Stethoscope Market, By Product Type (Dual Head Stethoscope, Single Head Stethoscope, and Triple Head Stethoscope), By Application (Human and Veterinary), By End Users (Hospitals, Clinics, Academic & Institutes, Home
Stethoscope is the acoustic medical device utilized for physical examination based on auscultation of humans or an animal. A resonator placed under the tiny disc in one end augments the sound of heart, esophagus, lungs, or heart rate of a fetus. Stethoscope is the fundamental aspect of the physical examination of healthcare professional. Key factors such as increasing prevalence of cardiovascular diseases, increasing healthcare professionals, along with enhancing healthcare facilities are expected to drive growth of the global stethoscope market. Furthermore, market companies are launching more user-friendly advanced technology products having wireless digital stethoscope or Bluetooth connectivity, which is in turn expected to drive growth of the global stethoscope market over the forecast period.
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Stethoscope Market Drivers
Increasing launches of products by key companies having advanced technologies is expected to drive the global stethoscope market growth over the forecast period. For instance, a research group, in March 2018, developed a clinically validated, open-source, template for the 3D printed stethoscope in areas of application that have lack of access to the medical supplies. Furthermore, Steth IO, in April 2018, introduced a digital stethoscope termed Steth IO. This product is directly built into an iphone’s protective case of the physician. It functions on an application which enables visualization of lung or heart sounds straight on the screen of phone, if held against chest of the patient. Furthermore, it allows physician for storing the records within the application, which could be shared for a 2nd opinion. The Steth IO received approval from the U.S Food and Drug Administration (FDA) in 2016. Eko in 2015, received clearance from the U.S. FDA for launching Eko Core, the next-generation digital stethoscope.
Furthermore, M3DICINE Inc., a developer of smart medical devices, in January 2018, introuced Stethee, a first system of Artificially Intelligent (AI)-enabled stethoscope. This Stethee system consists of three products, the Stethee Pro for the healthcare and medical professionals, the Stethee Vet for animal professionals and veterinarians, and the Stethee Edu designed as a research and educational tool. All such launches of product are advanced technology versions of the conventional stethoscope which is expected to rise the preference of the users.
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High prevalence of cardiovascular diseases is a factor expected to drive the global stethoscope market growth over the forecast period. Stethoscope is a vital component that helps clinicians to diagnose cardiovascular disease, affecting 1 among 4 individuals in the U.S., as per the Centers for Disease Control and Prevention (CDC). In 2018, as per the American Heart Association, heart diseases are the leading cause resulting in death, worldwide. Moreover, according to the same source, daily 2,300 the U.S. individuals die from cardiovascular disease, meaning averagely 1 death every 38 seconds. Furthermore, rising geriatric population, which is more susceptible to diseases, rising frequent diagnosis demands for various medical conditions, in turn expected to drive the global stethoscope market growth over the forecast period. For instance, geriatric populace globally is expected to be over 962 Mn, comprising 13% of entire global populace, in 2017 according to the United Nations (UN). As per their forecast, the global geriatric population is expected to reach over 1.4 Bn in 2030 while 2.1 Bn in 2050.
Stethoscope Market – Regional Analysis
Based on region, the global stethoscope market is segregated into North America, Europe, Latin America, Middle East, Africa and Asia Pacific. North America accounts for a dominant share in the global stethoscope market, due to the rising number of novel product launches from key companies in the U.S., North America, followed by the Europe, owing to the rising number of clinics, hospitals along with medical professionals. For instance, as per the Eurostat, over 1.8 Mn physicians are operating in the European Union, where the comparison among 2005 and 2015 stated that number of doctors graduating / 100,000 inhabitants surged to 12.4 doctors within 2015 in comparison with 2005 (9.5 doctors /100,00 inhabitants).
Reasons to Purchase this Report
Current and future of global Stethoscope market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
Regions/countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
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Stethoscope Market – Competitive Lanscape
Major players functioning in the stethoscope market including 3M Company, Heine Optotechnik GmbH & Co. KG, Cardionics, Inc., American Diagnostics Corp, Welch Allyn, Inc., Medline Industries, Inc., GF Health Products, Inc., Rudolf Riester GmbH, and others.
Stethoscope Market Taxonomy
Based on Product Type
- Single Head Stethoscope
- Dual Head Stethoscope
- Triple Head Stethoscope
Based on Application
Based on End Users
- Homecare settings
- Academic & Institutes
Based on Region
- North America
- Latin America
- Middle East
- Asia Pacific
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Major Point Answered in Stethoscope Market Research Study are:
What will be the progress rate of the Stethoscope Market for the conjecture period, 2020-2027?
What are the prominent factors driving the Stethoscope Market across different regions?
Who are the major vendors dominating the Stethoscope industry and what are their winning strategies?
What will be the market scope for the estimated period?
What are the major trends shaping the expansion of the industry in the coming years?
What are the challenges faced by the Stethoscope Market?
Actual Numbers & In-Depth Analysis, Business opportunities, Market Size Estimation Available in Full Report.
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