This research report on the global non-contact thermometer market covers sizing and forecast, share, industry trends, growth drivers, and vendor analysis. The study includes insights on segmentation by product Types (forehead, in-ear, and multifunction), application (medical and veterinary (adults and children)), and geography (APAC, Europe, Latin America, MEA, and North America).
The global non-contact thermometer market is majorly driven by the growing medical expenditure and the increasing healthcare awareness of preventive healthcare services in the population. The rise in certain medical conditions such as swine flu, dengue, malaria, which require precise body temperature readings to decide the line of treatment, is a major factor responsible for the growth of the market. In 2018, North America accounted for the largest market for non-contact thermometer on account of increasing preventive healthcare expenditure and growing public and private investments in healthcare facilities. However, APAC is expected to grow at the fastest CAGR during the forecast period due to the growing aging population.
The introduction of smart technology, artificial intelligence, and IoT is playing an important role in developing the demand for advanced medical devices. The manufacturers are also implementing smart technologies to increase product differentiation, thereby intensifying the competition. Hence, constant product innovations are expected to drive the demand during the forecast period.
The high frequency of healthcare-associated infections (HAI) has considerably increased in the last few decades. One of the major causes of HAI is reported to be prolonged and inappropriate use of invasive devices. Non-critical tools such as a traditional oral or rectal invasive thermometer can increase the chances of acquiring infections. Healthcare organizations worldwide are implementing non-invasive technologies, such as infrared thermometer, to reduce contamination. Therefore, the rise in healthcare associated infections is likely to augur well for non-invasive devices market during the forecast period.
The global non-contact thermometer market is expected to grow at a CAGR of over 11% during the period 2018–2024.
This research report includes market detailed segmentation by product type, application, and geography.
Forehead thermometer accounts for the largest share in the market. The presence of a large number of vendors in North America is primarily driving the adoption of these devices in the region. Furthermore, the growing expenditure on healthcare facilities in countries such as the US, Brazil, and Mexico is boosting the market share.
The in-ear segment is expected to grow at an impressive CAGR of over 12% during the forecast period. Increased hygiene consciousness and high protection against cross-contamination are factors for the growth of the segment. In terms of accuracy, however, in-ear thermometer is reported to provide more accurate readings than forehead thermometer. In addition, the increased affordability of healthcare facilities and medical devices among consumers in developed economies is further increasing the demand for diagnostic products including, infrared thermometer. Improving government investments in the healthcare industry are driving the market for infrared thermometer.
The presence of forehand, as well as in-ear functionalities in multifunction non-contact thermometer, is a key driver for the segment. As the application of these devices is gaining popularity in varied age groups, the market share is likely to increase during the forecast period. Furthermore, vendors are implementing new innovations such as intelligent light indicators to indicate different fever levels. Hence, the introduction of smart technologies, which allows the thermometer to be connected to an external mobile application via Bluetooth to store or record the temperature readings, is projected to increase the growth of the segment.
The veterinary thermometer segment accounted for the largest market share in 2018. The convenience offered by non-contact infrared thermometer to measure body temperatures in animals is increasing their application among veterinarians. Hence, the increasing adoption on these devices is likely to influence market growth. Further, the rising number of veterinary hospitals, clinics, and laboratories is growing, thereby boosting the demand for veterinary medical products. The growth of pet population, the increasing penetration of pet insurance, the rise in the pet humanization concept, and the increased awareness of animal welfare needs through social media are also driving veterinarian medical products.
The medical segment is expected to witness an incremental growth of $147 million by 2024. The ease of usage of non-contact thermometer is driving the demand in the medical segment. Adults constitute one of the largest consumer bases in the APAC region. The increase in the aging population would further support the sales of healthcare or medical devices in the European region, thereby boosting the demand for non-contact thermometer. Moreover, the rising incidence of chronic lifestyle diseases worldwide is likely to support the growth of the market. With growing penetration of medical devices, the demand is expected to grow rapidly during the forecast period.
North America is expected to grow significantly during the forecast period on account of the growing healthcare in the US and Canada. The growing awareness of contagious diseases in these countries would also support the growth of the market. Consumers in the region are increasingly spending on innovative and advanced healthcare equipment, which is likely to favor the growth. Thus, the increasing expenditure on personal healthcare and durable medical products is driving the market.
The APAC region has strong growth prospects due to the growing aging population, expanding public health insurances, growing middle-class segment, and encouraging private and foreign investments in the healthcare sector. Therefore, vendors have tremendous growth opportunities as hospitals across the region are demanding highly advanced equipment and supplies for treating a diverse range of diseases.
Healthcare spending is expected to rise by an average of 10% annually in Africa. Despite financial limitations in many African countries, geopolitical instability, and low per capita healthcare spending, the overall trend is positive for the non-contact thermometer market in the region. Saudi Arabia, South Africa, Iran, Israel, the UAE, Egypt, Nigeria, Kuwait, and Oman are the major revenue contributors in the MEA region. Favorable government initiatives, evolving health insurance schemes, and growing healthcare expenditure from both public and private entities are driving the demand for healthcare equipment.
Latin America was the second largest market for non-contact thermometer globally in 2018. The presence of a large healthcare industry in countries such as Brazil and Mexico is primarily supporting the growth in the region. Other factors include aging population, increasing incidence of lifestyle and communicable diseases such as obesity, diabetes, and heart diseases are further boosting the healthcare expenditure in the country.
Europe is a major hub for the global medical devices market. Several European countries such as, Germany, France, and Sweden are leaders in the medical device market. With the presence of the technologically advanced medical devices, the non-contact thermometer has significant growth opportunities in the region.
Key Vendor Analysis
The global non-contact thermometer market is highly fragmented and dynamic due to the presence of a large number of global, regional, and local players offering a wide range of products. The market is highly competitive, and vendors must focus on implementing several marketing strategies in order to maintain a competitive edge over others. The rapidly changing technological environment has a significant impact as patients and healthcare practitioners are looking for products and solutions with innovative and advanced features. The competition is expected to intensify during the forecast period with an increase in product approvals, technological innovations, and strategic acquisitions. It is expected that global players would grow inorganically by acquiring regional or local players in the future. Major players have a broad range of product portfolios. They make high R&D investments and develop innovative and technologically advanced products, thereby restricting small and medium-sized vendors from capturing higher shares.
Other Prominent Vendors
Key Market Insights
The analysis of the non-contact thermometer market provides sizing and growth opportunities for the forecast period 2019–2024.
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