New York, April 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Patient Temperature Monitoring Global Market Report 2023" - https://www.reportlinker.com/p06450848/?utm_source=GNW
, Masimo Corporation, Braun GmbH, Terumo Corporation, Paul Hartmann AG, Beurer GmbH, Easytem Co. Ltd., Omega Engineering Instrumentation Company, iHealth Lab Inc., DeltaTrak Inc., Exergen Corporation, Medisana GmbH, Geratherm Medical Ag, Nureca Healthcare Private Limited, A&D Medical Blood Pressure Monitor, Actherm Inc., Cosinuss GmbH, Vandelay (SFT Technologies India Pvt Ltd), and Kinsa Inc.
The global patient temperature monitoring market is expected to grow from $4.26 billion in 2022 to $4.62 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The patient temperature monitoring market is expected to grow to $6.28 billion in 2027 at CAGR of 8.0%.
The patient temperature monitoring market consists of revenues earned by entities providing data storage, thermal management, tracker, health management.The market value includes the value of related goods sold by the service provider or included within the service offering.
The patient temperature monitoring market also includes sales of sensors, thermocouples, thermistors which are used in providing patient temperature monitoring services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A patient temperature monitoring refers to a type of portable measurement equipment device and services which autonomously records the temperature for a particular period of time.These monitors help in measuring a patient’s temperature during postoperative care, surgery, critical care, shock, sepsis and infections, treatment of hypothermia and hyperthermia, fertility and ovulation assessment, or in other cases where there is a need to continuously monitor the body temperature.
The patient temperature monitoring are used to measure and record temperature for a particular period of time.
North America was the largest region in the patient temperature monitoring market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the patient temperature monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of patient temperature monitoring are contact-based temperature monitoring systems and non-contact-based temperature monitoring systems.Contact-based temperature monitoring systems are used to measure and record temperature over a specific time period.
Contact temperature sensors are temperature sensors that are required to be in physical contact with the object being sensed and use conduction to monitor changes in temperature.They can be used to detect solids, liquids, or gases over a wide range of temperatures.
The different site’s include non-invasive temperature monitoring and invasive temperature monitoring. It is used in pyrexia/fever, hypothermia, blood transfusion, anaesthesia, and other applications that are used by hospital and surgical centres, nursing facilities, ambulatory care centres, home care, and other end users.
The rising incidence of diseases is expected to propel the growth of the patient temperature monitoring market going forward.Diseases are disorders caused by organisms such as bacteria, viruses, fungi, or parasites.
Some infectious diseases can be passed from person to person and some are transmitted by insects or other animals.The temperature change is a crucial factor in determining the sickness.
It is anticipated that the connection between temperature variation and illness occurrence would increase the adoption of monitoring systems.For instance, according to The World Health Organization, Switzerland-based a specialized agency of the United Nations responsible for international public health, in 2022, Noncommunicable diseases (NCDs) are responsible for 41 million deaths worldwide each year, or 71% of all fatalities.
Also, every year,17.9 million people die from cardiovascular illnesses, making them a significant contributor to NCD fatalities. Cardiovascular illness was the leading cause of mortality, followed by cancer (9.3 million), respiratory conditions (4.1 million), and diabetes (1.5 million). Therefore, the rising prevalence of diseases will continue to drive the patient temperature monitoring market.
Technological advancements are a key trend gaining popularity in the patient temperature monitoring market.Major companies operating in the patient temperature monitoring market are focused on developing new technological solutions to strengthen their position in the market.
For instance, in May 2020, Masimo, a US-based medical technology company, launched the Radius T continuous thermometer, a more convenient way to monitor fever. Unlike spot-check, episodic thermometers, the wearable, wireless Radius T monitors body temperature continuously, seamlessly transmitting data and customizable temperature notifications to the user’s smartphone enabling caregivers, such as parents, to monitor patients’ temperatures even while they sleep.
In December 2021, Baxter International Inc., a US-based medical technology company, acquired Hill-Rom Holdings, Inc for a deal amount of $15 billion. This acquisition helps Baxter to enhance in products and services and accelerates the company’s vision for transforming healthcare and advancing patient care worldwide. Hill-Rom Holdings, Inc. is a US-based medical technology company that provides patient temperature monitoring systems.
The countries covered in the patient temperature monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The patient temperature monitoring market research report is one of a series of new reports that provides patient temperature monitoring market statistics, including patient temperature monitoring industry global market size, regional shares, competitors with a patient temperature monitoring market share, detailed patient temperature monitoring market segments, market trends and opportunities, and any further data you may need to thrive in the patient temperature monitoring industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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