PATIENT TEMPERATURE MONITORING MARKET ANALYSIS

Temperature is one of the vital signs signifying the well-being of a person, for which the medical society recommends monitoring and management, as a part of standard care therapy for patients undergoing surgery due to critical illness. Patient temperature monitoring systems are used in preoperative warming, operating and surgery rooms, post-operating warming, critical care units, intensive care units, chemotherapy, and emergency medical services. There are four types of temperature sensors that are most commonly used in modern-day electronics such as RTDs (resistance temperature detectors), semiconductor based integrated circuits (IC), thermocouples, and thermistors.

Global patient temperature monitoring market is estimated to be valued at US$ 3,711.8 million in 2022 and is expected to exhibit a CAGR of 7.9% during the forecast period (2022-2030).

Figure 1. Global Patient Temperature Monitoring Market Share (%), by Product, 2022

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Global Patient Temperature Monitoring Market- Drivers

Increasing patient temperature monitoring product launches by the market players is expected to drive the global patient temperature monitoring market growth over the forecast period. For instance, in November 2020, Celsium, a body temperature monitoring devices company launched smart wearable thermometer, which has a sensor that attaches under the armpit taking temperature readings every four seconds. The thermometer comes with a battery and disposable adhesive patch that attaches to the skin.

Furthermore, in October 2020, greenTEG, a body temperature monitoring devices company, received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration for COREmedical, as a clinical thermometer.

Increasing collaboration and partnership agreements between key players in the market is expected to drive the growth of the global patient temperature monitoring market. For instance, in October 2018, VivaLNK, a provider of digital healthcare solutions, announced partnership with Reckitt Benckiser (RB), a consumer goods company, to distribute wearable continuous temperature monitors worldwide. The products, Enfasmart FeverSense and Nurofen FeverSmart are both aimed at parents who wish to automatically track temperature changes in their child, in order to take immediate action following detection of fever.

Figure 2. Global Patient Temperature Monitoring Market Share (%), by Region, 2022

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Global Patient Temperature Monitoring Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another.

However, the COVID-19 pandemic had a positive impact on the global patient temperature monitoring market, owing to increased demand of the patient temperature monitoring devices and increasing product launches. Remote Patient Monitoring devices offer patients the tools they need to effectively manage their chronic diseases and comprehend the causes of their particular pathologies.

 For instance, in October, 2020, greenTEG, a medical technology company, received a waiver status to sell its COREmedical under the Emergency Use Authorization (EUA), a policy which limits pre-market requirements for selected low risk devices, which were developed to aid the global battle against the Covid-19 virus. Moreover, COREmedical is for routine medical temperature screenings such as those conducted prior to admission in the hospital and intensive care unit. Furthermore, in April, 2020, Aranet, a technology company, launched new medical grade thermometer for hospitals globally battling COVID-19.

Global Patient Temperature Monitoring Market: Key Developments

On March 28, 2022, Biobeat, a wearable remote monitoring solutions company, announced that its wearable remote patient monitoring device had received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to monitor body temperature.

On March 3, 2022, CIRCA Scientific, Inc., a medical device company, announced that its S-CATH M Esophageal Temperature Probe is now cleared by U.S. Food and Drug for sales in the U.S.

Global Patient Temperature Monitoring Market: Restraint

The major factor that is expected to hinder growth of the global patient temperature monitoring market include increasing product recall. Increasing product recalls by regulatory authorities is expected to hamper growth of the global patient temperature monitoring market over the forecast period. For instance, in April 2022, Exergen Corporation, a manufacturer of infrared scanners, thermometer, and sensors calls on U.S. Food and Drug Administration (FDA) to recall and prevent future sales of non-contact infrared thermometers, whose inaccuracy is danger to the public health.

Moreover, a new U.S. Food and Drug Administration (FDA) published study demonstrate failure of non-contact infrared thermometers (NCITs) to reliably detect fevers when used on adults in accordance with the NCITs instructions, and fail to be within the accuracy specifications as advertised in manufacturers literature, instruction for use, and other labelling is expected to hamper the market growth.

Moreover, in August 2018, Medtronic, a medical device company received notification from the original equipment manufacturer Degania Silicon that they are recalling specific production lots of Mon-a-Therm Foley catheters with temperature sensors due to defective temperature sensors that show lower body temperature measurements than the actual temperature of a patient.

Global Patient Temperature Monitoring Market- Key Players

Major players operating in the global patient temperature monitoring market include Medtronic, Cardinal Health, 3M, Becton, Dickinson and Company, Geratherm Medical AG, A&D Medical, Braun, Paul Hartmann AG, Nureca, Koninklijke Philips N.V., Masimo, Dongguan Actherm Medical Corp, Microlife Corporation, DeltaTrack Inc., Steadysense Gmbh, IWEECARE Co., Ltd, Recon Health Inc., VivaLNk, Inc., Celsium , and GreenTeg AG.