Digital Thermometer Market Expected to Reach $1.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Digital Thermometer Market," The digital thermometer market was valued at $757.81 million in 2021, and is estimated to reach $1.3 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.

The growth of the global digital thermometer market is majorly driven by mercury-free thermometers globally paired with increase in number of medical situations around the globe. Moreover, government/institutions initiatives associated with enhancing medical/healthcare infrastructure at regional and global level are expected to propel the digital thermometer market growth during the forecast period. On the contrary, distribution of clinical thermometers and related equipment in remote areas and emerging nations is expected to provide lucrative opportunities for the growth of the digital thermometer market size during the forecast period.

According to Digital Thermometer market analysis, the forehead thermometer segment was the highest revenue contributor to the market in 2021. The contact free segment is expected to reach for around 6.5% CAGR from 2022-2031. Surge in deployment of digital thermometer solutions across healthcare sector has led the growth of the forehead thermometer segment; thereby, enhancing the digital thermometer market growth. In addition, thermopro thermometer and digital room thermometer is expected to see the growth in consumer goods and consumer electronics applications.

The outbreak of COVID-19 has significantly boosted the growth of the digital thermometer market share, owing to constant check on patients’ temperature in hospitals and contact-less temperature checks during travel. Considering the inputs of various industry experts globally, the third wave of COIVID-19 pandemic may significantly boost the growth of digital thermometer market trends across Europe and Asia-Pacific. However, the increase in demand for medical thermometer globally is expected to drive the growth of the digital thermometer market during the forecast period.

Region-wise, Asia-Pacific and Europe holds a significant share in the global digital thermometer market, owing to the presence of prime players in this region. The adoption of forehead thermometer, oral thermometer, and app-based thermometer is expected to propel the growth of the digital thermometer industry in this region. Moreover, rise in launch of commercial and industrial thermometers in North America and LAMEA is anticipated to drive the Digital Thermometer market trends in this region.

KEY FINDINGS OF THE STUDY

• In 2021, the forehead thermometer segment accounted for maximum revenue, and is projected to grow at a notable CAGR, during the forecast period.
• The residential and healthcare segments are expected to witness considerable CAGRs of 6.2% and 5.8% respectively, during the forecast period.
• Asia-Pacific was the highest revenue contributor and is estimated to expand at the highest CAGR.

The key players profiled in the report include A&D Medical (A&D Company, Limited), Actherm Inc. (FORTECHGRP CO., LTD.), AMETEK Land (Land Instruments International Ltd), EXTECH (Teledyne FLIR), Fairhaven Health, Omega Engineering Inc. (Spectris plc), OMRON Healthcare Inc., PCE Holding GmbH, RG Medical Diagnostics and Terumo Corporation. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the Digital Thermometer market.