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Medical Tricorder Market Report: Size, Share, Growth, Trends And Forecast Up To 2033
Medical Tricorder Market Report
The medical tricorder market size is expected to see rapid growth in the next few years. It will grow to $13.32 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to personalized healthcare, global health initiatives, aging population, environmental health, healthcare workforce efficiency. Major trends in the forecast period include artificial intelligence (ai) and machine learning, internet of things (iot) integration, wearable health tech, consumer health devices, health data security.
Market Overview -
A medical tricorder is a handheld scanning gadget that enables users to diagnose medical problems and collect basic vital signs in seconds.
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Rising Chronic Illnesses Drive Global Medical Tricorder Market Growth
The increase in the number of chronic illnesses such as cardiovascular diseases and diabetes is contributing to the growth of the medical tricorder market. Chronic diseases are illnesses that endure for a year or longer and require ongoing medical care, interfere with daily activities, or both. Chronic diseases such as cardiovascular disease, cancer, and diabetes are among the world's top causes of mortality and disability. Medical tricorders are used to diagnose and detect diabetes, cardiovascular diseases, and other chronic illnesses. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Thus, an increase in the number of chronic illnesses such as cardiovascular diseases and diabetes is driving the growth of the medical tricorder market.
Competitive Landscape -
Major companies operating in the medical tricorder market include QuantuMDx Group Ltd., Cloud DX Inc., Qualcomm Technologies Inc., Basil Leaf Technologies LLC., Healthy.io Ltd., Onis Pharmaceutical Inc., Fujikura Ltd., Basler AG, Hamamatsu Photonics K.K., Scanadu Inc., Ibis Bioscience Inc., Welfo Fiber Optics, Medipense Inc., Aidar Health Inc., Roftek Ltd., SM Scientific Instruments Pvt. Ltd., KUGEL medical GmbH & Co. KG, Thermo Fisher Scientific Inc., LEEC Limited, Mortech Manufacturing Company Inc., HYGECO LEAR LIMITED, Mopec Mortuary Lift Company, SensoDX II LLC, Accurable Ltd., Care Taker Medical LLC, ChroniSense Medical Ltd., Cardiomo Inc., VitalConnect Inc., Avidhrt Inc., Creative Industry Co. Ltd., Final Frontier Medical Devices Inc., DMI Medical Supply Co. Inc., Echelon Biosciences Inc.
New Approval To Provide Remote Monitoring Solution
Major companies operating in the medical tricorder market are gaining new approval such as the MouthLab to provide remote monitoring solutions. MouthLab is a hand-held device that measures 10 vital health parameters in just 60 seconds. For instance, in March 2021, Aidar Health, Inc, a US-based healthcare technology and digital medicine company secured FDA Class II 510(k) clearance for MouthLab, a hand-held device that rapidly measures 10 vital health parameters in a minute. Developed in collaboration with the Johns Hopkins Medical Institute, MouthLab provides a comprehensive health assessment and produces a unique 'biosignature'. The device aims to alleviate pressure on healthcare systems by facilitating at-home screenings, thus diverting unnecessary hospital visits. When combined with telemedicine, the data helps clinicians allocate resources effectively. MouthLab can also track vital signs and other data to assist in the shift from standardized to personalized healthcare. The company plans to integrate MouthLab into various health data systems and expand its range of innovative sensors and analytics capabilities.
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Key Segments -
The medical tricorder market covered in this report is segmented -
1) By Type: USB Camera, Fiber Optic Camera, Wireless, Corded, Other Types
2) By Application: Diagnosis, Monitoring, Other Applications
3) By End User: Hospitals, Clinics, Other End-users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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