The global thermometer market was valued at around US$ 1.5 Billion at the end of 2021. The market is projected to register a 9.1% CAGR and top a valuation of US$ 3.6 Billion by 2032.
The presence of a developed healthcare infrastructure and a high prevalence of diseases that require measuring body temperature is expected to bolster the growth of the thermometer market.
Temperature is measured using an instrument called a thermometer. Two essential parts make up a thermometer: a temperature sensor that adapts to temperature changes and a mechanism that converts those changes into a numerical number. The usage of thermometers is widespread in a range of fields, including meteorology, medicine, and science.
A variety of physical phenomena are used by thermometers to measure temperature. A wide range of industrial applications, particularly measuring systems, use thermometers. In cold climates, thermometers are used on roads to determine and; assess when ice conditions occur. Thermistors are used to regulate the temperature inside appliances including water heaters, air conditioners, freezers, and heaters.
Attributes
Details
Thermometer Market Value in 2021
US$ 1.5 Billion
Thermometer Market Value in 2032
US$ 3.6 Billion
Thermometer Market CAGR (2022 to 2032)
9.1%
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What are the Major Drivers Boosting the Demand for Thermometer Market?
The most significant factors that are predicted to propel the market are the rise in the frequency of contagious diseases, additional medical conditions including dengue and malaria, and raising awareness of the importance of taking one's personal body temperature. The market for thermometers is also expanding as a result of the increasing use of these instruments for imaging, industrial, research, and medical purposes.
Additionally, cooperation is growing between various end users like the chemical, pharmaceutical, and food industries. In these sectors, maintaining accurate temperatures during various product improvement cycles is a crucial requirement. During the forecast period, these factors are expected to accelerate the market's growth.
The coronavirus outbreak has benefited the health industry by raising the need for thermometers. Throughout the projected period, this is probably what will propel the market. The need for infrared thermometers has increased due to the requirement for thermal screening in common areas, workplaces, and hospitals.
Which Region Shows Strong Growth Potential in the Thermometer Market?
The thermometer market is broadly divided into seven major regions, North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
North America is the leading region in the global thermometer market. The growing geriatric population and higher healthcare expenditure are some of the key factors contributing to its largest market share.
The European thermometer market is likewise anticipated to experience profitable growth. Over the course of the forecast period, the market is anticipated to be driven by growing demands for homecare products and health facilities that serve the elderly.
The East Asian region is predicted to show lucrative growth owing to the presence of high unmet medical needs, and the increasing prevalence of target diseases including malaria, dengue, and swine flu.
