United States, Rockville MD, Aug. 18, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global patient temperature monitoring market is expected to reach a valuation of US$ 8.2 billion by 2026, rising at a CAGR of 10% from 2022 to 2026.
A portable device with the ability to independently record temperature over a short period is called a patient temperature monitor. The high patient pool with long-term diseases and growing awareness of remote monitoring in outpatient settings will open up opportunities for market players. Rising prevalence of infectious diseases; rapid uptake of portable patient temperature monitors in hospitals, clinics, and home care settings; favorable reimbursement policies in healthcare systems, and increasing initiatives by government organizations to enhance awareness of infectious and chronic diseases are driving market expansion.
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Several chronic disorders necessitate accurate measurement and monitoring of body temperature by doctors or other users to choose the most effective course of treatment, which is driving market expansion. Growing emphasis on health and fitness, rising senior population, and greater awareness of self-care management, all contribute to an increase in demand for these devices on a global scale.
An increase in the frequency of surgical procedures requiring anaesthetic administration, which causes a drop in body temperature and necessitates the use of temperature control systems to prevent the development of intra-operative hypothermia, is another factor driving market evolution.
How is the U.S Driving Sales of Patient Temperature Monitoring Devices?
“Growing Usage of Wireless Temperature Monitoring Systems in the U.S.”
The U.S. market is expanding as a result of the increased incidence of diabetes and cancer, ongoing research into patient monitoring technology, and the widespread use of wireless temperature monitoring systems.
The U.S. market is expanding because of strict regulatory standards for medication research, the key presence of patient temperature monitoring device companies, rising health awareness, and an expanding geriatric population.
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Key Segments Covered in the Patient Temperature Monitoring Industry Survey
- By Product :
- Handheld
- Table-Top
- Invasive
- Smart
- Wearable
- Handheld
- By Application :
- Pyrexia/Fever
- Hypothermia
- Blood Transfusion
- Anesthesia
- Others
- Pyrexia/Fever
- By End User :
- Hospitals
- Home Care Settings
- Nursing Facilities
- Ambulatory Care Centers
- Others
- Hospitals
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America
Winning Strategy
Key companies are focused on the introduction of novel temperature monitoring systems, which has resulted in the availability of several brands. This aspect has increased the population's use of temperature monitoring systems, which helped businesses raise their revenue streams.
For instance,
- In 2021, The FORXAI Temperature Monitoring App (TMA), a temperature monitoring system for collecting and controlling temperature data acquired constantly by a thermal edge camera, was launched by Konica Minolta Inc.
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Key players in the Patient Temperature Monitoring Market
- Beurer GmbH
- Briggs Healthcare
- Masimo Corporation
- Medtronic plc.
- Microlife Corporation
- Omron Healthcare, Inc.
- Actherm Medical Crop.
- American Diagnostic Corporation
Key Takeaways from Patient Temperature Monitoring Market Study
- The global patient temperature monitoring market is currently valued at US$ 5.6 billion.
- Sales of table-top temperature monitoring devices are expected to rise at a CAGR of 8% from 2022 to 2026.
- Market in Canada is projected to increase at a CAGR of 9.7% through 2026.
- Market in Japan is anticipated to expand at a CAGR of 9% over the forecast period.
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