Biomedical Temperature Sensors Market
PUBLISHED: 2023 ID: SMRC23747
SHARE
SHARE

Biomedical Temperature Sensors Market

Biomedical Temperature Sensors Market Forecasts to 2030 - Global Analysis By Type (Fibre Optic Sensors, Infrared Sensors, Liquid Crystal Temperature Sensors, Resistance Temperature Detectors (RTDs), Thermistors, Thermocouples and Other Types), and By Geography

4.4 (45 reviews)
4.4 (45 reviews)
Published: 2023 ID: SMRC23747

This report covers the impact of COVID-19 on this global market
Loading...

Years Covered

2021-2030

Estimated Year Value (2023)

US $7.59 BN

Projected Year Value (2030)

US $12.34 BN

CAGR (2023 - 2030)

7.18%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Europe


According to Stratistics MRC, the Global Biomedical Temperature Sensors Market is accounted for $7.59 billion in 2023 and is expected to reach $12.34 billion by 2030 growing at a CAGR of 7.18% during the forecast period. With the inclusion of sensor technologies, external temperature measuring has evolved technologically, boosting patient comfort, enhancing accuracy, and producing better monitoring tools. Its information may be essential to patients with a range of illnesses, including infections and hypothermia. Body or skin temperature sensors can be used to monitor the temperature of the body's surface. NTC thermistors, thermopiles, and digital temperature sensors are produced by TE Connectivity (TE) to satisfy the wide variety of accuracy, packaging, and performance requirements among the many applications.

According to World Economic Forum, the healthcare industry globally has witnessed huge investment and innovation. Thus, the demand for biomedical temperature sensors is increasing over the forecast period.



Market Dynamics:

Driver:

Increasing penetration of temperature sensors in advanced & portable healthcare equipment

The Temperature Sensor Market is being driven by the rising demand for cutting-edge, portable medical equipment. The need for temperature sensors is growing as a result of new technologies such sophisticated patient monitoring systems and portable health monitoring systems. The aging population, declining lifestyle, and increased viral illnesses are all predicted to contribute to an increase in demand for portable medical equipment. In order to provide continuous patient health monitoring, wearable healthcare gadgets employ temperature sensors. The market for temperature sensors is growing significantly due to the rising demand for portable and wearable healthcare devices.

Restraint:

Initially expensive for sophisticated sensors

Cobalt, nickel, manganese, iron alloy, and copper are among the raw materials used by manufacturers in the biomedical temperature sensor market. To get these resources, many firms rely on outside vendors. The profitability of manufacturers of temperature sensors is significantly impacted by the high price volatility of these raw materials and the intermittent supply. The fluctuating global economy, the availability of raw materials, trade barriers, wars, other political events, the rise in global demand, natural catastrophes, and the erratic nature of currency exchange rates are all blamed for fluctuations in raw material costs. Additionally, a globally competitive market shows the high cost of quality inspection thus hampering the growth of the market.

Opportunity:

Increasing use of wearable technology

Numerous biometric indicators, such as heartbeat and body temperature, are tracked using wearable technology. A rising number of end users are adopting wearable technology at a quick rate because they want to utilize it to increase their physical fitness and general health. One in six individuals already own and use a wearable gadget, and this adoption trend is anticipated to increase over the next few years. The companies in the temperature sensor market may anticipate benefiting from the increased demand and rising health consciousness among consumers.

Threat:

Intense competition among manufacturers

Manufacturers of biomedical temperature sensors are taking advantage of cheap prices in order to gain a foothold in rising countries like China and India. Part of this might be attributed to the fierce rivalry between the increasing number of sensor manufacturers, which has sped up the development of new temperature sensors. The already-fragmented Temperature Sensor Market is put under even more strain due to the readily available technology, which also fuels fierce rivalry among producers.

Covid-19 Impact

The industrial and electronics sectors were severely impacted by COVID-19. Due to the closure of manufacturing and processing facilities and the disruption of the worldwide supply chains of raw material suppliers, nations in North America, the Middle East, and Asia suffered significant losses. The post-shutdown demand led to a rise in market income. Temperature sensors and portable health monitoring equipment are now in more demand thanks to COVID-19. For instance, to expedite COVID-19 screening, these sensors were combined with IOT connection.

