Global patient temperature monitoring market is expected to reach US$ 4,386.01 Mn by 2027 from US$ 2,946.47 Mn in 2019; it is estimated to grow at a CAGR of 5.2% during 2020–2027. The report provides trends prevailing in the global patient temperature monitoring market and the factors driving the market growth along with those restraining it.
Patient temperature monitoring deals with the keeping an eye on temperature variations in the patients. Rise in temperature in commonly observed indication during viral infection or any other critical health related condition. Hence, it is an important aspect for disease diagnosis. There are several number of products available in the market as per requirement. With the advent of technological advancements, the temperature monitoring is gradually shifting towards remote patient temperature monitoring.
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Market leaders operating in the market have undertaken various organic growth strategies in the patient temperature monitoring market. The patient temperature monitoring market majorly consists of the players such 3M, American Diagnostic Corporation, Cardinal Health Inc., Drägerwerk AG & Co. KGaA, Oura, Ava Science Inc, Tempdrop LLC., Braun GmbH (P&G Brand), Biofourmis Inc., Fertility Focus Limited, Fairhaven Health, LLC, VivoSensMedical GmbH, Valley Electronics AG, Cycle Technologies, and Natural Cycles Nordic AB amongst others.
Further, the market for handheld temperature monitoring devices is subsegmented into digital thermometers, infrared thermometers, and mercury thermometers. In 2019, the handheld temperature monitoring devices accounted for the largest share of the global patient temperature monitoring market. Increasing adoption of handheld thermometers due to better ergonomics and sufficient product availability worldwide are driving the growth of the market for this segment. Further, the market for handheld temperature monitoring devices is expected to grow at the fastest CAGR during the forecast period.
The global patient temperature monitoring market, based on product, 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. The market for table-top temperature monitoring devices is further segmented into noninvasive vital signs monitoring devices and continuous core body temperature monitoring devices.
Several organic approaches, such as product launches, and expansion/relocation in the patient temperature monitoring market, have resulted in the positive growth of the market. Product launches help the company to strengthen its product offering and the customer base, which allows the company to hold a strong position in the market. Similarly, utilizing expansion activities, it is easy to venture into untapped economies and use the opportunities being offered.
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