Driven by the launch of innovative thermometers and the expanding medical self-care market, the temperature monitoring devices market has been forecast to hit a value of $878.6 million by the end of 2018.
The economic recession across the globe in 2008 and 20089 greatly derailed the momentum of the temperature monitoring devices market.
However, since the recovery of the situation in 2010, the temperature monitoring devices market is poised to gain momentum and register healthy growth over the coming years.
Thermometers for clinical application have come a long way since their introduction in the 19th century. However, as concerns over the use of mercury in thermometers became rife over the past decade, mercury thermometers have been phased out in various developed markets across the globe.
This, in turn, led to the introduction of a new range of thermometers such as digital thermometers and infrared thermometers, as well as thermometers containing gallium/ indium/tin alloy.
Other technological advancements that have sent ripples across the market are infrared aural units, under arm digital thermometers, and battery-operated flexible-tip oral products.
According to a recent market report, 'Temperature Monitoring Devices: A Global Strategic Business Report,' The United States represents the single largest market worldwide. However, with a projected compound annual growth rate (CAGR) of 7% through 2018, Asia-Pacific is forecast to emerge as the fastest growing market.
Recent years have witnessed an increasing number of hospitals in countries such as China and India replacing the age-old mercury thermometers with digital thermometers.
Thermometers are usually rated based on accuracy and ease of use features. Companies are increasingly focusing on the development of user-friendly products with ergonomic designs that make the temperature taking process easy and quick.
Digital Thermometers represents the largest product market. Having evolved as a result of technological advancements in clinical thermometry, digital thermometers are increasingly finding preference among consumers.
This is due to the fact that digital thermometers are considered faster, economical, and capable of recording temperature with greater precision compared to glass/mercury thermometers.
For more information on the temperature monitoring devices market, see the latest research: Temperature Monitoring Devices Market
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