Global Thermometer Market Size By Product (Mercury Based Thermometers, Mercury Free Thermometers), By Application (Industrial, Laboratory, Food, Medical), By Geographic Scope And Forecast
Report ID: 289615|No. of Pages: 202
Global Thermometer Market Size By Product (Mercury Based Thermometers, Mercury Free Thermometers), By Application (Industrial, Laboratory, Food, Medical), By Geographic Scope And Forecast
Thermometer Market Size And Forecast
Thermometer Market size was valued at USD 1.45 Billion in 2021 and is projected to reach USD 3.4 Billion by 2030, growing at a CAGR of 9.9% from 2023 to 2030.
Increasing health awareness and patient awareness are among the major factors contributing to the growth of the market. With the growing demand for self-care, companies like Nexcare and Terumo Corporation have introduced portable products that are user-friendly and easy for any patient to adopt. The Global Thermometer Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Thermometer Market Definition
A thermometer is made up of two fundamental components: a sensor that can adjust to temperature changes and a mechanism that can translate those changes into a numerical value. Numerous disciplines, including meteorology, medicine, and science, use thermometers extensively. Thermometers use a range of physical processes to measure temperature. Thermometers are used in a wide variety of industrial applications, particularly measuring systems. Road thermometers are used in cold locations to assess and detect when ice conditions exist. The temperature inside appliances including water heaters, air conditioners, freezers, and heaters is controlled by thermocouples.
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Global Thermometer Market Overview
Increasing health awareness and patient awareness are among the major factors contributing to the growth of the market. With the growing demand for self-care, companies like Nexcare and Terumo Corporation have introduced portable products that are user-friendly and easy for any patient to adopt. In addition, the market is expected to boost the increasing reliance of healthcare professionals on the use of thermometers to monitor the health status of patients. Awareness among other end users such as the pharmaceutical, food, and chemical industries is also increasing. Maintaining specific temperatures at various stages of product development is a fundamental requirement in these industries. These factors are estimated to fuel the growth of the market during the forecast period.
Moreover, A barrier to the growth of the global Thermometer Market is the thermometer’s inaccurate results.
In addition, rapid technological advancements have led to the launch of innovative products that are expected to accelerate market growth during the forecast period. Advances include Exergen Corporation’s TAT-2000C temporary thermometer, which can be used to measure body temperature by filming a child’s forehead. In addition, American Diagnostics Corporation has launched the Adtemp 429 thermometer, which measures temperature without contact with the skin, minimizing the risk of cross-contamination.
Thus, increasing demand for easy-to-use, sensitive, and fast thermometers is expected to drive the market. In addition, thermometers are required in the food industry to check temperatures to prevent contamination and spoilage of food and beverages. Companies like TEL-TRU provide a variety of NSF-certified poultry/meat thermometers, food testing, and grill thermometers. Thus, these thermometers help in maintaining the quality of temperature-sensitive foods, thereby supporting the growth of the market.
Global Thermometer Market Segmentation Analysis
The Global Thermometer Market is Segmented on the basis of Product, Application, and Geography.
Thermometer Market, By Product
- Mercury Based Thermometers
- Mercury Free Thermometers
Based on Product, the market is segmented into Mercury Based Thermometers and Mercury Free Thermometers. Due to the enormous demand, it has seen from potential customers around the world, the category of mercury-free thermometers has grown to be the largest. Comparatively speaking to the other market alternatives, mercury-free thermometers are easier to use. The pandemic’s emergence helped the market for mercury-free thermometers rise since there was a heightened chance of the infection spreading through contact. The use of mercury-free thermometers was supported by the government in order to stop the spread of infection among medical personnel, which enabled the market to generate a sizable profit.
Thermometer Market, By Application
- Industrial
- Laboratory
- Food
- Medical
- Others
Based on Application, the market is segmented into Industrial, Laboratory, Food, Medical, and Others. Because there are so many consumers in this particular industry that use thermometers on a daily basis for examination, the medical application has accounted for the greatest revenue share segment. The use of cutting-edge parameters that assisted to produce precise outcomes is required by a healthcare infrastructure that is well-equipped. An important driving force behind the rising demand for sophisticated thermometers is the technical development that has been seen in the healthcare industry. As a result of infrared thermometers’ quick adoption, the industrial sector has had a profitable boom.
Thermometer Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
Based on Geography, the Global Thermometer Market is classified into North America, Europe, Asia Pacific, and Rest of the world. In 2021, North America held a 34.4% sales share and led the Thermometer Market. Higher healthcare costs and an aging population are two of the main factors behind its greatest market share. The market is expected to be further boosted by healthcare camps and efforts launched by government organizations like WHO and NIH to raise awareness about infectious illnesses and support the maintenance of better health. For instance, body temperature monitoring is the current norm for coronavirus infection detection until a vaccine is available. As community expansion begins in the majority of countries, including the United States, the consumer market is witnessing a growth in over-the-counter thermometer sales. Additionally, it is anticipated that North America’s developed healthcare system and rising disposable thermometer demand will propel the market.
Key Players
The “Global Thermometer Market” study report will offer useful information with a focus on the global market. The major players in the market are RG Medical Diagnostics, Fairhaven Health, Terumo Corporation, Welch Allyn Inc., American Diagnostic Corporation, Actherm, Inc., Briggs Healthcare, Exergen Corporation, Microlife Corporation, Medline Industries, Inc., and OMRON Health Inc.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
- In March 2020 In order to assess a person’s forehead temperature, Delta Trak produced a non-contact infrared thermometer. This invention proved to be a significant advance during the pandemic and was endorsed by the CE and FDA.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Thermometer Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in Global Thermometer Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2018-2030 |
| Base Year | 2021 |
| Forecast Period | 2023-2030 |
| Historical Period | 2018-2020 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | RG Medical Diagnostics, Fairhaven Health, Terumo Corporation, Welch Allyn Inc., American Diagnostic Corporation, Actherm, Inc., Briggs Healthcare, Exergen Corporation, Microlife Corporation, Medline Industries. |
| Segments Covered |
|
| Customization scope | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
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Data Collection Matrix
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Industry Analysis Matrix
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