Medical tricorder market to hit $6.3b by 2032

Chronic diseases are a major factor contributing to this growth.

The medical tricorder market is expected to grow to $6.3 billion by 2032, with a compound annual growth rate of 6.1% from 2024 to 2032, according to Global Market Insights Inc.

In a statement, the company said this growth is driven by the increasing prevalence of chronic diseases like diabetes, cardiovascular conditions, and respiratory disorders, as well as advancements in sensor technologies, and an increasing focus on preventive care.

“Medical tricorders, with their non-invasive monitoring capabilities, lessen the frequency of hospital visits,” Global Market Insights said.

Per technology segment, sensors and biosensors segment, valued at $2.4b in 2023, accounted for a significant market share. Application-wise, the monitoring segment dominated the market, projecting revenues of approximately $4.6b by 2032.