The fiber optic sensors (FoS) segment is expected to be the largest during the forecast period

The fiber optic sensors (FoS) segment is estimated to have a lucrative growth, due to Future biomedical applications that include the simultaneous collection and analysis of samples for drug safety assessment may benefit from the use of fiber optic probes that undergo total internal reflection. Additionally, it aids in the detection of drug molecules, monitoring of effluent, and general pharmaceutical quality control of the final product. Physical, imaging, chemical, and biological kinds are the four basic subtypes of biomedical FOS. Imaging sensors include cutting-edge procedures like optical coherence tomography (OCT) and photoacoustic imaging, while physical sensors monitor a number of physiological factors including body temperature, blood pressure, and muscle displacement thus enhancing the growth of the market.

The resistance temperature detectors (RTDs) segment is expected to have the highest CAGR during the forecast period

The resistance temperature detectors (RTDs) segment is anticipated to witness the highest CAGR growth during the forecast period as RTD sensors provide several benefits such as high reproducibility, consistency, and accuracy that provides accurate measurement even in harsh settings Most reliable throughout time and steady over the long term A sensor called an RTD (Resistance Temperature Detector) varies in resistance as a function of temperature. As the sensor's temperature rises, the resistance rises as well. A passive device is an RTD. A platinum thin film device called the resistance temperature detector (RTD) is used to measure temperature. It is extremely repeatable, accurate, and stable thus propelling the growth of the market.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the increased demand for medical services in the United States. Medical sensor providers are concentrating on producing high-value equipment to meet the expanding demands. On the other hand, strict government regulations across the region and the expanding healthcare industry are anticipated to promote market expansion in this area. Additionally, the region's healthcare sector uses temperature sensors often for thermal dilution catheters, continuous biological cardiac output monitoring, etc. The market for temperature sensors is anticipated to expand at a healthy rate as a result of such developments in the region's healthcare sector and the inclusion of different types of temperature sensors in more goods.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to its technological leadership in the development of HVAC systems, wearable technology, and small systems with standalone sensors. Furthermore, the market is expected to rise moderately over the long term because to increasing awareness of the benefits of these sensors across a variety of industries, such as healthcare, oil & gas, and automotive. Additionally, the region's healthcare sector uses temperature sensors often for thermal dilution catheters, continuous biological cardiac output monitoring, etc. are driving the market.



Key players in the market

Some of the key players profiled in the Biomedical Temperature Sensors Market include Amphenol Advanced Sensors, TE Connectivity Ltd, Smiths Medical Inc., Minco Products Inc., Weed Instrument Co., Analog Devices Inc., Dwyer Instruments Inc., LumaSense Technologies Inc., Pyromation Inc., Texas Instruments Incorporated, NXP Semiconductors N.V., Medtronic, GE Healthcare, Analog Devices, Inc., Pinnacle Technology Inc., STMicroelectronics and Honeywell International

Key Developments:

In August 2023, TSMC, Bosch, Infineon, and NXP Establish Joint Venture to Bring Advanced Semiconductor Manufacturing to Europe. The planned joint venture will be 70% owned by TSMC, with Bosch, Infineon, and NXP each holding 10% equity stake, subject to regulatory approvals and other conditions.

In May 2023, NIO and NXP Collaborate on 4D Imaging Radar Deployment, The cars will be able to detect and classify objects such as other vehicles and vulnerable road users in high-way and complex urban scenarios and at distances of up to 300m, bringing more safety to the roads and driving comfort for end users.

In May 2023, Medtronic to acquire wearable insulin patch maker EOFlow, The addition of EOFlow, together with Medtronic's Meal Detection Technology™ algorithm and next-generation continuous glucose monitor (CGM), is expected to expand the company's ability to address the needs of more individuals with diabetes.

