Stethoscope - Market Insights, Competitive Landscape, and Market Forecast - 2030

The global stethoscope market is estimated to grow at a CAGR of 5.3% during the forecast period from 2024 to 2030. The demand for stethoscopes is primarily being boosted by the increasing number of average patient visits to physicians owing to the rising prevalence of chronic diseases such as cardiovascular diseases, respiratory illnesses such as asthma, bronchitis, and lifestyle disorders such as hypertension, diabetes, obesity, and others. Further, the increasing geriatric population, the rising demand for an electronic stethoscope, various product approval & launches, innovation in product development, and others are contributing to the overall growth of the stethoscope market during the forecast period from 2024-2030.

Stethoscope Market Dynamics:

The stethoscope market is witnessing a growth in product demand owing to various factors, one of the key factors is the increasing patient pool suffering from chronic diseases.

For instance, according to World Health Organization (WHO) 2022, the number of adults aged 30-79 years with hypertension has increased from 650 million to 1.28 billion in the last thirty years. Therefore, the increasing cases of hypertension (HTN) in past years need to measure heart & lung sounds and blood pressure in combination with a sphygmomanometer on regular bases to prevent any serious complications. Thus, the increasing cases of hypertension will increase the demand for a stethoscope for regular monitoring.

Further, according to the Centers for Disease Control and Prevention (CDC) 2022, about 697,000 people in the United States (US) died from heart disease in 2020 - that’s 1 in every 5 deaths. From the same source, every year, about 805,000 people in the US have a heart attack. Out of these, 605,000 are a first heart attack and 200,000 happen to people who have already had a heart attack.

In such cases, digital stethoscopes aid in maintaining further complications by detecting multiple cardiac abnormalities. On the other hand, digital stethoscopes can be used by patients at home to detect irregularity in heart pumping. Thus, the increasing number of cases of heart attacks may increase the demand for a stethoscope.

Furthermore, various strategies adopted by the key market players are anticipated to drive market growth over the forecast period. For instance, in August 2022, Caregility, a telehealth platform company, and Eko, the developer of stethoscopes for telehealth, signed an integration partnership. Caregility's cloud platform can connect with Eko's smart stethoscopes and software. This lets users of Caregility's iConsult app perform high-quality auscultation (listening for heart, lung, and other body sounds) on patients during a virtual physical exam.

Therefore, the above-mentioned factors and others are contributing to the growth of the stethoscope market during the forecast period from 2024-2030.

However, security and data breaching concerns in the case of the digital stethoscope, and others may restrict the stethoscope market growth.

The stethoscope devices market was positively impacted as the outbreak increased the demand for electronic stethoscopes, as auscultation of the lungs was generally the first procedure used to determine whether the lungs were infected with COVID-19 or not, thereby increasing the demand for stethoscopes among end-users ranging from physicians to hospitals or home care. This led to a sudden surge in the demand for stethoscopes. However, during the initial phase, the demand for stethoscopes was disrupted owing to the lack of resources, raw materials, and manpower. But, as the demand for stethoscopes increased during the pandemic, sales increased significantly with the availability of stethoscopes over e-commerce platforms. Moreover, stethoscope devices help in the measurement of the vitals of patients in a homecare setting and avoid frequent visits to healthcare professionals. The physicians were able to track the heart sound & blood pressure data of patients regularly through the digital stethoscope devices by sitting in a different room. Henceforth, the afore-said factors propelled the demand for stethoscopes during the pandemic and are estimated to grow similarly during the forecast period.

Stethoscope Market Segment Analysis:

Stethoscope Market by Type (Manual Stethoscope [Tube Type {Single Tube and Double Tube}, Design Type {Single Head, Double Head, Triple Head, and Bell Shape Head}, Usability Type {Disposable and Non Disposable}] and Digital Stethoscope [Wired and Wireless Stethoscope]), End-User (Hospitals & Clinics, Homecare, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the stethoscope market, the wireless segment in the digital stethoscope category is expected to amass significant revenue share in the year 2023. This can be ascribed to the advantages offered by the segment.

The wireless digital stethoscopes assist physicians in the contactless evaluation of patients' heartbeat and lung function. Further, the increasing demand for teleconsultation services in recent years, lead to increased demand for wireless digital stethoscopes as these stethoscopes aid healthcare providers to analyse and share auscultations in real-time.

Moreover, higher compatibility of wireless technology as compared to other stethoscope devices and easy use are expected to drive the wireless digital stethoscope segment over the forecast period.

Further, the increasing planned activities, increasing product launches and approval, and rising mergers among companies will also drive the market of the wireless digital stethoscope category segment. For instance, in 2020, 3M and Eko joined to launch 3M Littmann CORE Digital Stethoscope, which combines 3M’s Littmann stethoscope technology with Eko’s software and AI algorithm. A digital stethoscope can convert sound into electronic signals, which can be further amplified for optimal listening. These electronic signals can be further processed and digitalized to transmit to a personal computer or a laptop.

Digital stethoscopes also help in telehealth as they provide accurate readings, recording, and replay capabilities. Thus, the above-mentioned factors and others will drive the growth of the overall stethoscope market during the forecast period.

Therefore, the advantages offered by the wireless digital stethoscope are predicted to contribute to the increasing demand for this segment thereby driving the growth of the overall stethoscope market during the forecast period.

