The patient temperature monitoring market was valued at US$ 2,946.47 million in 2019 and is expected reach US$ 4,386.01 million in 2027; it is projected to grow at a CAGR of 5.2% from 2020 to 2027.
The patient temperature monitoring market is driven by factors such as increasing prevalence of infectious and chronic conditions, and increasing awareness regarding the importance of temperature monitoring. Additionally, rising number of technology and distribution collaborations are also anticipated to drive the market growth in the coming years. However, the high cost of advanced temperature monitoring devices in emerging nations is the factor hampering the growth of the market. The developing healthcare infrastructure and integration of advanced technological platforms in temperature monitoring procedures generate lucrative opportunities to the market players.
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Leading companies operating in the patient temperature monitoring market are 3M, American Diagnostic Corporation, Cardinal Health Inc., Drägerwerk AG & Co. KGaA, Oura, Ava Science Inc, Tempdrop LLC., Braun GmbH (P&G Brand), Biofourmis Inc., Fertility Focus Limited, Fairhaven Health, LLC, VivoSensMedical GmbH, Valley Electronics AG, Cycle Technologies, and Natural Cycles Nordic AB, among others.
The growth of the patient temperature monitoring market is attributed to the growing prevalence of chronic and infectious diseases, and increasing awareness regarding the benefits and usefulness of patient temperature monitoring. The global patient temperature monitoring market, based on application, is segmented into pyrexia/fever, hypothermia, blood transfusion, anesthesia, and other applications (sleep management and weight management). The pyrexia/fever segment held the largest share of the market in 2019, and it is estimated to register the highest CAGR in during the forecast period.
Variation in patient body temperature is reaction to disease-specific stimuli. Human body regulates its normal temperature in order to support the body’s own defense mechanisms. Additionally, other clinical indications of temperature monitoring such as hypothermia or hyperthermia, infection existence, and analysis of antimicrobial treatments represents significant importance of continuous temperature monitoring. These benefits are expected to accelerate the adoption of thermometers during the forecast period.
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