Global Vital Parameter Monitoring Devices And Equipment Market

Pulse Oximeters And Spirometers Market Definition

The pulse oximeters and spirometers market consists of sales of pulse oximeters and spirometers that are used as respiratory care devices, and to check on general health, in the healthcare industry. The market includes the sales of handheld, tabletop or fingertip pulse oximeters that are used to monitor the oxygen saturation levels of the blood and pulse rate, as well as handheld, desktop or tabletop spirometers that are used to measure the air capacity of lungs. Pulse oximeters and spirometers companies are primarily engaged in the manufacturing and developing of these devices used to monitor the respiration-related parameters that aid in the detection of respiratory disorders.

The temperature management market consists of sales of products or devices used to control and maintain specific body temperature through external warming or cooling for a specific duration. The temperature management devices are used in operation theatres during surgeries, ICU, blood warming, and in other chronic conditions such as cardiac ailments, neurological disorders, and cancer. The temperature management market covered in this report is segmented by product into patient warming devices and patient cooling devices. The patient warming devices are used to maintain specific body temperature through external warming. It is also segmented by application into surgery, cardiology, pediatrics, neurology, orthopedic surgery, others and by end-use into the operating room, neonatal ICU, emergency room, ICUs, and others. The global temperature management market size is expected to grow from $2.65 billion in 2021 to $2.75 billion in 2022 at a compound annual growth rate (CAGR) of 3.6%. The global temperature management market is expected to grow to $3.02 billion in 2026 at a CAGR of 2.4%. A rise in the prevalence of chronic diseases is expected to drive the temperature management market. For instance, in 2019, 1,762,450 new cancer cases and 606,880 cancer deaths are predicted to occur in the US. A decrease in temperature increases the inflammation or multiplying of cancer cells in patients. It also acts as a predictor of death for critically ill cancer patients. Hyperthermia, a type of treatment that uses a high temperature, is therefore used for treating cancer patients. Therefore, maintaining temperature for patients with chronic diseases helps in decreasing the infection and saving lives which in turn drives the temperature management market. The risk associated with the use of invasive temperature management devices is expected to hinder the temperature management devices. For instance, during the targeted temperature management post-cardiac arrest, the use of invasive temperature management devices is associated with certain risks like an injury at the area of placement, infection, and venous thrombosis. Similarly, surface cooling systems that use blankets or pads wrapped around the patient that circulates cold air or fluid include the rare risk of skin burns and irritation, as well as the risk of overshooting the target temperature in the induction phase. Such risk factors, therefore, are expected to impact the growth of the temperature management market. Wearables are evolving at a rapid pace and are expected to be the new trend in the temperature management system market. Heat due to power consumption causes both circuit malfunctions and low-temperature burns to users. Therefore, researchers are proposing thermal management methods using wearable devices with higher performance. A wearable device is a patch that controls the temperature of the patient’s body as per the wearer’s preference. For instance, the company Embr Labs has released a watch or bracelet called Embr Wave that makes the person feel warmer or cooler based on his preference, thereby acting as a personal thermostat. Major players in the temperature management market are 3M Company, Becton, Dickinson and Company, Draegerwerk AG & Co. KGaA, Smiths Medical, Stryker Corporation, The 37company (The Surgical Company), Zoll Medical Corporation (A Subsidiary of Asahi Kasei Corporation), C. R. Bard, Mennen Medical, and Medtronic (Covidien). The regions covered in the global temperature management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the temperature management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global temperature management market is segmented - 1) By Product: Patient Warming Devices, Patient Cooling Devices 2) By Application: Surgery, Cardiology, Pediatrics, Neurology, Orthopedic Surgery, Others 3) By End-Use: Operating Room, Neonatal ICU, Emergency Room, ICUs, Others

