the increasing prevalence of infectious diseases, where measuring body temperature is the main diagnosis, and accurate measurement of the temperature is required. According to WHO, in 2020, there were about 241 million cases of malaria worldwide. The major symptoms of malaria are fever, headache, and chills. With the increasing prevalence of such diseases, the market is expected to witness significant growth.
Innovative product launches are also expected to drive the growth of this segment. For instance, in January 2022, Baracoda launched Bcool, the battery-free, mercury-free, eco-friendly connected thermometer. In July 2021, Hick launched the Hicks DT-12 digital thermometer with memory and beeper.
In June 2022, Exergen Corporation launched the TAT-2000 for professionals and the TAT-2000C for consumers at the medical fair in Mumbai, India. In July 2020, Detel Pro launched a digital thermometer, DT09. This intelligent digital thermometer has unique features, such as calibrating mode that helps adjust the temperature according to the environment.
Thus the above-mentioned factors are expected to drive the growth of the segment during the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market during the forecast period. The market's growth is supported by factors, such as the presence of key players, a high prevalence rate of infectious diseases in the region, increasing R&D activities, technological advances, and rising concerns of individuals regarding self-healthcare management. In this region, the United States has the maximum share due to supportive healthcare policies, a high number of patients, and a developed healthcare market. According to the CDC in April 2020, about 15.5 million people visit physician's offices with infectious and parasitic diseases as the primary diagnosis, in the United States. Also, according to data published in 2022 from MedAlertHelp, 5-20 percent of Americans have influenza each year. Additionally, according to information released by the CDC, the 2019-2020 flu season resulted in an overall total of 35 million illnesses, 380,000 hospitalizations, 20,000 fatalities, and 16 million medical visits. Such incidence of infectious diseases among the population and the rise in patient visits to healthcare facilities is expected to drive the demand for the medical thermometer, thereby contributing to the growth of the market in this region.
Additionally, innovative product launches are also expected to drive the growth of the market in this region. For instance, In February 2022 Calera launched a wearable thermometer. A miniaturized sensor and AI-based algorithm defined the Calera technology. Similarly, in October 2020 GreenTEG launched Core medical in the United States as a clinical thermometer.
Also, in October 2020, Masimo launched the Radius T continuous Thermometer for consumers. Wireless Radius T measures body temperature by continuously transmitting data and customizable temperature notifications to the User's smartphone. Such innovative and increasing product launches are expected to contribute to the growth of the market over the forecast period in the North American region.
Thus the above-mentioned factors are expected to drive the growth of the market during the forecast period in this region.
