Minimally-invasive image-guided procedures become increasingly used by physicians to obtain real-time characterization feedback from the tissue at the tip of their interventional device (needle, catheter, endoscopic or laparoscopic probes, etc…) which can significantly improve the outcome of diagnosis and treatment, and ultimately reduce cost of the medical treatment. Spectral tissue sensing using compact photonic probes has the potential to be a valuable tool for screening and diagnostic purposes, e.g. for discriminating between healthy and tumorous tissue. However, this technique requires a low-cost broadband miniature spectrometer so that it is commercially viable for screening at point-of-care locations such as physicians’ offices and outpatient centers. Our goal is therefore to develop a miniaturized spectrometer based on diffractive optics that combines the functionalities of a visible/near-infrared (VIS/NIR) and shortwave-infrared (SWIR) spectrometer in one very compact housing. A second goal is that the hardware can be produced in high volume at low cost without expensive time consuming alignment and calibration steps. We have designed a miniaturized spectrometer which operates both in the visible/near-infrared and shortwave-infrared wavelength regions ranging from 400 nm to 1700 nm. The visible/near-infrared part of the spectrometer is designed for wavelengths from 400 nm to 800 nm whereas the shortwave-infrared segment ranges from 850 nm to 1700 nm. The spectrometer has a resolution of 6 nm in the visible/near-infrared wavelength region and 10 nm in the shortwave-infrared. The minimum SNR of the spectrometer for the intended application is about 151 in the VIS/NIR range and 6000 for SWIR. In this paper, the modelling and design, and power budget analysis of the miniaturized spectrometer are presented. Our work opens a door for future affordable micro- spectrometers which can be integrated with smartphones and tablets, and used for point-of-care applications. As next steps in the development, we will manufacture the different optical components and experimentally characterize the spectrometer device in more detail.