Wearables is fastest growing segment fueling the growth of Body Temperature Monitoring Market

 

Body temperature monitoring involves the use of medical devices to track, measure, record, and monitor human body temperature. Devices used for body temperature monitoring include thermistors, thermocouples, digital thermometers, and wearable body temperature trackers. These devices help in identifying conditions like fever, infection or hypothermia.

The global Body Temperature Monitoring Market is estimated to be valued at US$ 1.5 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends in the body temperature monitoring market is the increasing demand for wearable body temperature trackers. These wearable devices for temperature monitoring are discrete, wireless devices that can track temperature over extended periods. They eliminate the need for oral, underarm, or rectal temperature measurements. Continuous temperature monitoring helps provide early detection of fever or fluctuations indicating infection or other issues. The demand for such wearable temperature trackers is increasing among both healthcare providers as well as individuals for personal health monitoring. This is expected to drive significant growth in the body temperature monitoring market during the forecast period.
Segment Analysis
The global body temperature monitoring market is segmented based on product type, application, and end user. Based on product type, the market is classified into contact thermometers, non-contact thermometers, and thermal cameras/scanners. The non-contact thermometers segment dominated the market in 2022 owing to advantages such as convenience, speed, accuracy, and hygiene. Non-contact thermometers do not require direct skin contact, thereby reducing the risk of cross-contamination.

Key Takeaways
The global body temperature monitoring market is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period, due to increasing prevalence of infectious diseases like COVID-19.

The market size for body temperature monitoring is expected to reach US$ 1.5 Bn in 2023. North America dominated the global market in 2022 due to high COVID-19 infection rates and supportive government initiatives in the region. Asia Pacific is expected to be the fastest growing market during the forecast period due to rising healthcare expenditure and increasing awareness regarding infectious disease diagnosis in countries like China and India.

Key players operating in the body temperature monitoring market are Regent Pacific Group Limited, Menarini Group, Furiex Pharmaceuticals, Inc., Absorption Pharmaceuticals, LLC, Ampio Pharmaceuticals, Inc., Aytu BioScience, NeuroHealing Pharmaceuticals Inc., and Dong-A Pharmaceutical Co., Ltd. These players are focusing on new product launches and mergers & acquisitions to strengthen their market position.

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