Thermometer Market Report

Thermometer Market Analysis By Product (Mercury-Based, Mercury-Free, Infrared Thermometers, Digital Thermometers), By Application (Medical, Industrial, Food, Laboratory), And Segment Forecasts, 2014 - 2025

Published: March 2017  |  80 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-420-8

Industry Insights

The global thermometer market size was valued at USD 769.3 million in the year 2016 and is estimated to grow at a CAGR of 7.9% during forecast period. The key drivers include increasing applications of such devices in temperature monitoring for industrial, medical, laboratory, and imaging purposes. Furthermore, technological advancements in temperature monitoring devices are fostering industry growth.

Other factors such as rising healthcare expenditure and increasing healthcare awareness boost the concept of self-care management. Medical applications including pediatric and veterinary temperature measurement along with industrial temperature control and laboratory temperature monitoring are the areas with high demand for temperature monitoring devices.

U.S. thermometer market, by application, 2014 - 2025 (USD Million)

U.S. thermometer market

Moreover, cost-effective and accurate alternatives are available for mercury-based thermometers. Increasing demand for disposable thermometers and availability of technologically advanced products such as basal thermometers that can provide accurate readings within 1/10th of a degree and resistance thermometers that can measure the temperatures as high as 1,000 degrees are estimated to boost market growth.

There has been a gradual increase in the adoption of mercury-free temperature monitoring devices worldwide over the past few years. The United States Environmental Protection Agency is involved in spreading awareness about the harmful effects of mercury in the environment through various initiatives such as the mercury pollution prevention program, which is fueling the higher adoption for newer range of mercury-free temperature monitoring devices.

Product Insights

The thermometer industry is estimated to grow over the forecast period mainly due to increasing applications for temperature control in various fields. The market comprises various types of temperature monitoring devices such as mercury-based and mercury-free.

The mercury-free temperature monitoring devices market is anticipated to outgrow the mercury-based devices in the coming decade. The use of mercury-based thermometers such as liquid-in-glass is less due to their harmful consequences such as mercury pollution. In addition, the results obtained are slow and less efficient than the new range of mercury-free temperature monitoring devices.

The mercury-free thermometer segment is estimated to dominate the overall market in terms of revenue and is expected to reach USD 1,119.0 million by 2025. The factors responsible for the growth of this segment include its efficiency and quick response. The infrared radiation-based thermometers under the mercury-free devices is expected to be the fastest growing segment over the forecast period due to its increasing applications for accurate temperature control and monitoring.

Application Insights

Various applications of thermometers include medical, industrial, food, laboratories, and other areas such as imaging and environmental monitoring. The major application of thermometers is estimated to be in the medical field due to high usage for veterinary, pediatrics, ear, and forehead temperature monitoring.

However, the industrial temperature control application is expected to be the fastest growing application with a CAGR of 11.9% over the forecast period mainly due to increasing demand for specific temperature control in environmental and biologics related companies.

Global thermometer market, by product, 2016 (USD Million)

Global  thermometer market

Regional Insights

The thermometer industry is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and MEA. The industry is characterized by an increase in the adoption of various types of temperature monitoring devices for different applications in these regions.

The market is dominated by North America owing to the presence of high number of research and academic institutes using thermometers for laboratory and industrial purposes. Furthermore, rising application in food industry for preservation of nonperishable food products is expected to help in maintaining the dominance.

Asia Pacific is estimated to witness significant growth over the forecast period. The share of this region is estimated to increase to 27.8% by 2025. The economic prosperity of the region has also led to increased disposable income and establishment of a proper healthcare infrastructure, which is further anticipated to accelerate growth.

Competitive Insights

Some of the key players of this industry include A&D Medical (LifeSource); Opto Circuits (India) Limited; Exergen Corporation; Microlife Corporation; Omron Healthcare, Inc.; RADIANT INNOVATION INC.; Geratherm Medical AG; TERUMO CORPORATION; Citizen Systems; and Welch Allyn. Introduction of innovative and cost-effective alternatives are the key strategies implemented by the key players to survive competition and gain maximum share.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America & MEA

Country scope

U.S., Canada, UK, Germany, Japan, China, India, Brazil, Mexico, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the thermometer market on the basis of product, application, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Mercury-Based

    • Mercury-Free

      • Infrared Radiation Thermometer

      • Digital Thermometer

    • Others

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Medical

    • Industrial

    • Food

    • Laboratory

    • Others

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Mexico

      • Brazil

    • MEA

      • South Africa

Key questions answered by the report
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