Global Thermometer Market to Reach USD 2.46 billion by 2028

According to the latest research by SkyQuest Technology, the thermometer market was valued at USD 1.3 billion in 2021. It is expected to reach USD 2.46 billion by 2028, with a CAGR of 8.7% during the forecast period of 2022-2028. The research provides an up-to-date thermometer market analysis of the current market landscape, latest trends, drivers, and overall market environment.

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The growth in infectious diseases, technological advancements, and expanded use of thermometers across industries are some of the key drivers behind this market expansion.
According to the NCBI, viral infections are thought to be the root cause of 7% of all respiratory infections that result in fever. In addition, hospitalization is required for 25% of adenovirus patients due to a high fever. The increased prevalence of infectious diseases is therefore expected to cause the market to grow during the forecasted period.

The development of the food industry is another factor propelling the market ahead. For instance, according to the Food & Drink Federation U.K., the U.K. food and beverage industry generated roughly USD 38.14 billion in revenue in 2019, which is 2.3% more than in 2018. Similar to this, the India Brand Equity Foundation estimates that the food and beverage industry in India contributes roughly 3% of the GDP.

To monitor the temperature of manufactured items throughout manufacturing and storage, the food and beverage industry requires non-contact infrared thermometers. These products are temperature-sensitive, thus they must be created and stored at a specified temperature.

Additionally, it is projected that the rise of the market would be aided by the expansion of several industries, including healthcare, hospitality, and food & beverage. The COVID-19 outbreak also aided in the market's expansion; however, with the introduction of the COVID-19 vaccine and a decline in COVID-19 cases, it is projected that the growth will come to an end.

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On the other hand, because the lockdown has been removed by nearly all the countries, the hotel business is predicted to have significant growth over the projection period. Because of this, it is projected that more fixed-mount non-contact infrared thermometers will be employed in lodging facilities, restaurants, and other hospitality-related enterprises, in part fueling the market growth.

Read Market Research Report, "Global Thermometer Market By Product (Mercury-Based Thermometers and Mercury-Free Thermometers), Application (Medical, Industrial, Food, Laboratory, Others), and Region" - Forecast and Analysis 2022-2028" by SkyQuest.

In 2021, North America held a 34.4% sales share and led the thermometer market. Higher healthcare costs and an ageing 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 organisations like WHO and NIH to raise awareness about infectious illnesses and support the maintenance of better health. For instance, until a vaccine is available, body temperature monitoring is the current standard for coronavirus infection detection. The consumer market is seeing an increase in over-the-counter thermometer sales as community spread begins in the majority of nations, including the United States. Additionally, it is anticipated that rising disposable thermometer demand and North America's well-established healthcare system will fuel the market.

The global rise of highly contagious diseases has increased the demand for thermometers in medical settings. The CDC estimates that 35.5 million people had influenza diagnoses during the 2018-2019 season, with 16.5 million going to the doctor and 490,600 ending up in hospitals. Thus, during the forecast period, these factors are anticipated to fuel market expansion.

From 2022 to 2030, the market in Asia Pacific is anticipated to experience the greatest compound annual growth rate (CAGR), at 9.1%. High unmet medical requirements, rising rates of target diseases including malaria, dengue fever, and swine flu, and rising patient knowledge of these issues in the area are some of the main drivers of this industry's profitable expansion. The World Malaria Report 2018 estimates that 94% of Indians are at risk of contracting malaria. Furthermore, market growth is anticipated to be fueled by economic expansion in several Asia-Pacific nations, particularly in China and Japan. Over the course of the forecast period, rising demand for self-healthcare goods and healthcare facilities that serve the elderly is also anticipated to propel the market.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about the thermometer Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.

Report Findings
● Drivers- Growing demand for precision medical equipment and a requirement for specific temperature conditions have an impact on market progress.
● Restraints- Inconsistent performance under conditions of high humidity and harsh temperatures. The results were erroneous because their sensors weren't sensitive enough.

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What does this Report Deliver?

● Market Estimation for 20+ Countries

● Thermometer Market demand by Region, Sub-Region, and Country

● Customization on Segments, Regions, and Company Profiles

● 100+ tables, 150+ Figures

● Global, Regional, and Country-specific thermometer Market Trends

● Comprehensive Mapping of thermometer Industry Parameters

● Attractive Investment Proposition in the Global thermometer Industry

● Competitive Strategies Adopted by thermometer Market Key Players

● Drivers, Restraints, Opportunities, Challenges, and the impact on the thermometer Market Size

● Market growth rate till 2028

● Regulatory scenario, regional dynamics, and thermometer market insights of leading countries in each region

● In-depth Market insights by Region and Country

● Market Segmentation Trend Analysis, Opportunities, and Growth

● Porter's five force analysis to know the market's condition

● Pricing Analysis and thermometer Market Sales

● Parent market analysis

● Product portfolio benchmarking

SkyQuest has segmented the Global Thermometer Market based on Product, Application, and Region:
● Global Thermometer Market by Product (Revenue, USD billion, 2021 - 2028)
○ Mercury-based Thermometers
○ Mercury-free Thermometers
● Global Thermometer Market by Application (Revenue, USD billion, 2021 - 2028)
○ Medical
○ Industrial
○ Food
○ Laboratory
○ Others
● Global Thermometer Market By Region (Revenue, USD billion, 2021 - 2028)
○ North America
■ US
■ Canada
○ Europe
■ Germany
■ France
■ UK
■ Italy
■ Spain
■ Rest of Europe
○ Asia Pacific
■ China
■ India
■ Japan
■ Rest of Asia Pacific
○ Central & South America
■ Brazil
■ Rest of CSA
○ Middle East & Africa
■ GCC Countries
■ South Africa
■ Rest of MEA

Key Players in the Global Thermometer Market
● Braun GmbH (Germany)
● Thermomedics Inc. (US)
● Microlife Corporation (China)
● PAUL HARTMANN AG (Germany)
● BPL Medical Technologies (Banglore)
● Cardinal Health ( Medtronic) (Ireland)
● Exergen (US)
● Mediaid Inc. (US)
● iSnow Med (US)

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This release was published on openPR.