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 patient's body. The market consists of revenue generated by the companies that are manufacturing temperature monitoring devices. The main types of temperature monitoring devices are contact-based temperature monitoring systems, non-contact-based temperature monitoring systems. The non-contact-based temperature monitoring systems are used to measure the temperature of a person or patient's body without being in contact with the object. The various applications involved are the oral cavity, rectum, ear, and others. The end-user involved are hospital and surgical centers, nursing facilities, ambulatory care centers, home care, and others. The global temperature monitoring devices market size is expected to grow from $2.98 billion in 2021 to $3.4 billion in 2022 at a compound annual growth rate (CAGR) of 14.2%. The global temperature monitoring market size is expected to grow to $5.47 billion in 2026 at a CAGR of 12.6%. The temperature monitoring devices market is experiencing massive growth due to the COVID-19 pandemic. 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 increase in the prevalence of chronic and infectious diseases is causing a positive impact on the temperature monitoring devices market. Certain infectious diseases like Dengue, Zika, Malaria, Ebola require continuous monitoring of temperature to give appropriate treatment and save lives. Also, the temperature of patients with other chronic diseases such as cardiovascular diseases and kidney-related diseases has to be monitored continuously especially when they are hospitalized as temperature monitoring gives an overview of their body functioning. Most recently, the COVID-19 pandemic has more than 19,365,157 active 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. Therefore, the prevalence of chronic and infectious diseases is expected to propel the market growth of temperature monitoring devices during the forecast period. The high cost of advanced temperature monitoring devices may hinder the growth of the temperature monitoring devices market. The average cost of thermometers ranges from US$1 to US$114. The high cost of these devices is due to the high costs of sensors used in them. This is a high amount for low-economic countries such as Africa., South America, and several Asian countries. Thus, the high cost of temperature monitoring devices is hindering the growth of the temperature monitoring devices market. The companies in the temperature monitoring devices market are focusing on the manufacturing of wearable temperature monitoring devices. The wearable thermometer is a digital thermometer that measures the temperature by using a medium like a touch, patch. It is connected to smart devices like phones, tablets, laptops and allows continuous monitoring of temperatures. Products like the fit bit, apple watch, temperature strips, temperature patches are wearable temperature monitoring devices that are widely used for monitoring temperature. In 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. Major players in the temperature monitoring devices market are 3M Company, Drägerwerk AG & Co. KGaA, Cosinuss GmbH, Helen of Troy Limited, Koninklijke Philips N.V, Microlife Corporation, Omron Healthcare, Terumo Corporation, Welch Allyn, Inc, and C. R. Bard. The regions covered in the global temperature monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the global temperature monitoring device market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global temperature monitoring devices market is segmented - 1) By Type: Contact-Based Temperature Monitoring Systems, Non-Contact-Based Temperature Monitoring Systems 2) By Application: Oral Cavity, Rectum, Ear, Others 3) By End-User: Hospital and Surgical Centers, Nursing Facilities, Ambulatory Care Centers, Home Care, Others

The patient monitoring devices market consists of sales of patient monitoring devices and related services by entities (organizations, sole traders, and partnerships) that produce patient monitoring devices used in monitoring vital health parameters. The main types of patient monitoring devices market are fetal and neonatal monitoring devices, weight monitoring and body temperature monitoring devices and equipment, vital parameter monitoring devices and equipment, and remote patient monitoring devices and equipment. Fetal and neonatal monitoring devices measure the heart rate and rhythm of the baby (fetus). This lets the healthcare providers see how the baby is doing. The type of expenditure is public and private. The products used are instruments/equipment and disposables. The end-users are hospitals and clinics, diagnostic laboratories, and others. The global patient monitoring devices market size is expected to grow from $21.1 billion in 2021 to $23.55 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The global patient monitoring market size is expected to grow to $35 billion in 2026 at a CAGR of 10.4%. The demand for monitoring devices is likely to increase due to the shortage of professionals in the healthcare services industry. According to a report by Mercer, the US requires 2.3 million new health care workers by 2025, this includes nurses, physicians, lab technicians, and various other healthcare personnel. This shortage is likely to drive the demand for monitoring systems as these devices allow medical professionals to track multiple patients remotely. This is expected to drive the market for patient monitoring devices in the forecast period. Awareness of diseases is low in many countries across the globe and this affected the demand for patient monitoring devices in the historic period. For instance, a study conducted by the Indian Council of Medical Research (ICMR) on 213 million people found that only 43.2% are aware of the chronic disease diabetes. This lack of disease awareness limited the diagnosis and treatment pool, thereby restricting market growth for patient monitoring devices. Patient monitoring device manufacturers are offering customized MPMs to cater to the growing patient pool. MPMs monitor