Temperature Monitoring System Market Global Growth Drivers, Share, Business Opportunities and Insights Forecast to 2026
The global temperature monitoring
system market size is projected to reach USD 3.00 billion by 2027, exhibiting a
CAGR of 11.2% during the forecast period. Surging number of COVID-19 cases
worldwide will spike the adoption of temperature monitoring devices, shares
Fortune Business Insights™ in its report, titled “Temperature Monitoring System Market Size, Share & COVID-19 Impact
Analysis, By Product (Analog Temperature Monitoring Devices & Digital
Temperature Monitoring Devices), By Type (Contact & Non-Contact) By End
User (Healthcare Facilities, Home Care Settings, and Others), and Regional
Forecast, 2020-2027”. According to the World Health Organization (WHO), as
of August 3, 2020, global coronavirus cases stood at 17,918,582, with the
reported deaths at 686,703. The COVID-19 infection has been found to spread not
only through contact and fomites but recent studies have also shown that it can
be transmitted through air. As a result, doctors, physicians, and other
healthcare workers are avoiding being in close proximity to patients. This has
created a huge demand for remote, sensor-based thermometers that can check and
monitor temperatures from a distance, thus preventing spread of the infection
among frontline workers. Moreover, security officials at public places are also
equipped with these devices to prevent the entry of any infected persons in
such spaces.
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The report states that the global
market value stood at USD 1.14 billion in 2019 and shares the following
information:
·
Exhaustive examination of all the factors driving and
restraining the market;
·
In-depth analysis of the various market segments;
·
Detailed study of the regional developments shaping
the market; and
·
Tangible research into the competitive landscape of
the market.
Market Restraint
Fears of Mercury Poisoning May Inhibit Product
Adoption
A major
hurdle stalling the temperature monitoring system market growth is the health
risks associated with mercury poisoning. Conventional thermometers are filled
with mercury because it is the only metal that remains liquid at room
temperature and expands at the slightest change in temperature. Thus,
mercury-based thermometers can immediately show elevated body temperature.
However, despite its effectiveness, breaking of these devices and the resultant
mercury spillage is a very real threat that raises understandable concerns
among patients. The WHO states that exposure to mercury can have toxic
consequences for the digestive, nervous, and immune systems, lungs, eyes,
kidneys, and skin. The dangers are even more pronounced in young infants and
particularly detrimental for pregnant women. As a result, digital temperature
monitoring systems are being widely adopted by health professionals and even by
households around the world to prevent exposure to mercury.
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