Temperature Monitoring Devices In High Demand As The World Fights Coronavirus
24 Apr, 2020
Most recently, pandemic COVID 19 has more than 600,000 positive cases around the globe and increased body temperature is one of the main symptoms of this disease, causing the demand for temperature monitoring devices to increase by several folds. Temperature monitoring of individuals or suspected patients is the first mode of diagnosis for Covid-19, used across various types of entities including airports, offices, clinics, hospitals and homecare. Also, infected patients’ vital signs are required to be monitored both at hospitals and at home, as a primary examination to track the infection.
The temperature monitoring devices market consists of sales of temperature monitoring devices and related services which are used to measure the temperature of a person or patients’ body. The market consists of revenue generated by companies manufacturing temperature monitoring devices by the sales of these products.
The increase in the prevalence of chronic and infectious diseases is causing a positive impact on the temperature monitoring devices market. Certain infectious diseases such as dengue, zika, malaria, and Ebola require continuous monitoring of temperature to give appropriate treatment and save lives. Temperature of patients with chronic diseases such as cardiovascular cases, kidney related diseases and other diseases have to be monitored continuously especially when they are hospitalized. This monitoring gives an overview of their body functioning. Therefore, the prevalence of chronic and infectious disease is expected to propel the market growth for temperature monitoring devices.
The global temperature monitoring devices market is expected to grow from $2.67 billion in 2019 to about $26.7 billion in 2020 due to a massive increase in demand for such devices for constant temperature monitoring of Covid-19 patients. The market is expected to stabilize and reach $3.7 billion at a compound annual growth rate (CAGR) of 8.2% through 2023.
The temperature monitoring devices market is segmented by type into contact-based temperature monitoring systems, and non-contact-based temperature monitoring system. By application, the market is segmented into oral cavity, rectum, ear, and others. Companies in the temperature monitoring devices market are focusing on the manufacturing of wearable temperature monitoring devices. Wearable thermometer is a digital thermometer which measures the temperature using medium such as touch, patch. It is connected to smart devices like phones, tablets etc. and allows continuous monitoring of temperatures. Products like Fit Bit, Apple Watch, temperature strips, and temperature patches are widely used for monitoring temperature. On June 2019, IWEECARE, a Taiwan-based digital health start-up, received regulatory approval for selling Temppal, a convenient patch of wearable Bluetooth enabled temperature monitoring devices.