Global Body Temperature Monitoring Devices Market (2020) to Witness Huge Growth by 2026

Body temperature monitors are a vital tool in medical practice as they can be used to monitor a patient’s temperature at all times. The best monitoring devices are those which are easy to use, have the ability to measure in a short time, and most importantly the ones that can give accurate readings. The global body temperature monitoring devices market is expected to grow at a high rate due to growing prevalence of flu across the globe.

As the world continues to deal with COVID-19, economies are moving into recession, under multiple adverse factors, the GDP of European and American countries in the second quarter suffered a historical contraction. At an annualized rate, the US GDP fell by 32.9% month on month, while the overall GDP of the euro zone fell by 12.1%.

Drivers:

Growing infectious conditions such as Ebola and Swine Flu and increasing demand for non-contact thermometers are the major factors driving growth of the global body temperature monitoring devices market. For instance, according to the World Health Organization report, the seasonal influenza results in about three to five million cases of severe illness across the globe. Moreover, increasing pediatric population and demand for digital thermometers and disposable thermometers is also propelling the market growth.

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Restraints:

Growing concerns with regards to use of infrared thermometers and issues related to rectal thermometers are the major factors restraining growth of the global body temperature monitoring devices market.

Regional Insights:

North America dominates the global body temperature monitoring devices market due to high prevalence of flu every year and increasing adoption of temperature monitoring devices in the region. For instance, according to the United States Centers for Disease Control and Prevention, during the flu season of 2019-2020, more than 18 million people in the United States became sick with the flu among which 410,000 were hospitalized and over 24,000 deaths were reported.

Competitive Section:

Key players of the global body temperature monitoring devices market are Hicks Thermometers, 3M, Medtronic, Welch Allyn, Easywell Biomedical, Kaz Incorporation, Mediaid, Exergen Corporation, Terumo Corporation, Briggs Healthcare, and A&D Medical.

In March 2018, Exergen Corporation opened its office in China in order to expand its thermal sensor solutions in the country.

In March 2020, Medtronic launched its COVID-19 monitoring system that tracks body temperature.

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Industrial Impact of Covid-19 on Body Temperature Monitoring Devices Industry:

The outbreak of the pandemic COVID-19 changed the market scenario on the global platform. Many of the regions are facing the biggest economic crisis owing to the lockdowns that were implemented due to the outspread of the coronavirus infection. As the only solution that has been found to contracting this disease is social distancing many countries have implemented strong regulations in regards to people gatherings. Owing to this many of the businesses are working with only 30% of its employees thus not able to bring the maximum production.

This can affect the global economy in 3 main ways: by directly affecting production and demand, by creating supply chain and market disturbance, and by its financial impact on firms and financial markets.

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This release was published on openPR.