Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSIntroduction to Medical Forehead Thermometer
Medical forehead thermometer is referred to the type of thermometer that are used to monitor temperature of a human body. Forehead thermometers that are available in the market can be used either by placing the thermometer in contact with the skin directly and monitoring the temperature, or by placing the thermometer in a certain distance, usually about 10 centimeters), to monitor the body temperature. The non-contact thermometers are also known as infrared thermometer as it uses infrared technology to infer temperature. Medical forehead thermometers are also commonly known as temperature guns, as it looks similar to a plastic gun.
Market Size and Forecast
The global medical forehead thermometer market is thriving on the back of the increasing number of medical disorders around the globe which is raising the need for the precise measurement of the body temperature as a process for deciding the further treatment options. Several diseases exhibit fever like symptoms, including swine flu, dengue, COVID-19 and malaria amongst others. The diagnosis of these diseases includes the process of monitoring body temperature, as the body temperature plays a pivotal role in further treating the patient. Additionally, growing out-of-pocket expenditure amongst individuals worldwide for the treatment of diseases is also anticipated to promote towards the growth of the global medical forehead thermometer market. According to the statistics by the World Bank, out-of-pocket expenditure per capita (in current US$), increased from 166.595 current US$ in the year 2010 to 192.787 current US$ in the year 2017. CLICK TO DOWNLOAD SAMPLE REPORT
The global medical forehead thermometer market is anticipated to record a robust CAGR throughout the forecast period, i.e. 2020-2028. The market is segmented by product type into contact and non-contact type. The non-contact type segment is anticipated to hold the largest market share on the back of growing need for non-contact thermometers amongst healthcare operators and commercial places to monitor body temperature health, backed by the increasing concern of communicable diseases, such as the COVID-19, which has proliferated recently around the world. Such diseases demand routine temperature check-ups without contacting the individual. Non-contact thermometers use infrared technology to infer the temperature. Increasing awareness for the use of non-contact thermometers along with the increasing concern for such communicable diseases globally are some of the factors anticipated to drive the growth of the segment over the forecast period.
Growth Drivers
Growing Demand for Mercury-Free Temperature Monitoring Devices
In the early years, mercury-based thermometers were widely used. Over the time, with the increasing awareness about the harmful effects of mercury in the environment has gradually influenced towards the greater adoption of mercury-free thermometers. Mercury is known to contaminate the living organisms in the soil as well as the environment. As a result, several governmental bodies raised the awareness about the harmful effects of mercury in the environment through various initiatives. One of the widely influenced programs was registered by the United States Environmental Protection Agency, and was popularly known as the mercury pollution prevention program, helped to raise awareness amongst individuals globally, which further contribute to the rising adoption of mercury-free thermometers over the years.
Growing Need for Advanced Thermometers
Unlike conventional temperature measuring thermometers, electronic thermometers are known to provide accurate temperature monitoring data. Moreover, these thermometers also provide the user to either use the temperature sensing module with or without contacting the skin, thereby providing greater accessibility to the user. Increasing need for thermometers that are not just cost-effective, but also provide accurate temperature information are thereby anticipated to drive the growth of the market.
Growing Concern for the Spread of Communicable Diseases
Increasing concern for the spread of communicable diseases, such as the recently held global pandemic COVID-19, which has affected numerous lives, has raised the need amongst healthcare workers to adopt temperature sensing modules, such as medical forehead thermometer, which helps to monitor the temperature from a certain distance, without being in contact with the patient. As a result, the chance of spreading the virus by the contamination of medical equipment is very low. Such factors are anticipated to drive the growth of the global medical forehead thermometer market.
Restraints
Availability of Counterfeit Products
The availability of several counterfeit products of medical forehead thermometers in the market, which also forms a major part of the unorganized sector, is anticipated to restrict the growth of the global medical forehead thermometer market over the forecast period.
Market Segmentation
Our in-depth analysis of the global medical forehead thermometer market includes the following segments:
By Product Type
By Distribution Channel
By Portability
By End User
By Region
On the basis of regional analysis, the global medical forehead thermometer market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in North America is anticipated to hold the largest market share owing to the increasing awareness for mercury-free thermometers, along with the increasing expenditure of the government of nations in the region for adopting advanced medical equipment. Moreover, presence of an established healthcare infrastructure in the region is also anticipated to add on towards the growth of the gobal medical forehead thermometer market throughout the forecast period.
The global medical forehead thermometer market is further classified on the basis of region as follows:
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