United States, Rockville MD, Aug. 19, 2022 (GLOBE NEWSWIRE) -- As of 2022, the global medical thermometers market enjoys a valuation of US$ 2.2 billion and is projected to increase at a high CAGR of 8% over the next four years, as per detailed industry research by Fact.MR, a market research and competitive intelligence provider.
Increasing prevalence of infectious diseases and rising focus on healthcare are anticipated to prominently drive medical thermometers market growth over the coming years. Rising geriatric population and growing popularity of home care are also expected to favor market expansion over the next four years.
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Key medical thermometer manufacturing companies are anticipated to focus on product innovation and the launch of novel products to increase their sales and strengthen their market presence.
- Neptune, a global health and wellness organization, in May 2020, announced the launch of a new infrared thermometer. The company launched Neptune Air to meet the high demand created by the emergence of the global COVID-19 pandemic.
Which Type of Medical Thermometers Will be Popular Going Forward?
“Infrared Thermometers to Witness Higher Demand Growth”
The global medical thermometers market based on product type is segmented into digital thermometers, infrared thermometers, and other product types.
The digital thermometers segment is projected to account for a significant market share across the forecast period owing to their rising popularity and accuracy. Increasing technological proliferation is anticipated to propel digital thermometer demand at a CAGR of around 7% throughout the forecast period.
Rising focus on patient safety and increasing focus on reducing cross-contamination are prime factors that are expected to favor sales of infrared thermometers over the next four years. The emergence of the COVID-19 pandemic in 2020 bolstered the demand for infrared thermometers and other non-contact thermometers which, is expected to foster through 2026.
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Key Segments Covered in the Medical Thermometer Industry Survey
- By Product Type :
- Digital Thermometers
- Infrared Thermometers
- Other Product Types
- Digital Thermometers
- By End User :
- Hospitals
- Clinics
- Other End Users
- Hospitals
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
- North America
Competitive Landscape
Key suppliers of medical thermometers are expected to focus on new product launches to maximize their sales potential and increase their revenue generation capacity.
- In May 2022, Exergen Corporation, a leading name in the medical thermometer industry, announced the launch of a new thermometer made for the Indian market. The TAT-2000 temporal artery thermometer is easy to use and highly accurate.
This latest research by Fact.MR, a market research and competitive intelligence provider, lists all the recent innovations in the medical thermometers industry landscape and also provides a comprehensive account of all the opportunities in the medical thermometers marketplace.
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Key players in the Medical Thermometer Market
- A&D Company Limited
- Citizen Systems Japan Co. Ltd.
- Microlife Corporation
- American Diagnostic Corporation
- Briggs Healthcare
- Actherm Medical Corp.
- Exergen Corporation
- RG Medical Diagnostics
Key Takeaways from Medical Thermometer Market Study
- The global medical thermometers market is valued at US$ 2.2 billion in 2022.
- Demand for medical thermometers is slated to rise at a notable CAGR of 8% CAGR from 2022 to 2026.
- By 2026, the global market is predicted to account for a US$ 3 billion valuation.
- Rising prevalence of infectious diseases, increasing focus on preventive healthcare, rising healthcare expenditure, and technological advancements are expected to significantly drive medical thermometers market growth.
- The market for medical thermometers in Japan is projected to evolve at 6% CAGR through 2026.
- The U.S. medical thermometers market is currently valued at US$ 900 million.
- The market in China is projected to expand at a CAGR of 8.4% and reach an approximate valuation of US$ 300 million by 2026.
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