Global Temperature Monitoring Devices Market to Exceed US$694.4 Million by 2015, According to a New Report by Global Industry Analysts, Inc.
San Jose, CA (Vocus) October 20, 2010
The economic recession across global markets during the years 2008 and 2009 derailed the momentum of the temperature monitoring devices market. However, with the recovery of global economic situation in 2010, the temperature monitoring devices market is poised to gain momentum and register healthy growth over the coming years. With awareness of developments in the health and medical care market among people growing, consumer expenditure on health care is portended to increase resulting in improved consumerism in the temperature monitoring devices area.
Thermometers for clinical application have come a long way since their introduction. The phase out of mercury thermometers in several developed markets, on concerns regarding use of mercury in thermometers, resulted in the emergence of a completely new line of novel thermometers. The new variants including digital, electronic, and infrared thermometers are taking the market to new heights and driving future growth. In addition, revenue growth is anticipated from the large-scale adoption of expensive infrared ear and forehead thermometers, as alternatives for the relatively inexpensive digital stick thermometers. The demand is also driven by advanced technology and strengthening medical self-care market.
The United States represents the largest regional market worldwide, as stated by the new market research report on Temperature Monitoring Devices. Digital thermometers represent the major product segment in the region, while the demand for infrared thermometers is growing at a faster rate. Advancements in the medical, clinical and scientific research sectors fuel demand for sophisticated thermometers in the US. The financial crunch weakened the demand for temperature monitoring devices during the crisis period of 2008 and 2009. Sales of temperature monitoring devices in the US are expected to witness moderate recovery through 2011 and gain momentum from 2012 onwards. In terms of growth, Asia-Pacific is portended to register fastest growth for temperature monitoring devices. The region is forecast to flaunt a CAGR of more than 9.0% over the analysis period. Factors including growing concern for personal health, and increased acceptance of digital medical equipment are encouraging the market in Asia-Pacific.
Digital Thermometers category constitutes the largest segment of temperature monitoring devices market. Digital thermometers draw most of the demand as an efficient substitute to the fading mercury-in-glass thermometers. However, fastest growth is expected from the Infrared Thermometers category.
Thermometers form a small but important part of the medical equipment market, mainly due to the increase in the health awareness particularly in the home healthcare sector. There is tremendous opportunity for clinical thermometers across the world. An intensely competitive market place has led thermometer manufacturers to seek superior products involving advanced technologies, as part of their efforts to gain a competitive edge. For instance, infrared thermometers market has witnessed new technologies in the form of non-contact and temporal thermometers, as alternatives to conventional tympanic thermometers. On the other hand, manufacturers in the digital thermometers market have incorporated thermometry technology within pacifiers to capitalize on the opportunities in the infant care market. Disposable thermometers have been developed to address the infection control requirements of clinical and alternative care environment. Thermometers, incorporating non-contact thermometry technology, are aimed at high-income consumer segment. Manufacturers are fiercely competing in the child healthcare segment by providing an extra emphasis on research and development. Several advanced thermometers with digital displays, faster readings, easy to use, and greater accuracy have flooded the market in recent past.
Major players profiled in the report include A&D Medical / LifeSource, Actherm, Inc., American Diagnostic Corporation, Covidien, Exergen Corporation, Geratherm Medical AG, Hicks Thermometers (India) Limited, Kaz Incorporated, Microlife Corporation, Omron Healthcare Inc., Opto Circuits (India) Limited, Radiant Innovation Inc., RG Medical Diagnostics, Terumo Corporation, and Welch Allyn, Inc.
The report titled Temperature Monitoring Devices: A Global Strategic Business Report announced by Global Industry Analysts Inc., provides a comprehensive review of the temperature monitoring devices markets, impact of recession on the markets, current market trends, competitive scenario, key growth drivers, product overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Temperature Monitoring Devices market for the following geographic markets US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key product segments analyzed include Digital Thermometers, Infrared Thermometers, Electronic Temperature Monitors, and Temperature Strips. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Temperature_Monitoring_Devices_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the worlds largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site http://www.StrategyR.com/
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