According to The Insight Partners market research study on “Patient Temperature Monitoring Market to 2027 – Global Analysis and Forecasts by Product, Site, and Application,” the market is expected to reach US$ 4,386.01 Mn by 2027 from US$ 2,946.47 Mn in 2019. It is estimated to grow at a CAGR of 5.2% from 2020 to 2027. The report provides trends prevailing in the global patient temperature monitoring market and the factors driving the market growth along with those restraining it.
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.
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 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.
Growing Awareness of Continuous Temperature Monitoring and Preventive Care
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.
Majority of the population in developed as well as developing countries is undergoing rapid shift from conventional care to preventive care. Healthcare institutions and people across the globe are implementing the concept of preventive care and holistic wellness approach to treat health related conditions. This novel concept of preventive care includes planned doctor visits, immunizations, medications, and screenings. Continuous patient temperature monitoring is one of the important aspects in preventive care. Further, government authorities also focus on implementing these preventive measures to prevent or minimize the occurrence of disease. For instance, Centers of Disease Control and Prevention recommends that all business units should screen the employees’ temperature on daily basis in order keep track of this prime body vital sign. Such rising emphasis on preventive care and continuous temperature monitoring are extensively projected to drive the market growth during the forecast period.
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