The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The patient temperature monitoring market has witnessed significant growth, expanding from $4.59 billion in 2023 to $4.96 billion in 2024, with a compound annual growth rate (CAGR) of 8.0%. Several factors contribute to this growth:

• Patient Safety Concerns: Increasing awareness regarding patient safety necessitates accurate temperature monitoring.
• Prevalence of Fever-Related Conditions: Rising instances of fever-related illnesses drive the demand for temperature monitoring devices.
• Advancements in Monitoring Devices: Technological innovations enhance the precision and efficiency of temperature monitoring.
• Increased Hospitalization Rates: Higher hospital admissions amplify the need for continuous temperature monitoring.
• Rise in Chronic Diseases: Chronic illnesses often require vigilant temperature management, boosting market demand.
• Regulatory Standards and Compliance: Stringent regulations mandate precise temperature monitoring for patient care.

Anticipated Growth and Trends

The patient temperature monitoring market is poised for robust expansion, with projections indicating a growth to $6.9 billion by 2028, at a CAGR of 8.6%. Expected growth drivers and trends include:

• Remote Patient Monitoring (RPM) Growth: The adoption of RPM solutions drives the demand for remote temperature monitoring.
• Point-of-Care Temperature Monitoring: Convenient point-of-care devices facilitate real-time temperature assessment.
• Focus on Infection Control: Heightened focus on infection prevention accentuates the need for accurate temperature monitoring.
• Smart Healthcare Infrastructure: Integration of smart technologies enhances patient monitoring capabilities.
• Population Health Management Initiatives: Population health initiatives prioritize preventive care, fueling the need for temperature monitoring.
• Focus on Patient Comfort and Compliance: Patient-centric designs enhance user experience and adherence to monitoring protocols.
• Major Trends: Contactless monitoring, wireless and Bluetooth connectivity, wearable devices, data analytics, and predictive monitoring contribute to market evolution.

Ambulatory Connected Patient Monitoring System

Major players in the patient temperature monitoring market introduce innovative products to meet evolving healthcare needs:

• Ambulatory Connected Patient Monitoring System: Wearable technology enables remote monitoring of vital signs and medical parameters.
• Dozee Pro Ex: Launched by Dozee, this system offers continuous monitoring of vital signs, integrating AI-powered early warning systems for clinical alerts.

Baxter’s Acquisition Expands Portfolio

In December 2021, Baxter International Inc. acquired Hill-Rom Holdings, Inc., broadening its patient temperature monitoring portfolio:

• Strategic Acquisition: Baxter’s acquisition enhances its product offerings and reinforces its commitment to transforming healthcare.
• Hill-Rom Holdings, Inc.: A leading medical technology company providing patient temperature monitoring solutions.

Segmentation and Regional Outlook

The patient temperature monitoring market is segmented based on type, site, application, and end-user:

1. By Type: Contact-based Temperature Monitoring Systems, Non-Contact-based Temperature Monitoring System
2. By Site: Non-Invasive Temperature Monitoring, Invasive Temperature Monitoring
3. By Application: Pyrexia/Fever, Hypothermia, Blood Transfusion, Anesthesia, Other Applications
4. By End User: Hospital and Surgical Centers, Nursing Facilities, Ambulatory Care Centers, Home Care, Other End Users

• Regional Dynamics: North America dominated the market in 2023, while Asia-Pacific is anticipated to witness the highest growth in the forecast period.

In summary, the patient temperature monitoring market is experiencing significant growth driven by the escalating incidence of diseases, technological advancements, and a focus on patient-centered care. With innovative solutions and strategic acquisitions, companies aim to meet evolving healthcare demands and improve patient outcomes worldwide.

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