Thermal Printhead Market Outlook:
Thermal Printhead Market size was over USD 948.61 million in 2025 and is anticipated to cross USD 1.47 billion by 2035, witnessing more than 4.5% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of thermal printhead is assessed at USD 987.03 million.
The growth of the market can be attributed to the increasing number of hospital visits and the increasing number of hospitals. Thermal printheads are used to print patient wristbands, hospital equipment labels, medications, etc. Japan had about 8,000 hospitals in 2020. Meanwhile, the United States had nearly 8,000 hospitals, followed by South Korea with about 4,100. In addition, the number of patients coming to the hospital also increased significantly due to Covid-19. As of January 2022, approximately 155,000 COVID patients were hospitalized in the United States.
In addition to this, the growth of thermal printhead market is expected to grow on the back of growing trends in digital or cashless payments. Digital payments and real time payments have prompted people to make transactions by scanning QR codes. These codes contain the bank details and are carefully printed by thermal printers for a clearer image. For instance, in the US alone, around 11 million households scanned QR code in 2020. Retailers in the UK distribute approximately 11 billion receipts annually. Additionally, a paper receipt is preferred by nearly seven out of ten Americans.
The growth of the market can be attributed to the increasing number of hospital visits and the increasing number of hospitals. Thermal printheads are used to print patient wristbands, hospital equipment labels, medications, etc. Japan had about 8,000 hospitals in 2020. Meanwhile, the United States had nearly 8,000 hospitals, followed by South Korea with about 4,100. In addition, the number of patients coming to the hospital also increased significantly due to Covid-19. As of January 2022, approximately 155,000 COVID patients were hospitalized in the United States.
In addition to this, the growth of thermal printhead market is expected to grow on the back of growing trends in digital or cashless payments. Digital payments and real time payments have prompted people to make transactions by scanning QR codes. These codes contain the bank details and are carefully printed by thermal printers for a clearer image. For instance, in the US alone, around 11 million households scanned QR code in 2020. Retailers in the UK distribute approximately 11 billion receipts annually. Additionally, a paper receipt is preferred by nearly seven out of ten Americans.