different health parameters corresponding to patients’ health conditions. For instance, Infinium Medical’s Omni series monitors are preconfigured with ECG, oxygen saturation, non-invasive blood pressure, and temperature trackers. More advanced health measures such as invasive blood pressure, cardiac output, and anesthetic agent measurement can be added to this device when needed. Custom MPM is predominantly beneficial for tracking the health status of critically ill patients. Major companies in the patient monitoring devices market include General Electric Company, Koninklijke Philips N.V., Draegerwerk AG, Cardinal Health, Inc., Masimo, Stryker Corporation, Medtronic Inc., Edwards Lifesciences, Flex Ltd, and Nihon Kohden Corporation. Asia Pacific was the largest region in the global patient monitoring devices market in 2021. North America was the second-largest region in the global patient monitoring device market. The regions covered in the global patient monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the patient monitoring devices market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global patient monitoring devices market is segmented - 1) By Type: Fetal and Neonatal Monitoring Devices, Weight Monitoring and Body Temperature Monitoring Devices and Equipment, Vital Parameter Monitoring Devices and Equipment, Remote Patient Monitoring Devices and Equipment 2) By End-User: Hospitals and Clinics, Diagnostic Laboratories, Others 3) By Type of Expenditure: Public, Private 4) By Product: Instruments/Equipment, Disposables Subsegments Covered: Fetal Monitoring Devices, Neonatal Monitoring Devices, Temperature Monitoring Devices, Weight Monitoring Devices, Cardiac Monitoring Devices, Neuromonitoring Devices, Respiratory Monitoring Devices, Hemodynamic Monitoring Devices, Multiparameter Monitoring Devices, Cardiac Monitors, Respiratory Monitors, Hematological Monitors, Vital Parameter Monitors, Others

The remote patient monitoring devices and equipment market consist of sales of remote patient monitoring devices and equipment and related services. Remote patient monitoring devices and equipment allow a patient to use a mobile medical device for undergoing a routine test and send the test data to a healthcare expert in real-time. The main type of device of remote patient monitoring devices and equipment are heart monitors, breath monitors, hematology monitors, multi-parameter monitors. A heart monitor is a device that controls to record the electrical activity of the heart. This device is the size of a pager. The various applications involved are cancer treatment, cardiovascular diseases, diabetes treatment, sleep disorder, weight monitoring and fitness monitoring, and other applications. The various end-users involved are home care settings, clinics, and hospitals. The global remote patient monitoring devices and equipment market size is expected to grow from $1.02 billion in 2021 to $1.19 billion in 2022 at a compound annual growth rate (CAGR) of 16.1%. The global remote patient monitoring devices market size is expected to grow to $2.09 billion in 2026 at a CAGR of 15.2%. The upcoming shortage of skilled healthcare professionals (doctors and nurses), drives the remote patient monitoring (RPM) devices and equipment market. As the number of patients with chronic diseases is increasing, it is getting difficult to monitor the patients due to operational time and cost-related issues. The rising number of patients with chronic diseases, increasing the need for monitoring, and projected shortfall in the number of nurses shortly increase the growth of remote patient monitoring devices and equipment. According to a report by Mercer, the US requires 2.3 million new health care workers by 2025, this includes nurses, physicians, lab technicians, and various other healthcare personnel. According to the Bureau of Labor Statistics, there is an additional need for 203,700 new registered nurses every year by 2026. However, only 438,100 nurses are expected to be added to 2026, which is way less than the demand. World Health Organization (WHO) projected that by 2030, low- and middle-income countries will have a deficit of 14.5 million healthcare professionals. The remote patient monitoring devices market is limited, as healthcare professionals are averse to adopting new technologies. Technologically advanced remote patient monitoring devices and equipment are adopted to reduce patients’ expenditure on hospitalization in terms of follow-up care. The rise of such adoption results in a reduction of hospital revenues. Therefore, hospitals and healthcare professionals resisted the adoption of remote patient monitoring systems and are limiting the market. For instance, a case study in the UK states, organizational barriers at various levels, technical, social, ethical, financial, and legal factors are restraining to investment, implementation action, and use of advanced patient monitoring systems. Remote patient monitoring device manufacturers are increasingly integrating IoT and wireless technology with remote patient monitoring devices to efficiently diagnose and treat medical conditions. Wireless sensor technology such as biosensor monitoring devices is multi-sensor systems implanted or embedded into the skin, consisting of a sensor that transmits data for real-time monitoring of a patient’s medical condition. IoT technology enables healthcare service