Thermometer Industry Overview
The global thermometer market size is anticipated to reach USD 2.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.7% from 2022 to 2030. Increase in demand for accurate medical devices and requirement of specific temperature conditions influences market growth.
Rising cases of medical ailments involving accurate measurement of body temperature for the treatment planning, and requirement of specific temperature conditions in various industries is likely to heighten demand for thermometers during the forecast period. Rise in health consciousness coupled with increase in healthcare expenditure is also anticipated to fuel market growth further in coming decade.
Thermometer Market Segmentation
Grand View Research has segmented the global thermometer market on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into Mercury-based Thermometers and Mercury-free Thermometers
- The mercury- free thermometers segment has dominated the market and accounted for revenue share of 64.2% in 2021 which can be attributed to high adoption and user-friendliness.
- In addition, mercury-free thermometers are also expected to witness significant growth at a CAGR of 11.3% by 2030. It is further segmented into digital thermometers, infrared radiation thermometers, and others.
Based on the Application Insights, the market is segmented into Medical, Industrial, Food, Laboratory, and Others
- The medical thermometer application dominated the market and accounted for revenue share of 28.4% in 2021. The segment includes hospital, clinics, and primary healthcare centers.
- This can be attributed to presence of well-established healthcare infrastructure and high incidence of diseases requiring body temperature assessment.
- One of the major reasons for the growth of this segment is technological advancements in thermometers.
- Whereas, the industrial application segment is expected to show lucrative growth over the forecast period as pharmaceuticals, chemical, and biotechnology companies require specific temperature maintenance during various stages of product development.
Thermometer Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Key strategic initiatives of these companies involve development of new products, and mergers and acquisitions to cater to the growing needs of the consumer. For instance, in November 2018, Briggs Healthcare acquired Selman-Holman and Associates, a service consulting firm, to expand its education and compliance solutions for home health industry. Furthermore, introduction of cost-effective and innovative alternatives are the key strategies implemented by the major players to gain maximum share and survive competition in the market. Moreover, the companies are expanding geographically to cater to the untapped market of thermometer along with many acquisitions. For instance, in January 2019, Exergen Corporation introduced PEKO thermal dynamic management solution. This solution will allow manufacturers to safely increase their industrial processes, while ensuring processing temperatures to safely be within the mentioned specifications. Thus, such initiatives are expected to boost the company’s market revenue during the forecast period.
Some prominent players in the global Thermometer market include:
- Medline Industries, Inc.
- 3M
- Welch Allyn
- America Diagnostics Corporation
- A&D Medical
- Exergen Corporation
- Microlife Corporation
- RG Medical Diagnostics
- Medtronic
- Terumo Corporation
- Actherm Inc.
- Briggs Healthcare
- OMRON Healthcare Inc.
Order a free sample PDF of the Thermometer Market Intelligence Study, published by Grand View Research.
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