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The body temperature monitoring market comprises of products such as thermometers, invasive and non-invasive wearables for continuous body temperature monitoring. Rising incidence of fever and the need for early detection for treatment, has increased demand for thermometers for clinical and home use. Body temperature monitoring products allow remote monitoring of patient’s temperature by healthcare providers and caregivers, avoiding unnecessary visits to clinics or hospitals.
The Global Body Temperature Monitoring Market is estimated to be valued at US$ 1.5 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period from 2024 to 2030.
Key Takeaways
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. The increasing demand for remote patient monitoring solutions especially post-pandemic has opened key opportunities for the manufacturers to provide integrated devices for continuous monitoring. Technological advancements such as wireless and wearable thermomters offering continuous temperature readings, mobile/cloud data storage and integration with telehealth platforms are fueling adoption of body temperature monitoring products.
Market Drivers
Remote patient monitoring is driving demand for continuous body temperature monitoring devices. Incorporation of technologies like wireless connectivity, cloud integration and mobile applications in fever monitoring products facilitate remote data sharing with healthcare providers. This helps in timely detection of fever and related health conditions without physical check-ups. The need for social distancing amid the pandemic has further increased adoption of fever monitoring wearables for continuous, non-invasive body temperature assessment and remote patient care.
Current Challenges in Body Temperature Monitoring Market
The body temperature monitoring market is currently facing challenges related to data privacy and security concerns. As body temperature monitoring devices collect sensitive health data, there are risks of data breaches which can compromise patient privacy. Device interoperability is another challenge as different brands use varying technologies and formats for recording and sharing temperature readings. Gaining public acceptance for continuous temperature monitoring also requires addressing concerns around social stigma.
SWOT Analysis
Strength: Advanced digital thermometers provide quick, accurate and continuous temperature readings. Wearable patches and smart labels allow for remote, non-invasive monitoring.
Weakness: High device costs limit widespread adoption. Reliability issues exist with Bluetooth and WiFi connectivity of connected devices.
Opportunity: Growing geriatric population and rising incidence of fever-related conditions increase demand. Expanding applications in athletics, military, workplaces present new markets.
Threats: Strict regulations around medical devices require extensive testing and certification. Entry of low-cost alternatives from smaller companies increases competition.
Geographical Regions of Concentration
North America currently accounts for the largest share of the body temperature monitoring market value owing to rapid technology adoption, healthcare spending and presence of key industry players in the US and Canada. Asia Pacific is poised to become the fastest growing regional market driven by outbreak of infectious diseases, large patient pools and improving access to digital healthcare in India and China.
Fastest Growing Geographical Region
Asia Pacific region is projected to witness the fastest growth in the body temperature monitoring market during the forecast period. Factors such as rising healthcare expenditure, growing middle class population, increasing incidence of fever and infections, and rapid digitalization of healthcare systems across major countries including India and China will boost the adoption of body temperature monitoring devices in the Asia Pacific region.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
