The global thermometer market size was exhibited at USD 7.74 billion in 2022 and is projected to attain around USD 3.4 billion by 2030, poised to grow at a strong CAGR of 8.74 percent during the projection period from 2022 to 2030. It is a device that helps to measure the body temperature of the individual with or without coming in contact with the surface of the body directly.
Report Highlights:
Thermometer Market Report Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 1.89 Billion |
| Projected Forecast Revenue in 2030 | USD 3.4 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 8.74% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2022 To 2030 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Regional Snapshots:
The region of North America has emerged as the largest market for thermometers as a result of the huge number of people belonging to the geriatric population. The higher disposable income that is available with the people emerges as another reason for the adoption of advanced healthcare facilities. The active participation of the government with a view to providing advanced healthcare services to the people has helped the thermometer market to record a considerable revenue. Significant growth has been foreseen in the region of Asia Pacific as a result of the huge number of advanced healthcare facilities that are provided to the people by the government. The increasing number of hospitals and healthcare centers in this region has emerged as a major growth factor for the thermometer market. The growth of the market has been supported by the economic advancements that have taken place in the region of China and Japan.
Drivers:
The increasing acceptance to modern technology among potential consumers all over the world has emerged as a major driving force for the growth of the thermometer market. During the course of the pandemic, numerous advanced technologies were launched into the market with a view to prevent the spread of diseases which in turn benefited the thermometer market as well. The safety that is provided to the health care workers with the help of advanced thermometers proves to be a boon for the medical industry. Screening of body temperature became the most common pattern of examination which helped the market to record a considerable revenue over the period of time. Various sectors all over the world made use of infrared thermometers for screening the body temperature of individuals entering into the public space. The outbreak of the pandemic had a positive impact on the growth of the thermometer market as a result of a huge number of people who demanded advanced machines for evaluating body temperature.
Restraints:
The lack of skilled workforce who are able to handle advanced infrared thermometers emerges as a major restraining factor for the growth of the market. The screening of a huge crowd emerges as a major restraining factor for the growth of the thermometer market. The results that are provided by the use of infrared digital thermometers is questionable in certain cases which proves to be a major obstacle for the growth of the market. Extreme temperature that are presented in certain regions emerge as a major obstacle for the final results that are produced with the help of digital thermometers. External climatic conditions have a negative impact on the results that are produced with the help of digital thermometers.
Opportunities:
The next generation of infrared thermometers found a great opportunity during the course of the pandemic as the initial stages of the infrared thermometers lacked the accuracy and efficiency that was expected out of it. The increasing demand for public safety and facilities has helped the thermometer market to record considerable revenue over the period of time. Increasing awareness among the people regarding the various health care facilities that are provided by the government has a road to be a boon for the thermometer market. The outbreak of the pandemic emerged as a major opportunity for the growth of the thermometer market as a result of the restrictions that were laid down by the government. The protocol of measuring the body temperature without coming in contact with the individual helped the infrared thermometer market to record a considerable revenue.
Challenges:
The high cost associated with the utilization of advanced infrared thermometers has emerged as a major obstacle for the growth of the market. The lack of aftersales service regarding infrared thermometers has also proved to be a challenge for the growth of the market. The negative impact of the external climatic conditions on the final results that are produced by the digital thermometers has discouraged potential consumers regarding the accuracy of the machine. The lack of trained individuals in this society who can utilize infrared digital thermometers has emerged as another challenging factor for the growth of the market. Technical errors that are produced with the digital thermometers as a result of moisture and extreme climatic conditions prove to be another obstacle for the growth of the market.
Key Market Developments:
Major Key Players:
Market Segmentation:
By Product
By Application
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