USD 1.3 billion
Thermometer Market Size, Share, Growth Analysis, By Product(Mercury-based Thermometers, Mercury-free Thermometers), By Application(Medical, Industrial, Food, Laboratory), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2608 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
64
|Figures:
75
Thermometer Market Insights
Global Thermometer Market size was valued at USD 1.3 billion in 2019 and is poised to grow from USD 1.43 billion in 2023 to USD 2.8 billion by 2031, growing at a CAGR of 8.7% in the forecast period (2024-2031).
One of the main factors propelling this market expansion is the rise in infectious diseases, technical improvements, and increased use of non-contact infrared thermometers in various sectors.
The NCBI estimates that 7% of all respiratory infections that result in fever are caused by viral infections. In addition, 25% of adenovirus patients need to be hospitalized because of a high fever. Thus, it is predicted that the market will expand during the forecast period as a result of the rising incidence of infectious disorders.
Another element driving the market forward is the expansion of the food business. For instance, the Food & Drink Federation U.K. estimates that the U.K. food & beverage business generated about USD 38.14 billion in 2019, which is 2.3% greater than in 2019. Similar to this, the food and beverage sector in India contributes about 3% of the GDP, according to the India Brand Equity Foundation.
Non-contact infrared thermometers are needed in the food and beverage industry to measure the temperature of manufactured goods during production and storage. These goods must be produced and kept at a specific temperature because they are temperature-sensitive.
In addition, the growth of numerous industries, including healthcare, hospitality, and food & beverages, as well as an increase in the prevalence of infectious diseases worldwide, are anticipated to boost market expansion. The COVID-19 outbreak also contributed to the market's growth; however, with the release of the COVID-19 vaccine and a drop in COVID-19 cases, the expansion is anticipated to halt.
On the other hand, the hotel industry is anticipated to have significant development throughout the projection period since the lockdown has been lifted by practically all of the countries. As a result, it is anticipated that more fixed-mount non-contact infrared thermometers will be used in hotels, dining establishments, and other hospitality-related businesses, helping to drive the market's expansion to some extent.
US Thermometer Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
mercury free
Fastest Growth
mercury free
Growth Rate
8.7% CAGR
Global Thermometer Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Thermometer Market Segmental Analysis
Thermometer Market has been segmented based on product, application, and region. Based on the product, the Thermometer Market is segmented into mercury-based thermometers and mercury-free thermometers. Based on the application, the Thermometer Market is segmented into medical, industrial, food, laboratory, and others. Based on region, the thermometer market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Thermometer Market Analysis by Product
Due to its widespread use and user-friendliness, the mercury-free thermometers segment has dominated the market and accounted for 64.2% of all sales in 2021. Since they give more accurate readings and don't pose any environmental risks related to mercury, mercury-free thermometers like IR radiation thermometers and digital thermometers are expected to obtain a sizable market share. Mercury-free thermometer sales are also anticipated to expand significantly by 2028, with a CAGR of 11.3%. Digital thermometers, infrared radiation thermometers, and other types are further divided into this category.
While mercury-based thermometers, such as liquid-in-glass thermometers, are simple to use and frequently used in labs. However, due to mercury's toxic properties, nearly 20 states have outlawed its usage since 2001, particularly for medicinal purposes. In the upcoming years, more strict laws on the usage of these tools are anticipated to be put into place, limiting the use of mercury-based thermometers in a variety of industries. For instance, Analytical Technology and Control Limited will stop offering mercury-in-glass thermometers that have received ASTM approval and will instead start offering spirit-filled thermometers to their clients.
Global Thermometer Market By type 2021 (%)
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Thermometer Market Regional Insights
North America dominated the global thermometer market in 2021 with a 34.45% share. The market is expanding as a result of several input factors, including increased healthcare spending and the growing older population.
The government-sponsored initiatives, including those of the NIH and WHO, as well as healthcare camps intended to promote better fitness and raise awareness of communicable diseases, are anticipated to further accelerate the growth of the market.
Up until everyone is immunized, the most recent rule for coronavirus screening is to monitor body temperature. The over-the-counter retailing of these temperature meters within the consumer market is growing as a result of the fact that, along with the US, the society spread started in the majority of countries in the world. Deep-seated healthcare systems and rising consumer demand for non-reusable thermometers are projected to drive the market in North America.
