Market Trends of Global Medical Tricorder Device Industry
This section covers the major market trends shaping the Medical Tricorder Device Market according to our research experts:
Medical Tricorder Devices for Diagnosis Segment is Expected to Dominate the Market Over the Forecast Period
Medical Tricorder Devices are those portable medical devices that can analyze multiple physiological parameters within a very short period and can yield diagnosis while alerting healthcare practitioners for support needed. Medical Tricorder for self-diagnosis is becoming an essential device that can be used at home for monitoring vitals in patients suffering from chronic diseases. These can be used for pediatric or elderly patients without compromising on their comfort.
The diagnostic medical tricorder devices market has been fueled up with the pandemic hitten and is widely used among both healthcare practitioners and the general public. Additionally, the feature that medical tricorder devices can be accessed at home easily, benefits the clinicians in providing outpatient services. With vigorous Research and Development and innovative approach, healthcare has been facilitated with technically advanced devices. Further, International Diabetes Federation(IDF) Diabetes Atlas 2019 reports, that there are about 50.1% of people in the world with undiagnosed diabetes. Therefore, to provide health facilities with the rising burden of chronic disease in the world, diagnosis becomes crucial and the demand for medical tricorder devices is expected to increase in the future.
North America is Expected to Dominate the Market Over the Forecast Period
North America, with the United States and Canada, is the major market for technologically advanced healthcare products in the world. The sedentary lifestyle, increasing adoption of technologically advanced solutions in health facilities, rising burden of chronic diseases, and regulatory support making North America a preferable region by industry players.
Moreover, a research article published in the Korean Journal of Family Medicine (KJFM) in November 2020, reported that Americans spent 55% of their waking time in sedentary behavior. A sedentary lifestyle doubles the risk of chronic diseases like hypertension, diabetes, stroke, etc. Further, According to National Centre for Chronic Diseases Prevention and Health Promotion(NCCDPHP) January 2021 Article, In the United States, 6 out 10 adults are suffering from 1 and 4 out of 10 have two or more chronic diseases. To reduce the risk of morbidity due to chronic diseases and the high prevalence of chronic diseases, the growing need for monitoring and diagnostic devices both in hospital and home facilities invites for technologically advanced solutions that can serve purposely and medical tricorder devices are the one. Thus, a large pool of customers and consumers encourages the players to enter in North American Medical Tricorder Market.
