Medical Tricorder Market Grow To $13.32 Billion In 2028 At A CAGR Of 17.9%.

The Business Research Company presents an extensive market research report on the ""Medical Tricorder Global Market Report 2024,"" furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Medical Tricorder industry. This report on Medical Tricorder market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

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.

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Key Market Players:

QuantuMDx Group Ltd., Cloud DX Inc., Qualcomm Technologies Inc., Basil Leaf Technologies LLC., Healthy.io Ltd., Onis Pharmaceutical Inc., Fujikura Ltd.

Market Drivers:

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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Market segments for Medical Tricorder include:

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

The report answers the following questions:

What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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