The global medical tricorder market size reached USD 3.07 Billion in 2020 and is expected to register a revenue CAGR of 6.8%, during the forecast period, according to latest analysis by Emergen Research. Rising incidence of chronic diseases, as well as COVID-19 pandemic, are propelling global medical tricorder market revenue growth forward. Increasing private investments for development of advanced medical equipment that is quite similar to medical tricorders is also expected to propel revenue growth of the market between 2021 and 2028.
Need for outpatient treatment and monitoring has increased significantly following the outbreak of COVID-19. Self-diagnosing equipment has become more popular as people are becoming more aware regarding them. Non-emergency hospital appointments, such as routine checkups and unnecessary treatments, have been rescheduled. Government regulators have also promoted medical tricorder device business in order to minimize flow of patients to hospitals and offer additional bed facilities for COVID-19 patients.
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Competitive Terrain:
The Global Medical Tricorder Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
Some major companies in the market include QuantuMDx Group Ltd, Scanadu Inc., Cloud DX Inc., Basil Leaf Technologies, LLC, Fujikura Ltd., Basler AG, Qualcomm Technologies, Inc., Ibis Biosciences, Inc., Aidar Health, Inc., and Shenzhen Creative Industry Co., Ltd.
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Key Highlights in the Report
Monitoring segment revenue is expected to expand at a significantly rapid CAGR during the forecast period as patients are becoming more aware regarding hazards related to their lifestyles
Ambulatory surgical centers segment is expected to register a significantly robust revenue growth rate over the forecast period due to high demand for outpatient treatments. In addition, cost-effective services and shorter staying times are some of the factors driving growth of the segment.
North America is expected to account for a larger revenue share than other regional markets over the forecast period. Market growth in North America is driven by an increase in patient pool and need for advanced technologies for diagnosing patient\’s health conditions.
The report further divides the Medical Tricorder market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Medical Tricorder market.
Emergen Research has segmented the global medical tricorder on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Fiber Optic Camera
USB Camera
Corded
Wireless
Others
Application Outlook (Revenue, USD Billion; 2018–2028)
Monitoring
Diagnosis
Others
End-Use Outlook (Revenue, USD Billion; 2018–2028)
Ambulatory Surgery Centers
Hospitals
Others
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Medical Tricorder Market Segmentation by Regions:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Benefits of Buying the Global Medical Tricorder Market Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Medical Tricorder Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Medical Tricorder Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Medical Tricorder Market
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