Medical tricorders are a portable miniature scanning device employs the users for the diagnosis of oneself for medical conditions in the next few seconds. Medical tricorders are used for the diagnosis of vital measurements. Although these devices are not used in the global market, various other reports by inventors and scientists work for the creation of various devices and their betterment.
Medical tricorders are used for the diagnosis of various disorders, depict the current metrics of the health status like the pulse rate, sugar level, and also helps for keep track of the health systems, and also elaborates the user’s health and informs if the user is physically fit or not. These devices are very general-purpose gear and have been compared to Swiss Army knives in terms of functionality.
COVID-19 scenario analysis:
To take care of the infected population the demand for medical supplies is increasing. Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With a rise in the number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil populations for precautionary measures. Manufacturers of these products have a chance to capitalize on this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market.
Owing to such factors, COVID 19 is expected to have a significant impact on the Medical Tricoder market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:
Demand for medical tricorders is rising due to upgrades in the technological devices sectors, increasing the use of smart medical devices, and developments made in the healthcare segments are the major factors propelling the growth of the medical tricorder market. These smart devices used for analyzing the glucose levels, pulse rate, and other measurements.
Medical tricorders are availed by various customers to keep track of oneself medical condition. Technological upgrades and development in the healthcare sector, support of the government is increasing through funding for R & D activities and loosening up the regulation policies lifestyle of people changing significantly and lack of parameters analysis required for the current population but not available in the diagnostic methods in the market are affecting the growth of the medical tricorder market positively.
Additionally, there has been a rise in outpatient services of hospitals, increasing cases of cardiovascular diseases, and diabetes.
On the other hand, there are various issues faced by the manufacturers while getting to pass the stringent regulatory policies and rules, which are hampering the product introduction in the medical tricorder market.
It has been reported that the average time required for the devices' approval ranges between 5 to 8 years. Longer approval time for the products, expensive research & development costs of the devices are the major challenges that are hampering the medical tricorder market growth.
New product launches and acquisitions to flourish the market:
On September 12, 2019, CRISPR-Chip introduced a new graphene-based biosensor CRISPR-Cas technology, Genome Sensor, Cardea, Nanosens Merge.
Surge in usage in hospitals and clinics applications:
Hospitals, clinics, and others are the major consumers of the medical tricorders market. Amongst them, hospitals are the biggest end users in the market. There has been growing due to extensive researches for the development of innovative products, acceptance of new and upgraded technologies in the healthcare sectors like hospitals, research institutes, clinics, clinical laboratories, home care settings and diagnostics center.
Key benefits of the report:
- This study presents the analytical depiction of the global Medical Tricorder industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global market share.
- The current market is quantitatively analyzed to highlight the global market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global Medical Tricorder market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Medical Tricorder Market research report:
- What are the leading market players active in the Medical Tricorder market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Medical Tricorder Market Report Highlights
By End User
Key Market Players
Qualcomm Technologies, Inc., Basil Leaf Technologies, LLC, Fujikura Ltd, Welfo Fiber Optics, Ibis Bioscience, QuantuMDx, Cloud DX, Scanadu, Ionis Pharmaceutical, QuantuMDx Group Ltd.