Global Medical Tricorder Market By Application (Monitoring, Diagnosis, Others) By End Use (Hospitals, Ambulatory Surgical Centers, Others) By Region, Industry Analysis and Forecast, 2020 - 2026
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A medical tricorder is a portable medical equipment used for the scanning and diagnosis of specific medical disorders by self. The medical tricorder market worldwide is anticipated to experience a high growth during the forecast period i.e. 2020 to 2026 due to the continuous rise in serious ailments such as diabetes, cardiovascular diseases. The growth in the market is also attributable to the regular rise in awareness among the patient population. In addition, the increase in avenues for technological advancements, rising inclination for outpatient related services and growth in R&D expenditures by the market players is further fuelling the market growth.
Based on the application, the market is segmented into monitoring, diagnosis, and others in Medical tricorder market report. The Monitoring segment is expected to experience the fastest growth rate owing to the risks associated with the lifestyle disorders and rising awareness among the patient population. The diagnosis market segment is forecasted to register the highest share due to the rising prevalence of diseases and technological advancements leading to increasing adoption of devices.
Based on the segmentation by end use, the medical tricorder market report bifurcates the market into hospitals & ambulatory surgical centres and others. The hospital market segment is expected to rise at a attractive growth rate during the forecast period i.e. 2020-2026 due to the existence of large population of patients worldwide and easy access to the hospitals. In addition, the availability of favourable healthcare reimbursement policies is anticipated to propel the market growth in major demand geographies. The ambulatory surgical centres are experiencing increase in demand as a result of growing demand for outpatient services.
Based on the geographies, the basis of region, the medical tricorder market analysis is segmented into North America, Europe, Asia Pacific, LAMEA (Latin America, Middle East and Africa). The North America region registered the highest market share followed by the Europe region owing to the conducive favourable reimbursement policies and steady increase in healthcare expenditure. Moreover, increase in disposable income along with technologically progressive infrastructure is fuelling the market growth in these geographies.
Asia-Pacific is expected to grow at a notable growth rate in the market during the forecast period owing to the factors including the potential opportunities within the geography, initiatives being taken by the governments in respective countries and rise in awareness among patients.
The market research report covers the analysis of key stake holders of the market. Key companies in the market includes QuantuMDx Group Ltd. (UK), Scanadu (US), Ibis Biosciences (U.S.) and others.
The key market participants are continuously striving to gain the market share and are deploying various strategies such as product launches, collaboration, expansions and merger & acquisitions aiming to have hold on the competition.
Scope of the Medical Tricoder Market Analysis
- Diagnosis, and
- Hospitals & ambulatory surgical centres and
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
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