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Medical Tricorder Market Size, Future Business Trends, Upcoming Demand, Innovations and Regional Outlook and Forecast 2022-2031

Kenneth Research has recently added a report titled Medical Tricorder Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Medical Tricorder Market products.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Medical Tricorder Market is valued at approximately USD 3.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11% over the forecast period 2020-2027. Medical tricorder is a type a portable handheld scanning device used by the patient to self-diagnose the medical conditions without invasive tests. The medical tricorder has a removable, high-resolution, hand-held scanner and tests the function of vital organs of the body and human physiology. It also delivers vital measurements, such as body temperature, heart rate within a second. Further, these devices can diagnose diseases, provide ongoing personal health metrics, monitor ongoing health, and summarizes an individual’s health status. Therefore, these factors are anticipated to accelerate market growth around the world. Moreover, the recent outbreak of the COVID-19 pandemic around the world has led to a rise in demand for medical tricorder in identifying or monitoring and diagnosis of the patient’s therapeutic condition to prevent or mitigate the spread of novel coronavirus, as well as provide optimum care to the patient.

This is likely to accelerate the usage of medical tricorder thereby, the market would grow at a significant rate in the forthcoming years. Furthermore, the increasing prevalence of diabetes and cardiovascular diseases in the developed & developing countries, along with the rapidly growing investment in the innovations associated with monitoring & diagnosis are few other factors responsible for the market growth over the forecast period. For instance, according to the International Diabetic Federation (IDF), globally, the number of adults aged between 20-79 years suffering from diabetes was about 463 million in 2019, and this estimation is projected to grow to almost 700 million by 2045. This, in turn, is expected to accelerate the demand for Medical Tricorder around the world. However, the high cost related to the research & development and devices is one of the major factors impeding the market growth over the forecast period of 2020-2027.

The regional analysis of the global Medical Tricorder market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing healthcare expenditure, along with the concentration of new technology-based device vendors in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rapidly growing prevalence of chronic diseases, such as diabetes and cardiovascular disease, along with the improving healthcare infrastructure would create lucrative growth prospects for the Medical Tricorder market across the Asia-Pacific region.

Major market player included in this report are:
Scanadu
QuantuMDx Group Ltd.
Ibis Biosciences, Inc
Ionis Pharmaceuticals
Cloud DX Inc.
Qualcomm Technologies, Inc.
Basil Leaf Technologies
Welfo Fiber Optics
Fujikura Ltd.
Basler AG

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:

By Type
USB Camera
Fiber Optic Camera
Wireless
Corded

By Application:
Diagnosis
Monitoring

By End-Use:
Hospitals
Ambulatory Surgical Center
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Medical Tricorder Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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