Thermal Printhead Market - Regional Analysis
Asia Pacific Market Insights
Asia Pacific industry is predicted to account for largest revenue share of 35% by 2035. The growth of the market can be attributed majorly to the increasing digital transactions and higher frequency of using barcodes for transactions in the region. Asia-Pacific is expected to have the highest growth in cashless transactions, with about 110% increase from 2020 to 2025, followed by around an 80% increase from 2025 to 2030, before Africa and Europe. Moreover, in India, around 40% of the total population uses QR codes for making payments. On the other hand, the market size in the region is expected to expand on account of the rising use of thermal printheads for printing medical rhythms, patient information, and receipts in hospitals. Therefore, the higher number of patients admitted to hospitals and expanding hospital capacity will boost the market growth in the region. In the recent event of burgeoning COVID-19 cases in China, the western Shaanxi province has reserved around 22,000 hospital beds, and it is prepared to convert other beds to improve its intensive care capacity by approximately 20%.
North America Market Insights
The thermal printhead market in the North America region is estimated to grow substantially during the time period between 2024 and 2035. The thriving technology sector in the North American market, the presence of several large players in the region, the various sectors in which the product is required, and the large investments made by different companies to develop new technologies are the main drivers of revenue growth in the North American market.
