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Medical Tricorder Global Market Report 2021: COVID-19 Implications And Growth

Medical Tricorder Global Market Report 2021: COVID-19 Implications And Growth

  • October 2021
  • 175 pages
  • ID: 6173901
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the medical tricorder market are QuantuMDx, Cloud DX, Qualcomm Technologies, Basil Leaf Technologies, Healthy.io Ltd., Ionis Pharmaceutical, Fujikura, Basler, and Hamamatsu Photonics.

The global medical tricorder market is expected to grow from $3.33 billion in 2020 to $3.76 billion in 2021 at a compound annual growth rate (CAGR) of 12.7%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $5.34 billion in 2025 at a CAGR of 9.2%.

The medical tricorder market consists of sales of medical tricorder devices by entities (organizations, sole traders, and partnerships) that come with a detachable, high-resolution hand-held scanner that transmits vital signs data to the tricorder. A medical tricorder is a handheld scanning gadget that enables users to diagnose medical problems and collect basic vital signs in seconds.

The main types of the medical tricorder are USB camera, fiber optics camera, wireless, corded, others.USB camera is a type of medical tricorder that allows users to record high-quality video with a fiberscope camera.

The applications of medical tricorder include diagnosis, monitoring, others and are used in various sectors such as hospitals, clinics, and others.

North America was the largest region in the medical tricorder market in 2020.Europe was the second-largest market in the medical tricorder market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The growing technological advancement is a key trend gaining popularity in the medical tricorder market.Major companies operating in the medical tricorder market focused on developing technological solutions for medical tricorder devices to strengthen their position.

For instance, in May 2020, Apple, a US-based technology company has bought the medical tricorder closer to reality by using AR technology through Butterfly Network, a US-based digital health company.Pregnancies, possibly fractured bones, and even lung diseases are the features of the Butterfly Network.

Doctors are currently using the technology to screen for evidence of COVID-19-related lung damage remotely.

In June 2020, Healthy.io, an Israel-based developer of smartphone urinalysis tech, has acquired Inui Health for $9 million. The acquisition of Inui Health supports Healthy.io to enter into the US market. The company also aims to move into pregnancy monitoring to detect possible complications. Inui Health, formerly known as Scanadu is a US-based medical diagnostics company that offers medical tricorders.

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.

According to the Physician’s Academy for Cardiovascular Education, in 2019, 523 million cardiovascular cases were registered globally. Moreover, according to the World Health Organization (WHO), in 2019 around 17.9 million or 32% of all global deaths are due to cardiovascular diseases.

The countries covered in the medical tricorder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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