Infrared Thermometer Market to be valued at around US$ 1.3 Bn by the end of 2031

Infrared Thermometer Market 2022-2031

The Infrared Thermometers Market is expected to grow on a healthy note in the subsequent decade. With value-based care picking up, close to 15% of the entire population is under its umbrella as of now. Programs like "Online Bachelor's Degree in General Studies with a Concentration in Healthcare" is being floated, which could aid professionals to lead in the value-based care strategies. In other words, the future belongs to professionals bringing conventional skills in communication, care, and leadership with new-fangled skills in analytics and technology. So, "being value-based" would hold value in the healthcare vertical in the future.

Persistence Market Research's updated analysis on the global infrared thermometer market indicates that the industry is anticipated to evolve at a high CAGR of 8% through 2031. This would market valuation to US$ 1.3 Bn by 2031, which was US$ 600 Mn in 2020.

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The world has seen substantial increase in cases of infectious diseases over the past decade or so, and this decade too started with a major pandemic, which has made it clear that healthcare would be a prominent area of concern for the world over the coming years. While indications and symptoms for various diseases are different, most of them have an effect on body temperatures, and a simple preventive diagnosis can be performed by checking body temperature.

This is where infrared thermometers come into the picture, as they are handy and allow us to take temperatures without coming into contact with the individual being checked, thus reducing the chances of spreading the infection. Increasing healthcare spending and expenditure across the globe, rising prevalence of chronic infectious diseases, growing awareness regarding preventive healthcare, and increasing geriatric population are some of the major factors driving demand for infrared thermometers.

Key Players:

The report has profiled some of the important players prevalent in the global like - Welch Allyn - A Hill-Rom Inc. Company, Exergen, Geratherm Medical AG, Thermomedics, Inc. (A subsidiary of PositiveID Corporation), Microlife Corporation, PAUL HARTMANN AG, BPL Medical Technologies, Contec Medical Systems Co., Ltd., Cardinal Health (Medtronic), OMRON Corporation, and Braun GmbH and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Infrared Thermometer Market.

Key manufacturers of infrared thermometers are investing in increasing the accuracy of their products and are adopting various organic and inorganic strategies to maximize their revenue potential across regional markets.

In February 2020, when coronavirus was reaching its peaking point and demand for infrared thermometers was high, Xiaomi announced the launch of its new non-contact infrared thermometer. The device, named Bencon Infrared Thermometer, is capable of recording temperature with an accuracy of 0.2 degrees in just a second.

In January 2021, Fitgo announced the launch of a new range of infrared thermometers equipped with the latest technology. These new thermometers are equipped with a backlit display, fever alarm, memory recalls, and other advanced features.

Key Takeaways from Market Study

The infrared thermometer market is expected to progress at a high CAGR of around 8% over the next ten years.

North America is expected to dominate the global market in terms of value.

Due to its rising geriatric population, Japan is anticipated to provide a lucrative setting for infrared thermometer suppliers.

Sales forecast of infrared thermometers for 2031 is anticipated to be around US$ 1.3 Bn.

Owing to rising awareness regarding healthcare and increasing healthcare spending, the market in APAC is expected to rise at the fastest rate.

Increasing instances of infectious diseases, rising healthcare expenditure and spending, growing awareness among the population for preventive healthcare, and rising geriatric population are some of the major factors driving demand for infrared thermometers.

"Prevalence of infectious diseases plays a major role in driving demand for infrared thermometers," says a Persistence Market Research analyst.

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders 
Infrared Thermometer Market Manufacturers 
Infrared Thermometer Market Distributors/Traders/Wholesalers 
Infrared Thermometer Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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Major Highlights of the Infrared Thermometer Market Report:

The Infrared Thermometer Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.

The report dives deeper into the market and explains the dynamic factors bolstering market growth.

The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.

The report analyzes the Infrared Thermometer Market presence across major regions of the world.

It determines the production & consumption capacities and demand & supply dynamics of each regional market.

The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.

It provides company overview and SWOT analysis of each of the market players.                                          

Key Questions Answered in the Infrared Thermometer Market Report

How is the Infrared Thermometer Market expected to grow over the projected period?

What direction is the Infrared Thermometer Market expected to take in terms of volume and value during the forecast period?

What is the impact of macroeconomic factors on the Infrared Thermometer Market in future?

What are the key market drivers in the Infrared Thermometer Market?

What are significant opportunities and improvement areas for Infrared Thermometer Market manufacturers?

What are the key developments and trends taking over the Infrared Thermometer Market?

Which are the emerging countries that are expected to create significant growth opportunities in the Infrared Thermometer Market?  

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