North America is expected to dominate the overall Stethoscope Market:

Among all the regions, North America is estimated to account for the largest share in the stethoscope market in the year 2023. Owing to the factors, such as the rising prevalence of chronic diseases such as respiratory diseases, hypertension, & diabetes, and the increasing geriatric population in the region, the increasing product launches, the increasing awareness regarding self-measurement, the rising number of average patient visits to physicians, increasing demand of telehealth, and others will drive the North America stethoscope market and expected to witness positive growth.

For instance, according to the CDC 2022, in 2020 the prevalence of asthma by state or territory in the US was 2,848,466 in California, 1,449,094 in New York, 1,276,625 in Florida, and 1,032,246 in Pennsylvania. Asthma is a major health concern in many countries. Regular monitoring of pulmonary function with a stethoscope can reduce life-threatening asthma attacks. The stethoscope can help to detect the wheezes and rhonchi characteristics in an asthma patient. Thus, asthma patients need to check their heart and lung sounds on a regular base to prevent further complications. Thereby, the increasing cases of asthma will increase the demand for stethoscopes during the forecast period in North America.

Furthermore, various key strategies by the key market players, such as partnerships, mergers, and acquisitions, are expected to boost the market in the region. For instance, in April 2022, Sanolla launched the AI-ready VoqX infrasound stethoscope with the Food and Drug Administration (FDA) for clinical usage in the United States.

Thus, such strategic steps along with the increasing prevalence of chronic diseases will help to increase the demand for a stethoscope, thereby driving the North America stethoscope market forward during the forecast period.

Stethoscope Market Key Players:

Some of the key market players operating in the stethoscope market include 3M, 3B Scientific, IndoSurgicals Private Limited, Baxter, GF Health Products, Inc., American Diagnostic Corporation, Rossmax International Ltd., DESSILLIONS & DUTRILLAUX, Luxamed, Medline Industries, LP, Rudolf Riester GmbH, HEINE Optotechnik GmbH & Co. KG, CONTEC MEDICAL SYSTEMS CO., LTD, Zhejiang Honsun Medical Technology Co., Ltd, Prestige medical, Ayu Devices Pvt. Ltd., Timesco, Meditech Equipment Co ., Ltd, Fazzini, StethoMe sp. z o.o., and others.

Recent Developmental Activities in the Stethoscope Market:

• In April 2022, FDA grants 510(k) clearance for Sanolla’s AI-ready VoqX stethoscope. VoqX detects infrasound and audible sounds to identify clinical conditions, displaying diagnosis through the company’s sound signature image. It is claimed to be the world’s first stethoscope that can listen to infrasound or acoustic waves that humans cannot hear.
• In July 2020, FDA clears HD Medical’s smart stethoscope. This Stethoscope uses artificial intelligence to enable clinicians to perform an advanced cardiac evaluation at point-of-care and it is 3-in-1: intelligent stethoscope plus PCG, and ECG.

Key Takeaways from the Stethoscope Market Report Study

• Market size analysis for current stethoscope market size (2023), and market forecast for 6 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the stethoscope market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global stethoscope market.
• Various opportunities available for the other competitor in the stethoscope market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030.
• Which are the top-performing regions and countries in the current stethoscope market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for stethoscope market growth in the coming future?

Target Audience who can be benefited from this Stethoscope Market Report Study

• Stethoscope products providers
• Research organizations and consulting companies
• Stethoscope delivery devices-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in the stethoscope market
• Various End-users who want to know more about the stethoscope market and the latest technological developments in the stethoscope market.

Frequently Asked Questions for the Stethoscope Market:

1. What is Stethoscope?

The stethoscope is an acoustic medical instrument used for auscultation, or listening to a person's body's internal sounds. It is a medical device used to transmit low-volume sounds, such as heartbeat, venous, or fetal sounds, to the ear of the physician or doctor.

2. What is the global market for a stethoscope?

The global stethoscope market is estimated to grow at a CAGR of 5.3% during the forecast period from 2024 to 2030.

3. What are the drivers for global stethoscope market?

The demand for stethoscopes is primarily being heightened by the increasing prevalence of chronic diseases such as diabetes, hypertension, asthma, and others and also due to the rising awareness regarding self-assessment, the increasing product launches & approvals, and the increasing patient connectivity and engagement thereby, contributing to the overall growth of the stethoscope Market during the forecast period from 2024-2030.

4. Who are the key players operating in the global stethoscope market?

Some of the key market players operating in the stethoscope market include 3M, 3B Scientific, IndoSurgicals Private Limited, Baxter, GF Health Products, Inc., American Diagnostic Corporation, Rossmax International Ltd., DESSILLIONS & DUTRILLAUX, Luxamed, Medline Industries, LP, Rudolf Riester GmbH, HEINE Optotechnik GmbH & Co. KG, CONTEC MEDICAL SYSTEMS CO., LTD, Zhejiang Honsun Medical Technology Co., Ltd, Prestige medical, Ayu Devices Pvt. Ltd., Timesco, Meditech Equipment Co ., Ltd, Fazzini, StethoMe sp. z o.o., and others.

5. Which region has the highest share in the Stethoscope Market?

North America is expected to dominate the overall stethoscope market during the forecast period from 2024-2030. Factors such as the rising prevalence of respiratory diseases, cardiovascular disease, and other chronic diseases, and an increase in average patient visits to physicians, among others, will increase the demand for stethoscopes in the region. In addition, the surging geriatric burden, innovation in product development, high disposable income, the sophisticated healthcare infrastructure, the regulatory approval for new products, and the high awareness about self-measurement will increase the North American stethoscope market during the upcoming years.


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