providers to remotely monitor patients’ health parameters. These devices are miniaturized multi-sensing devices, aiding healthcare professionals to monitor blood pressure, blood glucose levels, and physiological parameters, and recommend the appropriate treatment. Major companies offering IoT and wireless sensor technology integrated patient monitoring devices include Xsensio, InSilixa, 1Drop Diagnostics, Kenzen. The remote patient monitoring device and equipment manufacturers must comply with the rules and regulations of the Health Insurance Portability and Accountability Act (HIPAA). These HIPAA regulations secure definitions of the network, take physical security, and process security measures regarding the Protected Health Information (PHI). Title II of HIPPA directs the Health and Human Services (HHS) of the U.S Department to manifest national standards for the exchange of electronic healthcare data and information. Health and Human Services (HHS). Office for Civil Rights (OCR) issued guidance by clarifying that cloud service providers and other business associates of healthcare organizations are covered by the HIPAA privacy, security, and breach notification rules for safe and secure electronic data interchange. In 2019, United Health Group’s Optum division has acquired Vivify Health for an undisclosed amount. This acquisition is expected to provide an opportunity for Optum to reduce hospital readmission rates and better manage care for patients with chronic diseases. Vivify Health is a patient-monitoring start-up. The company was founded in the year 2009. Major players in the remote patient monitoring devices and equipment market are Philips Healthcare, Honeywell, GE Healthcare, Medtronic, Boston Scientific, Johnson & Johnson, Biotronik, Robert Bosch, Covidien Plc, and St. Jude Medical. Asia Pacific was the largest region in the remote patient monitoring devices and equipment market in 2021. North America was the second-largest region in the global remote patient monitoring equipment market. The regions covered in the global remote patient monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the remote patient monitoring devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global remote patient monitoring devices and equipment market is segmented - 1) By Type of Device: Heart Monitors, Breath Monitors, Haematology Monitors, Multi-Parameter Monitors 2) By End-User: Home Care Settings, Clinics, Hospitals 3) By Application: Cancer Treatment, Cardiovascular Diseases, Diabetes Treatment, Sleep Disorder, Weight Monitoring and Fitness Monitoring, Others

The patient handling equipment market consists of sales of patient handling equipment and related services by entities (organizations, sole traders, and partnerships) that manufacture patient handling equipment. They are used for specific lifting, transfer, and movement of patients. Patient handling equipment is an assistive device that helps home care and hospital settings for transferring patients between chairs, beds, and other places. The patient handling equipment market covered in this report is segmented by product type into wheelchairs, mobility scooters, medical beds, patient transfer equipment, and others. The patient transfer equipment is used for transferring patients between chairs, beds, and other places. It is also segmented by care type into critical care, fall prevention, bariatric care, and by end-user into homecare, hospitals, and others. The global patient handling equipment market size is expected to grow from $19.31 billion in 2021 to $20.35 billion in 2022 at a compound annual growth rate (CAGR) of 5.4%. The global patient handling equipment market is expected to grow to $23.19 billion in 2026 at a CAGR of 3.3%. The increasing geriatric population profile of most countries contribute to the growth of the patient handling equipment market. The older population accounts for a higher percentage of hospital admissions owing to the high risk of acquiring chronic and other diseases, thereby generating a higher need for patient handling equipment. According to United Nations, Department of Economic and Social Affairs, 1 in 11 people in the world were over the age of 65 in 2019 and this number is expected to increase to 1 in 6 people by the end of 2050. Moreover, the number of people globally over the age of 65 is expected to increase from 703 million in 2019 (constituting 9% of the world population) to 1.5 billion by the end of 2050. Therefore, an increase in the size of the geriatric population is anticipated to boost the demand for the patient handling equipment market during the forecast period. Inconvenience caused by wheelchairs and other patient handling equipment is likely to act as a major restraint for patient handling equipment’s market growth. Physical barriers associated with wheelchairs include inaccessible surroundings, lack of pavements, and climate and physical terrain. For instance, according to the American Nurses Association (ANA), the physical environment can lead to restrictions on the movement and positioning of the patients. This scenario is projected to impact the growth of the patient handling equipment market. In July 2019, Etac AB, a global company engaged in developing and providing ergonomic assistive devices and patient handling equipment, acquired 70% of shares in HoverTech International, a USA-based company, for an undisclosed