Infrared Thermometer Market Size to Generate Revenues of over $900 Million by 2025 – Arizton

Infrared thermometer market size is expected to grow at a CAGR of around 15% during the period 2019−2025.

Key Highlights Offered in the Report:
1. The market will post an absolute growth of around 133%, thus generating an incremental revenue of over $500 million worldwide by 2025.
2. Forehead is the largest segment in 2019. It is expected to add over $330 million to the global market by 2025, with over 38% of the revenue addition will be from North America.
3. In multipurpose thermometer, Latin America is the second largest segment in 2019 with more than 20% market share. However, North America is the fastest growing region with a CAGR of more than 14% during the forecast period.
4. By end-user, the medical segment is the largest contributor with more 50% of the market sales. It is expected to grow 3-fold by 2025, adding approximately $340 million to the market globally.
5. In the medical end-user segment, the adult category will drive the market with more than 70% of revenue contribution in 2019. The APAC will be the fastest growing region and will add around $44 million to segment by 2025.
6. US, Brazil, China, and Mexico the leading markets and will account for more than 50% of the revenue generation in 2019.

Key Offerings:
• Market Size & Forecast by Revenue | 2019−2025
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product type, application, and geography
• Competitive Landscape – Profile of 4 key vendors and 22 other vendors

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Infrared Thermometer Market – Segmentation

• The in-ear thermometers come with a disposable lens filter that helps to maintain hygiene, protects against cross-contamination, and ensures that ear wax doesn’t impact the accuracy of the reading. In terms of temperature accuracy, however, in-ear thermometers are reported to provide more accurate readings than forehead thermometers.
• The forehead thermometer is generally preferred for measuring temperature among children, who can be restless while measuring temperature, resulting in inaccurate readings. However, non-contact forehead thermometers offer a lot of convenience for the measurement of body temperature.
• The increasing demand for the latest healthcare devices in countries such as China and India, as well as the rising medical tourism in the region, is supporting the growth of the market. Other regions such as Europe and the Middle East & Africa, where the penetration is low, are expected to witness increased demand during the forecast period due to the increased availability and rising awareness.

Segmentation by Product Type
• Forehand
• In-ear
• Multipurpose
Segmentation by End-user
• Medical
o Adult
o Children
• Veterinary

Infrared Thermometer Market – Dynamics

Multifunction thermometers, which performs the function of both forehead and in-ear thermometers, is witnessing the rapid growth in the global market. The rising demand and sales of these devices are primarily owing to their functionalities and varying usage. These thermometers can be used to measure the temperature for both adults as well as children. The growing demand and rising sales for multifunction thermometers are expected to generate enormous growth opportunities for non-contact thermometers during the forecast period. Further, some of the models can also be used to measure the temperature of food, liquids, room, and other surfaces. Again, these thermometers can easily be switched from the in-ear to forehead modes and vice versa by simply removing or attaching the probe.

Key Drivers and Trends fueling Market Growth:
• Growth in Medical Tourism
• New Product Development
• Growing Prevalence of Healthcare Acquired Infections
• Ban of Traditional Mercury in Glass Thermometers

Infrared Thermometer Market – Geography

The US is the largest healthcare market in the world, with the highest per capita spending on healthcare services. The presence of leading healthcare equipment manufacturers and constant product innovations is primarily supporting the growth of the market in the region. Further, the increasing expenditure on preventive healthcare services and rising public and private investments in healthcare facilities are also driving the market for non-contact thermometers in this region. In Canada, the rising aging population is supporting the higher demand for healthcare services and equipment, thereby driving the market for non-contact thermometers in the country. With the rising economic development and increasing affordability, the demand for high-quality healthcare services and equipment are rising in the region. Further, countries such as Brazil and Mexico, which are the largest markets for healthcare facilities in the region, are among the top five destinations for medical tourism in the world.

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Segmentation by Geography
• North America
o US
o Canada
• Europe
o UK
o Germany
o France
• APAC
o China
o Japan
o India
• Latin America
o Brazil
o Mexico
• Middle East & Africa
o South Africa
o Saudi Arabia

Major Vendors
• Omron Healthcare
• Paul Hartmann
• Hill-Rom Holdings
• Geratherm

Other vendors include – Microlife, Thermomedics Inc., BPL Medical Technologies, Exergen Corporation, Contec Medical Systems, Cardinal Health, Braun, American Diagnostic Corporation, A&D Medical Manufacturers, Briggs Healthcare, Equinox, AccuMed, Technimed, Eco4US, Reliefcare, TempIR, Metene, Occobaby, Preve Precision, Koogeek, Puruizt, and Guangzhou Berrcom Medical Device Co. Ltd.

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About Arizton Advisory & Intelligence

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This release was published on openPR.