The technological advancements that electronic and digital stethoscopes have made in the recent decade have helped them in attaining an edge over traditional stethoscopes. The main development in stethoscopes market include superior digital sound transmission competencies of digital stethoscopes and their growing use in telemedicine. In spite of the introduction of advanced technologies such as portable and handheld ultrasound systems, stethoscopes are still the preferred choice of healthcare professionals for preliminary physical examination. Global stethoscope market is expected to grow at a high rate during the forecast period as a result of growing demand for electronic stethoscope and fetal heart rate detectors.
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Digital stethoscopes have innovative features such as recording sound and amplifying the recorded sound up to 24 times the original sound, and removing other disruptive sounds for improved prognosis. Moreover, the digital stethoscopes are also furnished with software that allows doctors to extrapolate the readings to chart for monitoring the heart rate of patient. Enhanced acoustics, better performance, and innovative designs are the major focus of most stethoscope industry manufacturers. Fetal dopplers and heart rate detectors are other significant sector driving the growth of this industry.
On the basis of product type the global stethoscope market can be segmented into manual & mechanical stethoscopes, fetal stethoscopes, esophageal stethoscopes, electronic stethoscopes, optical stethoscopes,doppler stethoscopes, teaching stethoscopes, 3d-printed stethoscope, and acoustic stethoscope. Manual & mechanical stethoscopes remain the major segment and expected to remain dominant segment due to ease of use. Electronic stethoscopes, due to their advanced features, offer strongest growth potential in stethoscope industry. Increasing global per capita income and increasing living standards of population in both developed and developing has increased the public affordability and boosted the overall healthcare industry.
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This in turn has raised the demand for technologically advanced products and is anticipated to drive the medical devices market as a whole including the stethoscope market. The global rise in the geriatric population which is more susceptible to various chronic ailments is also expected to fuel the growth of stethoscope industry. Based on end-user, the global stethoscope market can be segmented into hospitals, physician offices, clinics, ambulatory surgical centers, nursing facilities, research and academic institutes, and others.
Geographically, the global stethoscope market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Growing population and rapid urbanization in emerging economies of Asia Pacific are expected to drive the stethoscope market in the region during the forecast period. Asia Pacific is projected to have the fastest growth, owing to a rapidly developing medical infrastructure, increasing spending on healthcare and growing medical tourism in developing nations such as China and India in this region. Developing countries in the region are likely to witness rising demand for stethoscope in the next few years.
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Key players operating in the global stethoscope market are 3M Corporation, A&D Medical, American Diagnostic Corporation, Cardionics, Inc., GF Health Products, Inc., Medline Industries, Inc., Rudolf Riester GmbH & Co. KG, Omron Corporation, McCoy Medical, and Welch Allyn, Inc.