iCrowdNewswire Jan 27, 2021 2:00 AM ET
The global patient temperature monitoring market is growing rapidly, witnessing huge demand. Moreover, the recent coronavirus epidemic is estimated to bring a heavy rise in market sales. The demand for advanced devices for remote monitoring of patient temperature is hiking due to social distancing norms imposed to control the spread of COVID 19.
According to Market Research Future (MRFR), the already booming global patient temperature monitoring market is estimated to grow at 6.1% CAGR during the forecast period (2017-2023).
While unleashing its recent patient temperature monitoring market insights, MRFR states that the market size reached USD 3,100 MN in 2017. The rising prevalence of severely infectious diseases such as lower respiratory infections, diarrheal diseases, and tuberculosis creates enormous market demand.
Global Patient Temperature Monitoring Market – Regional Analysis
North America dominates the global patient temperature monitoring market. The largest market share attributes to the presence of major market participants and comparatively higher adoption of advanced medical devices in increasing numbers of advanced healthcare centers. Besides, rapid technological advances, excellent reimbursement frameworks, and early uptake of advanced technologies in healthcare increase foster market growth.
Also, high healthcare expenditures provide a large impetus to the patient temperature monitoring market size in the region. The North American patient temperature monitoring market is estimated to retain its leading position in the global market throughout the review period.
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Europe stands second in the global patient temperature monitoring market. Market growth is driven by the availability of funds for research and the high adoption of advanced temperature monitoring devices in the region.
Global Patient Temperature Monitoring Market – Segments
The report is segmented into five dynamics;
By Product: Wearable Continuous Monitoring Sensors, Smart Temperature Monitoring Patches, and Table-Top Temperature Monitoring Devices (Non-invasive Vital Signs Monitoring Devices, Continuous Core Body Temperature Monitoring Devices, others), Handheld Temperature Monitoring Devices (Mercury Thermometers, Digital Thermometers, Infrared Thermometers, Invasive Temperature Monitoring Devices, and others.
By Site: Non-invasive Temperature Monitoring (Oral, Axillary & Temporal Artery Temperature Monitoring, Tympanic Membrane Temperature Monitoring) and Invasive Temperature Monitoring (Esophageal Temperature Monitoring, Nasopharynx Temperature Monitoring, Urinary Bladder Temperature Monitoring, Rectal Temperature Monitoring).
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By Application: Anesthesia, Hypothermia, Blood Transfusion, Pyrexia/Fever, and others.
By End User: Hospitals & Clinics, Nursing Facilities, Home Care, Ambulatory Care Centers, and others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Players leading the global patient temperature monitoring market include Masimo, Microlife, Koninklijke Philips N.V., Terumo Corporation, Microlife Corporation, 3M, American Diagnostic Corporation, Braun (Subsidiary of Procter & Gamble), Cardinal Health, Drägerwerk AG & Co. KGaA, and Hill-Rom Holdings, among others.
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