Via a fresh intelligence study, Transparency Market Research (TMR)
reports that the global temperature monitoring devices market is
heavily dependent on technological advancements, and that the
competitive landscape will remain tilted towards those companies who
aggressively develop products that meet the desired outcomes. The
report observes that there is strong clinical needs for different
temperature monitoring modalities in hospitals. The caregivers are
forced to stock and depend on multiple temperature monitoring
methods, with each method introducing variation due to accuracy and
technique. The 3M Bair Hugger temperature monitoring system, formally
known as 3M SpotOn system, can be one such example. The device
provides a non-invasive method with accurate temperature measurement,
which can be used preoperatively and in any type of anesthesia.
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The report identifies 3M Company, Koninklijke Philips N.V.,
Drägerwerk AG & Co. KGaA, Cosinuss GmbH, Helen of Troy Limited,
Terumo Corporation, Welch Allyn, Inc., Omron Healthcare, Microlife
Corporation, C.R. Bard, and Briggs Healthcare as some of the
prominent participants of the global temperature monitoring devices
market. As per the projections of the TMR report, the demand in the
global temperature monitoring devices market will augment at a CAGR
of 4.1% during the forecast period of 2017 to 2025. Everything put
together, the temperature monitoring devices market, across the
world, will be worth US$3.23 bn by 2025, considerably up from its
evaluated valuation of US$2.27 bn in 2016.
Based on product-type, table top temperature monitoring devices,
which is further sub-segmented into non-invasive vital signs
monitoring devices and continuous core body temperature monitoring
devices, served the maximum demand, whereas non-invasive was most
in-demand technique. The global market continues to gain significant
share of the overall demand for temperature monitoring devices from
wellness application, while geographically, North America has been
detected a highly lucrative region. The developed countries of the
U.S. and Canada, who have robust healthcare infrastructure and high
adoptability-rate of new technology, dominate the demand from North
America temperature monitoring devices market.
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For proper care, vital signs monitoring including temperature
monitoring is more like the first line of treatment, helping
physicians to assess the health status of patients. Temperature
monitoring devices comprise of diverse product types, which are used
in various applications, including wellness and clinical. A major
chunk of product offering is seen among hand held temperature
monitoring devices segment that include digital thermometer and
infra-red aural thermometers, whereas the segment like wearable
continuous monitoring thermometers is characterized by increasing
product launches by emerging market players.
The global market for temperature monitoring devices is gaining
strong traction from the increasing number of new entrants in the
wearable segment. Their products offer continuous monitoring
thermometers and smart temperature patches. Demand for new and
improved temperature monitoring devices continues to rise, regardless
of the presence of existing branded devices. This is primarily due to
significant increase in the use of wearable health trackers, rising
adoption of high value table top temperature monitors among clinical
applications, and rising awareness for continuous patient vital signs
tracking to reduce the risk of emergency ICU admissions.
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As per the author of the report, the strengthening of market
penetration through distribution and licensing agreements with
leading distributors, along with value added service assistance that
offer real-time monitoring, primarily to the geriatrics, are major
opportunities for the global temperature monitoring devices market.
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