Stethoscope Market Research Report: by Type (Manual Stethoscope (Fetal Stethoscope), Electronic Stethoscope (Esophageal Stethoscopes, Fetal Heart Rate Detectors), and End User (Hospitals, Clinics, Ambulatory Surgical Centers) – Forecast till 2024
Stethoscope Market Synopsis:
The increasing demand for healthcare services is likely to lead to a drastic increase in demand for medical devices and equipment over the next couple of years. As per the assessment offered by Market Research Future (MRFR), the global stethoscope market, valued at USD 332.1 Mn in 2018, is anticipated to scale a CAGR of 4.6% during the forecast period of 2019 to 2024.
Rising prevalence of chronic diseases, in conjunction with increasing patient population, is projected to positively influence the expansion of the global stethoscope market in the years to come. In addition, the increasing number of skilled professionals is anticipated to fuel the demand for stethoscopes all over the world.
Technological advancements are prognosticated to dictate the expansion of the stethoscope market in the foreseeable future. Healthcare sector signifies the need for accurate and efficient equipment for monitoring and diagnosis. Integration of digitalization with medical equipment is likely to work in favor of the stethoscope market. The introduction of digital stethoscopes has revolutionized the growth trajectory and is projected to gain further traction of the market in the upcoming years.
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The advent of new technologies such as sensor, Artificial Intelligence, etc. is expected to play a crucial role in the development of the stethoscope market in the nearby future. However, on the contrary, limited access to healthcare services in the poor economies is poised to check the expansion of the market in the upcoming years.
Stethoscope Market Competitive Dashboard:
The important participants of the stethoscope market profiled in this MRFR report are
- A&D Medical
- American Diagnostic Corporation
- GF Health Products
- Heine Optotechnik
- Medline Industries
- McCoy Medical
- Omron Corporation
- Smith’s Medical
- Rudolf Riester
- Welch Allyn
Stethoscope Market Segmentation:
The global stethoscope market, by type, has been bifurcated into manual stethoscope and electronic stethoscope. The manual stethoscope segment has been further sub-divided into fetal stethoscope and others. The electronic stethoscope segment is sub-segmented into fetal heart rate detectors, esophageal stethoscopes, and others.
By end user, the stethoscope market has been segmented into clinics, hospitals, ambulatory surgical centers, and others.
By region, the global stethoscope market has been segmented into four major regions, viz. Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Americas is expected to hold the dominant share of the global market in the upcoming years. Led by the U.S., North America is anticipated to play a crucial role in the development of the regional stethoscope market over the next few years. The developments in the healthcare sector, in conjunction with the rising demand for medical services, is projected to drive the expansion of the regional market over the review period.
Asia Pacific, on the other hand, has been prognosticated to strike a relatively higher CAGR owing to the rapid developments being observed in the healthcare industry of the region. The growth of medical tourism in the region, coupled with the adoption of advanced technologies, is projected to influence the growth trajectory of the regional market positively.
Stethoscope Industry News:
In May 2019, Concierge Telemedicine system (CTM) has been launched in the European Union (EU). The basic CTM exam kit includes PCP-USB telemedicine stethoscope and other equipment.
In November 2018, Steth IO, manufacturer of smartphone stethoscope, has announced the launch of an AI assistant for the detection of heart diseases.
In October 2018, a team of researchers at the University of Rochester Medical Center (URMC) and the Rochester Institute of Technology (RIT) have developed a digital stethoscope which is designed to monitor implanted heart pumps. The equipment includes a microphone and ECG leads.
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