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Medical Thermometer Market Some of the companies which are currently actively present in the market are A&D Company, Limited, American Diagnostic Corporation, Actherm Medical Corp, Exergen Corporation, Citizen Systems Japan Co. Ltd
The medical thermometer market is projected to register a CAGR of 7.5% over the forecast period. The major factor attributing to the growth of the market is the growing number of medical situations that require accurate measurement of body temperature for deciding the treatment options. Many infectious diseases have high fever as a major distinctive symptom, and hence, measuring the body temperature is be the primary diagnosis of many infections. For instance, the novel pandemic Coronavirus disease is spreading at a very fast rate and one of the ways to screen the people is to measure the body temperatures in public places, therefore the governments of different countries have procured many facial thermometers.
In addition, the World health organization stated that the global incidence of dengue increased dramatically in the past decade. About half of the world's population is now at risk. There are an estimated 100-400 million infections each year. The increasing prevalence of infectious diseases is expected to boost the demand for thermometers. This factor, in turn, is expected to boost the growth of the market.
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Key Market Trends
Mercury Free Segment is Gaining Attention in the Medical Thermometer Market
The increasing growth of the segment is due to the rising awareness of the advantages of digital thermometers. The mercury-free thermometers are easier to handle, more safe and accurate. Apart from the advantages of the mercury-free thermometers, the major factors boosting the market's growth are the increasing prevalence of infectious diseases where measuring body temperature is the main diagnosis and accurate measurement of the temperature is required. According to the World Health Organization, in 2018, there were about 228 million cases of malaria worldwide. The major symptoms of malaria are fever, headache, and chills. With the increasing prevalence of such diseases, the market is expected to witness significant growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market during the forecast period. The market's growth is supported by factors, such as the presence of key players, a high prevalence rate of infectious diseases in the region, increasing R&D activities, technological advances, rising concern of individuals regarding self-health care management. In this region, the United States has the maximum share due to supportive healthcare policies, a high number of patients, and a developed healthcare market. According to the Centers for Disease Control and Prevention, about 15.5 million people visit physician offices with infectious and parasitic diseases as the primary diagnosis, in the United States. These statistics indicate that the increasing patient pool and increasing disposable revenue in this country are boosting the growth of the market in the region.
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Competitive Landscape
The medical thermometer market is moderately competitive and consists of international as well as local companies. Key market players are concentrating on new product launches, collaborations/mergers, and acquisitions in order to enhance their product portfolio as well as expand their global presence. Some of the companies which are currently actively present in the market are A&D Company, Limited, American Diagnostic Corporation, Actherm Medical Corp, Exergen Corporation, Citizen Systems Japan Co. Ltd, Microlife Corporation, Omron Healthcare Inc., Cardinal Health, Innovo Medical, and Welch Allyn Inc.
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Number of Medical Conditions Requiring Accurate Measurement of Body Temperature
4.2.2 Rapid technological advancements
4.3 Market Restraints
4.3.1 Stringent Governing Policies by Regulatory Healthcare Authority
4.3.2 Accuracy issues with infrared thermometer
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Mercury-based
5.1.2 Mercury-free
5.1.2.1 Infrared
5.1.2.2 Digital
5.1.2.3 Other Product Types
5.2 By End User
5.2.1 Hospitals
5.2.2 Clinics
5.2.3 Other End Users
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 A&D Company Limited
6.1.2 American Diagnostic Corporation
6.1.3 Actherm Medical Corp.
6.1.4 Exergen Corporation
6.1.5 Citizen Systems Japan Co. Ltd
6.1.6 Microlife Corporation
6.1.7 Omron Healthcare Inc.
6.1.8 Cardinal Health
6.1.9 Innovo Medical
6.1.10 Welch Allyn Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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