Patient Temperature Monitoring Market is expected to reach US$ XX Bn by 2026 at a CAGR of 5.5 % during the forecast period.
A patient temperature monitor is a portable measurement device that is capable of autonomously recording temperature over a sharp period of time. A patient temperature monitoring device is usually used to monitor shipments in a cold chain and to gather temperature data from diverse field conditions.
Increasing awareness regarding remote monitoring in outpatient settings and high patient pool having long-term pathologies would create commercial opportunities in this market. Furthermore, a high cost of these devices and the lack of awareness in developing nations may hamper the market growth. Additionally, the risks associated with invasive monitoring devices are anticipated to challenge market growth to a certain extent in the coming years.
Patient temperature monitoring market is segmented by product, site, application, end user, and region. Among products, tabletop temperature monitoring devices segment market accounted for the XX% share in 2018 due to its advanced features, a high cost of alternative devices and raising awareness for continuous patient monitoring.
Based on sites, non-invasive temperature monitoring is expected to be one of the fastest growing segments in the forecast period. The market growth can be attributed to technological advancement in temperature measurement.
Among regions, the North America region is expected to grow at the XX% CAGR during the forecast period due to significant adoption of wireless portable temperature monitoring devices and rising adoption of fitness tracking devices by sports industry. The Asia Pacific region is expected to grow at the XX% CAGR during the forecast period due to increasing per capita income, growing public health awareness, healthcare expenditure, the rising prevalence of lifestyle diseases, improving treatment rates, better newborn screening programs, and improvement in healthcare access.
The industry player’s focus on strategic partnerships, mergers and collaborations, as well as innovative product, launches to expand their business product portfolio as main strategies.
There is a sturdy growth in the production as new companies are entering the patient temperature monitoring market. For example, in May 2016, a leading medical devices company, Medtronic (Ireland) announced its intentions to enter the patient temperature monitoring market.
In the patient temperature monitoring market, 3M (US), holds the leadership position due to production capacity expansion, brand portfolio expansion, mergers, collaborations, and acquisitions. In 2018, the company has adopted new product launches, product enhancements, and geographic expansion as its crucial business plans to certify its dominance in this market.
The objective of the report is to present a comprehensive analysis of the Global Patient Temperature Monitoring Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors in the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Patient Temperature Monitoring Market dynamics, structure by analyzing the market segments and project the Global Patient Temperature Monitoring Market size. Clear representation of competitive analysis of key players by End-User Industry, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Patient Temperature Monitoring Market make the report investor’s guide.
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The scope of Patient Temperature Monitoring Market report:
Patient Temperature Monitoring Market, by Product
• Wearable Continuous Temperature Sensors
• Smart Temperature Monitoring Patches
• Table-top Temperature Monitoring Devices
o Noninvasive Vital-signs Monitoring Devices
o Continuous Core Body Temperature Monitoring Devices
• Handheld Temperature Monitoring Devices
o Mercury Thermometers
o Digital Thermometers
o Infrared Thermometers
• Invasive Temperature Monitoring Devices
Patient Temperature Monitoring Market, by Site
• Noninvasive Temperature Monitoring
o Oral Temperature Monitoring
o Axillary and Temporal Artery Temperature Monitoring
o Tympanic Membrane Temperature Monitoring
• Invasive Temperature Monitoring
o Esophageal Temperature Monitoring
o Nasopharynx Temperature Monitoring
o Urinary Bladder Temperature Monitoring
o Rectal Temperature Monitoring
Patient Temperature Monitoring Market, by Application
• Blood Transfusion
• Other Applications
Patient Temperature Monitoring Market, by End User
• Hospital and Surgical Centers
• Nursing Facilities
• Home care
• Ambulatory Care Centers
• Other End Users
Patient Temperature Monitoring Market, By Region
• North America
• Latin America
Key Players in Patient Temperature Monitoring Market
• Cardinal Health
• Koninklijke Philips N.V
• Hill-Rom Holdings
• Drägerwerk AG & Co. KGaA
• Cardinal Health
• Koninklijke Philips N.V.
• Hill-Rom Holdings
• Drägerwerk AG & Co. KGaA
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