GVR Report cover Thermometer Market Size, Share & Trends Report

Thermometer Market Size, Share & Trends Analysis Report By Product (Mercury-based, Mercury-free Thermometer), By Application (Medical, Industrial, Food, Laboratories), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-1-68038-420-8
  • Number of Pages: 110
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2020
  • Industry: Healthcare

Report Overview

The global thermometer market size was valued at USD 1.3 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.7% from 2022 to 2030. Increase in the prevalence of infectious diseases and other medical conditions such as malaria and dengue, as well as rising awareness about the importance of body temperature monitoring are the major factors expected to drive the market. In addition, increasing applications of such devices in temperature monitoring for industrial, medical, laboratory, and imaging purposes are few other factors contributing towards market growth.

U.S. thermometer market size, by product, 2020 - 2030 (USD Million)

The increase in several medical conditions such as, malaria, dengue, and swine flu involve accurate body temperature readings to determine the line of treatment, is a major factor responsible for the market growth. According to the CDC, around 2,000 cases of malaria are diagnosed in the U.S every year. In addition, as per the same source, over 15.5 million visits to hospitals with infectious and parasitic diseases as the primary diagnosis in the U.S. Furthermore, the WHO African region had the highest burden of malaria, accounting for over 200 million cases in 2018 followed by the WHO South-East Asian region and the WHO Mediterranean region. Presence of unmet medical needs, low level of hygiene, and subsequent rise in target population in these regions are expected to boost demand for thermometers.

In addition, increasing health consciousness and rising patient awareness are among the major factors contributing to the market growth. With growing demand for self-healthcare, companies such as Nexcare and Terumo Corporation introduced portable products, which are user-friendly and also can be easily adopted by any patient. Moreover, increasing dependency of healthcare practitioners on the usage of thermometers for checking health status of patients is expected to boost the market. Awareness among other end users such as pharmaceutical, food, and chemical industries is also increasing. Maintenance of specific temperatures in various stages of product development is an essential requirement in these industries. These factors are estimated to boost market growth over the forecast period.

Moreover, rapid technological advancements has led to the launch of innovative product launch, which is anticipated to accelerate market growth during the forecast period. Advancements include temporal thermometer TAT-2000C by Exergen Corporation, which can be used to measure body temperature by rolling it on a child’s forehead. In addition, American Diagnostics Corporation launched Adtemp 429 thermometer that measures temperature without skin contact, thus, minimizing the risk of cross-contamination. Thus, increasing demand for easy-to-use, sensitive, and rapid thermometers, is also expected to drive the market. In addition, in food industry, thermometers are required to check temperatures to avoid contamination and degradation of food and beverages. Companies, such as TEL-TRU, provide a range of NSF-certified poultry/meat, food testing, and barbeque thermometers. Thus, these thermometers help maintain the quality of temperature-sensitive eatables, thus boosting market growth.

Use of thermometer is increasing in the countries such as the U.S., the U.K., Italy, and India owing to high prevalence rate of infectious diseases, including the current pandemic of COVID-19. Increased body temperature is the first sign that the body is preparing to fight infection, therefore, doctors everywhere make their first assumption about the disease based on thermometer readings. Thus, the spread of highly infectious diseases are resulting in demand for thermometers in medical settings globally. For instance, according to CDC, during the 2018-2019 season, around 35.5 million individuals were diagnosed with influenza, out of which 16.5 million people visited physician, and 490,600 were hospitalized. Thus, these factors are expected to positively impact the market during the forecast period. Similarly, India has a high burden of infectious diseases such as influenza virus, scrup typhus, malaria, dengue, and Kyasanur Forest Disease virus including current pandemic of coronavirus. These diseases account for over 80% of illnesses that start with a high fever as per the CDC report. These are the major factors expected to drive growth of thermometers over the forecast period.

Furthermore, coronavirus outbreak has positively impacted the medical industry with an increased demand for thermometers. This is likely to drive the market during the forecast period. The need for thermal screening at public places, offices, and hospitals has increased the demand for infrared thermometers. Moreover, ban of traditional mercury in-glass thermometers in 13 states of the U.S., are boosting the sale of non-contact thermometer. The government has passed the laws for banning the manufacture, and sale of mercury thermometers. This is to eliminate the threat of glass thermometer breakage and the consequent release of mercury vapor at home which are environmentally hazardous. Thus, replacement of mercury thermometers with electronic thermometers, and increased sales of infrared thermometers.

Post COVID-19, technology will emerge to generate new growth prospects. A notable invention that has already hit the market is a next-generation, smart infrared thermometer developed in Taiwan that is integrated with artificial intelligence (AI) to eliminate erroneous readings. The device's AI capability allows it to estimate temperatures by identifying people's faces. This minimizes errors caused by interference from radiation emitted by objects held in a person's hand while being screened.

Another major advancement is the launch of DeltaTrak's non-contact forehead infrared thermometer in March 2020. It is FDA and CE approved. The novel technology is likely to play a critical role in addressing the issues posed by the spread of the corona virus. The FDA-approved device provides immediate temperature readings without making physical contact with the person being checked. The novel COVID-19 risk prevention system is primarily intended to eliminate cross contamination and increase safety while carrying out daily preventative protection activities in large workforce settings. Similarly, in August 2020, a New Delhi based startup EVERYCOM launched a non-contact infrared thermometer - IR37, with a display temperature range of 89.6 ℉ to 109.4 ℉ (32℃ to 43℃). Thereby, such developments is expected to help market propel post pandemic.

