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INFRARED THERMOMETER MARKET SIZE TO CROSS $915 MILLION BY 2025, GROWING AT A CAGR OF OVER 15%.
Infrared Thermometer Market Size, Share, & Trends Analysis Report Product Type (Forehand, In-ear, and Multipurpose), By Application (Medical, Adult, Children, and Veterinary), and By Geography (North America, Europe, APAC, Latin America, and Middle East & Africa) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2025
This industry research report covers global infrared thermometer market size and growth, share, trends, drivers, and vendor analysis. The study includes insights by product types, applications, and geography.
The global infrared thermometer 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 the non-contact thermometer. 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 non-contact thermometers.
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.
- The medical infrared non-contact thermometer 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 of over 118% during the forecast period.
- The 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 markets. The growth is due to advanced medical infrastructure and affordable medical devices.
The infrared thermometer market share is expected to grow at a CAGR of over 15% during the period 2019–2025.
INFRARED THERMOMETER MARKET SEGMENTATION
This research report includes a detailed segmentation by product type, application, and geography.
INSIGHTS BY PRODUCT TYPE
The infrared forehead non-contact thermometers 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 the share of the contactless thermometer market. 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 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 are driving the market for infrared thermometers in the APAC 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 thermometers 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 non-contact 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 demand for non-contact 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 market 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 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 market 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 products 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.
The infrared thermometer market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Market Segmentation by Product Type
- North America
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
KEY QUESTIONS ANSWERED:
- What is the market size of the global non contact infrared thermometer market?
- How is COVID-19 impacting the demand for infrared thermometer?
- What are the factors impacting the infrared thermometer market growth?
- What are the drivers, industry trends, and restraints affecting industry growth?
- Who are the major infrared thermometer market players, and what are their market share?
- What are the key strategies adopted by the key market players?
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