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Medical Tricorder Market Report 2024: Strategies And Recent Developments | QuantuMDx Group Ltd., Cloud DX Inc., Qualcomm Technologies Inc., Basil Leaf Technologies LLC., Healthy.io Ltd
Medical Tricorder Market Size
The Business Research Company offers in-depth market insights through Medical Tricorder Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
The main types of medical tricorders are USB cameras, fiber optics cameras, wireless, corded, and 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, and others and are used in various sectors such as hospitals, clinics, and others.
Major Driver - Rising Chronic Illnesses Drive Global Medical Tricorder Market Growth
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.
Competitive Landscape:
Major companies operating in the medical tricorder market include QuantuMDx Group Ltd., Cloud DX Inc., Qualcomm Technologies Inc., Basil Leaf Technologies LLC., Healthy.io Ltd., Onis Pharmaceutical Inc., Fujikura Ltd., Basler AG, Hamamatsu Photonics K.K., Scanadu Inc., Ibis Bioscience Inc., Welfo Fiber Optics, Medipense Inc., Aidar Health Inc., Roftek Ltd., SM Scientific Instruments Pvt. Ltd., KUGEL medical GmbH & Co. KG, Thermo Fisher Scientific Inc., LEEC Limited, Mortech Manufacturing Company Inc., HYGECO LEAR LIMITED, Mopec Mortuary Lift Company, SensoDX II LLC, Accurable Ltd., Care Taker Medical LLC, ChroniSense Medical Ltd., Cardiomo Inc., VitalConnect Inc., Avidhrt Inc., Creative Industry Co. Ltd., Final Frontier Medical Devices Inc., DMI Medical Supply Co. Inc., Echelon Biosciences Inc.
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Top Trend - New Approval To Provide Remote Monitoring Solution
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Medical Tricorder Market Characteristics
3. Medical Tricorder Market Trends And Strategies
4. Medical Tricorder Market - Macro Economic Scenario
5. Medical Tricorder Market Size And Growth
…..
27. Medical Tricorder Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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