Global Thermometer Market By Geography, 2021-2028
- Largest
- Fastest
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Thermometer Market Dynamics
Thermometer Market Driver
- Market expansion is influenced by rising demand for precise medical equipment and a need for particular temperature conditions. The demand for thermometers is expected to increase during the projected period due to an increase in medical diseases that require precise measurement of body temperature for treatment planning and requirements for specific temperature conditions in various sectors. In the upcoming decade, it is also projected that a rise in health consciousness and rising healthcare costs will fuel market expansion.
- The increasing prevalence of fever-producing target illnesses such as swine flu, dengue, typhoid, and malaria is predicted to have a significant impact on the market. One of the most deadly illnesses and a major cause of death worldwide is malaria. The World Malaria Report 2019 estimates that 229 million cases of malaria were seen worldwide in 2019. Furthermore, people are accepting temperature monitoring devices more widely because of quick technological improvements in this field.
Thermometer Market Restraint
- The first-generation forehead thermometer pistols were hastily distributed to stop the spread of COVID-19. They weren't made to resist extreme humidity and warmth. As a result, as they were transported around the world, primarily from China, several problems developed, including challenges with instability and measurement accuracy. To meet the need for inexpensive infrared thermometers around the world, some Chinese OEMs produce these devices, but they fall short in terms of thermopile sensor precision and quality, ADC accuracy, and temperature adjustment algorithm. These thermometers were returned by international customers, mostly from Russia and Europe, due to their variable performance in extreme temperatures and high humidity circumstances. Their sensors weren't sensitive enough, which led to inaccurate results.
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Thermometer Market Competitive Landscape
The creation of new products as well as mergers and acquisitions are among these businesses' main strategic endeavors to meet the expanding consumer needs. The leading firms' primary methods for gaining the largest market share and surviving competition in the industry also include the launch of innovative and cost-effective alternatives. Along with several acquisitions, the businesses are also growing regionally to serve the untapped thermometer market. For instance, Exergen Corporation unveiled the PEKO thermal dynamic management solution in January 2019. With the help of this technology, firms will be able to expand their industrial operations without risk, as long as the processing temperatures remain within the specified ranges. Therefore, it is anticipated that such activities will increase the company's market revenue during the anticipated term.
Top Players in the Global Thermometer Market
- Braun GmbH
- Microlife Corporation
- Omron Healthcare
- Geratherm Medical AG
- Kaz Inc.
- Beurer GmbH
- Exergen Corporation
- A&D Medical
- Hicks Thermometers India Limited
- Mabis Healthcare Inc.
- Easytem Co. Ltd.
- Welch Allyn Inc.
- Briggs Healthcare
- Thermofisher Scientific
- Riester GmbH
- American Diagnostic Corporation
- Choicemmed
- Medline Industries Inc.
- Rossmax International Ltd.
- Hua'an Medical Equipment Co. Ltd.
Thermometer Market Recent Development
- In July 2021, iGear, a renowned Indian brand for gadgets and smartphone accessories, announced the launch of its fully automated contactless infrared thermometer. The product - Thermo Check - can be mounted on a wall or on a tripod at the entrances of various institutions to monitor the temperatures of visitors completely autonomously.
- In January 2021, Fitgo announced the launch of a new range of infrared thermometers equipped with the latest technology. These new thermometers are equipped with a backlit display, fever alarm, memory recalls, and other advanced features.
- In May 2020, Worldwide Care Capital Corp's portfolio organization ViraxClear in a joint endeavor with Shanghai Biotechnology Devices Ltd concluded a Letter Of Intent (LOI) with Phyto Pharma Ltd for the stock of 5,000 FDA Registered and CE stamped infrared thermometer units available to be purchased in North Africa.
Thermometer Key Market Trends
- One of the most notable factors that have influenced the growth prospects in the thermometer market is the rise in medical indications for the necessity for temperature monitoring. In the last few decades, the use of thermometers by patients, caregivers, and healthcare professionals like clinicians has steadily increased. The rising incidence of several infectious diseases, particularly parasitic illnesses like malaria and dengue. The occurrence of these disorders has significantly increased, particularly in developed countries, which is boosting the growth potential for thermometer manufacturers. Although there is a need, some low- and middle-income regions, particularly those defined by a lack of competent medical infrastructure, have proven a need. As a result, producers, retailers, and sellers in the thermometer market have latent prospects.
Thermometer Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, by product, the mercury-free thermometer segment dominated the global thermometer market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, North America dominated the global thermometer market owing to the region's increased healthcare spending and the growing older population.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.3 billion |
| Market size value in 2031 | USD 2.8 billion |
| Growth Rate | 8.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Thermometer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Thermometer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Thermometer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Thermometer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Thermometer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Thermometer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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