Medical Tricorder Market Size Worth $4,902.6 Million By 2027 | CAGR: 6.6% : Polaris Market Research

NEW YORK, Dec. 7, 2020 /PRNewswire/ -- According to the new market research report the global medical tricorder market is anticipated to reach USD 4,902.6 Million By 2027 with a CAGR of approximately 6.6% from 2020 to 2027. Increasing use of smart medical devices, rising preference for outpatient service, and improvement in healthcare infrastructures are flourishing the global medical tricorder market. Growing demand for advanced technology-driven devices, innovations in technology, a huge patient pool suffering from diabetes, and several adverse effects of existing diagnostic methods are expected to boost the demand for the global market. Furthermore, the demand for medical triode is driven by its increased application among health care providers to enable effective diagnosis of a patient's health condition. Increasing prevalence of cardiovascular diseases in developing and developed countries coupled with major investments from public-private organizations for innovations in monitoring & diagnosis is further fuelling the growth of the global market.

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Key Takeaways for Global Medical Tricorder Market:

• The diagnosis application segment is projected to have a significant market share during the forecast period owing to the rising prevalence of diseases, increasing adoption of diagnostic devices, and rapid advancement in healthcare technologies.
• The hospital segment is expected to grow at a lucrative rate over the forecast period on account of the presence of a large patient pool, patient's preference for hospitals, and beneficial reimbursement policies.
• The recent outbreak of the COVID-19 pandemic across the globe has led to an increase in demand for medical tricorder for monitoring and diagnosis of patient's medical condition to prevent the spread of infectious coronavirus and provide optimum care to the patient.
• Researchers from the University of Glasgow developed a multicorder to enable rapid medical diagnostics easily accessible to people around the globe. The multicorder development is primarily inspired by Star Trek's popular tricorder device and comes with a pair of handheld sensors to be used with a Smartphone app.

Competitive Insight:

Some of the major players operating in the global market include Basler AG, Cloud DX, QuantuMDx Group Ltd., Hamamatsu Photonics K.K., Ibis Biosciences, Ionis Pharmaceutical, Scanadu, Basil Leaf Technologies, Qualcomm Technologies, Inc., Fujikura Ltd., and Welfo Fiber Optics are some of the key players operating in the global medical tricorder market.  Market players working in the global market are involved in several strategic moves such as acquisitions, mergers, and collaborations to increase their capabilities and boost the market position.

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Regional Insight & Trend Analysis:

Extensive adoption of medical tricorder across North America is creating a huge demand for the regional market. Additionally, a tremendous rise in the patient pool and high disposable income are supporting regional growth. Moreover, an increase in the cases of diabetes is one of the major factors responsible for the surge in the demand for medical tricorder across the region. The European market is also growing at a faster rate owing to the increasing emphasis on early diagnosis of diseases, extensive research in advanced product development, and growing awareness for the use of tricorder. Growing geriatric population and favorable government initiatives in the Asia Pacific is expected to propel the regional demand.

Target Audience

• Supply Side: Medical Tricorder Manufacturers and Suppliers
• Demand Side: Hospitals, Clinics, Nursing Homes
• Regulatory Side: World Health Organization (WHO)
• Associations and Industry Bodies: Food and Drug Associate (FDA)

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Polaris Market Research Has Segmented the Medical Tricorder Market Report On The Basis of Type, Application, End-Use, and Region

Medical Tricorder Type Outlook (Revenue – USD Million, 2016 – 2027)

• USB Camera
• Fiber Optic Camera
• Wireless
• Corded
• Others

Medical Tricorder Application Outlook (Revenue – USD Million, 2016 – 2027)

• Diagnosis
• Monitoring

Medical Tricorder End-Use Outlook (Revenue – USD Million, 2016 – 2027)

• Hospital
• Clinics
• Pharmaceutical Companies

Medical Tricorder Regional Outlook (Revenue – USD Million, 2016 – 2027)

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• MEA (Saudi Arabia, UAE, Israel, South Africa)

List of Key Players of Medical Tricorder At:

• QuantuMDx Group Ltd.
• Ibis Biosciences
• Ionis Pharmaceutical
• Cloud DX
• Qualcomm Technologies, Inc.
• Basil Leaf Technologies, LLC
• Welfo Fiber Optics
• Fujikura Ltd.
• Basler AG
• Hamamatsu Photonics K.K.

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SOURCE Polaris Market Research