Thermometer Market Size, Share, and Trends

The global thermometer market size accounted for USD 1.7 billion in 2022 and is expected to hit around USD 3.9 billion by the end of 2032 with a registered compound annual growth rate (CAGR) of 9.2% during the forecast period 2023 to 2032.

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Key Takeaways

• North America market accounted for 35.7% revenue share in 2022.
• Asia Pacific market is poised to grow at a CAGR of 9.3% from 2023 to 2032.
• By product, the mercury-free thermometers segment has reached a 64.6% revenue share in 2022 and is growing at a CAGR of 11.6% from 2023 to 2032.
• By application, the medical segment has captured a revenue share of around 28.7% in 2022.

This is a temperature measuring equipment that helps to evaluate the present temperature of the surface with which it is in contact. The rapidly increasing number of diseases among people all over the world has emerged as a major factor for the increasing demand of thermometers. The utilization of advanced thermometers in the healthcare sector has also boosted the market to a great extent. The rapid spread of infectious diseases among people all over the world has emerged as a major growth factor for the market. The utilization of temperature monitoring devices for laboratory, industrial, medical imaging, and medical purposes will significantly contribute to the growth of the market during the forecast period. The increasing demand for modern technology and equipment in the healthcare industry as a result of the rapidly increasing number of diseases in society has helped the market to record considerable revenue over the period of time which is expected to grow further.

The outbreak of the pandemic had a considerable impact on the growth of the thermometer market as a result of the huge demand of digital thermometers among healthcare workers. With a view to avoiding contact with the infected patients directly, the utilization of smart thermometers had increased considerably which helped the market to record a considerable revenue. As a result of the pandemic, people became aware of various advanced technologies that have been introduced in the healthcare sector which boosted the demand for advanced thermometers. People have become aware of the various self-healthcare measures that need to be taken which has boosted the demand and supply chain of thermometers in the market. 

Growth Factors

The increasing consciousness among the people regarding the various protective measures that need will be taken during the course of any infectious disease has boosted the demand and supply of advanced thermometers in the market. The increasing demand for high-quality accurate thermometers among the healthcare industries as a result of the rapidly increasing number of diseases in society has helped the market to record considerable revenue over the period of time. Rapid acceptance has been observed among potential consumers for various technologically advanced medical devices and equipment which has emerged as a major reason for boosting the market for thermometers. The active participation of the government for improving the healthcare facilities that are provided to the people has emerged as another growth factor for the thermometer market.

The utilization of infrared thermometers became a very common practice after the outbreak of the pandemic in almost every sector all over the world which helped the market to record considerable revenue over the period of time. Examination and evaluation of the body temperature became the most common pattern of screening individuals before they could enter a common public area. This was done with the help of infrared digital thermometers which helped the market to record a considerable revenue over the period of time.

• Increasing demand for technological advancements.
• Increasing awareness among consumers regarding healthcare facilities.
• Increasing number of infectious diseases spreading in society.

Thermometer Market scope

Thermometer Market Dynamics

Key Market Drivers

• Rapidly increasing number of COVID cases - The huge number of cases that were infected as a result of COVID had a very positive impact on the demand and supply of infrared thermometers which helped the market to record a considerable revenue. Examination of the body temperature was considered as the most common parameter for screening the people before they could enter a common public area which emerged as a major growth factor for the thermometer market. Public places such as malls, banks, stadiums, airports and financial sectors emerged as the major consumers of infrared thermometers with a view to prevent the spread of infection.
• Introduction of advanced technologies- After the outbreak of the pandemic advanced thermometers were launched into the market which could record the body temperature without coming in direct contact with the individual. The utilization of infrared thermometers emerged as the most helpful method for preventing the further spread of infection from the patients to the healthcare workers.

Key Market Challenges

• Restrictions regarding screening of the crowd - After the course of the pandemic was controlled to a certain extent many public places were opened for the people. The mass screening was carried out with the help of infrared thermometers with a view to detect the probable cases of COVID infection.
• Faulty results presented by the thermometer - The utilization of infrared thermometer during the course of the pandemic had issues with the accuracy and results produced by the machine as they captured the reading from the surface that was presented opposite to it. Since the first generation of thermometers were not accurate the next generation was considered.