Product Insights

The mercury- free thermometers segment has dominated the market and accounted for revenue share of 64.2% in 2021 which can be attributed to high adoption and user-friendliness. Adoption of mercury-free thermometers such as IR radiation thermometers and digital thermometers are anticipated to gain significant market share as they provide more accurate readings and are not associated with the environmental hazards of mercury. In addition, mercury-free thermometers are also expected to witness significant growth at a CAGR of 11.3% by 2030. It is further segmented into digital thermometers, infrared radiation thermometers, and others.

Whereas, mercury-based thermometers such as liquid-in-glass thermometers are easy-to-use and are employed in laboratories. However, since 2001, almost 20 states have banned the use of mercury-based thermometers, especially for medical use, due to the poisonous effects of mercury. More stringent regulations on the use of these devices are expected to be implemented in the coming years, limiting the use of mercury-based thermometers in various fields. For instance, Analytical Technology and Control Limited will stop supplying customers with ASTM-approved mercury-in-glass thermometers and instead will supply spirit-filled thermometers to their customers.

Application Insights

The medical application dominated the market and accounted for revenue share of 28.4% in 2021. The segment includes hospital, clinics, and primary healthcare centers. This can be attributed to presence of well-established healthcare infrastructure and high incidence of diseases requiring body temperature assessment. One of the major reasons for the growth of this segment is technological advancements in thermometers. For instance, Instant Read Digital Ear thermometer of A&D Company, Limited, markets a thermometer with one-button operation and it has 10 memory recalls. It aids in easy measurements in 1 second and has an LCD display.

Global thermometer market share, by application, 2021 (%)

Whereas, the industrial application segment is expected to show lucrative growth over the forecast period as pharmaceuticals, chemical, and biotechnology companies require specific temperature maintenance during various stages of product development. Industrial thermometers are selected depending upon their type, size, configurations, display options, features, applications, and operating environments. Moreover, presence of key players such as Microtemp electrics Co., ltd.; Endress+Hauser Management AG; and LumaSense Technologies, Inc. is expected to aid overall market growth. These factors is anticipated to boost the segment growth during the forecast period.

Regional Insights

North America dominated the thermometer market and accounted for revenue share of 34.4% in 2021. Growing geriatric population and higher healthcare expenditure are some of the key factors contributing to its largest market share. Healthcare camps and initiatives undertaken by government organizations, such as WHO and NIH, for spreading awareness about infectious diseases and helping maintain better health status, are anticipated to further boost the market. For instance, body temperature monitoring is the new norm for coronavirus infection screening until a vaccine is ready. As community spread begins in most countries worldwide including the U.S., over the counter sales of thermometers in the consumer market are rising. In addition, increasing demand for disposable thermometers and well-established healthcare infrastructure in North America are expected to drive the market.

In Asia Pacific, the market is expected to witness the highest compound annual growth rate (CAGR) of 9.1% from 2022 to 2030. Presence of high unmet medical needs, increasing prevalence of target diseases including malaria, dengue, and swine flu; and growing patient awareness about the same in the region are some of the key factors contributing to its lucrative growth. According to the World Malaria Report 2018, around 94% of the Indian population is at risk of acquiring malaria. Moreover, economic growth in various countries of Asia Pacific, especially in Japan and China, is expected to propel market growth. Increasing demand for self-healthcare products and healthcare establishments catering to the elderly is also expected to drive the market over the forecast period.

Key Companies & Market Share Insights

Key strategic initiatives of these companies involve development of new products, and mergers and acquisitions to cater to the growing needs of the consumer. For instance, in November 2018, Briggs Healthcare acquired Selman-Holman and Associates, a service consulting firm, to expand its education and compliance solutions for home health industry. Furthermore, introduction of cost-effective and innovative alternatives are the key strategies implemented by the major players to gain maximum share and survive competition in the market. Moreover, the companies are expanding geographically to cater to the untapped market of thermometer along with many acquisitions. For instance, in January 2019, Exergen Corporation introduced PEKO thermal dynamic management solution. This solution will allow manufacturers to safely increase their industrial processes, while ensuring processing temperatures to safely be within the mentioned specifications. Thus, such initiatives are expected to boost the company’s market revenue during the forecast period. Some prominent players in the thermometer market include:

  • Medline Industries, Inc.

  • 3M

  • Welch Allyn

  • America Diagnostics Corporation

  • A&D Medical

  • Exergen Corporation

  • Microlife Corporation

  • RG Medical Diagnostics

  • Medtronic

  • Terumo Corporation

  • Actherm Inc.

  • Briggs Healthcare

  • OMRON Healthcare Inc.

  • Fairhaven Health

Thermometer Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 1.43 billion

Revenue forecast in 2030

USD 2.8 billion

Growth rate

CAGR of 8.7% from 2022 to 2030

Base year for estimation

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2022 to 2030

Report coverage

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

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Argentina; Colombia; South Africa; Saudi Arabia; UAE

Key companies profiled

Medline Industries, Inc.; A&D Company Limited; American Diagnostic Corporation; Actherm, Inc.; Briggs Healthcare; Exergen Corporation; 3M; Microlife Corporation; OMRON Health Inc.; Medtronic; RG Medical Diagnostics; Fairhaven Health; Terumo Corporation; Welch Allyn Inc.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope

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Segments Covered in the Report 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global thermometer market report on the basis of product, application, and region:

  • Thermometer Product Outlook (Revenue, USD Million, 2018 - 2030)

    • Mercury-based Thermometers

    • Mercury-free Thermometers

      • Digital Thermometer

      • Infrared Radiation Thermometer

      • Others

  • Thermometer Application Outlook (Revenue, USD Million, 2018 - 2030)

    • Medical

    • Industrial

    • Food

    • Laboratory

    • Others

  • Thermometer Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East and Africa (MEA)

      • South Africa

      • Saudi Arabia

      • UAE

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