The medical
thermometers market is likely to experience steady growth because of
the frequent outbreak of epidemics and the growing availability of advanced
medical thermometers. Rising at a CAGR of over 8%, the market is estimated to
have an incremental growth of USD 104.82 million by 2024.
A Technavio analyst says,
"The global medical thermometers market will witness an upsurge due to the
spread of COVID-19 pandemic. The extension of containment efforts is leading to
increased demand and reduced production. Hence, the prices are expected to remain
elevated for the short term, thereby resulting in an improved topline growth of
market vendors."
Technavio’s recent analysis of
the medical thermometers market, includes a detailed examination of its revenue
forecasts, including market drivers and challenges, key market participants,
and growth opportunities. The study segments the markets in North America,
APAC, Europe, South America, and MEA, geographically. The APAC region is
expected to have a market share of 39% and will offer significant growth
opportunities for market players during the forecast period.
The high price of digital and
infrared thermometers and the threat from counterfeit products might hamper
market growth. However, the rise in the geriatric population and the prevalence
of various lifestyles and chronic diseases such as pneumonia and influenza will
positively influence the growth of the global medical thermometers market.
Technavio’s analysis of the
medical thermometers market also includes:
·
CAGR of the market during the forecast period 2020-2024
·
Detailed information on factors that will drive the medical thermometers
market growth during the next five years
·
Precise estimation of the medical thermometers market size and its
contribution to the parent market
·
Accurate predictions on upcoming trends and changes in consumer behavior
·
The growth of the medical thermometers market industry across North America,
APAC, Europe, South America, and MEA
·
A thorough analysis of the market’s competitive landscape
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