Key Market Opportunities

• Introduction of next generation thermometers - A proposition was considered during the initial stages of the pandemic that the virus could be destroyed due to the high temperature of the environment during the summer season. The course of the pandemic continued even after extreme temperatures which emerged as a major scope for the introduction of next generation thermometers into the market.
• Industrial utilization of thermometers - Industrial utilization of infrared thermometers as a result of their accuracy and efficiency help the market to record a considerable revenue. Specific sectors were targeted by the key market players for increasing the demand and supply of advanced thermometers.

Product Insights

On the basis of product, the segment of mercury-free thermometer has emerged as the largest segment as a result of the huge demand it has experienced from the potential consumers all over the world. The mercury free thermometers are more user friendly as compared to the other alternatives available in the market. The outbreak of the pandemic had a positive impact on the growth of the segment of mercury free thermometers as a result of the higher risk of spread of infection due to contact. With a view to prevent the spread of infection among the health care workers the government encouraged the utilization of mercury free thermometers which helped the market to record a considerable revenue. 

Though the utilization of mercury-based thermometers is much easier as compared to the other segments in the market many countries all over the world have banned the utilization of such devices. Strict rules and regulations are expected to be seen in the future as a result of the potential risks that are related to these medical equipments. The increasing demand for modern technology among the potential consumers all over the world has boosted the demand for mercury free thermometers.

Application Insights

On the basis of application, the medical application has accounted largest revenue share segment as a result of the huge number of consumers that exist in this particular sector who utilize thermometers on a daily basis for examination. A well-equipped healthcare infrastructure demands the utilization of advanced parameters that helped to provide accurate results. The technological advancements that have been observed in the healthcare sector has emerged as a major growth factor for the increasing demand of advanced thermometers. A lucrative growth has been observed from the industrial sector as a result of the rapid application of infrared thermometers.

The other segments which have contributed significantly to the growth of the thermometer market include biotechnology companies and chemical industries. The accurate results that are provided with the help of the advanced thermometers has emerged as a major growth factor for the market. The high quality of thermometers that are provided in the industrial sector includes various configurations and settings that makes it user friendly. The rapid research and development programs that are carried out by the key market players with a view to introduce modern technology into the market has emerged as a major growth factor for the thermometer market. 

Thermometer Market Share, By Region, 2022 (%)

Regional Insights

Why North America region has emerged as the largest market in the thermometer market?

• The region of North America has emerged as the largest market due to the advanced health care facilities provided to the people by the government. The huge number of patients that exist in this particular region has emerged as a major growth factor for the thermometer market. A huge number of people belonging to the geriatric population suffer with infectious diseases which makes it a major growth factor for this particular region.
• Various initiatives that are taken by the government by organizing health care camps for the people has boosted the demand and supply for advanced healthcare equipment. The pandemic had affected the region of North America to a great extent and hence the demand and supply of advanced thermometers had increased considerably. The existence of the key market players in this particular region has also emerged as a major reason for the growth of the market.

Why Asia Pacific region will grow faster in thermometer market?

• The region of Asia Pacific has also proved to be a huge market for the thermometers as a result of the advanced health care facilities that are provided by the government to the people. Rapidly increasing number of infectious diseases in this region has proved to be a major growth factor for the market. The region of Europe has also proved to be a major contributor as a result of the advanced health care facilities that are provided to the people.
• A number of hospitals that exist in this region is increasing rapidly which provide advanced facilities. The utilization of infrared thermometers in these regions for preventing the spread of infection has proved to be a major boon for the growth of the thermometer market.

Key Market Developments

• In March 2020 - Delta trak introduced its non-contact infrared thermometer which helped to measure the temperature on the forehead of the individual which proved to be a major advancement during the course of the pandemic and hence received approval from the CE and FDA.

Thermometer Market Companies

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

Segments Covered in the Report

By Product 

• Mercury Based Thermometers
• Mercury Free Thermometers
  • Digital Thermometer
  • Infrared Radiation Thermometer
  • Others

By Application

• Industrial
• Laboratory
• Food
• Medical
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)