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Patient Temperature Monitoring Market Expected to be Valued US$ 4.9 Billion by 2027, MarketsandMarkets™ Report

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Patient Temperature Monitoring Market Expected to be Valued US$ 4.9 Billion by 2027, MarketsandMarkets™ Report

January 04
20:00 2023
Patient Temperature Monitoring Market Expected to be Valued US$ 4.9 Billion by 2027, MarketsandMarkets™ Report
Patient Temperature Monitoring Market is projected to reach 4.9 billion by 2027 from USD 3.6 billion in 2022 growing at a CAGR of 6.4% according to a report by MarketsandMarkets™
Cardinal Health Inc. (US), 3M (US), Koninklijke Philips N.V. (Netherlands), Drägerwerk (Germany), Hill-Rom Holdings, Inc. (US), Becton, Dickinson and Company (US), Omron Healthcare Inc. (Japan)

The global patient temperature monitoring market is projected to reach USD 4.9 billion by 2027 from USD 3.6 billion in 2022, at a CAGR of 6.4% during the forecast period . Growth in this market is mostly driven by the rising incidence of infectious diseases coupled with increasing geriatric and pediatirc population along with growing demand for advanced temperature monitoring devices.

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Key Market Players

The key players in this market are Cardinal Health Inc. (US), 3M (US), Koninklijke Philips N.V. (Netherlands), Drägerwerk (Germany), Hill-Rom Holdings, Inc. (US), Becton, Dickinson and Company (US), Omron Healthcare Inc. (Japan), Masimo Corporation (US), Braun GmbH (Germany), Terumo Corporation (Japan), Paul Hartmann AG (Germany), Beurer GmbH (Germany), Microlife (Taiwan), Omega Engineering (US), iHealth (US), Briggs Healthcare (US), DeltaTrak Inc. (US), Exergen Corporation (US), Medisana GmbH (Germany), Geratherm Medical Ag (Germany), American Diagnostic Corporation (US), Nureca (India), A&D Medical (US), Actherm, Inc. (China), Cosinuss GmbH (Germany), Vandelay (SFT Technologies India Pvt Ltd) (India), Kinsa (US), Easytem Co., Ltd.(South Korea), Hicks Thermometers India Limited (India), and Sanomedics, Inc. (US).

Cardinal Health Inc. (US) held the leading position in the patient temperature monitoring market.The company has maintained a leading position in the market through its strong distribution networks across North America, Europe, the Asia Pacific, and Latin America.Caridnal Health has a strong direct and indirect distribution network across the globe. This supports in shielding its business from demand instabilities in various geographies.

“Handheld temperature monitoring devices segment accounted for the largest share of the patient temperature monitoring market, by product.”

The market is segmented into wearable continuous monitoring sensors, smart temperature monitoring patches, table-top temperature monitoring devices, handheld temperature monitoring devices, and invasive temperature monitoring devices. In 2021, the handheld temperature monitoring devices segment accounted for the largest share of the market. The handheld segment is further segmented into mercury, digital and infrared thermometer. The digital thermometers segment accounted for the largest share of the handheld temperature monitoring devices market. The large share of this segment can be attributed to the high precision, cost-effectiveness, portability, and ease-of-use offered by the devices.

“Non-invasive temperature monitoring segment accounted for the largest share in the market, by site.”

The patient temperature monitoring market has been segmented into invasive and non-invasive temperature monitoring. In 2021, the non-invasive temperature monitoring segment accounted for the largest share of the temperature monitoring market. The non-invasive temperature monitoring market is further categorized as oral, axillary & temporal artery and tympanic membrane temperature monitoring. Axillary temperature monitoring segment accounted for the largest share of the non-invasive temperature monitoring. Factors such as simple, fast and ease in accessibility is driving the growth of this market segment.

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“Pyrexia/fever segment accounted for the largest share in the market, by application.”

The patient temperature monitoring market has been segmented into pyrexia/fever, hypothermia, blood transfusion, anesthesia, and other applications. In 2021, the pyrexia/fever segment accounted for the largest share of the temperature monitoring market. The increasing prevalence of infectious diseases (such as influenza, HIV, malaria, common cold, infectious mononucleosis, and gastroenteritis), as well as the growing number of trauma and hemolysis cases is driving the growth of this application segment.

“Hospitals segment accounted for the largest share in the market, by end users.”

The patient temperature monitoring market has been segmented into hospitals, nursing facilities, home care settings, ambulatory care centers, and other end users. In 2021, hospitals are estimated to be the largest end users of the market. The hospitals segment is further segmented into operating rooms, emergency rooms, and intensive care units (ICUs). The emergency rooms (ERs) segment accounted for the largest share of the market by hospitals. Critically ill patients, such as patients suffering from severe burns and heart attacks is driving the growth of this segment.

“North America is the largest regional market for patient temperature monitoring.”

The global patient temperature monitoring market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America accounted for the largest share of the market. The large share of this region can be attributed to the highly developed healthcare systems in the US and Canada. Growing healthcare expenditure is also one of the major drivers for the hospital sector in the region. This is considered a positive indicator of market growth, as hospitals are the major end users of patient temperature monitoring devices.

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