amount. This acquisition is expected to strengthen Etac AB’s global position in the moving and handling equipment industry. HoverTech International was established in 1997 and is a manufacturer of air-assisted patient handling technologies. Major players in the global patient handling equipment market are ArjoHuntleigh Inc., Hill-Rom Holdings Inc., Invacare Corporation, Stryker Corporation, Drive Divilbiss Healthcare Inc., ETAC AB, Gf Health Products Inc., Guldmann, Inc., Handicare Group AB, and Joerns Healthcare LLC. The regions covered in the global patient handling equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the global patient handling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global patient handling equipment market is segmented - 1) By Product Type: Wheelchairs, Mobility Scooters, Medical Beds, Patient Transfer Equipment, Others 2) By Care Type: Critical Care, Fall Prevention, Bariatric Care, Wound Care, Others 3) By End-User: Biopharmaceutical and Pharmaceutical Companies, Research Institutes, Homecare, Hospitals, Others

The weight monitoring and body temperature monitoring devices and equipment market consist of sales of weight monitoring and body temperature monitoring devices and related services. Weight monitoring and body temperature monitoring devices and equipment are the most widely used patient monitoring devices. The main types of weight monitoring and body temperature monitoring devices and equipment are weight monitoring devices and temperature monitoring devices. Weight monitoring devices are the devices used or employed in establishing the size, quantity, extent, area, or measurement of quantities, things, produce, or articles for distribution or consumption that are sold or exposed for sale or hire at any basic charge. The temperature monitoring devices are tabletop temperature monitoring devices, handheld temperature monitoring devices, wearable continuous monitoring thermometers, temperature monitoring sensors, and smart temperature patches. The various end-users hospitals and clinics, home settings, and ambulatory surgical centers. The global weight monitoring and body temperature monitoring devices and equipment market size is expected to grow from $6.97 billion in 2021 to $8.07 billion in 2022 at a compound annual growth rate (CAGR) of 15.8%. The global weight and body temperature monitoring market size is then expected to grow to $13.74 billion in 2026 at a CAGR of 14.2%. The rising prevalence of obesity is one of the major drivers of the weight monitoring devices and equipment market. According to the World Health Organization (WHO), 1.9 billion adults around the globe were diagnosed, as overweight, and also over 340 million children of 5 to 19 years across the globe were overweight. To curb the increase of obesity, weight monitoring devices can play a vital role by reminding the user to follow a certain diet or monitor the exercising habits of the individual. Thereby driving the demand for weight monitoring devices, thus driving the market growth. Product recalls act as a restraint on the weight monitoring and body temperature monitoring devices and equipment market. For instance, the US Food and Drug Administration (FDA) has recalled many digital thermometers due to wrong calibration and incorrect display of body temperature. Also, thermometers manufactured by 3M company were recalled by the FDA after a prolonged investigation due to incorrect display of body temperature. Similarly, in 2020, the FDA has recalled a specific model electric thermometer manufactured by Cardinal Health, a multinational health care services company. Such a high number of product recall hampers the market growth. The use of wearables is a trend that is prevalent in the weight monitoring and body temperature monitoring devices and equipment market. Many companies such as Apple, Google, and Samsung are investing in the research and development of wearables. The wearables have high-end sensors attached to them, which measures and monitors body temperature and weight. Various new products are launched in the wearable category. For example, Blue Spark's, Temp Traq is a wearable temperature monitor. Also, Fitbit wearable tracks and monitor weight. Stringent FDA regulations need to be followed in the weight monitoring and body temperature monitoring devices and equipment market. FDA has a set of good manufacturing practices designed for the monitoring of body temperature and weight monitoring devices. FDA monitors the safety and effectiveness of these devices. Part 880 of the FDA regulations pertain to the general hospital and personal use devices, subpart C relates to personal use monitoring devices. Weight monitoring devices are classified by the FDA as Class I devices. The manufacturers are tasked with the thorough inspection, measuring and testing efficiency, and ensuring it meets the intended purposes. Once this is finished the manufacturer must calibrate the device according to a set of rules or limits to improve the precision and accuracy of the readings. After all, this is completed the FDA will take their final call regarding the certification of the device. Major players in the weight monitoring and body temperature monitoring devices and equipment market are Philips Healthcare, Medtronic, GE Healthcare, Abbott Laboratories, 3M, Nihon Kohden, Omron Healthcare, Siemens Healthcare, Honeywell International