Press Release

Infrared Thermometers Market: North America Emerges with Highest Market Share, APAC To Grow at A Fast Pace Due to Increasing Opportunities

Published Date : 30 Apr 2020

An infrared thermometers is used for to measure temperature of the body without any physical contact. An infrared thermometer is accurate and easy to use. These devices measure temperature on the forehead from a distance between 1.2 and 6 inches from the body. The operational advantage of infrared thermometer is the accuracy, smaller size, low cost, easy to use and less need for setting.

The global infrared thermometers market is expected to see higher number of investments in healthcare sector and increased innovations. Moreover, healthcare providers are now deploying various innovative thermometers to gain productivity, making the best possible use of technology, and offer personalization in care plans for better outcomes. Moreover, a massive shift in the treatment procedures has been seen ranging from traditional thermometers to thermometer gadgets, this industry has taken ahead by the abilities of thermometers.

The global infrared thermometers market was valued at approximately USD 769 million in 2016. The market is expected to grow at a CAGR of nearly 8.5% and is further estimated to be valued at around USD XXX.xx million by the end of forecast period.

Infrared Thermometers Market Research comprises of-

  • Historic Data: 2015 - 2019

  • Base Year: 2019

  • Future Forecast: 2020 – 2025

Prominent Market Players- Contec, Braun, Omron, Vivehealth, Microlife, Hartmann, and so on. In the veterinary division, the major players are Mediaid, Bioseb, Greatfarm, iSnow Med, among others.

The global infrared thermometer industry is highly lucrative, due to the presence of a several small number of key players. These leading service providers are constantly adopting tech advancements to meet the current market demand to ensure safer test results. Rise in prevalence of infectious diseases and neo-natal care awareness is driving the market demand. Awareness among people for faster test results is a major reason expected to increase preference for infrared thermometers.

Market Dynamics-

  • Rising Factors:

            + Growing adoption of expert healthcare services
            + Rising investments in the healthcare sector
            + Rising demand for quick and safer test results

  • Threats:

            + Increasing frauds and data misuse

  • Opportunities:

            + Affordability and simplicity
            + Rising cases of chronic diseases.

Introduction of Safety Measures in the Healthcare Industry Can Increase the Demand of Infrared Thermometers Market 

The affordability of infrared thermometers is expected to surge the demand of infrared thermometers. As the usage and training is simpler, it doesn’t require as much to set them accurately, the popularity is going to grow at a higher speed. Additionally, the growing demand for speedy and more safer results is another driving force of the market. Moreover, rise in prevalence of infectious diseases and neo-natal care awareness is driving the market demand. Awareness among people for faster test results is a major reason expected to increase preference for infrared thermometers.

Market Segmentation

In terms of type, the Global Infrared Thermometer market is segregated into:

  • Handheld Infrared Thermometers

  • Fixed Infrared Thermometers

By end-user also classify into, the Global Infrared Thermometer market:

  • Power

  • Metallurgy

  • Petrochemical

  • Medical

Regional Analysis-

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East and Africa

North America Registered the Largest Market Share While APAC Is Expected to Grow At A Fast Pace

North America leads the market with the highest market share in the global infrared thermometer market. The market is projected to grow at a rapid pace due to the increasing healthcare infrastructure investments in the US.

The Asia Pacific is likely to expand at a high CAGR, owing to presence of higher number of geriatric population in APAC countries such as. Moreover, the governments in this region are taking initiatives to ensure safety equipment, for instance, most of the countries such as India, China and Japan are adopting advance technologies in the healthcare sector.

Conclusion

Infrared thermometer market is expanding at a larger scale in the regions demanding expert healthcare services. The market has higher opportunities in Japan due to the presence of larger number of aging population. US, on the other hand, is another important region for this market, as it leads the global industry. Americas home care solutions comprise of nearly 10% of the national health expenditure and is expected to increase over the forecast period.

The market is highly lucrative due to presence of several key players. The market has ample growth opportunities for the entry of new entrants. Technological advancement will enhance the market capabilities by adopting safety, henceforth, this is likely to increase the global industry share in the future.