A Better Approach To Medical Thermometer and Impact of COVID-19……..Posted by Mrudula Anil Karmarkar on February 8th, 2021 The global medical thermometer market size is anticipated to reach USD 1.0 billion by 2027, expanding at a CAGR of 18.0%, according to a new report by Grand View Research, Inc. An increase in the prevalence of viral diseases such as COVID-19, Influenza, Norovirus, and other medical conditions is driving the market. A growing number of medical conditions such as, dengue, swine flu, and malaria that requires precise body temperature assessment for deciding the treatment options is driving the market. According to the WHO, in 2018, more than 228.0 million cases of malaria globally, and 405,000 deaths were recorded. Symptoms of malaria include fever and chills. Therefore, with the increasing prevalence of such diseases, is driving the market. Moreover, growing demand for contactless thermometers such as infrared electronic thermometers after the breakthrough of COVID- 19 pandemic is expected to boost the market growth. As compared to contact type, Non-contact Infrared Thermometers (NCITs) are frequently used in COVID-19 pandemic and other infectious diseases. Since there is a high risk of infection via components of the contact type temperature measuring devices. Therefore, the adoption of NCITs has increased. The rising number of cases has led to a shortage of medical supplies, thus, local players are manufacturing products on a larger scale to meet the growing need. For instance, Kinsa, Inc., distributed around 7,500 Bluetooth-enabled smart medical thermometers to community-based organizations and underserved individuals. This medical thermometer can pair up with smartphone apps, and allow tracking of real-time COVID-19 hot spots across the U.S. Furthermore, the introduction of new products and the integration of new technologies by market players are expected to boost market growth during the forecast period. For instance, MicroLife launched Bluetooth-enabled forehead thermometer, which reflects temperature readings on smartphones. The global medical thermometer market size was valued at USD 274.1 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 18.0% from 2020 to 2027. An increase in the prevalence of infectious diseases such as COVID-19, influenza, and other medical conditions such as malaria and dengue, as well as raising awareness about the importance of body temperature monitoring, are the major factors driving the market. In addition, growing demand for multifunction non-contact clinical electronic thermometers is also contributing to market growth. The major factors impacting the growth of the market are the growing prevalence of target diseases, increasing operations by the local and small-sized players, and rapid technological advancements. The outbreak of COVID-19 has created large-scale opportunities for local manufacturers. Due to the restrictions on movement at international borders, the supply chain of major players has been disrupted. This has created an opportunity for local players to enter the market. Medical Thermometer Market Report Highlights
The rising number of cases has led to a shortage of medical supplies, thus, local players are manufacturing products on a larger scale to meet the growing need. For instance, Kinsa, Inc., distributed around 7,500 Bluetooth-enabled smart medical thermometers to community-based organizations and underserved individuals. This medical thermometer can pair up with smartphone apps, and allow tracking of real-time COVID-19 hot spots across the U.S. In addition, the worldwide rise in viral diseases, including the current pandemic of coronavirus, is affecting the number of people having fever, cold, and cough at an exponential rate. As per the WHO statistics on June 2, 2020, there were 10.5 million confirmed cases globally, out of which 512,311 people died. Since high fever is a major symptom of COVID-19, and other infections, thus, there has been a sudden surge in demand for medical thermometers due to the rising need for temperature screening and monitoring. This is expected to boost the demand for medical thermometers over the forecast period. Moreover, the introduction of new regulations on the marketing of clinical electronic thermometers by the U.S. FDA in April 2020 because of the outbreak of COVID-19 has boosted the sale of medical thermometers drastically around the world. This policy eases some regulatory requirements normally required for the development of clinical electronic thermometers and permits the import of these thermometers during this pandemic without obtaining FDA 510(k) pre-clearance. The FDA will not object to the marketing, distribution, and use of medical thermometers that are not presently 510(k) cleared unless they create undue risks. This policy is only effective for the duration of this public health emergency declared by the Department of Health and Human Services, thus boosting the market growth. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/450758/ibb Grand View Research has segmented the global medical thermometer market on the basis of patient demographic, product, point of measurement: Medical Thermometer Patient Demographic Outlook (Revenue, USD Million, 2016 - 2027)
Medical Thermometer Product Outlook (Revenue, USD Million, 2016 - 2027)
Medical Thermometer Point of Measurement Outlook (Revenue, USD Million, 2016 - 2027)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |