The global patient temperature monitoring market is projected to reach USD 4.9 billion by 2027 from USD 3.6 billion in 2022, at a CAGR of 6.4% during the forecast period . Growth in this market is mostly driven by the rising incidence of infectious diseases coupled with increasing geriatric and pediatirc population along with growing demand for advanced temperature monitoring devices.
The key players in this market are Cardinal Health Inc. (US), 3M (US), Koninklijke Philips N.V. (Netherlands), Drägerwerk (Germany), Hill-Rom Holdings, Inc. (US), Becton, Dickinson and Company (US), Omron Healthcare Inc. (Japan), Masimo Corporation (US), Braun GmbH (Germany), Terumo Corporation (Japan), Paul Hartmann AG (Germany), Beurer GmbH (Germany), Microlife (Taiwan), Omega Engineering (US), iHealth (US), Briggs Healthcare (US), DeltaTrak Inc. (US), Exergen Corporation (US), Medisana GmbH (Germany), Geratherm Medical Ag (Germany), American Diagnostic Corporation (US), Nureca (India), A&D Medical (US), Actherm, Inc. (China), Cosinuss GmbH (Germany), Vandelay (SFT Technologies India Pvt Ltd) (India), Kinsa (US), Easytem Co., Ltd.(South Korea), Hicks Thermometers India Limited (India), and Sanomedics, Inc. (US).
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In 2021, Cardinal Health Inc. (US) held the leading position in the patient temperature monitoring market.The company has maintained a leading position in the market through its strong distribution networks across North America, Europe, the Asia Pacific, and Latin America.Caridnal Health has a strong direct and indirect distribution network across the globe. This supports in shielding its business from demand instabilities in various geographies.
In 2021, 3M accounted for second-largest share of the patient temperature monitoring market. The company is one of the major players in the global patient temperature monitoring market. The company’s wide product portfolio and robust geographic presence have helped it gain a modest edge in the market. 3M has a strong presence across the US, the Asia Pacific, and the European regions. 3M’s investments in R&D to optimize its portfolio and capital allocation strategies help stimulate its future growth and expertise to remain competitive in the patient temperature monitoring market.
Patient Temperature Monitoring Market by Product (Wearable, Digital, Smart, Continuous, Infrared), Site (Axillary, Oral,Tympanic, Invasive), Application (Fever, Anesthesia, Hypothermia), End User (Hospitals, Home Care, ASCs) - Global Forecast to 2027
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