The patient temperature monitoring market was valued at US$ 2,946.47 million in 2019 and is projected to reach US$ 4,386.01 million by 2027; it is expected to grow at a CAGR of 5.2% during 2020 - 2027.

Factors driving the growth of the patient temperature monitoring market are growing prevalence of chronic and infectious diseases, and growing awareness of continuous temperature monitoring and preventive care. However, the high cost of advanced temperature monitoring devices in emerging nations hinders the growth of the market.

Patient temperature monitoring involves keeping an eye on temperature variations in patients. Rise in temperature in commonly observed indication during viral infection or many other critical health-related conditions, which makes it an important aspect for disease diagnosis. Several products are available in the market as per customers' requirements. With technological advancements, temperature monitoring practices are gradually shifting toward remote monitoring procedures.

Patient body temperature might vary as a result of the reaction to disease-specific stimuli. Human body regulates its normal temperature to support the body's own defense mechanisms. Additionally, other clinical indications of temperature monitoring such as hypothermia or hyperthermia, and infection existence represent the importance of continuous temperature monitoring. These benefits are expected to accelerate the adoption of thermometers during the forecast period.

The global patient temperature monitoring market is segmented on the basis of product, site, and application. The market, by site, is segmented into noninvasive temperature monitoring and invasive temperature monitoring. Noninvasive temperature monitoring segment is further fragmented into oral temperature monitoring, axillary and temporal artery temperature monitoring, and tympanic membrane temperature monitoring. Moreover, the market for invasive temperature monitoring is subsegmented into nasopharynx temperature monitoring, esophageal temperature monitoring, rectal temperature monitoring, and urinary bladder temperature monitoring. The noninvasive temperature monitoring segment held a larger share of the market, and it is also projected to register a higher CAGR during the forecast period. Based on product, the patient temperature monitoring market is segmented into wearable continuous monitoring sensors, smart temperature monitoring patches, table-top temperature monitoring devices, handheld temperature monitoring devices, and invasive temperature monitoring devices. The market for table-top temperature monitoring devices is further segmented into noninvasive vital signs monitoring devices and continuous core body temperature monitoring devices. On the other hand, the market for handheld temperature monitoring devices is subsegmented into digital thermometers, infrared thermometers, and mercury thermometers. Based on application, the market is segmented into pyrexia/fever, hypothermia, blood transfusion, anesthesia, and other applications (sleep management and weight management).

A few of the essential primary and secondary sources referred to while preparing this report include Food and Drug Administration (FDA), World Health Organization (WHO), Organization for Economic Co-operation and Development, National Institutes of Health (NIH), and Centers for Disease Control and Prevention (CDC).