According to the research report titled ‘Global Medical Tricorder Market Size study, by Type (USB Camera, Fiber Optic Camera, Wireless, Corded), by Application (Diagnosis, Monitoring), by End-Use (Hospitals, Ambulatory Surgical Center, Others) and Regional Forecasts 2020-2027’ available with Market Study Report, global medical tricorder market was valued at USD 3.4 billion in the year 2019 and is projected to register a robust CAGR of around 11% over 2020-2027.
 

As per the report, increasing investments towards advancement of healthcare diagnosis & monitoring coupled with high occurrences of diabetes and heart diseases in emerging nations are key factors driving the growth of global medical tricorder market.
 

For the record, medical tricorder is a handheld portable scanning instrument used by patients for self-diagnosis as well as to take vital measurements such as heart rate and body temperature within seconds, without the need for professional medical examinations.
 

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The instrument has a high-resolution, removable scanner and is capable of monitoring health conditions, provide health related statistical information, diagnose diseases, and test general human physiology as well as the functioning of vital organs. These advanced and innovative features are further aiding the popularity of medical tricorders across the globe, thereby fueling the market growth.
 

Furthermore, the emergence of the COVID-19 pandemic enhanced the demand for medical tricorders due to the patient preference towards carrying out diagnosis at home and avoiding hospital visits to prevent contracting the disease, which in turn is augmenting the expansion of the market. However, high costs pertaining to the research and development of the instrument is projected to hamper the market growth over the forecast period.
 

Based on the type, global medical tricorder market is split into corded, wireless, fiber optic camera, and USB camera. With regards to the application spectrum, the market is segmented into monitoring and diagnosis. The end-user landscape of the market includes ambulatory surgical centers, hospitals and others.
 

Regionally, North America medical tricorder market accounts for a majority of the market share and is expected to showcase similar growth in the ensuing years, primarily due to high concentration of technology-based vendors and rising healthcare expenditure.
 

According to industry experts, Asia-Pacific medical tricorder market is projected to register a robust CAGR through 2027. Improving healthcare sector along with increasing occurrences of diabetes and heart diseases are augmenting the demand for medical tricorders in Asia-Pacific.
 

The major companies that define the competitive landscape of global medical tricorder market are Basler AG, Fujikura Ltd., Welfo Fiber Optics, Basil Leaf Technologies, Qualcomm Technologies, Inc., Cloud DX Inc., Ionis Pharmaceuticals, Inc., Ibis Biosciences, Inc., QuantuMDx Group Limited, and Scanadu among others.