According to a new report, published by KBV research, The Global Medical Tricorder Market size is expected to reach $7.7 billion by 2030, rising at a market growth of 9.1% CAGR during the forecast period.
The Monitoring segment would display a CAGR of 9.6% during (2023 - 2030). The emergence of remote patient monitoring and telemedicine has primarily driven the monitoring segment. With medical tricorders, medical personnel may monitor patients' conditions from a distance, cutting down on in-person visits and facilitating early action. As chronic diseases become increasingly prevalent, medical tricorders have become valuable tools for monitoring patients with diabetes, hypertension, and cardiovascular diseases.
The Wireless segment is leading the Global Medical Tricorder Market, by Type in 2022 thereby achieving a market value of $3.1 billion by 2030. Physicians and healthcare providers can remotely monitor patients' vital signs and health parameters without requiring them to be present in a medical facility. Immediate transmission of data to healthcare professionals allows for prompt analysis and decision-making, enhancing the speed and accuracy of diagnoses and treatment. Wireless medical tricorders offer increased mobility and ease of use for both healthcare professionals and patients, facilitating healthcare in various settings beyond traditional hospitals or clinics. These factors are expected to boost the demand in the segment.
The Clinics segment is showcasing a CAGR of 9.5% during (2023 - 2030). Tricorders can potentially reduce operational costs in clinics by minimizing the need for multiple diagnostic devices or referring patients to specialized facilities for certain tests. This results in resource optimization and cost savings for the clinic. Quick and accurate diagnostic procedures with tricorders enhance the overall patient experience. Patients spend less time waiting for results and can receive immediate preliminary assessments, leading to better patient satisfaction. Therefore, the segment will grow rapidly in the coming years.
The North America region dominated the Global Medical Tricorder Market, by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.6 billion by 2030. The Europe market is anticipated to grow at a CAGR of 8.8% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 10% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/medical-tricorder-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Healthy.io Ltd., Ionis Pharmaceuticals, Inc., Fujikura Ltd., Basler AG, Qualcomm, Inc., Hamamatsu Photonics K.K., Basil Leaf Technologies, DynoSense Corp, Cloud DX Inc., and QuantuMDx Group Limited.
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