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The Patient Temperature Monitoring Market Size Is Expected To Reach $6 Billion Due To The Rising Prevalence Of Diseases As Per The Business Research Company's Patient Temperature Monitoring Global Market Report 2023

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

/EIN News/ -- LONDON, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the patient temperature monitoring market identifies the rising incidence of diseases to propel the growth of the patient temperature monitoring market going forward. Diseases are disorders caused by organisms such as bacteria, viruses, fungi, or parasites. Some infectious diseases can be passed from person to person and some are transmitted by insects or other animals. The temperature change is a crucial factor in determining the sickness. It is anticipated that the connection between temperature variation and illness occurrence would increase the adoption of monitoring systems. For instance, according to The World Health Organization, Switzerland-based a specialized agency of the United Nations responsible for international public health, in 2022, noncommunicable diseases (NCDs) are responsible for 41 million deaths worldwide each year, or 71% of all fatalities. Also, every year, 17.9 million people die from cardiovascular illnesses, making them a significant contributor to NCD fatalities. Cardiovascular illness was the leading cause of mortality, followed by cancer (9.3 million), respiratory conditions (4.1 million), and diabetes (1.5 million). Therefore, the rising prevalence of diseases will continue to drive the patient temperature monitoring market.

The global patient temperature monitoring market size is expected to grow from $4.26 billion in 2022 to $4.62 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The patient temperature monitoring market size is expected to grow to $6.28 billion in 2027 at CAGR of 8.0%.

Learn More In-Depth On The Patient Temperature Monitoring Market

Technological advancements are a key trend gaining popularity in the patient temperature monitoring market. Major companies operating in the patient temperature monitoring market are focused on developing new technological solutions to strengthen their position in the market. For instance, in May 2020, Masimo, a US-based medical technology company, launched the Radius T continuous thermometer, a more convenient way to monitor fever. Unlike spot-check, episodic thermometers, the wearable, wireless Radius T monitors body temperature continuously, seamlessly transmitting data and customizable temperature notifications to the user’s smartphone, enabling caregivers, such as parents, to monitor patients’ temperatures even while they sleep.

The global patient temperature monitoring market analysis is segmented by type into contact-based temperature monitoring systems, non-contact-based temperature monitoring system; by site into non invasive temperature monitoring, invasive temperature monitoring; by application into pyrexia/fever, hypothermia, blood transfusion, anesthesia, other applications; by end user into hospital and surgical centers, nursing facilities, ambulatory care centers, home care, other end users

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Major players in the patient temperature monitoring market are Cardinal Health Inc., 3M Company, Koninklijke Philips N.V., Drägerwerk AG & Co., Microlife Corporation, Becton Dickinson and Company, Omron Healthcare Inc., Masimo Corporation, Braun GmbH, Terumo Corporation, Paul Hartmann AG, Beurer GmbH, Easytem Co., Ltd., Omega Engineering Instrumentation Company, iHealth Lab Inc., DeltaTrak Inc., Exergen Corporation, Medisana GmbH, Geratherm Medical AG, Nureca Healthcare Private Limited, A&D Medical Blood Pressure Monitor, Actherm Inc., Cosinuss GmbH, Vandelay (SFT Technologies India Pvt Ltd), and Kinsa Inc.

North America was the largest region in the patient temperature monitoring market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the patient temperature monitoring market research are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Patient Temperature Monitoring Market Global Report 2023 by The Business Research Company provides insights on the patient temperature monitoring market size, patient temperature monitoring market segments, patient temperature monitoring market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 3,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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