Patient Temperature Monitoring Market Report 2024: Global Insights and Trends

The patient temperature monitoring market size has grown strongly in recent years. It will grow from $4.59 billion in 2023 to $4.96 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to patient safety concerns, prevalence of fever-related conditions, advancements in temperature monitoring devices, increased hospitalization rates, rise in chronic diseases, regulatory standards and compliance.

The patient temperature monitoring market size is expected to see strong growth in the next few years. It will grow to $6.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to remote patient monitoring (rpm) growth, point-of-care temperature monitoring, focus on infection control, smart healthcare infrastructure, population health management initiatives, focus on patient comfort and compliance. Major trends in the forecast period include contactless temperature monitoring, adoption of wireless and bluetooth technologies, wearable temperature monitoring devices, data analytics and predictive monitoring, enhanced accuracy and precision.

Market Overview -
Patient temperature monitoring refers to a type of portable measurement equipment device and services which autonomously records the temperature for a particular period of time. These monitors help in measuring a patient's temperature during postoperative care, surgery, critical care, shock, sepsis and infections, treatment of hypothermia and hyperthermia, fertility and ovulation assessment, or in other cases where there is a need to continuously monitor the body temperature. Patient temperature monitoring are used to measure and record temperature for a particular period of time.

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Elevating Disease Incidence Drives Growth In The Patient Temperature Monitoring Market
The rising incidence of diseases is expected to propel the growth of the patient temperature monitoring market going forward. Diseases are disorders caused by organisms such as bacteria, viruses, fungi, or parasites. Some infectious diseases can be passed from person to person and some are transmitted by insects or other animals. The temperature change is a crucial factor in determining the sickness. It is anticipated that the connection between temperature variation and illness occurrence would increase the adoption of monitoring systems. For instance, according to The World Health Organization, Switzerland-based a specialized agency of the United Nations responsible for international public health, in 2022, noncommunicable diseases (NCDs) are responsible for 41 million deaths worldwide each year, or 71% of all fatalities. Also, every year, 17.9 million people die from cardiovascular illnesses, making them a significant contributor to NCD fatalities. Cardiovascular illness was the leading cause of mortality, followed by cancer (9.3 million), respiratory conditions (4.1 million), and diabetes (1.5 million). Therefore, the rising prevalence of diseases will continue to drive the patient temperature monitoring market.

Competitive Landscape -
Major companies operating in the patient temperature monitoring market report are Cardinal Health Inc., 3M Company, Koninklijke Philips NV, Drägerwerk AG & Co., Microlife Corporation, Becton Dickinson and Company, Omron Healthcare Inc., Masimo Corporation, Braun GmbH, Terumo Corporation, Paul Hartmann AG, Beurer GmbH, Easytem Co. Ltd., Omega Engineering Inc., iHealth Lab Inc., DeltaTrak Inc., Exergen Corporation, Medisana GmbH, Geratherm Medical AG, Nureca Healthcare Private Limited, A&D Company Ltd., Actherm Inc., Cosinuss GmbH, Vandelay Brands Limited, Kinsa Inc., Abbott Laboratories, American Diagnostic Corporation, CAS Medical Systems Inc., C.R. Bard Inc., Edwards Lifesciences Corporation, GE HealthCare Technologies Inc., Hill-Rom Holdings Inc., Honeywell International Inc., ICU Medical Inc., Medtronic plc, Natus Medical Incorporated, Nonin Medical Inc., Procter & Gamble Co., Quest Products Inc., Riester GmbH & Co. KG, Rossmax International Ltd., Smiths Medical International Ltd., Spacelabs Healthcare LLC, SunTech Medical Inc., The Welch Allyn Inc., Thermomedics Inc., Tyco Healthcare Group Canada Inc., Vital Signs Inc., Vyaire Medical Inc., Welch Allyn Inc., ZOLL Medical Corporation

Ambulatory Connected Patient Monitoring System
Major companies operating in the patient temperature monitoring market are adopting new products, such as ambulatory connected patient monitoring system, to sustain their position in the market. An ambulatory connected patient monitoring system is a wearable technology that wirelessly collects and transmits real-time health data from patients, enabling remote monitoring of vital signs and medical parameters outside of traditional healthcare settings. For instance, in October 2023, Dozee, an India-based company that provides remote patient monitoring launched Dozee Pro Ex. Dozee Pro Ex provides continuous monitoring of patient vitals including ECG rhythm, blood pressure, heart rate/pulse rate, oxygen saturation, respiration rate, and temperature. This System comes with an artificial intelligence (AI)-powered early warning system that tracks the trends of vital parameters and provides timely alerts for possible clinical deterioration.

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Key Segments -

The patient temperature monitoring market covered in this report is segmented -
1) By Type: Contact-based Temperature Monitoring Systems, Non-Contact-based Temperature Monitoring System
2) By Site: Non Invasive Temperature Monitoring, Invasive Temperature Monitoring
3) By Application: Pyrexia/Fever, Hypothermia, Blood Transfusion, Anesthesia, Other Applications
4) By End User: Hospital and Surgical Centers, Nursing Facilities, Ambulatory Care Centers, Home Care, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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