Types Covered:
• Fibre Optic Sensors
• Infrared Sensors
• Liquid Crystal Temperature Sensors
• Resistance Temperature Detectors (RTDs)
• Thermistors
• Thermocouples
• Other Types

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Biomedical Temperature Sensors Market, By Type
5.1 Introduction
5.2 Fibre Optic Sensors
5.3 Infrared Sensors
5.4 Liquid Crystal Temperature Sensors
5.5 Resistance Temperature Detectors (RTDs)
5.6 Thermistors
5.7 Thermocouples
5.8 Other Types

6 Global Biomedical Temperature Sensors Market, By Geography
6.1 Introduction
6.2 North America
6.2.1 US
6.2.2 Canada
6.2.3 Mexico
6.3 Europe
6.3.1 Germany
6.3.2 UK
6.3.3 Italy
6.3.4 France
6.3.5 Spain
6.3.6 Rest of Europe
6.4 Asia Pacific
6.4.1 Japan
6.4.2 China
6.4.3 India
6.4.4 Australia
6.4.5 New Zealand
6.4.6 South Korea
6.4.7 Rest of Asia Pacific
6.5 South America
6.5.1 Argentina
6.5.2 Brazil
6.5.3 Chile
6.5.4 Rest of South America
6.6 Middle East & Africa
6.6.1 Saudi Arabia
6.6.2 UAE
6.6.3 Qatar
6.6.4 South Africa
6.6.5 Rest of Middle East & Africa

7 Key Developments
7.1 Agreements, Partnerships, Collaborations and Joint Ventures
7.2 Acquisitions & Mergers
7.3 New Product Launch
7.4 Expansions
7.5 Other Key Strategies

8 Company Profiling
8.1 Amphenol Advanced Sensors
8.2 TE Connectivity Ltd
8.3 Smiths Medical Inc.
8.4 Minco Products Inc.
8.5 Weed Instrument Co.
8.6 Analog Devices Inc.
8.7 Dwyer Instruments Inc.
8.8 LumaSense Technologies Inc.
8.9 Pyromation Inc.
8.10 Texas Instruments Incorporated
8.11 NXP Semiconductors N.V.
8.12 Medtronic
8.13 GE Healthcare
8.14 Analog Devices, Inc.
8.15 Pinnacle Technology Inc.
8.16 STMicroelectronics
8.17 Honeywell International

