The patient temperature monitoring market projected to grow at a CAGR of 4.7%

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Sep 19, 2018, 19:30 ET

LONDON, Sept. 19, 2018 /PRNewswire/ -- The patient temperature monitoring market projected to grow at a CAGR of 4.7%. The global patient temperature monitoring market is projected to reach USD 3.21 billion by 2023 from USD 2.55 billion in 2018, at a CAGR of 4.7%. Rising prevalence of infectious diseases, increasing geriatric and pediatric population, increasing number of surgical procedures, growing number of blood transfusion procedures, rising awareness about continuous temperature monitoring, and increasing demand for advanced temperature monitoring devices are the factors expected to drive the market during the study period. However, the high cost of advanced temperature monitoring devices and low awareness of noninvasive and continuous temperature monitoring devices in developing countries are the factors restraining the growth of this market to a certain extent.

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The pyrexia/fever segment is expected to be the fastest-growing segment during the forecast period.
By application, the patient temperature monitoring market is segmented into pyrexia/fever, hypothermia, blood transfusion, anesthesia, and other applications.The pyrexia/fever segment is expected to register the highest growth during the forecast period.

The high growth of this segment is attributed to the growing prevalence of infectious diseases, growing number of trauma and hemolysis cases, growing preference for non-invasive monitoring, increasing availability of non-contact thermometers, and rising geriatric population.

Asia Pacific is expected to grow at the highest CAGR during the forecast period.
Asia Pacific is expected to register the highest growth rate during the forecast period due the growing demand for cosmetic surgeries, increasing pediatric population, increasing prevalence of lifestyle diseases, rising blood donations and transfusion cases, rising incidence of infectious diseases, government efforts to increase access to elective surgeries, and improving healthcare infrastructure.

Breakdown of supply-side primary interviews:
• By Company Type - Tier 1 – 45%, Tier 2 – 30% and Tier 3 – 25%
• By Designation – C-level – 25%, Director-level – 30%, Others – 45%
• By Region – North America - 45%, Europe – 5%, APAC – 35%, RoW – 15%

The major players in the patient temperature monitoring market are 3M (US), Cardinal Health (US), Koninklijke Philips N.V. (Netherlands), Hill-Rom Holdings (US), Drägerwerk AG & Co. KGaA (Germany), Terumo Medical Corporation (Japan), Masimo Corporation (US), Microlife Corporation (Taiwan), Procter & Gamble (US), and American Diagnostic Corporation (US).

Research Coverage
This report studies the patient temperature monitoring market based on product, site, end user, and region.The report studies factors affecting market growth, analyzes opportunities and challenges in the market, and provides details of the competitive landscape for market leaders.

Furthermore, the study analyzes micromarkets with respect to their individual growth trends. The research report forecasts the revenue of market segments with respect to the four key regions and respective countries.

Reasons to Buy the Report:
From an insights perspective, this research report focuses on various levels of analysis— market ranking analysis of top players and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging segments of the patient temperature monitoring market; and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, will help firms garner greater market shares.

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