Patient Temperature Monitoring Market is expected to reach US$ 3.25 Bn by 2026 at a CAGR of 5.5 % during the forecast period. A patient temperature monitor is a portable measurement device that is capable of autonomously recording temperature over a sharp period of time. A patient temperature monitoring device is usually used to monitor shipments in a cold chain and to gather temperature data from diverse field conditions.
Increasing awareness regarding remote monitoring in outpatient settings and high patient pool having long-term pathologies would create commercial opportunities in this market. Furthermore, a high cost of these devices and the lack of awareness in developing nations may hamper the market growth. Additionally, the risks associated with invasive monitoring devices are anticipated to challenge market growth to a certain extent in the coming years.
Patient temperature monitoring market is segmented by product, site, application, end user, and region. Among products, tabletop temperature monitoring devices segment market accounted for the largest share in 2018 due to its advanced features, a high cost of alternative devices and raising awareness for continuous patient monitoring.
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Based on sites, non-invasive temperature monitoring is expected to be one of the fastest growing segments in the forecast period. The market growth can be attributed to technological advancement in temperature measurement.
Among regions, the North America region is expected to grow at the highest CAGR during the forecast period due to significant adoption of wireless portable temperature monitoring devices and rising adoption of fitness tracking devices by sports industry. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to increasing per capita income, growing public health awareness, healthcare expenditure, the rising prevalence of lifestyle diseases, improving treatment rates, better newborn screening programs, and improvement in healthcare access.
The key players of the patient temperature monitoring market include erumo Medical Corporation (Japan), Masimo Corporation (US), Microlife Corporation (Taiwan), Procter & Gamble (US), and American Diagnostic Corporation (US), 3M (US), Cardinal Health (US), Koninklijke Philips N.V. (Netherlands), Hill-Rom Holdings (US), and Drägerwerk AG & Co. KGaA (Germany). The industry players focus on strategic partnerships, mergers and collaborations, as well as innovative product, launches to expand their business product portfolio as main strategies.
There is a sturdy growth in the production as new companies are entering the patient temperature monitoring market. For example, in May 2016, a leading medical devices company, Medtronic (Ireland) announced its intentions to enter the patient temperature monitoring market.
In the patient temperature monitoring market, 3M (US), holds the leadership position due to production capacity expansion, brand portfolio expansion, mergers, collaborations, and acquisitions. In 2018, the company has adopted new product launches, product enhancements, and geographic expansion as its crucial business plans to certify its dominance in this market.
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Patient Temperature Monitoring Market report:
Patient Temperature Monitoring Market, by Product
• Wearable Continuous Temperature Sensors
• Smart Temperature Monitoring Patches
• Table-top Temperature Monitoring Devices
o Noninvasive Vital-signs Monitoring Devices
o Continuous Core Body Temperature Monitoring Devices
• Handheld Temperature Monitoring Devices
o Mercury Thermometers
o Digital Thermometers
o Infrared Thermometers
• Invasive Temperature Monitoring Devices
Patient Temperature Monitoring Market, by Site
• Noninvasive Temperature Monitoring
o Oral Temperature Monitoring
o Axillary and Temporal Artery Temperature Monitoring
o Tympanic Membrane Temperature Monitoring
• Invasive Temperature Monitoring
o Esophageal Temperature Monitoring
o Nasopharynx Temperature Monitoring
o Urinary Bladder Temperature Monitoring
o Rectal Temperature Monitoring
Patient Temperature Monitoring Market, by Application
• Blood Transfusion
• Other Applications
Patient Temperature Monitoring Market, by End User
• Hospital and Surgical Centers
• Nursing Facilities
• Home care
• Ambulatory Care Centers
• Other End Users
Patient Temperature Monitoring Market, By Region
• North America
• Latin America
Key Players in Patient Temperature Monitoring Market
• Cardinal Health
• Koninklijke Philips N.V
• Hill-Rom Holdings
• Drägerwerk AG & Co. KGaA
• Cardinal Health
• Koninklijke Philips N.V.
• Hill-Rom Holdings
• Drägerwerk AG & Co. KGaA
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MAJOR TOC OF THE REPORT
Chapter One: Patient Temperature Monitoring Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Patient Temperature Monitoring Market Competition, by Players
Chapter Four: Global Patient Temperature Monitoring Market Size by Regions
Chapter Five: North America Patient Temperature Monitoring Revenue by Countries
Chapter Six: Europe Patient Temperature Monitoring Revenue by Countries
Chapter Seven: Asia-Pacific Patient Temperature Monitoring Revenue by Countries
Chapter Eight: South America Patient Temperature Monitoring Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Patient Temperature Monitoring by Countries
Chapter Ten: Global Patient Temperature Monitoring Market Segment by Type
Chapter Eleven: Global Patient Temperature Monitoring Market Segment by Application
Chapter Twelve: Global Patient Temperature Monitoring Market Size Forecast (2019-2026)
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