Importance of temperature monitoring in Healthcare Industry to Drive Global Temperature Monitoring System Market

According to our new research study on "Temperature Monitoring System Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Application, Type and Industries," the market is expected to grow from US$ 5.15 billion in 2021 to US$ 6.85 billion by 2028; it is estimated to grow at a CAGR 4.8% during 2021-2028. Factors driving the market's growth are technological advancements and rising manufacturing activities across various type of industries. Healthcare facilities primarily depend upon temperature-sensitive assets to provide patients with high-quality care. Maintaining proper temperature conditions of vaccines and medications related to diagnostic lab and blood samples is an important factor for the pharma sector to prevent any kind of product loss.

Temperature-related issues have a direct impact on pharma sector. Maintaining the potency of medications and vaccines is more difficult due to compliance, legal regulations, and environmental conditions. According to National Center for Biotechnology Information (NCBI), a shipment of Intralipid % IV fat emulsion, 100 mL bags (Baxter International, Inc.) was inappropriately exposed to subfreezing temperatures-outside the declared permitted storage range-on its route to a distribution site in August 2017. About two months later, the manufacturer voluntarily recalled this parenteral nutrition product and advised patients to discard their supply. An effective temperature monitoring system that indicates system inconsistencies is required to avoid such instances. Temperature-sensitive pharmaceuticals pass through numerous stages and inspections before arriving at their final destinations, making them vulnerable to various environmental conditions such as temperature, light, humidity, and cleanliness while in storage and transit. As a result, it is critical to get appropriate equipment and procedures to monitor their temperature frequently to ensure that product quality is not affected. As temperature is one of the critical factors in pharmaceutical companies, it is important to monitor the same. This drives the demand for temperature monitoring systems in pharmaceutical companies.

Vaisala, Monnit Corporation, SensoScientific Inc., E-control System Inc., CenTrak, 3M, ABB, Deltatrak, Emerson Electric Co., and Honeywell International Inc. are among the leading companies operating in the temperature monitoring system market.

The temperature monitoring system market is segmented on the basis of application, type, industries and geography. Based on application, the market is segmented into GxP environment and life science applications, cold chain applications, vaccine, semiconductor manufacturing, cleanrooms, data centers and equipment rooms, museums and archives, food and beverage manufacturing, chart recorder replacement, and others. Based on type, the temperature monitoring system market is bifucated into contact-based temperature monitoring system and non-contact temperature monitoring system. Based on industries, the temperature monitoring system market is segmented into healthcare and life science facilities, medical device manufacturing companies, pharmaceutical and biotechnology companies, food and beverage product manufacturers, and others. Geographically, the temperature monitoring system market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and Rest of Middle East & Africa), and South and Central America (Brazil, Argentina, and Rest of South and Central America).

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