North America Patient Temperature Monitoring Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product; Site; Application, and Country

North America Patient Temperature Monitoring Market to 2027 – COVID-19 Impact Analysis and Regional Analysis and Forecast – by Product, Site and Application.

The North America patient temperature monitoring market is expected to reach US$ 2,021.51 million by 2027 from US$ 1,331.42 million in 2019. The market is estimated to grow at a CAGR of 5.5% during 2020–2027. The patient temperature monitoring market is growing primarily due to the growing prevalence of infectious and chronic diseases and growing awareness of continuous temperature monitoring and preventive care in the North America region. Factors such as risks associated with the invasive temperature monitoring device damage the growth of the market. Additionally, increasing R& D activities and product launches and growing focus on remote patient monitoring are likely to fuel the growth of the patient temperature monitoring market during the forecast period.

Patient temperature monitoring deals with the keeping an eye on temperature variations in the patients. Rise in temperature in commonly observed indication during viral infection or any other critical health related condition. Hence, it is an important aspect for disease diagnosis. There are several products available in the market as per requirement. With the advent of technological advancements, the temperature monitoring is gradually shifting towards remote patient temperature monitoring.

Extensive number of R& D activities are being conducted by industry players to develop advanced temperature monitoring systems. These technology partnerships are likely to offer significant opportunity for the new product launches and introduction of wide variety of the products during the forecast period. For instance, in April 2020, the partnership of Bioclinica and VivaLNK announced the launch of an advanced remote patient body temperature monitoring for clinical trials. According to the companies, the solution is anticipated to provide comprehensive patient body temperature data from any remote location, whether it may be home or research facility. Thus, the increasing number of R& D activities, coupled with growing number of viral outbreaks, is also projected to drive the market growth during the forecast period.

Increasing number of product introductions that are equipped with advanced computing instructions are anticipated to offer lucrative opportunity for the market growth during the forecast period. For instance, in May 2020, VivaLNK, one of the significant players in connected healthcare solutions, entered into strategic partnership with Current Health. According to the agreement, VivaLNK agreed to provide its continuous temperature sensor for Current Health’s AI-powered remote patient monitoring (RPM) solution. The partnership is planning to launch this product to reduce hospital overcrowding and readmissions by enabling monitoring of patient vitals at home. Additionally, in March 2020, UTM Healthcare, a mobile health technology company updated its smartphone-based remote patient monitoring platform by incorporating a module to capture Bluetooth-enabled thermometer readings. This new capability will allow healthcare providers to keep track of patient’s body temperature without actually visiting the hospitals. The company has updated its version, especially to fight against COVID-19 crisis.

Research institutes, pharmaceutical, and biotech companies are engaged in collaborative work to address the COVID-19 outbreak. The COVID-19 crisis in the region has led to increased adoption of temperature monitoring devices, as it is one of the major factor in diagnosis of COVID-19 infection. Moreover, significant number of players also launched new devices and platform to keep track of patient’s health on the basis of body temperature with increasing incidence of COVID-19 and keep track of patient’s health are certainly projected to have positive impact of adoption of patient temperature monitoring.

Based on product, the patient temperature monitoring market is further segmented into handheld temperature monitoring devices, table-top temperature monitoring devices, invasive temperature monitoring devices, smart temperature monitoring patches, and wearable continuous monitoring sensors. The table-top temperature monitoring devices segment is further sub segmented into non-invasive vital signs monitoring devices and continuous core body temperature monitoring. The handheld temperature monitoring devices product segment is further categorized into digital thermometers, infrared thermometers, and mercury thermometers. In 2019, the handheld temperature monitoring devices segment accounted for the largest share of the market. Growth of this segment is attributed to the increasing adoption of handheld devices due to superior patient convenience and product availability.

A few of the significant secondary sources associated with the North America Patient temperature monitoring market report World Health Organization (WHO), International Diabetes Federation (IDF), Centers for Disease Control and Prevention (CDC), American Cancer Society (ACS), and others.