Weight Monitoring And Body Temperature Monitoring Devices And Equipment Global Market Report 2024

The weight monitoring and body temperature monitoring devices and equipment market size has grown rapidly in recent years. It will grow from $9.32 billion in 2023 to $10.57 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The increase in the past period can be attributed to the heightened awareness of maternal and neonatal health, improved healthcare accessibility, the management of high-risk pregnancies, as well as the adoption of telemedicine and remote monitoring.

The weight monitoring and body temperature monitoring devices and equipment market size is expected to see rapid growth in the next few years. It will grow to $16.97 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The anticipated expansion in the upcoming period can be ascribed to the growth of emerging markets, the advancement of personalized medicine, an upsurge in premature birth rates, and the adoption of value-based healthcare. Notable trends in the forecast period encompass non-invasive monitoring, the use of wearable and in-home monitoring devices, the integration of artificial intelligence (AI) and machine learning, and a heightened emphasis on data security and privacy.

The increasing prevalence of obesity stands out as a significant driver in the weight monitoring and body temperature monitoring devices and equipment market. Notably, the World Health Organization (WHO) reports that a staggering 1.9 billion adults worldwide are classified as overweight, along with more than 340 million children aged 5 to 19. Addressing the growing issue of obesity, weight monitoring devices play a crucial role by reminding users to maintain a healthy diet and monitor their exercise routines. This, in turn, spurs the demand for weight monitoring devices, ultimately fueling the growth of the market for weight monitoring and body temperature monitoring devices and equipment.

The primary categories of these devices and equipment consist of weight monitoring devices and temperature monitoring devices. Weight monitoring devices serve the purpose of measuring quantities, dimensions, or characteristics of items intended for distribution or consumption, whether for sale or rental. Temperature monitoring devices encompass tabletop temperature monitors, handheld temperature monitoring tools, wearable continuous monitoring thermometers, temperature sensors, and smart temperature patches. These tools find application in various settings, including hospitals, clinics, homes, and ambulatory surgical centers.

The weight monitoring and body temperature monitoring devices and equipment market research report is one of a series of new reports that provides weight monitoring and body temperature monitoring devices and equipment market statistics, including weight monitoring and body temperature monitoring devices and equipment industry global market size, regional shares, competitors with a weight monitoring and body temperature monitoring devices and equipment market share, detailed weight monitoring and body temperature monitoring devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the weight monitoring and body temperature monitoring devices and equipment industry. This weight monitoring and body temperature monitoring devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A rising demand for home healthcare services is anticipated to be a key factor driving the growth of the weight monitoring and body temperature monitoring devices and equipment market in the foreseeable future. Home healthcare involves the medical care provided to patients during recovery from illness, injury, surgery, or for managing chronic health conditions. Weight monitoring and body temperature monitoring devices and equipment play a vital role in home healthcare by helping individuals track their health and manage their specific medical needs. For instance, a report from the Rockefeller Institute of Government in August 2023 predicts a 25% increase in US home health and personal care aide positions, reaching 924,000 between 2021 and 2031. This surge in home healthcare services augments the growth of the weight monitoring and body temperature monitoring devices and equipment market.

The product recalls serve as a significant restraint on the weight monitoring and body temperature monitoring devices and equipment market. Notably, the US Food and Drug Administration (FDA) has issued recalls for various digital thermometers due to calibration inaccuracies and incorrect body temperature displays. Furthermore, thermometers manufactured by the 3M company were subject to FDA recall after a thorough investigation related to temperature inaccuracies. In June 2023, BearCare Inc. also had to recall its rechargeable walnut wearable smart thermometers due to safety risks, including serious injuries. The substantial number of product recalls adversely affects the growth of the weight monitoring and body temperature monitoring devices and equipment market.

The utilization of wearable technology is an emerging trend in the weight monitoring and body temperature monitoring devices and equipment market. Notably, prominent companies like Apple, Google, and Samsung are actively investing in the research and development of wearable devices. These wearables are equipped with advanced sensors that can measure and monitor body temperature and weight. Various innovative products have been introduced in the wearable category, such as Blue Spark's Temp Traq, a wearable temperature monitor, and Fitbit wearables designed to track and monitor weight.

Major companies operating in the weight monitoring and body temperature monitoring devices and equipment market are placing a strong focus on developing innovative technologies, particularly temperature monitoring solutions, to offer reliable services to consumers. Temperature monitoring solutions are comprehensive systems designed to measure and record an individual's body temperature over time, enabling health monitoring. For instance, in December 2021, Konica Minolta Inc., a Japan-based manufacturer of optical and digital planetarium equipment, launched the FORXAI Temperature Monitoring App (TMA). This uniquely designed system employs an edge thermal camera to continuously capture temperature data. The TMA offers users the ability to establish thresholds based on actual data and define normal temperature using historical temperature data from specific measuring sites, ensuring precise temperature monitoring.

Major companies operating in the weight monitoring and body temperature monitoring devices and equipment market include Philips Healthcare, Medtronic PLC, GE HealthCare Technologies Inc., Abbott Laboratories, 3M, Nihon Kohden, Omron Healthcare, Siemens Healthcare, Honeywell International Inc., Infinium Medical Inc., Roche Diagnostics Limited, Procter & Gamble, American Diagnostic Corporation, Masimo Corporation, Terumo Medical Corporation, Microlife Corporation, Becton Dickinson and Co, C R Bard Inc., Cyberonics Inc., Reflectance Medical Inc., Johnson and Johnson, LifeSource, Biome, Drägerwerk AG & Co. KGaA, Briggs Healthcare, Cosinuss GmbH, Vital Connect inc., EarlySense, VivaLNK, Blue Spark Technologies

Asia-Pacific was the largest region in the global weight monitoring and body temperature monitoring devices and equipment market in 2023. North America was the second-largest region in the weight monitoring and body temperature monitoring devices and equipment market share. The regions covered in the weight monitoring and body temperature monitoring devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the weight monitoring and body temperature monitoring devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The weight monitoring and body temperature monitoring devices and equipment market consist of sales of table-top temperature monitoring devices, handheld temperature monitoring devices, wearable continuous monitoring thermometers, temperature monitoring sensors, and smart temperature patches. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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