PUBLISHER: Inkwood Research | PRODUCT CODE: 1364671
PUBLISHER: Inkwood Research | PRODUCT CODE: 1364671
The North America thermometer market is expected to project a CAGR of 6.83% during the forecast period, 2023-2032. Ongoing technological advancements, such as the integration of smart features and wireless connectivity, have expanded the capabilities and convenience of thermometers, making them more appealing to consumers.
Canada and the United States are analyzed for the North America thermometer market growth assessment. The thermometer industry in Canada is experiencing notable advancements and expansion, driven by various factors and the healthcare landscape within the country. A primary catalyst for this growth is the robust Canadian healthcare sector, characterized by substantial expenditures and an increasing rate of hospitalizations. According to the Canadian Institute for Health Information, it is projected that in 2022, Canada will spend an impressive $331 billion on healthcare, equating to an average expenditure of $8,563 per Canadian citizen. This expenditure is expected to account for 12.2% of Canada's Gross Domestic Product (GDP) in 2022, demonstrating a significant financial commitment to healthcare services.
Further, the rising number of acute inpatient hospitalizations, which exceeded 2.9 million in 2021-2022, compared to 2.7 million the previous year, highlights the growing demand for precise temperature measurement devices within the healthcare system. Thermometers play a crucial role in monitoring patients' well-being, aiding in the early detection and management of various diseases, including infectious ones like malaria.
Some of the leading companies in the market are: A&D Medical, 3M, Medline Industries Inc, etc.