List of Tables
1 Global Biomedical Temperature Sensors Market Outlook, By Region (2021-2030) ($MN)
2 Global Biomedical Temperature Sensors Market Outlook, By Type (2021-2030) ($MN)
3 Global Biomedical Temperature Sensors Market Outlook, By Fibre Optic Sensors (2021-2030) ($MN)
4 Global Biomedical Temperature Sensors Market Outlook, By Infrared Sensors (2021-2030) ($MN)
5 Global Biomedical Temperature Sensors Market Outlook, By Liquid Crystal Temperature Sensors (2021-2030) ($MN)
6 Global Biomedical Temperature Sensors Market Outlook, By Resistance Temperature Detectors (RTDs) (2021-2030) ($MN)
7 Global Biomedical Temperature Sensors Market Outlook, By Thermistors (2021-2030) ($MN)
8 Global Biomedical Temperature Sensors Market Outlook, By Thermocouples (2021-2030) ($MN)
9 Global Biomedical Temperature Sensors Market Outlook, By Other Types (2021-2030) ($MN)
10 North America Biomedical Temperature Sensors Market Outlook, By Country (2021-2030) ($MN)
11 North America Biomedical Temperature Sensors Market Outlook, By Type (2021-2030) ($MN)
12 North America Biomedical Temperature Sensors Market Outlook, By Fibre Optic Sensors (2021-2030) ($MN)
13 North America Biomedical Temperature Sensors Market Outlook, By Infrared Sensors (2021-2030) ($MN)
14 North America Biomedical Temperature Sensors Market Outlook, By Liquid Crystal Temperature Sensors (2021-2030) ($MN)
15 North America Biomedical Temperature Sensors Market Outlook, By Resistance Temperature Detectors (RTDs) (2021-2030) ($MN)
16 North America Biomedical Temperature Sensors Market Outlook, By Thermistors (2021-2030) ($MN)
17 North America Biomedical Temperature Sensors Market Outlook, By Thermocouples (2021-2030) ($MN)
18 North America Biomedical Temperature Sensors Market Outlook, By Other Types (2021-2030) ($MN)
19 Europe Biomedical Temperature Sensors Market Outlook, By Country (2021-2030) ($MN)
20 Europe Biomedical Temperature Sensors Market Outlook, By Type (2021-2030) ($MN)
21 Europe Biomedical Temperature Sensors Market Outlook, By Fibre Optic Sensors (2021-2030) ($MN)
22 Europe Biomedical Temperature Sensors Market Outlook, By Infrared Sensors (2021-2030) ($MN)
23 Europe Biomedical Temperature Sensors Market Outlook, By Liquid Crystal Temperature Sensors (2021-2030) ($MN)
24 Europe Biomedical Temperature Sensors Market Outlook, By Resistance Temperature Detectors (RTDs) (2021-2030) ($MN)
25 Europe Biomedical Temperature Sensors Market Outlook, By Thermistors (2021-2030) ($MN)
26 Europe Biomedical Temperature Sensors Market Outlook, By Thermocouples (2021-2030) ($MN)
27 Europe Biomedical Temperature Sensors Market Outlook, By Other Types (2021-2030) ($MN)
28 Asia Pacific Biomedical Temperature Sensors Market Outlook, By Country (2021-2030) ($MN)
29 Asia Pacific Biomedical Temperature Sensors Market Outlook, By Type (2021-2030) ($MN)
30 Asia Pacific Biomedical Temperature Sensors Market Outlook, By Fibre Optic Sensors (2021-2030) ($MN)
31 Asia Pacific Biomedical Temperature Sensors Market Outlook, By Infrared Sensors (2021-2030) ($MN)
32 Asia Pacific Biomedical Temperature Sensors Market Outlook, By Liquid Crystal Temperature Sensors (2021-2030) ($MN)
33 Asia Pacific Biomedical Temperature Sensors Market Outlook, By Resistance Temperature Detectors (RTDs) (2021-2030) ($MN)
34 Asia Pacific Biomedical Temperature Sensors Market Outlook, By Thermistors (2021-2030) ($MN)
35 Asia Pacific Biomedical Temperature Sensors Market Outlook, By Thermocouples (2021-2030) ($MN)
36 Asia Pacific Biomedical Temperature Sensors Market Outlook, By Other Types (2021-2030) ($MN)
37 South America Biomedical Temperature Sensors Market Outlook, By Country (2021-2030) ($MN)
38 South America Biomedical Temperature Sensors Market Outlook, By Type (2021-2030) ($MN)
39 South America Biomedical Temperature Sensors Market Outlook, By Fibre Optic Sensors (2021-2030) ($MN)
40 South America Biomedical Temperature Sensors Market Outlook, By Infrared Sensors (2021-2030) ($MN)
41 South America Biomedical Temperature Sensors Market Outlook, By Liquid Crystal Temperature Sensors (2021-2030) ($MN)
42 South America Biomedical Temperature Sensors Market Outlook, By Resistance Temperature Detectors (RTDs) (2021-2030) ($MN)
43 South America Biomedical Temperature Sensors Market Outlook, By Thermistors (2021-2030) ($MN)
44 South America Biomedical Temperature Sensors Market Outlook, By Thermocouples (2021-2030) ($MN)
45 South America Biomedical Temperature Sensors Market Outlook, By Other Types (2021-2030) ($MN)
46 Middle East & Africa Biomedical Temperature Sensors Market Outlook, By Country (2021-2030) ($MN)
47 Middle East & Africa Biomedical Temperature Sensors Market Outlook, By Type (2021-2030) ($MN)
48 Middle East & Africa Biomedical Temperature Sensors Market Outlook, By Fibre Optic Sensors (2021-2030) ($MN)
49 Middle East & Africa Biomedical Temperature Sensors Market Outlook, By Infrared Sensors (2021-2030) ($MN)
50 Middle East & Africa Biomedical Temperature Sensors Market Outlook, By Liquid Crystal Temperature Sensors (2021-2030) ($MN)
51 Middle East & Africa Biomedical Temperature Sensors Market Outlook, By Resistance Temperature Detectors (RTDs) (2021-2030) ($MN)
52 Middle East & Africa Biomedical Temperature Sensors Market Outlook, By Thermistors (2021-2030) ($MN)
53 Middle East & Africa Biomedical Temperature Sensors Market Outlook, By Thermocouples (2021-2030) ($MN)
54 Middle East & Africa Biomedical Temperature Sensors Market Outlook, By Other Types (2021-2030) ($MN)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials