The Medical Tricorder Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Medical Tricorder Global Market Report 2024, The medical tricorder market size has grown rapidly in recent years. It will grow from $5.93 billion in 2023 to $6.9 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to healthcare accessibility, patient empowerment, chronic disease management, telemedicine, point-of-care testing.
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.
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.
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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
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.
The medical tricorder market report table of contents includes:
1. Executive Summar
2. Medical Tricorder Market Characteristics
3. Medical Tricorder Market Trends And Strategies
4. Medical Tricorder Market – Macro Economic Scenario
5. Global Medical Tricorder Market Size and Growth
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26. South America Medical Tricorder Market
27. Brazil Medical Tricorder Market
28. Middle East Medical Tricorder Market
29. Africa Medical Tricorder Market
30. Medical Tricorder Market Competitive Landscape And Company Profiles
Top Major Players:
- QuantuMDx Group Ltd
- Cloud DX Inc
- Qualcomm Technologies Inc
- Basil Leaf Technologies LLC
- Healthy.io Ltd
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