Inc, and Infinium Medical. Asia Pacific was the largest region in the weight monitoring and body temperature monitoring devices market in 2021. North America was the second-largest region in the global weight monitoring and body temperature monitoring equipment market. The regions covered in the global weight and body temperature monitoring devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the weight monitoring and body temperature monitoring devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global weight monitoring and body temperature monitoring devices and equipment market is segmented - 1) By Type: Weight Monitoring Devices, Temperature Monitoring Devices 2) By End-User: Hospitals and Clinics, Home Settings, Ambulatory Surgical Centers 3) By Temperature Monitoring Devices: Table Top Temperature Monitoring Devices, Hand Held Temperature Monitoring Devices, Wearable Continuous Monitoring Thermometers, Temperature Monitoring Sensors and Smart Temperature Patches

The temperature sensor market consists of sales of temperature sensor devices by entities (organizations, sole traders, and partnerships) that are used to take accurate temperature measurement readings. A temperature sensor is an electronic device that records, monitors, or signals temperature changes by measuring the temperature of its surroundings and converting the input data into electronic data. The main types of temperature sensors are contact temperature sensors and non-contact temperature sensors. Contact temperature sensors are electronic devices that need to be kept in physical contact with the substance for being sensed and use conduction mechanisms to monitor temperature changes. They are used to detect a wide range of temperatures. The different outputs include digital, analog and involve various connectivity types such as wired, wireless. It is used in several sectors including the manufacturing industry, aerospace industry, energy sector, electronics industry, HVAC industry, and others. The global temperature sensor market size is expected to grow from $7.50 billion in 2021 to $8.05 billion in 2022 at a compound annual growth rate (CAGR) of 7.3%. The change in the temperature sensor market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The temperature sensor market is expected to reach $10.49 billion in 2026 at a CAGR of 6.9%. The growing healthcare sector is significantly contributing to the growth of the temperature sensor market. The increasing healthcare business necessitates the use of temperature sensors to provide dependable and precise monitoring of key temperatures. Temperature sensors are used in sleep apnea machines, digital thermometers, blood analyzers, anesthesia delivery machines, neonatal intensive care units to monitor patient temperature, ventilators, medical incubators, humidified oxygen heater temperature monitoring and control equipment, and kidney dialysis machines. For instance, according to India Brand Equity Foundation (IBEF) report, the healthcare sector is estimated to reach US$372 billion by 2022. Therefore, the growing healthcare sector is projected to propel the growth of the temperature sensor market in the coming years. The growing technological advancements are shaping the temperature sensor market. Key players operating in the temperature sensor market are focusing on developing advanced technological temperature sensor devices to strengthen their position in the market. For instance, in March 2020, Polysense Technologies Inc., a US-based company that offers IoT-based temperature sensors launched WxS x800-IRTMS and WxS x800-IRTM based on IoT edge computing technology. WxS x800-IRTMS is a standalone thermal meter that measures human body temperature infrared touch-free. The WxS x800-IRTM is a self-calibrated IoT big data thermal meter that supports a variety of wireless uplinks for cloud connectivity, including NB-IoT, Wi-Fi, LoRaWAN, and 4G LTE. In December 2020, CTS Corporation, a US-based manufacturer of sensors and electronic components including temperature sensors acquired Sensor Scientific Inc. for an undisclosed amount. This acquisition will help CTS Corporation to expand its temperature sensing product portfolio and build a strategy for innovative products. Sensor Scientific Inc. is a US-based company that designs, develops, and manufactures temperature sensor assemblies and thermistor sensors for various industries. Major players in the temperature sensor market are Siemens AG, NXP Semiconductors N.V., Infineon Technologies AG, Texas Instruments Incorporated, Denso Corporation, TE Connectivity, Omron Corporation, Sensor Scientific Inc., CTS Corporation, WIKA Instruments India Pvt. Ltd., Keyence Corporation, Dwyer Instruments Ltd., Standex Electronics Inc., Thermocouple Technology LLC, Kelvin Technologies Inc., and Thermo Sensors Corporation. Asia Pacific was the largest region in the temperature sensor market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the temperature sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the temperature sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global temperature sensor market is segmented - 1) By Product Type: Contact Temperature Sensors, Non-Contact Temperature Sensors 2) By Output: Digital, Analog 3) By Connectivity: Wired, Wireless 4) By End-User: Manufacturing Industry, Aerospace Industry, Energy Sector, Electronics Industry, HVAC Industry, Others