The infrared thermometer market size to cross USD 915 million by 2025, growing at the highest CAGR of 15% during the forecast period. The global market is going to witness growth due to the worldwide outbreak of the COVID-19 pandemic. This pandemic has resulted in a spike in demand for several medical devices, which include nebulizers, blood pressure monitoring devices, medical ventilators along with infrared thermometers. The outbreak of COVID-19 and the subsequent global pandemic has further boosted the infrared thermometer market demand. The rise of consciousness among the consumers for contagious diseases is thus expected to further support the growth in demand during the forecast period. In an attempt to contain the highly contagious virus, temperature monitoring has become an essential component across public places, including shopping malls, airports, offices, schools, thereby increasing the demand for infrared thermometers for temperature measurements.
These devices allow the measurement of body temperatures from a distance. So they are considered suitable to measure temperature for a large number of people. In the US, the forehead thermometer industry sales increased by 232% in March 2020 compared to the previous year. Further, the rising practice among the population to maintain a regular check-up at home is fueling infrared thermometer sales.
- The medical non-contact infrared thermometers segment is expected to grow at a staggering CAGR of 16% by 2025. The growth is due to increased global healthcare spending, which is projected to reach around $10.4 trillion by 2020.
- Latin America is likely to observe an incremental growth of $113 million by 2025. This is due to the growing healthcare industry in Brazil and Mexico.
- Mexico is expected to experience the highest incremental growth rate of over 118% during the forecast period.
- The global infrared forehead thermometer market is projected to witness an absolute growth of over 133% by 2025.
- The global demand for non-contact thermometers is expected to grow by 19%, reaching revenues of $469 million by 2020.
- The infrared thermometer market in India is one of the fastest-growing regions. The growth is due to advanced medical infrastructure and affordable medical devices.
INFRARED THERMOMETER MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Product Type
INSIGHTS BY PRODUCT TYPE
The infrared forehead non-contact thermometer market accounted for the largest share of 61% in 2019. Contactless thermometers are easy to use and provide faster results that are highly recommended to measure temperatures in babies and infants. This is increasing their market share. They are considered as reliable, comfortable, and accurate option to measure body temperatures, especially for pediatrics.
North America and Latin America accounted for more than 60% of the global market share in 2019. The high affordability for healthcare facilities and medical devices is driving the demand for in-ear thermometers in North America. Improving government investments in the healthcare industry is driving demand in the Asia Pacific region.
The global multifunction non-contact thermometer market is growing at a CAGR of over 13% during the period 2019-2025. The ability to merge functionalities of both forehead and in-ear models without any contact is highly attractive for consumers. These devices can be used to measure the temperature of patients from infants to adults and the elderly.
Vendors are implementing new technology such as intelligent light indicators to indicate fever levels. They are likely to introduce smart technologies that allow the thermometer to be connected to an external mobile application via Bluetooth.
Digital technology is supporting healthcare providers and hospitals. They enable the transition to new patient-centered care models and develop smart health approaches. Therefore, digital infrared thermometer devices are playing an important role.
INSIGHTS BY APPLICATION
In-ear devices are more popular than forehead ones for measuring temperatures among pets. Due to the presence of fur and different sweat apparatus, forehead temperature scans are not proven to be helpful in veterinary medicine. However, in-ear and rectal temperatures have shown conflicting results. Thus, reliability remains a key challenge for the market.
North America is expected to witness continued improvement, contributing to the highest incremental growth of $73.59 million by 2025. The evolving consumer confidence and technology is likely to increase the demand for infrared thermometers in veterinary medicine.
The growing incidence of swine flu, Ebola, HIV, COVID-19, and others have increased the importance of non-contact diagnostic products. Consumers are becoming increasingly aware of the risk of infectious diseases, thus driving the adoption of infrared thermometers. In developing regions, they still constitute a niche segment due to less affordability and availability and low awareness.
The APAC region is expected to grow at a promising CAGR during the forecast period. The increasing demand for healthcare devices in China and India and the growth in medical tourism are supporting the growth.
INSIGHTS BY GEOGRAPHY
The infrared thermometer market share in North America is expected to grow significantly during the forecast period. The rising healthcare industry in the US and Canada is primarily supporting the growth of non-contact infrared thermometers in the region. The growing awareness of several contagious diseases would support the growth of the market. Consumers are increasingly spending on innovative and the latest healthcare equipment, which would fuel the growth during the forecast period.
A large portion of healthcare spending on preventable chronic diseases, hospital care, nursing facilities, and retail outlet sales of medical products and others. The expense of durable medical applications in the US has increased by over 148% since 2000. Thus, the increasing expenditure on personal healthcare and durable medical products is driving the body thermometer market in the region.
INSIGHTS BY VENDORS
The global infrared thermometer market size is undergoing major transformations. The demand is flourishing due to innovations and technological advancements. Therefore, global players are focusing on business expansion plans to increase the geographic reach of their products.
Global outreach efforts are particularly strong in many emerging economies of the APAC and MEA regions. Several infrared thermometer manufacturers in the US and Europe are beginning to design and manufacture their products locally. For instance, key players such as Medtronic, Braun, and Cardinal Health generate significant revenue from global sales. Hence, several large global players are willing to enter emerging markets to increase their sales volume and profit margins.
This market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Segmentation Based on Product Type
Segmentation Based on Application
Segmentation Based on Geography
- North America
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia