LONDON, Sept. 28, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the medical tricorder market, growing technological advancement is a key trend gaining popularity in the medical tricorder industry. 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 some features of the Butterfly Network. Doctors are currently using the technology to screen for evidence of COVID-19-related lung damage remotely.
The global medical tricorder market size is expected to grow from $3.33 billion in 2020 to $3.76 billion in 2023 at a compound annual growth rate (CAGR) of 12.7%. The change in growth trend in the medical tricorder market 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 medical tricorder market is expected to reach $5.34 billion in 2025 at a CAGR of 9.2%.
North America is the largest region in the medical tricorder market. Europe accounts for the second-largest share in the market. The regions covered in TBRC’s medical tricorder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Business Research Company’s report titled Medical Tricorder Global Market Report 2023 – By Type (USB Camera, Fiber Optic Camera, Wireless, Corded), By Application (Diagnosis, Monitoring), By End User (Hospitals, Clinics), COVID-19 Implications And Growth covers major medical tricorder companies, medical tricorder market share by company, medical tricorder manufacturers, medical tricorder market size, and medical tricorder market forecasts. The report also covers the global medical tricorder market and its segments.
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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. A 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.
In June 2020, Healthy.io, an Israel-based developer of smartphone urinalysis tech, 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.
Major players in the medical tricorder industry are QuantuMDx, Cloud DX, Qualcomm Technologies, Basil Leaf Technologies, Healthy.io Ltd., Ionis Pharmaceutical, Fujikura, Basler, and Hamamatsu Photonics.
Medical Tricorder Global Market Report 2023 – COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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