The increase in the prevalence of chronic and infectious diseases is causing a positive impact on the temperature monitoring devices market. Certain infectious diseases like Dengue, Zika, Malaria, and Ebola require continuous monitoring of temperature to give appropriate treatment and save lives. The temperature of patients with chronic diseases like cardiovascular cases and kidney related diseases have to be monitored continuously, especially when hospitalized. This monitoring gives an overview of the patients' body functioning. Most recently, the coronavirus pandemic has had more than 600,000 positive cases around the globe and as increased body temperature is one of the main symptoms of this disease, the demand for temperature monitoring devices has increased by several folds. Therefore, the prevalence of chronic and infectious disease is expected to propel the market.
The global temperature monitoring devices market is expected to grow from $2.67 billion in 2019 to about $26.7 billion in 2020 due to a massive increase in demand for such devices for constant temperature monitoring of COVID-19 patients. The temperature monitoring devices market growth is expected to stabilize and reach $3.7 billion at a rate of 8.2% through 2023.
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Wearable Equipment Is The Latest Trend In The Temperature Monitoring Devices Industry
The companies in the temperature monitoring devices market are focusing on the manufacturing of wearable temperature monitoring devices. A wearable thermometer is a digital thermometer which measures the temperature by using medium like touch, patch. These medical devices are connected to smart devices like phones, tablets etc. and allow continuous monitoring of temperature. Products like Fitbit, Apple watch, temperature strips, and temperature patches are widely used for monitoring temperature. On June 2019, IWEECARE, a Taiwan-based digital health start-up, received regulatory approval for selling Temppal, a convenient patch of wearable Bluetooth-enabled temperature monitoring devices.
Temperature Monitoring Devices Market Segmentation And Market Size
The temperature monitoring devices market covered in this report is segmented by type into contact-based temperature monitoring systems, non-contact-based temperature monitoring systems, and by application into oral cavity, rectum, ear, others. North America had the largest temperature monitoring devices market share in 2019, while the market in Asia Pacific is forecasted to register the highest growth rate during 2019-2023.
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