Thermometer Market Size Worth $2.34 Billion By 2028 | CAGR: 8.5%: Grand View Research, Inc.

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Feb 24, 2021, 05:05 ET

SAN FRANCISCO, Feb. 24, 2021 /PRNewswire/ -- The global thermometer market size is expected to reach USD 2.34 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.5% from 2021 to 2028. An increase in the demand for accurate medical devices and the requirement of specific temperature conditions influence the market growth. The rising cases of medical ailments involving accurate measurement of body temperature for the treatment planning and requirement of specific temperature conditions in various industries are likely to heighten the demand for thermometers during the forecast period. The rise in health consciousness, coupled with an increase in healthcare expenditure, is also anticipated to fuel market growth further in the coming decade.

Key suggestions from the report:

Based on product, mercury-free thermometers dominated the market with a share of 62.52% in 2020 and are expected to witness significant growth from 2021 to 2028. This can be attributed to the high adoption owing to cost-effectiveness, higher efficacy, and beep indication on temperature fluctuations
On the basis of application, the medical segment dominated the market with a share of 28.53% in 2020 owing to the high prevalence of diseases, which require body temperature assessment for the treatment planning
North America dominated the market with a revenue share of 34.45% in 2020 owing to the increasing incidences of infectious diseases, such as COVID-19 and Influenza, and the presence of well-established healthcare facilities in this region

Read 110 page research report with ToC on "Thermometer Market Size, Share & Trends Analysis Report By Product (Mercury-based, Mercury-free), By Application (Medical, Industrial, Food, Laboratory), By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/thermometer-market

The increasing prevalence of target diseases, such as malaria, dengue, typhoid, and swine flu, which cause fever, is anticipated to be a high-impact rendering driver of the market. Malaria is one of the most fatal diseases and is one of the leading causes of death globally. According to the World Malaria Report 2019, an estimated 229 million cases of malaria were observed in 2019 globally.

Furthermore, rapid technological advancements in temperature monitoring devices are increasing the acceptance of these devices by people. For instance, in 2018, Optics developed upgrades for its compact infrared thermometers, which improved their speed and flexibility for industrial use. This is expected to boost the market growth during the forecast period.

Grand View Research has segmented the global thermometer market on the basis of product, application, and region:

Thermometer Product Outlook (Revenue, USD Million, 2016 - 2028)

Mercury-based Thermometers
Mercury-free Thermometers

Infrared Radiation Thermometers
Digital Thermometers
Others

Thermometer Application Outlook (Revenue, USD Million, 2016 - 2028)

Medical
Industrial
Food
Laboratory
Others

Thermometer Regional Outlook (Revenue, USD Million, 2016 - 2028)

North America

U.S.
Canada

Europe

U.K.
Germany

Asia Pacific

Japan
China
India

Latin America

Mexico
Brazil

Middle East and Africa (MEA)

South Africa

List of Key Players of Thermometer Market

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

Find more research reports on Medical Devices Industry, by Grand View Research:

U.S. Medical Thermometer Market – Increasing cases of COVID-19, influenza, norovirus, and other medical conditions, and rising awareness about the importance of monitoring body temperature are the major factors expected to drive the market.
Reference Thermometer Market – The global reference thermometer market size is expected to reach USD 12.91 million by 2025 at a 5.4% from 2018-2025.
Medical Thermometer Market – A growing number of medical conditions such as, dengue, swine flu, and malaria that requires precise body temperature assessment for deciding the treatment options is driving the market.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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