Infrared Thermometer Market Estimated To Witness High Growth Owing To Growing Demand For Remote Temperature Screening During Pandemic

 
Infrared Thermometer Market

The Infrared Thermometer market is estimated to be valued at US$ 14 Bn or in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:
Infrared thermometers are non-contact devices that help measure the body temperature from a distance. They estimate the surface temperature of an object or living being by detecting infrared heat emitted from the target. Infrared thermometers are easy to use and give quick temperature readings without direct contact. They are increasingly being used in hospitals, clinics and homes for remote temperature screening during the ongoing COVID-19 pandemic.

Market Dynamics:
Growing demand for remote patient monitoring and non-contact temperature screening during the COVID-19 pandemic has driven the infrared thermometer market growth over the past year. Infrared thermometers help measure fever quickly without the need for physical contact thus preventing cross-contamination. Some other factors fueling the market include increasing awareness regarding health and wellness, rising prevalence of fever-causing diseases, and advancement in infrared technology for improved accuracy and efficiency. However, factors such as availability of alternative thermometer types and uncertainty regarding the duration of the pandemic may restrain the market to a certain extent.

SWOT Analysis

Strength: Infrared thermometers have high accuracy and allow contactless temperature measurement. They provide instant temperature readings and are easy to use. Infrared thermometers also help minimize infection risks associated with physical contact-based thermometers.

Weakness: Infrared thermometers have high initial costs and require calibration and maintenance. The accuracy of infrared thermometers can be affected by environmental factors such as humidity.

Opportunity: Growing awareness about health and wellness is driving the demand for temperature monitoring devices. The COVID-19 pandemic has increased the use of infrared thermometers for symptom screening and detection.

Threats: Advancements in contact-based thermometers and emergence of novel temperature monitoring technologies pose threats to infrared thermometers. Stringent regulatory approvals and certification processes increase business costs.

Key Takeaways:

The Global Infrared Thermometer Market Share is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period, due to increasing prevalence of fever screening practices across various industries. Factors such as rise in number of hospitals & clinics and growing awareness about thermal imaging are expected to propel the market growth.

Regional analysis The Asia Pacific region is expected to dominate the global infrared thermometer market during the forecast period. This is attributed to factors such as growing medical tourism, increasing population, escalating healthcare expenditure, rising incidence of fever in countries such as India and China. North America is anticipated to exhibit the second-largest market share owing to rise in number of COVID-19 cases and advanced healthcare infrastructure in countries like United States and Canada.

Key players operating in the infrared thermometer market are Thermo Fisher Scientific Inc., Exergen Corporation, Ra Lifecare Pvt Ltd, OMRON Corporation, OMEGA Engineering inc., Morepen laboratories Limited, CP PLUS International, MGL Euman, Fluke Corporation, SG Corporate Mobility Pvt Ltd., BPL Medical Technologies, Lifeline Medical Inc., Contec Medical Systems, Paul Hartmann AG, Welch Allyn, Microlife Corporation, Geratherm Medical AG. Key players focuses on new product launches, strategic collaborations, and geographic expansions to gain competitive advantage in the market.

Read More:

https://www.marketwebjournal.com/infrared-thermometer-market-trends-size-and-share-analysis/

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