The stethoscope market was evaluated at US$437.687 million for the year 2020, growing at a CAGR of 6.41% reaching the market size of US$675.944 million by the year 2027.
During the last decade, the profusion of technological advancements in electronic and digital stethoscopes has aided in the stethoscope market expansion in an unprecedented manner as compared to their traditional counterparts. This has certainly imparted an edge to the stethoscope market. The salient developments that the stethoscopes market has experienced are inclusive of but not limited to, superior digital sound transmission capabilities of digital stethoscopes and their increasing integration in the deployment of telemedicine. Despite certain alternative breakthroughs like portable and handheld ultrasound systems, the most preferred device for healthcare professionals to execute a preliminary physical evaluation of patients is stethoscopes. The stethoscope market around the world is expected to witness meteoric growth during the forecast period due to the increasing demand for electronic stethoscopes. Additionally, the evident innovation brought about to facilitate auscultation from a safe distance to ensure the safety of healthcare professionals during the pandemic. Another element that will likely contribute to the market's expansion is COVID 19. Benefit-wise, the enhanced prognosis provided by features like heartbeat recording & amplified playback free of background noise furthers the aspect that is contributing to market growth. These stethoscopes are also made available along with the software that empowers doctors and healthcare workers in general with the convenience and swiftness of monitoring the heart rate.
Therefore, the aforementioned aspiration and the need for continuous innovation have given rise to quite a few developments in the stethoscope arena, which signals a healthy growth of the stethoscope market during the forecast period. According to the CDC, heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. About 647,000 Americans die from heart disease each year—that’s 1 in every 4 deaths. Given the above, digital stethoscope maker Eko, to enable doctors to identify specific, serious heart conditions accurately thereby expediting the diagnosis and treatment for patients offers Duo stethoscope. its Duo stethoscope is claimed to detect 99% sensitivity and 97% specificity in a clinical study. Furthermore, the FDA granted 510(k) clearance to its artificial intelligence algorithms in January 2020 to assist physicians in identifying atrial fibrillation (AFib) and heart murmurs during a standard physical exam. Moreover, another breakthrough occurred in March 2020, which is the Innovative Remote E-Stethoscope Platform (RESP) created by Stratos Labs. Additionally, physicians and nurses can experience noise fatigue as their hours are extended, and the patient ratio increases. The Stratos System’s respiratory solution consists of a small, lightweight, non-invasive stethoscope that records lung sounds and uploads them to a digital clinician portal. In May 2020, the Thinklabs One, the smallest, most powerful electronic stethoscope in the world, joins the stream of innovation that's occurring in response to the COVID-19 pandemic, announcing technological advances that help keep healthcare workers safe during the COVID-19 pandemic by allowing Safe Distance Auscultation™ by featuring features more than 100X amplification, as compared to a traditional acoustic stethoscope. Again, in April 2020, an IIT Bombay startup Ayu Devices developed a digital stethoscope called AyuSynk which also is being deployed for remote auscultation. The device allows storing the auscultated sound as part of the health record of the patient sharing here it with other doctors for confirmation of opinion. Again, in May 2020, Kanata biotech company says it’s developed a device that allows doctors and nurses to listen to a patient’s heart and lungs while maintaining physical distance– an innovation that enables important medical treatment while helping to limit the spread of COVID 19. The system, known as Auscul-X, features six sensors that are attached to a patient’s torso. Medical practitioners can listen to lung and heart sounds remotely using a smartphone, tablet, or computer, or through earphones attached to a control module. In the same January, the launch of Stephen’s AI-enabled stethoscope system designed to amplify, filter, record, and analyze heart and lung sounds was announced. The product was a strategic partnership between the ministry, Malaysian Investment Development Authority, Collaborative Research in Engineering, Science, and Technology (Crest), and M3DICINE, which was facilitated by the Telemedicine Development Group (TDG). Additionally, the recently released, FDA-approved Stethee Pro has technology that uses smartphone apps for both Apple iOS and Google Android smartphones to wirelessly record and analyze lung and heart sounds and data.
Because of its growing elderly population, rising chronic disease burden, key market participants, and a growing number of hospitals, North America is anticipated to account for a sizeable portion of the global stethoscope market. The major cause of death in the United States in September 2020, according to the Centers for Disease Control and Prevention (CDC), was heart disease. Thus, as cardiovascular disorders become more common, there will likely be a greater need for pulse oximeters, which would help the market. As a result, early detection of these disorders leads to prompt treatment, which increases the need for stethoscopes in this area and propels the market. Additionally, there is a growing demand for cardiovascular devices as the ageing population in the U.S. grows. The 2020 Profile of Older Americans, issued in May 2021 by the Administration of Community Living, estimates that there will be around 54.1 million people who are 65 or older in 2019 and that number will rise to 94.7 million by the year 2060. The country's burden of heart failures is rising along with the country's ageing population, which is fueling demand for stethoscopes and expanding the market.
Recent Developments ad expansions
Global demand for contemporary digital stethoscopes has significantly increased as a result of the COVID-19 pandemic. The novelty and appeal of digital stethoscopes significantly increased during the pandemic. To reduce the risk of cross-contamination, several healthcare facilities have implemented and started using wearable gadgets as well as telemedicine and telehealth platforms as part of current standards of care. To keep medical personnel safe during this epidemic, for instance, Thinklabs One, an automated stethoscope, was just introduced. There has been an increased demand for stethoscopes among end-users, varying from physicians to hospitals or home care providers, because auscultation of the lungs is typically the first method to detect if the lungs are infected with COVID-19 infection or not.
|Market size value in 2020||US$437.687 million|
|Market size value in 2027||US$675.944 million|
|Growth Rate||CAGR of 6.41% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Application, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||3M, ABN Medical, AdamRouilly, AMD Global Telemedicine, Inc., AME WORLDWIDE, American Diagnostic Corporation, BOSCH + SOHN GmbH u. Co. KG., Briggs Healthcare, Smith Medical, Cardionics, CONTEC MEDICAL SYSTEMS CO., LTD., Dessillons & Dutrillaux, Eko Devices Inc., GF Health Products, Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the stethoscope market size by 2027?
A1. The stethoscope market is projected to reach a market size of US$675.944 million in 2027.
Q2. What is the size of the global stethoscope market?
A2. Stethoscope Market was valued at US$437.687 million in 2020.
Q3. What are the growth prospects for the stethoscope market?
A3. The stethoscope market is projected to grow at a CAGR of 6.41% over the forecast period.
Q4. How is the global stethoscope market segmented?
A4. The stethoscope market has been segmented by type, application, end-user, and geography.
Q5. What factors are anticipated to drive the stethoscope market growth?
A5. The stethoscope market around the world is expected to witness meteoric growth during the forecast period due to the increasing demand for electronic stethoscopes.
AMD Global Telemedicine, Inc.
American Diagnostic Corporation
BOSCH + SOHN GmbH u. Co. KG.
CONTEC MEDICAL SYSTEMS CO., LTD.
Dessillons & Dutrillaux
Eko Devices Inc.
GF Health Products, Inc.
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.