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Patient Temperature Monitoring Market : Global Industry Analysis, Share, Growth and Forecast to 2023

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Vinit Sawant

The global patient temperature monitoring market is growing rapidly, witnessing huge demand. Moreover, the recent coronavirus epidemic is estimated to bring a heavy rise in market sales. The demand for advanced devices for remote monitoring of patient temperature is hiking due to social distancing norms imposed to control the spread of COVID 19.

Moreover, the latest patient temperature monitoring market trends, such as the adoption of wearable temperature sensors and remote monitoring technologies, is expected to escalate the market demand on furthered height. According to Market Research Future (MRFR), the already booming global patient temperature monitoring market is estimated to grow at 6.1% CAGR during the forecast period (2017-2023).

Conversely, the high cost of advanced temperature monitoring devices and lack of awareness about the benefits of non-invasive & continuous monitoring are the major factors expected to impede the growth of the market. Nevertheless, rising patient inclination towards remote temperature monitoring would support the market growth throughout the forecast period.

Global Patient Temperature Monitoring Market – Regional Analysis

Europe stands second in the global patient temperature monitoring market. Market growth is driven by the availability of funds for research and the high adoption of advanced temperature monitoring devices in the region.  Moreover, the presence of advanced healthcare infrastructures & flourishing medical devices industry in the region and the growing per capita healthcare expenses of demographics are the major factors increasing the patient temperature monitoring market size.

Additionally, developments in the large multispecialty hospitals are driving huge market demand. Among the two major European segments, Western Europe is leading the patient temperature monitoring market, while Eastern Europe is the fastest-growing market in the region. The European patient temperature monitoring market is estimated to grow at a considerable CAGR during the assessment period.  Growing medical device manufacturing and a large patient population is driving the growth of the Asia Pacific market.

Major Players:

Players leading the global patient temperature monitoring market include Masimo, Microlife, Koninklijke Philips N.V., Terumo Corporation, Microlife Corporation, 3M, American Diagnostic Corporation, Braun (Subsidiary of Procter & Gamble), Cardinal Health, Drägerwerk AG & Co. KGaA, and Hill-Rom Holdings, among others. 

 

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