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What Are The Forecasted Market Size Estimates For The Patient Temperature Monitoring Market Between 2025 And 2029?
The patient temperature monitoring market has seen substantial expansion in recent years. It is projected to increase in value from $4.83 billion in 2024 to $5.14 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.4%. This historical growth can be linked to patient safety concerns, prevalence of fever-related conditions, advancements in temperature monitoring devices, increased hospitalization rates, rise in chronic diseases, and regulatory standards and compliance.
The patient temperature monitoring market is set for considerable expansion over the next few years, with projections indicating it will reach “$7.39 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 9.5%. This anticipated growth during the forecast period can be attributed to several factors, including the expansion of remote patient monitoring (rpm), the widespread use of point-of-care temperature monitoring, a heightened focus on infection control, the development of smart healthcare infrastructure, various population health management initiatives, and an increased emphasis on patient comfort and compliance. Prominent trends expected in this period encompass contactless temperature monitoring, the adoption of wireless and Bluetooth technologies, the emergence of wearable temperature monitoring devices, the application of data analytics and predictive monitoring, and continuous improvements in accuracy and precision.
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What Are The Main Drivers Boosting The Patient Temperature Monitoring Industry’s Expansion?
The increasing occurrence of illnesses is projected to drive the expansion of the patient temperature monitoring market in the future. Illnesses are conditions resulting from organisms like bacteria, viruses, fungi, or parasites. Certain infectious conditions can spread among individuals, while others are carried by insects or animals. A shift in temperature is a vital element in identifying sickness. It is foreseen that the link between temperature fluctuations and the presence of illness will boost the uptake of monitoring systems. For example, data from September 2023, provided by The World Health Organization, a Switzerland-based specialized agency of the United Nations focusing on international public health, indicated that in 2022, noncommunicable diseases (NCDs) caused 41 million deaths globally annually, accounting for 71% of all fatalities. Furthermore, 17.9 million individuals succumb to cardiovascular illnesses each year, positioning them as a major factor in NCD-related deaths. Cardiovascular illness stood as the primary cause of mortality, succeeded by cancer (9.3 million), respiratory conditions (4.1 million), and diabetes (1.5 million). Consequently, the growing widespread presence of diseases will persistently propel the patient temperature monitoring market.
What Are The Key Segments In The Patient Temperature Monitoring Market?
The patient temperature monitoringmarket covered in this report is segmented –
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 Or 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
Subsegments:
1) By Contact-Based Temperature Monitoring Systems: Digital Thermometers; Infrared Ear Thermometers; Glass Thermometers; Disposable Thermometers
2) By Non-Contact-Based Temperature Monitoring Systems: Forehead (Temporal) Thermometers; Infrared Non-Contact Thermometers; Wearable Temperature Sensors
What Are The Major Trends Driving The Growth Of The Patient Temperature Monitoring Market?
Leading companies in the patient temperature monitoring market are adopting new products, such as ambulatory-connected patient monitoring systems, to maintain their market position. An ambulatory-connected patient monitoring system is a wearable technology designed to wirelessly collect and transmit real-time health data from patients, facilitating remote oversight of vital signs and medical parameters outside conventional healthcare settings. For instance, in October 2023, Dozee, an India-based company focused on remote patient monitoring, launched Dozee Pro Ex. Dozee Pro Ex provides continuous monitoring of patient vitals including ECG rhythm, blood pressure, heart rate/pulse rate, oxygen saturation, respiration rate, and temperature. This System also features an artificial intelligence (AI)-powered early warning system that tracks trends in vital parameters and issues timely alerts for potential clinical deterioration.
Who Are The Top Performing Companies In The Patient Temperature Monitoring Market In Recent Years?
Major companies operating in the patient temperature monitoring market are Cardinal Health Inc., 3M Company, Koninklijke Philips NV, Drägerwerk AG & Co., Microlife Corporation, Becton Dickinson and Company, Omron Healthcare Inc., Masimo Corporation, Braun GmbH, Terumo Corporation, Paul Hartmann AG, Beurer GmbH, Easytem Co. Ltd., Omega Engineering Inc., iHealth Lab Inc., DeltaTrak Inc., Exergen Corporation, Medisana GmbH, Geratherm Medical AG, Nureca Healthcare Private Limited, A&D Company Ltd., Actherm Inc., Cosinuss GmbH, Vandelay Brands Limited, Kinsa Inc., Abbott Laboratories, American Diagnostic Corporation, CAS Medical Systems Inc., C.R. Bard Inc., Edwards Lifesciences Corporation, GE HealthCare Technologies Inc., Hill-Rom Holdings Inc., Honeywell International Inc., ICU Medical Inc., Medtronic PLC, Natus Medical Incorporated, Nonin Medical Inc., Procter & Gamble Co., Quest Products Inc., Riester GmbH & Co. KG, Rossmax International Ltd., Smiths Medical International Ltd., Spacelabs Healthcare LLC, SunTech Medical Inc., Thermomedics Inc., Tyco Healthcare Group Canada Inc., Vital Signs Inc., Vyaire Medical Inc., Welch Allyn Inc., ZOLL Medical Corporation
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Which Region Is Expected To Witness The Fastest Growth In The Patient Temperature Monitoring Market?
North America was the largest region in the patient temperature monitoring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the patient temperature monitoring market report forecast period. The regions covered in the patient temperature monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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