Global Infrared Thermometers Market to Reach $1.3 Billion by 2026

FACTS AT A GLANCE
Edition: 7; Released: May 2021
Executive Pool: 726
Companies: 142 – Players covered include BPL Medical Technologies; Braun GmbH; Cardinal Health (Medtronic); Contec Medical Systems Co., Ltd.; Exergen; Geratherm Medical AG; Microlife Corporation; OMRON Healthcare; PAUL HARTMANN AG; Thermomedics, Inc.; Welch Allyn and Others.
Coverage: All major geographies and key segments
Segments: Application (Medical, Veterinary); Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Stores); Measurement Point Types (Ear, Forehead, Multifunction)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Infrared Thermometers Market to Reach $1.3 Billion by 2026

An infrared thermometer, being easy to use and accurate, is utilized for measuring temperature without physical contact and could be easily and correctly calibrated without much effort. Infrared thermometers offer more accurate and reliable results in comparison to conventional thermometers. An infrared thermometer deduces temperature from a part of thermal radiation, also referred as black-body radiation, that the object required to be measured emits. An infrared thermometer is occasionally also referred as temperature gun or non-contact thermometer due to its ability of measuring temperature through a distance; while at times the thermometer is referred as laser thermometer since a laser is utilized for aiming the thermometer. The temperature of an object could be evaluated within the actual temperature’s specific range by comprehending the infrared energy amount that the object emits, along with its emissivity. Infrared thermometers belong to thermal radiation thermometers group of devices.

Amid the COVID-19 crisis, the global market for Infrared Thermometers estimated at US$752.5 Million in the year 2020, is projected to reach a revised size of US$1.3 Billion by 2026, growing at a CAGR of 9.6% over the analysis period. Forehead Infrared Thermometers, one of the segments analyzed in the report, is projected to record a 10.5% CAGR and reach US$965.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ear Infrared Thermometers segment is readjusted to a revised 7.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $460.4 Million in 2021, While China is Forecast to Reach $123.3 Million by 2026

The Infrared Thermometers market in the U.S. is estimated at US$460.4 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$123.3 Million by the year 2026 trailing a CAGR of 9.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.7% and 8.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.4% CAGR.

This simple medical instrument available over- the-counter (OTC) is witnessing a sudden surge in demand as temperature screening and monitoring becomes more popular, prominent and even mandatory in countries worldwide. With fever being a telltale symptom of COVID-19, the beginning of the pandemic witnessed all airport authorities worldwide deploy infrared thermometer guns to screen for sick passengers. With the pandemic spreading and with most countries experiencing community spread, the practice of fever detection has become more widespread. Currently, supermarkets, shopping malls, offices and all other public spaces have begun scanning customer temperatures to identify and isolate COVID-19 patients. Use of thermometers among public health officials has also skyrocketed with governments imposing mandatory screening, contact tracing and strict quarantine for people with COVID-19 symptoms. Even consumers are stepping up their spending on medical essentials such as hand sanitizers, medical masks, gloves, vitamin supplements and thermometers. OTC purchases of thermometers have therefore spiked significantly since the start of the pandemic. Especially benefiting are infrared thermometers given their non-contact use which is valuable given the highly transmissible nature of COVID-19 via infected surfaces and physical contact. 

In the post COVID-19 period innovation will emerge to spur new growth opportunities. A noteworthy innovation already brought to the market is a next-generation, smart infrared thermometer developed in Taiwan integrated with artificial intelligence (AI) to reduce erroneous readings. The AI feature enables the device to measure temperatures by detecting people’s faces. This reduces errors owing to interference from radiation emitted by objects held in an individual’s hand being screened. Another notable innovation is the launch of non-contact forehead infrared thermometer. The new solution is expected to play a vital role in tackling the challenges arising from the spread of coronavirus. The FDA approved device provides instant temperature readings without making any physical contact with the individual being screened. The innovative COVID-19 risk prevention solution is primarily designed to reduce cross contamination and improve safety while conducting daily preventive protection processes in large workforce environments.

Multifunction Segment to Reach $138.1 Million by 2026

In the global Multifunction segment, USA, Canada, Japan, China and Europe will drive the 8.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$73.9 Million in the year 2020 will reach a projected size of US$130.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5 Million by the year 2026, while Latin America will expand at a 9.5% CAGR through the analysis period. More

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Global Industry Analysts, Inc.
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