Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Temperature Monitoring System Market size was valued at USD 3.35 billion in 2024 and is expected to reach USD 6.97 billion by 2037, expanding at around 5.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of temperature monitoring system is evaluated at USD 3.67 billion.
The market is growing on the back of increased regulations and stringent compliance policies in the healthcare industry, especially in hospitals, cold storage facilities, and patient monitoring systems. For instance, according to National Health Profile (NHP), 2021, in India, the number of hospitals increased from 25778 in 2019 to 41245 in 2021.
Temperature monitoring systems use sensing technology to automatically gather temperature data. Temperature monitoring systems make use of sensors, thermal buffers, data storage, temperature measurement devices, alarms, and software. The installation of these monitoring systems aids in the early detection of any possible temperature issues and gives prompt notification. This becomes possible due to their internet of things (IoT) technology. They connect with the local wi-fi, making it possible to access records and data from anywhere, and allow for remote access. With more than 10 billion IoT devices globally in 2020, the demand for such easily accessible temperature monitoring systems is bound to grow.
Temperature Monitoring System Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Demand for the Product from the Rising Number of Pharmacies – Pharmacies and medicine suppliers often house products such as IV solutions, vaccines and other liquid medical formulations that require stringent temperature control and regulation. The number of pharmacies increased from 59000 in 2015 over 85000 in 2022 and are expected to grow further as medical infrastructure strengthens.
- Stringent Temperature Regulations in Place – In the healthcare industry, different samples, products and materials require to be stored at different temperatures. The regulations for such are quite strict and are enforced by various organizations. For instance, according to WHO, blood samples which are collected for various purposes must be regulated to around 25 degrees Celsius.
- Rise in the Prevalence of Chronic and Infectious Diseases – Rise in chronic and infectious diseases require the administration of various medicines to be treated, and hence medical institutions are under pressure to administer and treat these diseases effectively. According to CDC, 12 in 20 adults in the US suffer from a chronic disease. Diabetes for instance, requires the administration of insulin in many cases, and it is recommended that insulin be stored in a refrigerator at approximately 36°F to 46°F.
- Better Cold Supply Chains – The capacity of refrigerated warehouses increased more quickly because of the coronavirus pandemic, reaching over 700 million cubic meters in 2020. Products including fruits and vegetables, and pharmaceutical medications are all preserved for an extended period using cold chain logistics. The transfer of the COVID-19 vaccine from the maker to the recipient is an illustration of cold chain logistics in the pharmaceutical industry. Temperature monitoring and regulation are an important part of the cold supply chains.
- Mandatory Temperature Checks in Public Places - Since fever is a primary symptom of COVID-19, it has become mandatory to undergo temperature checks in all public places such as airports, malls, subways, etc. This has positively impacted the temperature monitoring systems industry, with thermometer sales rising over 125% in 2020.
Challenges
- Low Demand in Underdeveloped Countries
- High Initial Cost of Installation
- Possibility of Transmission of Infectious Agents in Contact-Based Systems
Temperature Monitoring System Market: Key Insights
| Report Attribute | Details |
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.8% |
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Base Year Market Size (2024) |
USD 3.35 billion |
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Forecast Year Market Size (2037) |
USD 6.97 billion |
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Regional Scope |
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Temperature Monitoring System Segmentation
End-user (Hospitals, Medical Device Companies, Pharma/Biotech Companies, Public Places, Home Use)
The global temperature monitoring system market is segmented and analyzed for demand and supply by end-user into hospitals, medical device companies, pharma/biotech companies, public places, home use, and others. Out of these segments, the hospitals segment is expected to garner the highest market share in 2037. This is based on the fact that hospitals attract patients, store vaccines, blood samples, and other pharmaceutical products, and hence are one of the biggest employers of temperature monitoring systems. For instance, there were about 6100 hospitals in the U.S. in 2020.
Our in-depth analysis of the global temperature monitoring system market includes the following segments:
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By Technology |
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By Product |
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By End-user |
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By Application |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Temperature Monitoring System Industry - Regional Synopsis
Regionally, the global temperature monitoring system market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America industry is likely to account for largest revenue share of 43% by 2037. Given that the United States spends the most on healthcare—upwards of 12,000 USD per person—the market in North America is anticipated to have the largest market share by the end of 2037.
Companies Dominating the Temperature Monitoring System Landscape
- Koninklijke Philips N.V.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- SensoScientific, Inc.
- Masimo Americas, Inc.
- OMRON Healthcare, Inc.
- Geratherm Medical AG
- KAZ Europe Sàrl
- A&D Company Ltd.
- Toshiba Inc.
- 3M
- Exergen Corporation
Recent Developments
- Exergen Corporation, in order to advertise the professional series Temporal Artery Thermometers in Australia and New Zealand, Exergen Corporation, a leader in infrared temperature monitoring technologies for medical applications, announced that it had signed a marketing and distribution agreement with ECOMED.
- Masimo Americas, Inc announced the public launch of the Radius T° Continuous Thermometer, a much more convenient way of monitoring fever. The wristband, with a wireless sensor, offers convenient and continuous body temperature measurements.
Author Credits: Richa Gupta
- Report ID: 404
- Published Date: Dec 20, 2024
- Report Format: PDF, PPT
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