Stethoscope Industry Overview
The global stethoscope market size was valued at USD 569.61 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030. Rising instances of cardiovascular & respiratory diseases and the growing aging population are major factors expected to drive the market. In addition, the adoption of technologically advanced products featuring Bluetooth connectivity with digital wireless hearing aids and stethoscope apps on smartphones, and various government initiatives are a few more factors contributing to the growth of the market.
Moreover, the outbreak of COVID-19 in 2020 has drastically increased the demand for modern digitized stethoscopes globally. Amidst the pandemic, digital stethoscopes witnessed a major upswing in popularity and novelty. This period has also witnessed the implementation and use of telemedicine & telehealth platforms, as well as wearable devices, as part of current standards of care in many healthcare facilities to avoid the risk of cross-contamination.
Gather more insights about the market drivers, restraints, and growth of the Global Stethoscope Market
An increase in the geriatric population has driven the demand for advanced stethoscopes for the primary diagnosis of numerous chronic health ailments. As per the CDC, it has been recognized that people aged above 65 years are at a higher risk of developing severe health problems such as heart diseases, common cold and flu, asthma, chronic obstructive pulmonary disease, and other conditions.
According to the World Ageing 2019 report, it is estimated that there were about 703.0 million people aged 65 years or over globally in 2019. This number is estimated to double to 1.5 billion in 2050. This factor is anticipated to be one of the high growth rendering factors for the overall market.
The rising prevalence of heart-related diseases and various respiratory illnesses such as asthma, acute bronchitis, cystic fibrosis, and emphysema is propelling the market growth. For instance, according to the WHO, heart disease remains the major cause of death in most countries around the world, with 17.9 million people dying each year as a result of cardiovascular diseases. Such a huge patient pool leads to a surge in demand for stethoscopes.
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Hearing Aids Market - The global hearing aids market size was valued at USD 10.6 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.90% from 2023 to 2030.
Digital Stethoscope Market - The global digital stethoscope market size was valued at USD 101.57 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of over 6.36% from 2023 to 2030.
Stethoscope Market Segmentation
Grand View Research has segmented the global stethoscope market based on technology, sales channel, end-use, and region:
Stethoscopes Technology Outlook (Revenue, USD Million, 2018 - 2030)
- Electronic/Digital Stethoscope
- Smart Stethoscope
- Traditional Acoustic Stethoscope
Stethoscopes Sales Channel Outlook (Revenue, USD Million, 2018 - 2030)
- Distributors
- E-commerce
- Direct Purchase
Stethoscopes End-Use Outlook (Revenue, USD Million, 2018 - 2030)
- Home Healthcare
- Hospitals
- Clinics
- Nurse Practitioners
- EMT/ First Responders
- Veterinary
Stethoscope Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights:
October 2020: 3M and Eko collaborated to combine 3M’s Littmann stethoscope with Eko’s digital innovations.
April 2020: Ayu Devices, a start-up based at IIT Bombay's Society for Innovation and Entrepreneurship (SINE), designed AyuSynk, a digital stethoscope that enables doctors to listen to heart and lung sounds while maintaining a safe distance from patients.
Key Companies profiled:
Some prominent players in the global Stethoscope market include
- 3M
- Medline Industries
- Welch Allyn
- Eko Devices Inc.
- GF Health Products, Inc.
- Rudolf Riester GmbH
- American Diagnostics Corporation
- Cardionics
- Heine Optotechnik GmbH & Co. KG
- PAUL HARTMANN AG
- STETHOME SP. Z O.O.
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