- May 03, 2018 -
Technical enhancements have introduced, infrared thermometer, which is capable of measuring the radiation emitted by a body, or an object. These thermometers are used for measuring ear, forehead etc. A new research report introduced by the team of Persistence Market Research, involves analysis of global infrared thermometer market.
The report, titled 'Infrared Thermometer Market: Global Industry Analysis 2013 - 2017 and Forecast 2018 - 2026' is based on future market forecast and factors influencing the market growth. The outcomes of this exhaustive research process reveals that the global infrared thermometer market is expected to reach a market value of over US$ 1 Bn by the end of 2026, growing at a CAGR of 8.5% during the forecast period.
The global infrared thermometers market witnesses the maximum impact of increasing investments on the healthcare industry and also the various technological advancements that are taking place. This has given a birth to the infrared thermometer device and its market, which is taken ahead by the capabilities of the device. Infrared thermometers are said to provide more accurate results than the conventional thermometers.
The market is expected to gain high popularity in the coming years as more and more people will depend on the technology. It has found its application in areas like medical and veterinary industry, among which the application is currently higher in medical sector.
According to the research report, medical industry is expected to hold a market value of over US$ 620 Mn by the end of 2026. However, the future shows proliferating demand from the veterinary sector which is expected to grow at a CAGR of 8.8% during the forecast period. The market also includes different types of thermometers like forehead, ear and multifunctional.
Among these, larger part of the market is covered with the demand for forehead thermometers. It is said to be safer as compared to ear thermometers. Though forehead thermometer has high cost as compared to ear and multifunction thermometer, still people adopt forehead thermometer due to its accuracy and low rate of infection.
Infrared Thermometers Market: Competitive Landscape
The report covers a brief view of all the leading manufacturers for infrared thermometers. In the medical sector, leading providers of infrared thermometers are Braun, Contec, Omron, Hartmann, Microlife, Vivehealth etc. In the veterinary sector, the leading players are Bioseb, Mediaid, iSnow Med, Greatfarm etc. The research report has briefly depicted the market presence of such companies in the coming years and also their marketing strategies.
The leading companies that are a part of tier 1, has contributed a market value of over US$ 380 Mn in 2017, whereas tier 2 companies are lagging behind and have contributed only 49% revenue in the global market. Co-commercialization and distribution agreements are the common marketing and distribution strategies adopted by these key players in the global Infrared Thermometers market. The coming years will showcase new strategies adopted by the companies amid intensified competition.