The global thermometer market size was valued at USD 1.27 billion in 2021 and is projected to reach USD 2.68 billion by 2030, registering a CAGR of 8.64% from 2022 to 2030.
The idea of self-care management as well as substantial developments in temperature monitoring devices were major factors that contributed to the market for thermometers experiencing healthy growth over the course of several years. Conventional thermometers that are based on mercury are quickly being phased out as digital thermometers, in particular, are gaining in popularity as a result of their ability to provide accurate and specific readings.
The unexpected increase in demand for a wide variety of medical equipment, including thermometers, that the recent outbreak of coronavirus caused can be attributed to this sudden rise in demand. As a result of the pandemic, the entire world is on high alert, which highlights the necessity for an extensive program to screen and detect persons who may be infected by the unique COVID-19. Non-contact infrared thermometers are seeing much higher demand than contact thermometers as the need to limit cross-contamination and maximize the safety of humans grows. This is because non-contact thermometers do not require direct skin contact.
|Market Size||USD 2.68 billion|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
Manufacturers are being forced to increase their investment in mercury-free thermometers such as digital and infrared radiation thermometers as a result of the emergence of alternatives to conventional mercury-based thermometers that are both more cost-effective and more accurate. These thermometers are based on mercury.
In addition, an increase in consciousness regarding the deleterious impact that mercury has on the natural world is fueling the development of temperature monitoring technologies that do not use mercury. In addition, it is anticipated that the mercury-free thermometer will be the primary driver of demand for mercury-based thermometers over the course of the next decade.
Thermometers are susceptible to damage from vibration as well as severe temperatures in their surroundings. Both of them have the potential to change the reading on the dial. It is best to practice keeping thermometers away from locations where either of these two elements plays a substantial role. Despite this, it is not always possible to prevent situations like this in an industrial setting. As a result, the growth of the market throughout the time that is anticipated may be hindered by this aspect.
During the pandemic, infrared thermometers were used, but there were problems with their accuracy and the readings they produced because they read the surface directly across from them. The following thermometer generation was considered because the original generation needed to be more accurate.
According to the World Health Organization (WHO), the number of people with dengue fever around the world has substantially increased over the past decade. There is currently a threat to around one-half of the world's population. It is estimated that between 100 and 400 million people become infected every year. It is anticipated that there would be a rise in demand for thermometers as a result of the rising incidence of infectious diseases. It is anticipated that the expansion of this market will be facilitated as a result of this feature.
Advanced thermometers that could measure body temperature without directly touching the subject were introduced to the market after the pandemic's emergence. The most effective strategy for halting illness transmission from patients to healthcare professionals is using infrared thermometers. The idea behind digital thermometers is that metal's electrical resistance varies with temperature. Additionally, various digital thermometer market outlooks are made possible during the projection period by the rising adoption rate of digital infrastructure supported by technological advancement. Thereby providing the opportunity for growth in the market.
The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.
During the period covered by the forecast, North America is anticipated to hold the most share of the market. The presence of key players, a high prevalence rate of infectious diseases in the region, increasing research and development activities, technological advancements, and increasing concern among individuals regarding the management of their self-health care are some of the factors that are supporting the growth of the market. The United States holds the largest share of the healthcare market in this area as a result of legislation that is favorable to the healthcare industry, a large number of patients, and a mature healthcare sector. Infectious and parasitic disorders account for the primary diagnoses of approximately 15.5 million patients who seek medical attention in the United States each year, as reported by the Centers for Disease Control and Prevention (CDC). According to these figures, the expansion of the pool of potential patients and the rise in disposable income in this country are two factors that are contributing to the expansion of the market in this region.
The market is anticipated to see the greatest CAGR in Asia Pacific over the forecast period. High unmet medical requirements, rising rates of target diseases, including malaria, dengue fever, and swine flu, and rising patient knowledge of these issues in the area are some of the main drivers of this industry's profitable expansion. The World Malaria Report 2018 estimates that 94% of Indians are at risk of contracting malaria. Furthermore, market growth is anticipated to be fueled by economic expansion in several Asia-Pacific nations, particularly China and Japan. Throughout the forecast period, the market is anticipated to be driven by rising demand for self-healthcare goods and healthcare facilities that serve the elderly.
The mercury-free thermometers segment has dominated the market and accounted for a revenue share of 64.2% in 2021 which can be attributed to high adoption and user-friendliness. The adoption of mercury-free thermometers such as IR radiation thermometers and digital thermometers is anticipated to gain significant market share as they provide more accurate readings and are not associated with the environmental hazards of mercury. In addition, mercury-free thermometers are also expected to witness significant growth at a CAGR of 11.3% by 2030. It is further segmented into digital thermometers, infrared radiation thermometers, and others.
Whereas, mercury-based thermometers such as liquid-in-glass thermometers are easy-to-use and are employed in laboratories. However, since 2001, almost 20 states have banned the use of mercury-based thermometers, especially for medical use, due to the poisonous effects of mercury. More stringent regulations on the use of these devices are expected to be implemented in the coming years, limiting the use of mercury-based thermometers in various fields. For instance, Analytical Technology and Control Limited will stop supplying customers with ASTM-approved mercury-in-glass thermometers and instead will supply spirit-filled thermometers to their customers.
The medical application dominated the market and accounted for a revenue share of 28.4% in 2021. The segment includes hospitals, clinics, and primary healthcare centers. This can be attributed to the presence of a well-established healthcare infrastructure and the high incidence of diseases requiring body temperature assessment. One of the major reasons for the growth of this segment is technological advancements in thermometers. For instance, the Instant Read Digital Ear thermometer of A&D Company, Limited, markets a thermometer with a one-button operation and it has 10 memory recalls. It aids in easy measurements in 1 second and has an LCD.
Whereas, the industrial application segment is expected to show lucrative growth over the forecast period as pharmaceuticals, chemical, and biotechnology companies require specific temperature maintenance during various stages of product development. Industrial thermometers are selected depending upon their type, size, configurations, display options, features, applications, and operating environments. Moreover, the presence of key players such as Microtemp electrics Co., ltd.; Endress+Hauser Management AG; and LumaSense Technologies, Inc. are expected to aid overall market growth. These factors are anticipated to boost the segment growth during the forecast period.
Biotechnology firms and the chemical sector are application that comes under the other segments that have significantly boosted the thermometer market's expansion. Accurate results delivered with sophisticated thermometers have been a critical driver of market expansion. The high-grade thermometers offered in the industrial sector have several settings and configurations that make them user-friendly. The top market players' aggressive research and development initiatives to bring new technology to consumers are a significant driving force behind the thermometer industry's expansion.